Examples of ABL Facility Lenders in a sentence
In January and February of this year, the Debtors initiated a dialog with the ABL Facility Lenders and the Term Loan Lenders to address the Debtors’ tightening liquidity resulting from challenging market conditions and to request incremental liquidity and other related relief.
The March RSA, which required, among other things, the unanimous consent of the Term Loan Lenders to be implemented out of court, ultimately received the support of the Debtors, Tubulars, the ABL Facility Lenders and all but one of the Term Loan Lenders.
The Debtors have also secured the DIP Facilities from their Prepetition ABL Facility Lenders and certain of the consenting lenders under the Restructuring Support Agreement.
From March 17, 2015 through June 1, 2015, the Debtors, the ABL Agent and the ABL Facility Lenders entered into a series of short-term forbearance agreements as further described in Section 4.2 below, which, among other things, provided for additional advances to the Debtors to fund payroll and other business-critical expenses and the ABL Facility Lenders’ agreement to forbear from exercising their rights under the ABL Facility for a period of time.
The Debtors, the ABL Facility Agent and the ABL Facility Lenders entered into a Forbearance Agreement dated March 17, 2015 (the “Initial Forbearance”), pursuant to which the ABL Facility Lenders agreed to make up to $2,045,263.39 of additional advances and forbear from exercising their rights under the ABL Loan Agreement until March 23, 2015.