DIP Commitment definition

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

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

Examples of DIP Commitment in a sentence

• In addition, each DIP Commitment Party shall receive its Pro Rata share of the DIP Commitment Fee in accordance with the DIP Facility Orders.

• Among other things, the Approval Motions will seek approval of the execution by the Debtors of this Agreement and of the DIP Commitment Letter and the “DIP Loan Documents” referred to therein and authorization for the Debtors to incur and perform their obligations thereunder and hereunder and to execute such other documentation as may be required with respect to the transactions contemplated by such agreements.

• To fund the administration of these chapter 11 cases, the DIP Commitment Parties have agreed to provide debtor-in-possession financing (the “Proposed DIP Financing”) in the form of a postpetition credit facility which shall convert to the senior most tranche of a first lien facility upon emergence in accordance with the Restructuring Support Agreement (the “DIP-to-Exit Facility”).

• 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).

• The Debtors will pay a DIP commitment fee (the “DIP Commitment Fee”) to the DIP Commitment Parties in an amount of 5.0% of the New Equity in the form of New Class A Common Stock (as defined in the Plan), subject to dilution by the Management Incentive Plan.

More Definitions of DIP 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.

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. Letter As defined in this Restructuring Term Sheet.

DIP Commitment. Parties As defined in this Restructuring Term Sheet. DIP Lenders As defined in this Restructuring Term Sheet.

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 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.