Examples of DIP Commitments in a sentence
Upon indefeasible payment in full of all DIP Obligations and termination of all DIP Commitments, (i) the Prepetition Secured Parties are hereby entitled to performance of those certain case milestones set forth in Section 5.16 of the DIP Credit Agreement (for such purposes, the “Adequate Protection Milestones”), and (ii) the Required Prepetition Lenders shall constitute the Requisite DIP Lenders for purposes of any amendment, extension, waiver or other modification of such Adequate Protection Milestones.
The Carve-Out TriggerCarve-Out Trigger Notice shall (i) be deemed a draw request and notice of borrowing by the Debtors for the DIP Loans under the DIP Commitments (on a pro rata basis based on the then outstanding DIP Commitments), in an amount equal to the Pre Notice Carve-Out Amount and also (ii) constitute a demand to the Debtors to utilize all cash on hand as of such date and any available cash thereafter held by any Debtor to fund a reserve in an amount equal to the Pre Notice Carve-Out Amount.
Notwithstanding the occurrence of an Event of Default, the Maturity Date, and/or termination of the DIP Commitments under the DIP Facility, all of the rights, remedies, benefits, and protections provided to the DIP Secured Parties under the DIP Documents and this Final DIP Order, as applicable, shall survive.
For the avoidance of doubt, (i) the amount funded inthe Post Notice Carve-Out Amount Reserve shall be capped at the Post Notice Carve-Out Amount whether funded by DIP Loans or cash on hand, and (ii) the funding requirements setforth in this paragraph 3(d) shall not cause the DIP Commitments to increase.
For the avoidance of doubt, (i) the amount funded in the Pre Notice Carve-Out Amount Reserve shall be capped at the Pre Notice Carve-Out Amount whether funded by DIP Loans or cash on hand, and (ii) the funding requirements set forth in thisparagraph 3(c) shall not cause the DIP Commitments to increase.