Discharge of DIP Obligations definition

Discharge of DIP Obligations means the occurrence of (a) all Commitments shall have been terminated and (b) the principal of and interest on each Loan and all other expenses or amounts payable under any Loan Document shall have been paid in full in cash (other than in respect of contingent indemnification and expense reimbursement claims not then due).
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Discharge of DIP Obligations means (a) the indefeasible payment in full in cash of all DIP Obligations (other than contingent indemnity obligations for which no claim for payment has been made (which indemnity obligations continue to survive as expressly provided in this Agreement or in any other Loan Document)), (b) termination or expiration of all Commitments, and (c) termination of this Agreement other than indemnity and reimbursement obligations which expressly survive the termination hereof.
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Discharge of DIP Obligations means (a) the indefeasible payment in full in cash of all DIP Obligations (other than contingent indemnity obligations for which no claim for payment has been made (which indemnity obligations continue to survive as expressly provided in this Agreement or in any other Financing Document), (b) termination or expiration of all Commitments and (c) termination of this Agreement other than indemnity and reimbursement obligations that expressly survive the termination hereof.
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Examples of Discharge of DIP Obligations in a sentence

  • Until Discharge of DIP Obligations, the Borrower will not, and will not permit any Credit Party to, use the proceeds of the Loans or cash collateral to pay Prepetition Secured Obligations, except as permitted by the DIP Orders or this Agreement.

  • All obligations of the Borrower or any other Loan Party provided for in Section 2.10, Section 2.11, Section 2.13(c), Section 11.1 and Section 11.2 and all of the obligations of the Lenders in Section 8.5 shall survive any termination of this Agreement and Discharge of DIP Obligations.

  • Upon the Discharge of DIP Obligations, all obligations under the Loan Documents and all security interests created by the Security Documents shall be automatically released.

  • June 1 and December 1 Record Dates: May 15 and November 15 Dated: May 18, 2004 ALPHA NATURAL RESOURCES, LLC By: ____________________________________ Name: Title: ALPHA NATURAL RESOURCES CAPITAL CORP.

  • If any amount shall be paid to a Guarantor in violation of the preceding sentence at any time prior to the Discharge of DIP Obligations, such amount shall be held in trust for the benefit of the DIP Secured Parties and shall forthwith be paid to the DIP Agent to be credited and applied to the Guaranteed Obligations and any and all other amounts payable by the Guarantors under this Guaranty, whether matured or unmatured, in accordance with the terms of the Loan Documents.

  • This power, being coupled with an interest, is irrevocable until the Discharge of DIP Obligations.

  • The obligations of the Borrower under this Section 5.15 shall remain in full force and effect until the DIP Obligations have been repaid in full and the Discharge of DIP Obligations has occurred.

  • Until the Discharge of DIP Obligations, the Borrower will not, and will not permit any Loan Party to, use the proceeds of the Loans, the Letters of Credit or cash collateral to pay Prepetition Secured Obligations, except as permitted by the DIP Orders or this Agreement.


More Definitions of Discharge of DIP Obligations

Discharge of DIP Obligations means (a) the indefeasible payment in full in cash of all DIP Obligations (other than (i) contingent indemnity obligations for which no claim for payment has been made (which indemnity obligations continue to survive as expressly provided in this Agreement or in any other Loan Document), (ii) Hedge Obligations as to which arrangements satisfactory to the applicable Swap Counterparty in its sole discretion have been made and (iii) Banking Services Obligations as to which arrangements reasonably satisfactory to the applicable Banking Services Provider in its reasonable discretion have been made), (b) termination or expiration of all Commitments, (c) termination of this Agreement other than indemnity and reimbursement obligations which expressly survive the termination hereof, (d) each Letter of Credit has expired or has been cash collateralized, back-stopped or otherwise secured to the satisfaction of the applicable Issuer, (e) termination of all Hedging Arrangements other than Hedging Arrangements as to which arrangements satisfactory to the applicable Swap Counterparty in its sole discretion have been made, and (f) termination of all Banking Services Obligations other than Banking Services Obligations as to which arrangements reasonably satisfactory to the applicable Banking Services Provider in its reasonable discretion have been made.
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Related to Discharge of DIP Obligations

  • First Priority Obligations means (a) with respect to the Existing First Priority Agreement, all “Obligations” of each Loan Party as defined in the Existing First Priority Agreement and (b) with respect to each other First Priority Agreement, all “Obligations” of each Loan Party as defined in such First Priority Agreement, and shall in any event include (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all loans made or other indebtedness issued or incurred pursuant to such First Priority Agreement, (ii) all reimbursement obligations (if any) and interest thereon (including without limitation any Post-Petition Interest) with respect to any letter of credit or similar instruments issued pursuant to such First Priority Agreement, (iii) all Specified Swap Agreements, (iv) all Specified Cash Management Agreements and (v) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the applicable First Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any First Priority Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, any Second Priority Secured Party, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Priority Secured Parties and the Second Priority Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred.

  • Loan Obligations means (a) the due and punctual payment by the Borrower of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans made to the Borrower under this Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and obligations to provide Cash Collateral and (iii) all other monetary obligations of the Borrower owed under or pursuant to this Agreement and each other Loan Document, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), and (b) the due and punctual payment of all obligations of each other Loan Party under or pursuant to each of the Loan Documents.

  • Senior Obligations is defined in Section 5.1 of this Agreement.

  • Junior Obligations means the Junior Obligations of the Guarantor and the Junior Obligations of the Issuer;

  • First Lien Obligations means, collectively, (i) the Credit Agreement Obligations and (ii) each Series of Other First Lien Obligations.