Credit Bid Amount definition

Credit Bid Amount has the meaning set forth in Section 3.1(a).

Credit Bid Amount means, the lesser of (i) $20,000,000.00 and (ii) the product of (y)

Credit Bid Amount means $150,000,000 of First Lien Claims.

Examples of Credit Bid Amount in a sentence

• The Credit Bid Amount together with the assumption by Purchaser of the Assumed Liabilities shall constitute the “Purchase Price.” For the avoidance of doubt, there will be no adjustments to the aggregate Credit Bid Amount or the Purchase Price for any assets excluded from the Purchased Assets prior to the Closing Date pursuant to Section 8.17 or Section 8.18 due to any Title Defects or Environmental Defects.

• The Bankruptcy Court shall have approved and authorized the Purchaser’s ability, pursuant to Section 363(k) of the Bankruptcy Code, to credit bid the Credit Bid Amount in satisfaction of the Credit Bid Amount portion of the Purchase Price set forth in Section 1.6, and the order granting such approval shall not have been appealed, stayed, stayed pending appeal, modified, amended, reversed or vacated as of the Closing Date.

• Notwithstanding anything to the contrary herein, under no circumstances shall any portion of the Credit Bid Amount be converted into or otherwise require a cash payment.

• Subject to overbidding, the Purchase Price for the Acquired Assets shall be the Credit Bid Amount.

• For purposes of consideration of competing bids, the Sellers’ hereby agree that the Purchaser’s Credit Bid Amount shall be deemed to be equivalent to a cash bid in an amount equal to the Lenders Debt constituting the Purchaser’s Credit Bid Amount.

More Definitions of Credit Bid Amount

Credit Bid Amount means an amount equal to the aggregate DIP Indebtedness as of the Closing that is bid by Buyer pursuant to section 363(k) of the Bankruptcy Code, as allowed by Order(s) of the Bankruptcy Court.

Credit Bid Amount means the aggregate amount of (i) the outstanding principal balance of the Notes, (ii) all accrued and unpaid interest and late fees due under the Notes, (iii) all costs incurred by Pledgee in connection with the collection and enforcement of the Notes and the Mortgage and Ancillary Security Documents, together with any sums advanced by the Pledgee to protect the security of the Mortgage and/or any one or more of the Ancillary Security Documents, (iv) all amounts advanced by the Pledgor to protect the security of the Mortgage and/or any one or more of the Ancillary Security Documents, and (v) all costs incurred by Pledgor in connection with the exercise of the secured party's rights under the Ancillary Security Documents.

Credit Bid Amount means a Credit Bid in an amount equal to or less than the Lenders Debt.

Credit Bid Amount has the meaning set forth in Section 2.6(a).

Credit Bid Amount shall have the meaning set forth in Section 3.2(a). “Credit Documents” shall mean, collectively, the Prepetition Loan Documents and the DIP Documents. “Cure Amounts” shall mean all amounts payable that must be paid or otherwise satisfied to cure all of the Sellers’ monetary defaults under the Assumed Contracts at the time of the assumption thereof and assignment to Buyer pursuant to section 365 of the Bankruptcy Code. “Debt” shall mean, without duplication, (i) indebtedness or other obligations for borrowed money or in respect of loans or advances or issued in substitution for or exchange of indebtedness for borrowed money or loans or advances, whether short-term or long-term, secured or unsecured, (ii) any indebtedness or other obligations evidenced by any note, bond, debenture or other debt security or instrument, (iii) all obligations to pay the deferred purchase price of property or services, contingent or otherwise (including all “earn-out” obligations), (iv) all obligations under interest rate and currency hedging agreements, including swap breakage or associated fees, (v) all obligations arising from bankers’ acceptances, letters of credit (to the extent drawn) and cash/book overdrafts or similar facilities, (vi) all obligations for the payment of which a Person is responsible or liable, directly or indirectly, as obligor, guarantor or otherwise, including guarantees of such obligations, (vii) any obligations under leases that have been or are required to be, in accordance with GAAP, recorded as capital leases, (viii) any indebtedness or other obligations secured by a Lien on any Seller’s interest in any assets, and (ix) all accrued interest, premiums, penalties (including any prepayment penalties or premiums) and other obligations related to any of the foregoing. “Debtors” shall mean the Sellers as debtors in possession that filed the Cases. “Designation Notice” shall have the meaning set forth in Section 2.5(a). “Determination Deadline” shall have the meaning set forth in Section 2.5(a). “DIP Agent” shall mean Blue Torch Finance LLC, as administrative agent and collateral agent under the DIP Facility. “DIP Documents” shall mean that certain Superpriority Secured Debtor-in-Possession Financing Agreement by and among the DIP Lenders, the Sellers, and the DIP Agent and the other Loan Documents (as defined therein).

Credit Bid Amount means a credit bid by the Agent (as defined in the Prepetition Credit Agreement) or a subagent of such Agent under the Prepetition Credit Agreement on behalf of the related Lender Parties (as defined in the Prepetition Credit Agreement) in the full amount of the outstanding obligations under such Prepetition Credit Agreement, as authorized by the Prepetition Loan Documents.

Credit Bid Amount has the meaning set forth in Section 1.11. "Customer Deposits" has the meaning set forth in Section 5.12.