DIP Commitment definition

DIP Commitment means the amount permitted to be advanced to the Debtors under this Agreement in an amount not exceeding the Maximum Commitment.

DIP Commitment means the commitment of a DIP Commitment Party to provide the DIP Facility in accordance with the terms set forth in the DIP Credit Agreement.

DIP Commitment means, as to any Lender, the obligation of such Lender to make DIP Loans and to participate in Swing Loans and Letters of Credit issued for the account of the Borrower hereunder in an aggregate principal or face amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 1 attached hereto and made a part hereof, as the same may be reduced or modified at any time or from time to time pursuant to the terms hereof. The Borrower and the Lenders acknowledge and agree that the DIP Commitments of the Lenders aggregate $450,000,000 on the date hereof.

Examples of DIP Commitment in a sentence

• In issuing this DIP Commitment Letter and in arranging and providing the DIP Facility, the DIP Agent, the DIP Arranger and the DIP Commitment Parties will be entitled to use, and to rely on the accuracy of, the Information and Projections furnished to them by or on behalf of the Debtors and their respective Related Persons without responsibility for independent verification thereof.

• Before taking any strategic decisions like launching new products, investments in new types of assets, the impact of such issues on the Company’s liquidity risk profile.

• Initial DIP Draw calculated to include Structuring Fee of 1% of total DIP Commitment of $60 million and Original Issue Discount ("OID") of 5% on Initial DIP Draw ($28.8 million).

• This DIP Commitment Letter shall become effective with respect to the DIP Commitment Parties agreements herein upon delivery of this DIP Commitment Letter to the Debtors, duly executed by the DIP Commitment Parties.

• This DIP Commitment Letter may not be amended, or any provision hereof waived or modified, except by written agreement signed by the Debtors and the Required DIP Commitment Parties (which amendment, waiver or modification may be effected via email); provided, that any amendment or other modification hereof that affects the rights or obligations of the DIP Agent or the DIP Arranger shall require the consent of the DIP Agent or the DIP Arranger, as applicable.

More Definitions of DIP Commitment

DIP Commitment means the commitment of the DIP Commitment Party to provide the DIP Facility in accordance with the terms set forth in the DIP Term Sheet.

DIP Commitment means the commitment of the DIP Commitment Parties to backstop the fundingof the DIP Facility.

DIP Commitment means, as to each Lender, its obligation to make a Loan to the Borrower hereunder, expressed as an amount representing the maximum principal amount of the Loan to be made by such Lender under this Agreement, as such commitment may be reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to an Assignment and Assumption. The initial amount of each Lender’s DIP Commitment is set forth on S chedule 1.01 under the caption “DIP Commitment” or, otherwise, in the Assignment and Assumption, pursuant to which such Lender shall have assumed its DIP Commitment, as the case may be. The aggregate amount of the DIP Commitments is $25,000,000.

DIP Commitment shall have the meaning ascribed to the term “DIP Term Loan Commitment” in the DIP Credit Agreement.

DIP Commitment means, with respect to each DIP Lender, such DIP Lender’s Commitment (as defined in the DIP Credit Agreement), which shall equal the amount set forth next to such DIP Lender’s name in the table attached hereto as Exhibit C.

DIP Commitment means the commitment by a Consenting First Lien Lender to provide a percentage of the DIP Facility in an amount not greater than the pro rata percentage of First Lien Loans held by such Consenting First Lien Lender as of the Agreement Effective Date.

DIP Commitment means, with respect to each Lender, the commitment of such Lender to make DIP Loans hereunder. The aggregate amount of the DIP Commitments as of the Closing Date is $175,000,000.