Examples of DIP Term Credit Agreement in a sentence
Notwithstanding the foregoing, this Plan, as to the applicable Debtors party to the DIP Term Credit Agreement, is contingent upon the DIP Term Agent and the DIP Term Lenders either receiving the indefeasible payment in full in cash of their outstanding remaining DIP Facility Claims or agreeing to a different treatment of their DIP Facility Claims under this Plan, including accepting less than the full cash payment on account thereof, in each case subject to the terms of the CA Committee Settlement.
Each holder of a New Money DIP Claim will receive payment in full, in the applicable currency under the DIP Term Credit Agreement, of the unpaid portion of its claim on the Effective Date or as soon thereafter as is reasonably practicable.
Using the proceeds of the cash capital contributions and/or loans, on the Effective Date or as soon thereafter as is reasonably practicable, ADH and Aleris Aluminum Duffel BVBA shall pay all outstanding New Money Term DIP Claims in full in the applicable currency under the DIP Term Credit Agreement to the DIP Term Agent Bank for distribution to holders of New Money Term DIP Claims.
Notwithstanding the foregoing, for purposes of incorporating such sections into this Equity Commitment Agreement only, the definition of “ERISA Event” set forth in the DIP Term Credit Agreement shall be disregarded and replaced with the definition set forth on Schedule 7(m).
The DIP Term Agent, DIP ABL Lender and DIP Term Lenders are relying upon the CA Debtors’ compliance with the Budget in accordance with Section 5.20 of the DIP Term Credit Agreement and Section 4.3 of the Ratification Agreement, the other DIP Documents, and this Interim Order in determining to enter into the post-petition financing arrangements provided for herein.
Except as contemplated by the Plan, the Company agrees not to, and to cause the Company Subsidiaries not to, take any action described in Section 4041(c) of ERISA to effectuate a distress termination (as described in such section) of any “Plan” (as defined in the DIP Term Credit Agreement), without Oaktree’s prior written consent, which consent shall not be unreasonably withheld.
No priority or right of the DIP Term Agent or any DIP Term Lender shall at any time be prejudiced or impaired in any way by any act or failure to act on the part of any DIP ABL Borrower, any DIP ABL Guarantor, the DIP Term Borrower, or any DIP Term Guarantor or by the noncompliance by any Person with the terms, provisions, or covenants of the DIP Term Credit Agreement or any of the other DIP Term Documents, regardless of any knowledge thereof which the DIP Term Agent or any DIP Term Lenders may have.
The DIP Term Facility is deemed a partial “Refinancing” of the Prepetition Term Facility as such term is used in the Intercreditor Agreement, and any partial repayment of the Prepetition Term Obligations pursuant to this Interim Order through the DIP Term Credit Agreement shall not be deemed to constitute a “Discharge” of “Term Obligations” (as each is defined in the Intercreditor Agreement).
This Agreement is the Intercreditor Agreement referred to in the DIP ABL Credit Agreement and the DIP Term Credit Agreement.
The provisions relating to Priority and Liens set forth in Section 2.17 of the DIP Term Credit Agreement shall apply mutatis mutandis to the obligations under the DIP Term Notes, taking into account such modifications as are necessary to reflect the terms herein and in the DIP Term Notes.