ABL Refinancing definition

ABL Refinancing means the amendment and restatement of the Existing ABL Facility with the ABL Facility.

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ABL Refinancing means the repayment or refinancing of all principal, accrued and unpaid interest, and fees outstanding on the Closing Date, the cash collateralization of all letters of credit (if any), the termination of all outstanding commitments, and the release of all Liens and guarantees, under that certain ABL Credit Agreement, dated as of October 14, 2016 (the “ABL Credit Agreement”), among the Borrower, the lenders and other parties from time to time party thereto, and Deutsche Bank AG New York Branch, as administrative agent and collateral agent.

ABL Refinancing means any refinancing of the ABL Facility.

Examples of ABL Refinancing in a sentence

Prior to (or substantially concurrently with) the effectiveness of this Agreement and the funding of the initial Loans on the Closing Date, Holdings and its Subsidiaries shall have consummated the Existing ABL Refinancing.
The Administrative Agent shall have received a customary payoff letter, in each case in form and substance satisfactory to the Administrative Agent, in respect of the Existing ABL Refinancing, specifying the amounts necessary to consummate the Existing ABL Refinancing, together with customary termination statements, discharges and other release documentation evidencing the termination of the Liens in and to the properties and assets of the Loan Parties and their Subsidiaries.
Upon the ABL Refinancing (as defined in the Interim DIP/Cash Collateral Order), each Holder of an Allowed Prepetition ABL Claim shall have received, in full and final satisfaction, settlement, release and discharge of, and in exchange for such Allowed Prepetition ABL Claim, payment in full in Cash (including the replacement or Cash collateralization of all issued and undrawn letters of credit in accordance with and in the amounts specified under the Prepetition ABL Credit Agreement).
Notwithstanding any of the restrictions set forth in the Loan Documents, each of the undersigned hereby acknowledges and consents to the ABL Refinancing and execution, delivery and performance of the New ABL Credit Agreement and the Loan Documents (as defined in the New ABL Credit Agreement).
The Borrower is hereby authorized to borrow money under the DIP Credit Agreement, on an interim basis, up to an aggregate principal or face amount not to exceed $10 million plus amounts necessary to effect the Prepetition ABL Refinancing, and the Guarantors are hereby authorized to guaranty such borrowings, all in accordance with the terms of this Interim Order, the DIP Credit Agreement and the other DIP Credit Documents.
Effective as of the Amendment No. 7 Effective Date, the ABL Refinancing Lenders hereby agree that the Collateral will not include Real Property.
The Existing ABL Refinancing and the Target Debt Refinancing shall have been consummated, or substantially simultaneously with the initial borrowing under the Facilities, shall be consummated.
In connection with the ABL Refinancing, the Lenders acknowledge and consent to the cash collateralization of the letters of credit set forth on Schedule 1 attached hereto.

More Definitions of ABL Refinancing

ABL Refinancing means upon entry of the Interim Order and the satisfaction or waiver of all other closing conditions in the ABL DIP Credit Agreement, without any further action by the Debtors, the Court or any other party, the Debtors shall be (i) authorized to promptly borrow under the ABL DIP Credit Agreement the full amount necessary to fully and immediately cash collateralize all Prepetition ABL Letters of Credit and repay all other Prepetition ABL Secured Obligations in the amounts and in the manner specified in the Prepetition ABL Payoff Letter, (ii) authorized to execute and perform under the Prepetition ABL Payoff Letter, (iii) authorized to contemporaneously cash collateralize all Prepetition ABL Letters of Credit and repay all other Prepetition ABL Secured Obligations in the amounts and in the manner specified in the Prepetition ABL Payoff Letter, (iv) subject to the provisions of paragraph 2(e)(vi), upon the Prepetition ABL Agent’s and its advisors’ receipt of the Payoff Amount, deeming the Prepetition Intercreditor Agreement to be amended and restated into the DIP Intercreditor Agreement, and (v) subject to the provisions of paragraph 2(e)(vi), upon the Prepetition ABL Agent’s and its advisors’ receipt of the Payoff Amount (as defined in the Prepetition ABL Payoff Letter), deemed to have fully satisfied and repaid all Prepetition ABL Secured Obligations except to the extent set forth in the Prepetition ABL Payoff Letter.

ABL Refinancing means the repayment in full of all obligations under, and the termination of all commitments under, that certain ABL Credit Agreement dated as of October 28, 2019 (as amended, amended and restated, modified, waived, extended, renewed, replaced or refinanced from time to time prior to the New 2023 Incremental Amendment Effective Date, the “ABL Credit Agreement”) among the Borrower, Ciena Communications, Inc., Ciena Government Solutions, Inc., Ciena Canada, Inc., as borrowers, Bank of America, N.A., as administrative agent, swing line lender and a l/c issuer, the other l/c issuers party thereto and the other lenders party thereto; provided that letters of credit issued thereunder and listed on Schedule I shall be treated as Letters of Credit under this Agreement.

ABL Refinancing has the meaning set forth in Section 3.22(b).