DIP Term Loan definition

DIP Term Loan means the superpriority priming term loan facility in an aggregate principal amount of up to $300 million made available to the Debtors under section 2.01(a) of the DIP Loan Agreement.

DIP Term Loan means that certain consensual superpriority senior secured debtor in possession credit facility consisting of new money non-amortizing term loans in an aggregate principal amount of $55,000,000 provided by the DIP Term Loan Lenders under the DIP Loan Agreement, on the terms and conditions set forth in the DIP Loan Agreement, as approved by the DIP Orders.

DIP Term Loan means the “Term Loan” as defined in the DIP Credit Agreement.

Examples of DIP Term Loan in a sentence

• In addition, on the Effective Date, the 3% exit fee under the DIP Term Loan Agreement shall be paid to the DIP Roll Up Lenders.

• Upon the payment or satisfaction of the Allowed DIP Term Loan Facility Claims in accordance with this Article II.B.2, all Liens and security interests granted to secure the Allowed DIP Term Loan Facility Claims shall be automatically terminated and of no further force and effect without any further notice to or action, order, or approval of the Bankruptcy Court or any other Entity.

• The DIP Term Loan Facility was used in part to repay in full the outstanding obligations under the Company’s existing ABL Facility.

• On the Effective Date, subject to entry of the Final DIP Order approving the DIP Term Loan Roll-up Claims, the Prepetition Term Loan Claims shall be deemed Allowed in the aggregate principal amount of $90,068,705.10, plus all interest (including any payment-in-kind interest), fees, and other expenses payable under the Prepetition Term Loan Agreement related to the Prepetition Term Loan Facility.

• The DIP Term Loan Agent shall retain all rights as DIP Term Loan Agent under the DIP Term Loan Documents in connection with the delivery of the distributions to the DIP Term Loan Lenders.

More Definitions of DIP Term Loan

DIP Term Loan means that certain $425,000,000 term loan component of the DIP Loan Credit Agreement, used by Sellers to repay, in full, certain prepetition first-lien indebtedness.

DIP Term Loan means that certain debtor in possession term loan entered into pursuant to the DIP Term Loan Agreement.

DIP Term Loan means the term loan provided under the DIP Facility.

DIP Term Loan. NOTE: See Section 3.5 hereof. -9-

DIP Term Loan. The term loan made or to be made by the Term Loan Lender to the Borrower on the Effective Date in the aggregate principal amount of $10,000,000 pursuant to Section 3.1 hereof.

DIP Term Loan has the meaning ascribed to it in Section 2.2(a) of this “Disqualified Stock” shall mean any Stock that, by its terms (or by the terms of any security or other Stock into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (a) matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise (except as a result of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a change of control or asset sale event shall be subject to the prior repayment in full of the Loans and all other Obligations that are accrued and payable and the termination of the Commitments), (b) is redeemable at the option of the holder thereof, in whole or in part, (c) provides for the scheduled payments of dividends in cash, or (d) is or becomes convertible into or exchangeable for Indebtedness or any other Stock that would constitute Disqualified Stock, in each case, prior to the date that is 180 days after the Maturity Date.

DIP Term Loan has the meaning specified in the recitals to this Agreement.