Existing DIP Facility definition

Existing DIP Facility means the revolving credit facility provided under the Existing DIP Credit Agreement.

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Existing DIP Facility means that certain Revolving Credit, Term Loan and Guaranty Agreement (as amended, restated, amended and restated, supplemented, extended or otherwise modified to the date hereof), dated as of December 24, 2002, among the Borrower, the Parent, the direct and indirect subsidiaries of the Borrower and Parent party thereto, the lenders from time to time party thereto, JPMCB and CITI, as co-administrative agents and co-collateral agents, and JPMCB, as paying agent.

Existing DIP Facility means the debtor-in-possession murabaha facility granted to AIHL pursuant to a master murabaha agreement dated 14 December 2012 and made between AIHL and CF ARC LL.

Examples of Existing DIP Facility in a sentence

Upon Consummation of the Plan of Reorganization and the making of the initial Loans, the Existing DIP Facilities shall have been repaid in full (or, in the case of any Existing DIP Facility Letter of Credit, cash-collateralized or guaranteed by a back-to-back letter of credit) and all action necessary to release all collateral pledged to secure the Loans shall have been taken, in form and substance reasonably satisfactory to the Administrative Agent.
Upon Consummation of the Plan of Reorganization and the making of the initial Loans or the initial Letters of Credit, the Existing DIP Facilities shall have been repaid in full (or, in the case of any Existing DIP Facility Letter of Credit, cash-collateralized or guaranteed by a back-to-back letter of credit), and all action necessary to release all collateral pledged to secure the Loans shall have been taken, in form and substance reasonably satisfactory to the Administrative Agent.
The proceeds of the Loans will be used on the Closing Date in accordance with the Reorganization Plan to repay the Existing DIP Facility and to pay transaction costs, fees and expenses related thereto.
The proceeds of the Loans and Letters of Credit shall be used to repay amounts outstanding under the Existing DIP Facilities or to provide back-to-back letters of credit or cash collateral in respect of the Existing DIP Facility Letters of Credit, to pay certain accrued administrative expenses, for working capital and for other general corporate purposes of the Borrower and the Guarantors (including for the payment of fees and transaction costs as contemplated hereby and as referred to in Section 2.19).
The proceeds of the Loans made on the Closing Date shall be used by the Borrowers (i) in accordance with the Reorganization Plan to repay the Existing DIP Facility and to pay transaction costs, fees and expenses related thereto and (ii) with respect to any remaining proceeds not applied pursuant to the foregoing clause (i), for general corporate purposes.
The parties will be filing a motion under Bankruptcy Rule 9019 seeking approval of a settlement of the Lender Litigation that includes, among other things, a release of claims against the lenders under the Existing DIP Facility and the Prepetition Facility.
Standard yield protection provisions consistent with and limited in form and substance to those in the Existing DIP Facility, subject to prompt notice and MFN requirements.
Intercreditor Agreement: Intercreditor arrangements between Citicorp North America, Inc., in its capacity as administrative and collateral agent for the lenders under the Existing DIP Facility, and the Junior DIP Agent shall be agreed and set forth in an intercreditor agreement and confirmed in the DIP Order (as defined below), each of which shall be in form, substance and scope reasonably satisfactory to the Lead Lenders and Citicorp North America, Inc.
This Court concludes that entry of this Final DIP Order is in the best interests of the Debtors’ respective estates and creditors as its K&E 18331031 implementation will, among other things, allow the Debtors to fund the administrative expenses of the Chapter 11 Cases, repay in full the Existing DIP Facility, and fund their working capital needs during the pendency of the Chapter 11 Cases.
Notwithstanding the repayment of the Existing DIP Facility and the Prepetition 1 In connection with the payment of the DIP Obligations and the Prepetition Debt, the Debtors, the Creditors’ Committee and the lenders under the Existing DIP Facility and the Prepetition Facility have reached an agreement to resolve the Lender Litigation.

More Definitions of Existing DIP Facility

Existing DIP Facility means that certain ▇▇▇▇▇▇▇ and Restated Super-Priority Debtor-in-Possession Term Loan Agreement, dated as of April 8, 2022 among Parent, the other Loan Parties party thereto, the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and certain others party thereto.

Existing DIP Facility means that certain Revolving Credit and Guaranty Agreement, dated as of February 5, 2002, among the Borrower, certain of the direct or indirect Subsidiaries of the Borrower signatory thereto, the financial institutions from time to time party thereto, JPMorgan Chase Bank, as agent and The CIT Group/Commercial Services, Inc., as collateral monitor, as amended.

Existing DIP Facility shall have the meaning provided in the Recitals.

Existing DIP Facility. As set forth below, the DIP Facility will satisfy in full all outstanding obligations under the Existing DIP Facility.

Existing DIP Facility has the meaning set forth in Section 2.11(a) of this Agreement.

Existing DIP Facility dated as of January 8, 2010, by and among the Borrower, the subsidiary guarantors party thereto, NexBank SSB, as administrative agent, and the lenders party thereto; and (iii) Debtors wish to obtain a replacement debtor-in-possession facility in an aggregate principal amount of $87,500,000 (the “DIP Facility”) in order to fund payment in full of all the obligations under the Existing DIP Facility, and to finance the working capital and certain permitted administrative expenses of the Debtors during the pendency of the Chapter 11 Cases, including for the period between entry of a confirmation order with respect to the Plan (as defined in Exhibit A), and consummation of the Plan. In that connection, you have requested that the DIP Lender commit to provide the DIP Facility. The DIP Lender is pleased to advise you of its commitment to provide the DIP Facility upon the terms and subject to the conditions set forth or referred to in this commitment letter (the “DIP Commitment Letter”) and in the Summary of Terms and Conditions attached hereto as Exhibit A (the “DIP Term Sheet”). Capitalized terms used and not defined herein have the respective meanings given thereto in the DIP Term Sheet. It is understood that amounts repaid or prepaid in respect of DIP Loans may not be reborrowed. The DIP Lender’s commitment hereunder is subject to (a) the DIP Lender not becoming aware after the date hereof of any information or other matter affecting the Borrower and its subsidiaries or the transactions contemplated hereby that, in the DIP Lender’s judgment, is inconsistent in a material and adverse manner with any such information or other matter disclosed to the DIP Lender prior to the date hereof, (b) the entry of an order (the “Approval Order”) by the Bankruptcy Court, in form and substance satisfactory to the DIP Lender, approving the execution of the Investment Agreement (the “Investment Agreement”) attached hereto as Exhibit B, which Approval Order, shall at all times be in full force and effect and not subject to a stay, reversal or other modification, (c) the entry of a final order (the “Final DIP Order”) by the Bankruptcy Court, in form and substance satisfactory to the DIP Lender, approving the DIP Facility and the terms and conditions thereof, including the DIP Loan Documents (as defined in the DIP Term Sheet), which Final DIP Order shall be, at all times, in full force and effect and not subject to a stay, reversal or other modification; provided, that if the DIP ...