Examples of Exit ABL Agent in a sentence
The Debtors, Reorganized Debtors, the DIP Agents, the DIP Lenders, the Prepetition ABL Agent, the Prepetition ABL Lenders, the Prepetition Term Loan Agent, the Prepetition Term Loan Lenders, the Exit ABL Agent, the Exit ABL Lenders, the Exit Term Loan Agent, the Exit Term Loan Lenders, the Owners, and each of their respective Representatives, shall be deemed to have acted in “good faith” under section 1125(e) of the Bankruptcy Code.
The Debtors, Reorganized Debtors, the DIP Agents, the DIP Lenders, the Prepetition ABL Agent, the Prepetition ABL Lenders, the Prepetition Term Loan Agent, the Prepetition Term Loan Lenders, the Exit ABL Agent, the Exit ABL Lenders, the Exit Term Loan Agent, the Exit Term Loan Lenders, the Owners, and each oftheir respective Representatives, shall be deemed to have acted in “good faith” under section 1125(e) of the Bankruptcy Code.
The Debtors, with the consent of the Requisite First Lien Creditors and the Exit ABL Agent (solely with respect to the Exit ABL Facility), and in consultation with counsel to the Committee, reserve the right to modify the Plan and seek Confirmation consistent with the Bankruptcy Code and the Bankruptcy Rules and, as appropriate, not resolicit votes on such modified Plan.
The Exit ABL Credit Agreement and the other Exit ABL Documents shall be prepared by counsel for the Exit ABL Agent, based upon and giving due regard to the documentation for the Borrower’s existing credit agreement, with such changes to substantially reflect the terms and provisions of this Exit Term Sheet in all material respects, to reflect the exit facility nature of the Exit ABL Facility, and shall otherwise be reasonably acceptable to the Exit ABL Lenders and the Debtors in all respects.
If Financials are restated and such restatement would result in a higher applicable margin being applicable, the Borrower shall pay any additional amounts that would have been due promptly following demand by the Exit ABL Agent therefor.
The Exit ABL Agent shall have received evidence reasonably satisfactory to it that there are no Liens encumbering any of the Loan Parties’ respective Property other than Permitted Liens (as defined in the Exit Facility Agreement) or Liens that will be released substantially contemporaneously with the Exit Facility closing date.
The Exit ABL Agent shall have received certificates of insurance naming the Exit ABL Agent as lender’s loss payee with respect to property insurance, and additional insured with respect to liability insurance, and covering the Borrower’s or its Subsidiaries’ Properties substantively consistent with the insurance requirements in the Existing Credit Agreement.
The Exit ABL Agent and the Exit Lenders shall have received all documentation and other information that is required by bank regulatory authorities under applicable “know your customer” and anti-money-laundering rules and regulations, including, without limitation, the Patriot Act, for each Loan Party, in each case no later than five (5) days prior to the Exit Facility closing date to the extent reasonably requested by the Lenders at least ten (10) days in advance of the Exit Facility closing date.
In addition, all reasonable, documented, out-of-pocket fees, costs and expenses (including but not limited to reasonable legal fees and documented, out-of-pocket expenses) of the Exit ABL Agent and the Exit ABL Lenders for workout proceedings and enforcement costs associated with the Exit ABL Facility are to be paid by the Borrower.
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