Examples of Bank Term Loan Agreement in a sentence
The Borrower shall not amend, waive or otherwise modify (a) the Bank Term Loan Agreement in a manner that would result in terms more favorable to the lenders party thereto than the terms hereof or (b) the Master Agreement in a manner materially adverse to the Lenders (other than GECC or any of its Affiliates that are Lenders) without the prior written consent of the Required Lenders.
Bank Term Loan Agreement means that certain Term Loan Credit Agreement among Carmike, Wachovia, the Banks party thereto, Goldman Sachs Credit Partners L.P. as syndication agent, and First Union National Bank as documentation agent, dated as of February 25, 1999, and any of the documents and instruments relating thereto, as amended, supplemented, modified or restated as of the Commencement Date, including, without limitation, the amendments thereto dated July 13, 1999 and March 31, 2000.
Neither Borrower is engaged in the business of extending credit for the purpose of purchasing or carrying margin stock, and no proceeds of any borrowings hereunder will be used for a purpose which violates, or would be inconsistent with, F.R.S. Board 24 Regulation U or X, or any official rulings on or interpretations of such regulations.
Such obligations shall be subordinated to Reorganized Galaxy's obligations under the New Bank Term Loan Agreement, with documentation as to security and subordination acceptable to Lenders under the New Bank Term Loan Agreement.
Reorganized Galaxy will enter into the New Bank Term Loan Agreement (a copy of which will be included in the Plan Supplement) whereby Reorganized Galaxy shall acknowledge and incur indebtedness to the Prepetition Bank Lenders in an aggregate principal amount equal to the balance outstanding under the Prepetition Bank Loans as of the Effective Date.
See Article V, entitled "THE PLAN OF REORGANIZATION." At the closing of the Restructuring, which would occur on the Effective Date, among other things, the Plan would become effective, the New Bank Term Loan Agreement, the New Subordinated Notes, New Stock, and Warrants would become issuable, the Prepetition Notes, the Prepetition Bank Loans and the Prepetition Equity Interests would be canceled, and the Companies' obligations thereunder would be discharged.
Failure to comply with such covenants could result in a default under the New Bank Term Loan Agreement which could have a material adverse effect on the financial condition and results of operations of Reorganized Galaxy.
Required Banks means each of the "Required Banks" and the "Required Lenders" as defined in the Bank Revolver Agreement and the Bank Term Loan Agreement, respectively.
In addition, the New Bank Term Loan Agreement will contain the following financial covenants: (1) maximum senior debt to annualized operating cash flow; (2) maximum total debt to annualized operating cash flow; (3) minimum ratio of operating cash flow to total debt service; (4) minimum fixed charge ratio; (5) maximum capital expenditures; and (6) minimum number of subscribers.
As of the Effective Date, Reorganized Galaxy will enter into the New Bank Term Loan Agreement and will issue the New Subordinated Notes, the New Stock, and the Warrants.