ABL Facility Claim definition

ABL Facility Claim means any Claim arising under, derived from, or based upon the ABL Facility Documents that has not been repaid on a final and indefeasible basis as of the Effective Date.
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ABL Facility Claim means any Claim arising under, derived from, secured by, based on, or related to the ABL Loans and the guarantees in respect thereof under the ABL Credit Agreement or any other ABL Document.
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ABL Facility Claim means any Claim derived from or based upon the ABL Facility.
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Examples of ABL Facility Claim in a sentence

  • Except to the extent that a Holder of an Allowed DIP ABL Facility Claim agrees to a less favorable treatment, in full and final satisfaction, settlement, release and discharge of each Allowed DIP ABL Facility Claim, on the Effective Date, each Holder of an Allowed DIP ABL Facility Claim will either: (a) be paid indefeasibly in full in Cash or (b) with the consent of such Holder, receive its Pro Rata share of the Exit ABL Facility.

  • Such gain or loss should be capital in nature so long as the Allowed ABL Facility Claim is held as a capital asset (subject to the “market discount” rules discussed in Section 10.3(e) below) and should be long-term capital gain or loss to the extent that the Holder has a holding period in the debt obligation underlying such Claim of more than one year.

  • To the extent that any other ABL Facility Claim is contingent as of the Effective Date, the Reorganized Debtors may, in their sole discretion, elect to (i) terminate any further commitments under the ABL Facility, (ii) cash collateralize such contingent amounts, or (iii) provide the ABL Lenders with such other treatment mutually satisfactory.

  • It is also unclear whether the change in Boomerang’s classification from a partnership to a disregarded entity owned by New Holdco for U.S. federal income tax purposes would give rise to a significant modification of the Allowed ABL Facility Claim.

  • Although the Exit ABL Facility Loans are expected to contain substantially the same terms as the ABL Facility, it is unclear whether the deemed extension of the maturity date and the amendments to certain covenants and maintenance requirements would qualify under the section 1001 safe harbors and, if not, whether they would give rise to a significant modification to the Allowed ABL Facility Claim under the general Section 1001 Regulations.

  • Neither the ABL Lenders nor the ABL Facility Agent shall be required to file proofs of claim on account of any ABL Facility Claim.

  • A Holder’s holding period for its pro rata share of the Exit ABL Facility Loans received in exchange for an Allowed ABL Facility Claim should begin on the day following the Effective Date.

  • Holders of Allowed ABL Facility Claims are urged to consult their own tax advisors as to whether the exchange of an Allowed ABL Facility Claim for a pro rata share of the Exit ABL Facility Loans constitutes a significant modification, and consequently a deemed exchange, of the ABL Facility under the Section 1001 Regulations.

  • A Holder’s tax basis in respect of a pro rata share of the Exit ABL Facility Loans received in exchange for such Holder’s Allowed ABL Facility Claim should equal the issue price of such Exit ABL Facility Loans.

  • If the exchange of an Allowed ABL Facility Claim for an interest in the Exit ABL Facility Loans does not result in a significant modification of the ABL Facility, then a Holder of an Allowed ABL Facility Claim should not recognize any gain or loss with respect to such Claim.


More Definitions of ABL Facility Claim

ABL Facility Claim means any Claim arising under, derived from, or based upon the ABL Facility Documents that is not rolled-up into the DIP ABL Facility.
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ABL Facility Claim means any Claim derived from or based upon the ABL Facility, if any.
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ABL Facility Claim means any Claim arising or existing under or related to the ABL CreditFacility.
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ABL Facility Claim means any Claim arising on account of the “Obligations,” as defined in the ABL Credit Agreement.
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Related to ABL Facility Claim

  • DIP Facility Claim means a Claim arising under or as a result of the DIP Facility.

  • ABL Facility means the asset-based revolving credit facility evidenced by the ABL Facility Agreement.

  • DIP Facility Claims means all Claims held by the DIP Facility Agent and the DIP Facility Lenders pursuant to the DIP Facility Agreements and the Final DIP Order.

  • Superpriority Claim means a claim against the Borrower and any Guarantor in any of the Cases which is an administrative expense claim having priority over any or all administrative expenses of the kind specified in Sections 503(b) or 507(b) of the Bankruptcy Code.

  • Senior ABL Facility shall include any agreement (i) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (ii) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (iii) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (iv) otherwise altering the terms and conditions thereof.

  • Priority Claim means a Claim that is entitled to priority in payment pursuant to section 507(a) of the Bankruptcy Code that is not an Administrative Claim or a Priority Tax Claim.

  • Other Priority Claim means any Claim other than an Administrative Claim or a Priority Tax Claim entitled to priority in right of payment under section 507(a) of the Bankruptcy Code.

  • Secured Claim means a Claim that is secured by a Lien on property in which any of the Debtors’ Estates have an interest or that is subject to setoff under section 553 of the Bankruptcy Code, to the extent of the value of the Claim holder’s interest in such Estate’s interest in such property or to the extent of the amount subject to setoff, as applicable, as determined pursuant to section 506(a) of the Bankruptcy Code or, in the case of setoff, pursuant to section 553 of the Bankruptcy Code.

  • DIP Claim means all Claims held by the DIP Lender under the DIP Facility Term Sheet, the DIP Facility, or the Financing Orders, which includes Claims for all principal amounts outstanding of up to $9,000,000 (subject to increase pursuant to the Financing Final Order), plus interest pursuant to the terms of the DIP Facility Term Sheet and the Financing Orders.

  • Other First Lien Obligations means (a) the due and punctual payment by any Pledgor of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding) on Indebtedness under any Other First Lien Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (ii) all other monetary obligations of such Pledgor to any Secured Party under any Other First Lien Agreement, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding), (b) the due and punctual performance of all other obligations of such Pledgor under or pursuant to any Other First Lien Agreement and (c) the due and punctual payment and performance of all the obligations of each other Pledgor under or pursuant to any Other First Lien Agreement.

  • ABL Facility Documents means the agreements and other instruments governing the ABL Facility, together with any guarantees thereof and any security documents, other collateral documents and other instruments relating thereto (including documents and instruments governing Hedging Obligations required by the ABL Facility or relating to ABL Obligations).

  • Additional First Lien Obligations means, with respect to any Series of Additional First Lien Obligations, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Additional First Lien Obligations, (b) all other amounts payable to the related Additional First Lien Secured Parties under the related Additional First Lien Documents and (c) any renewals of extensions of the foregoing.

  • Unsecured Claim means any Claim that is not a Secured Claim.

  • Senior Credit Facility shall include any agreement (i) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (ii) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (iii) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (iv) otherwise altering the terms and conditions thereof.

  • Administrative Claim means a Claim for costs and expenses of administration of the Estates under sections 503(b), 507(a)(2), 507(b), or 1114(e)(2) of the Bankruptcy Code, including: (a) the actual and necessary costs and expenses incurred on or after the Petition Date of preserving the Estates and operating the businesses of the Debtors; (b) Allowed Professional Fee Claims in the Chapter 11 Cases; and (c) all fees and charges assessed against the Estates under chapter 123 of title 28 of the United States Code, 28 U.S.C. §§ 1911-1930.