Conforming DIP definition

Conforming DIP. “DIP Financing”, “Insolvency Increase Amount” or “Maximum Revolving Insolvency Amount”;
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Conforming DIP has the meaning provided in SECTION 7.05(a)(i).
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Conforming DIP has the meaning set forth in Section 8.06(a). ​
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Examples of Conforming DIP in a sentence

  • No Revolving Secured Party or FILO Secured Party may benefit from a Recovery, and any distribution made to a Revolving Secured Party or FILO Secured Party as a result of a Recovery will be paid over to the Administrative Agent for application to the Obligations in accordance with Section 8.05 (after application to any DIP Financing that is a Conforming DIP or is otherwise consented to by the FILO Agent).

  • Banro and the Monitor, in consultation with the Conforming DIP Lender, will assess the Alternative Transaction Bids received by the Bid Deadline and determine whether such bids constitute Qualified Alternative Transaction Bids.

  • No Credit Party may benefit from a Recovery, and any distribution made to a Credit Party as a result of a Recovery will be paid over to the Agent for application to the Obligations in accordance with Section 8.03 and Section 8.04 (after application to any DIP Financing that is a Conforming DIP or is otherwise consented to by the FILO Agent).

  • Following the Bid Deadline, Banro or the Monitor shall distribute copies of the Alternative Transaction Bids received to the Conforming DIP Lender.

  • A Second Lien Claimholder that elects not to be a DIP Participating Creditor with respect to any proposed Non Conforming DIP Financing may object to, or consent to, such Non Conforming DIP Financing, and may seek adequate protection in respect of its Liens securing its Second Lien Obligations.

  • Notwithstanding the immediately preceding sentence, other than in connection with (i) Permitted Overadvances and (ii) a Conforming DIP, the Administrative Agent and the Lenders will not waive any condition in this Section 4.02 or make any Credit Extension if such Persons have actual knowledge that the Loan Parties would breach Section 6.11 after giving effect to the applicable extension of credit.


More Definitions of Conforming DIP

Conforming DIP has the meaning provided therefor in Section 7.05(d). “Consent” means actual consent given by a Lender from whom such consent is sought. If ten (10) Business Days after receipt of written notice to a Lender from the Administrative Agent of a proposed course of action to be followed by the Administrative Agent without such Lender’s giving the Administrative Agent written notice of that Lender’s consent to such course of action, such Lender shall be deemed not to have consented thereto. “Consignor Payables Reserve” means such Availability Reserve as Administrative Agent shall from time-to-time implement and maintain in its reasonable discretion, to reflect amounts that are or may be payable by Loan Parties to Persons that, as consignors, have placed goods with Loan Parties, as consignees, to be held for sale by Borrower on a consignment basis. “Consolidated” means, when used to modify a financial term, test, statement, or report of a Person, refers to the application or preparation of such term, test, statement or report (as applicable) based upon the consolidation, in accordance with GAAP, of the financial condition or operating results of such Person and its Subsidiaries. “Consolidated EBITDA” means, at any date of determination, an amount equal to Consolidated Net Income of the Parent and its Subsidiaries on a Consolidated basis for the most recently completed Measurement Period, plus (a) the following to the extent deducted in calculating such Consolidated Net Income: (i) Consolidated Interest Charges, (ii) the provision 13
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Conforming DIP means any debtor-in-possession financing to any Loan Party by one or more of the Administrative Agent or the Tranche A Revolving Lenders or their respective Affiliates under any Debtor Relief Law that shall (a) not exceed $30,000,000 in aggregate principal amount (less other Specified Debt previously incurred) on account of new money loans and new letters of credit extended to fund the operations of the Borrowers and their Subsidiaries, provided that (x) the face value of (A) rollover Letters of Credit, (B) new issuances of letters of credit that replace Letters of Credit (except to the extent resulting in a face value in excess of any such replaced Letters of Credit) and (C) amendments, renewals and extensions of letters of credit described in clauses (A) and (B) (except to the extent resulting in a face value in excess of any such amended, renewed or extended letter of credit) and (y) letters of credit and other sureties support, in each case, in connection with bonding relating to regulatory requirements (including in the form of new money loans extended for such purpose) shall not count toward such $30,000,000 limit, (b) prior to the earlier of (i) an event of default thereunder or (ii) the granting by the lenders thereunder of relief requested by the Loan Parties with respect to a prospective event of default, not compel the loan parties thereunder to seek confirmation of a specific plan of reorganization or the sale of all or substantially all assets of such loan parties, and (c) require that any Loan Party’s motion requesting the approval of such debtor-in-possession financing seek adequate protection and replacement liens for the Tranche B Revolving Lenders, if adequate protection is sought for the Tranche A Revolving Lenders, subject to the requirements set forth in Section 10.04. Notwithstanding the above, a Conforming DIP may include milestone requirements (provided that such milestone requirements, outside of any milestone requirements included in any plan of reorganization, do not compel the sale of all or substantially all assets of such loan parties or other obligors prior to the earlier of (i) an event of default or (ii) the granting by the lenders thereunder of relief requested by the Loan Parties with respect to a prospective event of default), including, but not limited to, milestones with respect to filing a plan of reorganization and disclosure statement, each in form and substance satisfactory to the Tranche A Revolving Lenders and th...
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Conforming DIP has the meaning set forth in Section 6.15(d8.06(a).
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Related to Conforming DIP

  • Conforming means goods or performance under a lease contract that are in accordance with the obligations under the lease contract.

