DIP Term Loans means with respect to each Lender, such Lender’s Term Loans (as defined in the Existing DIP Agreement) outstanding immediately prior to the occurrence of the Conversion Date.
DIP Term Loans means the multiple draw term loans provided under the DIP Term Loan Facility.
Examples of DIP Term Loans in a sentence
The automatic conversion of the DIP Revolving Credit Loans, DIP Term C Loans, DIP Term Letters of Credit, DIP Revolving Letters of Credit and DIP Term Loans into Loans and Letters of Credit hereunder, is subject to the satisfaction in all material respects or waiver by the Requisite DIP Roll Lenders of the conditions precedent set forth in this Section 6 (such date, the “Conversion Date”).
More Definitions of DIP Term Loans
DIP Term Loans with respect to each Lender, such Lender’s First Priority Term Loans (as defined in the Existing DIP Agreement) outstanding immediately prior to the occurrence of the Closing Date.
DIP Term Loans. Loans made pursuant to Section 2.1.2 hereunder by Xxxxxxx having DIP Term Loan Commitments. For the avoidance of doubt, the principal balance of outstanding DIP Term Loans, as determined from time to time, shall include all capitalized PIK Interest and the Upfront Payment which has been Paid in Kind on the Interim DIP Closing Date, as applicable.
DIP Term Loans shall have the meaning assigned to the term “Loans” in the DIP Term Loan Credit Agreement.
DIP Term Loans means the term loans borrowed under, and on the terms set forth in, the DIP Term Loan Credit Agreement.
DIP Term Loans and the commitments with respect to the DIP Term Loans shall be referred to as the “DIP Term Commitments.” The borrowing of DIP Term Loans shall automatically and permanently decrease the DIP Term Commitments on a dollar-for-dollar basis, and all DIP Term Loans repaid or prepaid may not be reborrowed. Voluntary and mandatory prepayments of DIP Term Loans shall be made on a pro rata basis to outstanding DIP Term Loans and reductions or terminations of DIP Term Commitments shall be made on a pro rata basis. The DIP Obligors or their subsidiaries will not be permitted to repurchase DIP Term Loans in the open market or otherwise. Each of the DIP Lenders shall (on a several but not joint basis) on the date on which the conditions precedent under “Conditions Precedent to the Closing Date” are satisfied (or waived by the Required DIP Backstop Parties) (such date, the “Closing Date”) make (or caused to be made) its ratable portion of the DIP Term Loans in an aggregate principal amount of $1,250 million available to the Borrowers in a single draw of DIP Term Loans, consisting of (i) DIP Term Loans (the “Tranche B DIP Term Loans”) in a principal amount equal to the amount of all Superpriority Term Loan Claims (which, for the avoidance of doubt, shall include any claim on account of principal, interest, the Make Whole Amount (as defined in the Superpriority Credit Agreement) or other outstanding Obligations (as defined in the Superpriority Credit Agreement) in respect of the Superpriority Term Loans) outstanding on the Closing Date and (ii) new money DIP Term Loans (the “Tranche A DIP Term Loans”) in a principal equal to the remaining amount of all DIP Term Loans. The DIP Term Loans and all other obligations under the DIP Facility shall be immediately due and payable on the Maturity Date.
DIP Term Loans has the meaning set forth in the Transaction Term Sheet.