Examples of Exit Facility Collateral in a sentence
Obligations in respect of the New Term Loan Notes, together with the other obligations under the Exit Facility Credit Agreement, shall be secured by a first lien on the Exit Facility Collateral.
There can be no assurance that the Exit Credit Facility Agent will monitor, or that the Reorganized Debtors will inform the trustee or the Exit Credit Facility Agent of, the future acquisition of property and rights that constitute Exit Facility Collateral, and that the necessary action will be taken to properly perfect the security interest in such after-acquired Exit Facility Collateral.
Upon payment to the Holders of the Litigation Trust Interests of the aggregate Litigation Trust Beneficial Interest Principal Amount together with the Claims Return, any right, title and interest of the Litigation Trust with respect to the Litigation Trust Assets will automatically terminate and any such remaining Litigation Trust Assets will revert to the Reorganized Debtor and shall be Exit Facility Collateral if the Exit Facility should remain outstanding.
The failure to properly perfect liens on the Exit Facility Collateral could adversely affect the Exit Credit Facility Agent’s ability to enforce its rights with respect to the Exit Facility Collateral for the benefit of the holders of the Exit Credit Facility.
There can also be no assurance that the Exit Facility Collateral will be saleable, and, even if saleable, the timing of its liquidation would be uncertain.