  • Qualified Replacement Special Servicer A Person as to which all the following conditions are satisfied at the relevant date of determination: (A)(i) all the representations and warranties set forth in Section 2.06 are true and accurate as applied to such Person (other than any change in the entity type or the state or jurisdiction of formation), (ii) there is no event or circumstances that constitutes, or would constitute, but for notice or the passage of time, a Servicer Termination Event with respect to such Person under this Agreement, (iii) such Person is not the Trust Advisor or an Affiliate of the Trust Advisor and there exists no agreement as a result of which, whether or not subject to any condition or contingency, such Person would become an Affiliate of the Trust Advisor or merge or be consolidated with or into the Trust Advisor (regardless of the identity of the surviving Person) or succeed to any portion of the business of the Trust Advisor that includes the Trust Advisor’s rights or duties under this Agreement, (iv) neither such Person nor any Affiliate of such Person is obligated, whether by agreement or otherwise, and whether or not subject to any condition or contingency, to pay any fee to, or otherwise compensate or grant monetary or other consideration to, the Trust Advisor or any Affiliate thereof in connection with this Agreement, (x) in connection with the special servicing obligations that such Person would assume under this Agreement or the performance thereof or (y) in connection with the appointment of such Person as, or any recommendation by the Trust Advisor for such Person to become, the successor Special Servicer, (v) such Person is not entitled to receive any compensation from the Trust Advisor in connection with its activities under this Agreement and (vi) such Person is not entitled to receive from the Trust Advisor or any Affiliate thereof any fee in connection with the appointment of such Person as successor Special Servicer, unless, in the case of each of the foregoing clauses (i) through (vi), the appointment of such Person as successor Special Servicer has been expressly approved by 100% of the Certificateholders; and (B) is not a Prohibited Party and has not been terminated in the capacity of Master Servicer or Special Servicer hereunder in whole or in part as a result of a Servicer Termination Event under Section 7.01(a)(xv), unless the appointment of such Person as successor Special Servicer has been expressly approved by Depositor acting in its reasonable discretion.

  • Nonconforming Goods means only the following: (i) product shipped is different than identified in Buyer's purchase order; or (ii) product's label or packaging incorrectly identifies its contents.

  • Replacement Capital Covenant has the meaning specified in the introduction to this instrument.

  • non-conforming use means a lawful specific use:

  • Qualifying Replacement Capital Covenant has the meaning specified in the Replacement Capital Covenant.

  • Conforming Changes means, with respect to either the use or administration of Term SOFR or the use, administration, adoption or implementation of any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Base Rate,” the definition of “Business Day,” the definition of “U.S. Government Securities Business Day,” the definition of “Interest Period” or any similar or analogous definition (or the addition of a concept of “interest period”), timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of Section 3.05 and other technical, administrative or operational matters) that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of any such rate or to permit the use and administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of any such rate exists, in such other manner of administration as the Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).

  • SOFR Adjustment Conforming Changes means, with respect to any SOFR Rate, any technical, administrative or operational changes (including changes to the interest period, timing and frequency of determining rates and making payments of interest, rounding of amounts or tenors, and other administrative matters) that the Administrator decides, from time to time, may be appropriate to adjust such SOFR Rate in a manner substantially consistent with or conforming to market practice (or, if the Administrator decides that adoption of any portion of such market practice is not administratively feasible or if the Administrator determines that no market practice exists, in such other manner as the Administrator determines is reasonably necessary).

  • Required Modification shall have the meaning specified in Section 8.1 of the Facility Lease.

  • Benchmark Replacement Conforming Changes means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Base Rate,” the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of such Benchmark Replacement exists, in such other manner of administration as the Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).

  • Non-Conforming Product means a Product that does not conform to the Supplier’s Warranties.

  • Closing Statement means the Closing Statement in the form on Annex A attached hereto.

  • Major Decision Reporting Package With respect to any Major Decision, (a) a written report prepared by the Special Servicer describing in reasonable detail (i) the background and circumstances requiring action of the Special Servicer, (ii) the proposed course of action recommended, and (iii) information regarding any direct or indirect conflict of interest in the subject action, and (b) all information in the Special Servicer’s possession that is reasonably requested by the party receiving such Major Decision Reporting Package in order for such party to exercise any consultation or consent rights available to such party under this Agreement.

  • Post-Closing Statement has the meaning set forth in Section 3.3(c).

  • Draft Closing Statement means a draft closing statement, prepared by Seller, as of the close of business of the third (3rd) business day preceding the Closing Date setting forth an estimated calculation of both the Purchase Price and the Estimated Payment Amount.

  • Final Acceptance Certificate “– shall mean ISR's issuance of a signed Final Acceptance Certificate in the form attached hereto as Appendix D.

  • Most Favored Lender Notice means, in respect of any More Favorable Covenant, a written notice to each of the holders of the Notes delivered promptly, and in any event within twenty Business Days after the inclusion of such More Favorable Covenant in any Material Credit Facility (including by way of amendment or other modification of any existing provision thereof) from a Responsible Officer referring to the provisions of this Section 9.8 and setting forth a reasonably detailed description of such More Favorable Covenant (including any defined terms used therein) and related explanatory calculations, as applicable.

  • Permitted Modification shall have the meaning ascribed thereto in Section 4.02.