Examples of Exit Loan Agreement in a sentence
On the Effective Date, the proceeds shall be used to fund payments required to be made under the Plan and any proceeds not required to fund payments under the Plan shall be retained by the Reorganized Debtors and shall be used for general corporate purposes, subject to any restrictions that are placed on use of such funds by the Exit Loan Agreement.
On the Effective Date, LodgeNet Interactive will enter into the Exit Loan Agreement, which shall contain terms consistent with the Exit Term Loan Term Sheet and shall otherwise be in form acceptable to Purchaser Representative and the Requisite Consenting Lenders.
On the Effective Date or as soon as practicable thereafter and without need for any further action, the Reorganized Debtors may, subject to the terms of the Exit Loan Agreement, (i) cause any or all of the Debtors to be merged into one or more of the Reorganized Debtors, dissolved or otherwise consolidated, (ii) cause the transfer of assets between or among the Reorganized Debtors, or (iii) engage in any other transaction in furtherance of the Plan.
On the Effective Date, pursuant to sections 1141(b) and (c) of the Bankruptcy Code, all property of the Debtors’ estates shall vest in the Reorganized Debtors free and clear of all Claims, liens, encumbrances, charges and other interests, except as provided pursuant to this Plan, the Confirmation Order, the Exit Loan Agreement, the Exit Revolver Agreement and the Amended and Restated Guarantee and Collateral Agreement.
On the Effective Date, each holder of an Allowed Class 2 Prepetition Lender Claim shall receive, in full and final satisfaction of its Prepetition Lender Claim, its pro rata share of the Exit Term Loan, allocated between the Exit Term A Loan and the Exit Term B Loan in the manner set forth in the Exit Loan Agreement.
The Company shall repay to the Agent for the ratable account of each applicable Lender on the Termination Date the aggregate principal amount of the Loans made (or deemed made) by such Lender to the Company then outstanding, together with any accrued and unpaid interest with respect to such Loans (other than to the extent that the New Money Loans and Junior Loans are converted to loans under the Exit Facility in accordance with the terms of this Agreement and of the Exit Loan Agreement).
The Company shall repay to the Agent for the ratable account of each applicable Lender on the Termination Date the aggregate principal amount of the Loans made (or deemed made) by such Lender to the Company then outstanding (other than to the extent that the First Lien Last OutNew Money Loans and Junior Loans are converted to loans under the Exit Facility in accordance with the terms of this Agreement and of the Exit Loan Agreement).
On the Effective Date, the Exit Loan Agreement shall be executed and delivered, and the Reorganized LodgeNet Interactive shall be authorized to execute, deliver and enter into the Exit Loan Agreement in connection with the distribution to holders of Class 2 Prepetition Lender Claims, without the need for any further corporate action and without further action by the holders of Claims or Interests.
From and after the Effective Date, the Reorganized Debtors shall be vested with all property of the respective Estates, free and clear of all Claims, Liens, encumbrances, charges and other interests, except as and to the extent provided pursuant to the Plan, this Confirmation Order, the Exit Loan Agreement, the Exit Revolver Agreement, and the Amended and Restated Guarantee and Collateral Agreement.
Upon entry into the Exit Loan Agreement, all security documents executed in connection with the Prepetition Credit Agreement, including the Guarantee and Collateral Agreement shall be amended or amended and restated, as may be necessary, to conform to the terms of the Exit Loan Agreement, and shall remain in full force and effect, and all Liens, rights, interests, duties and obligations thereunder shall survive the Effective Date and shall continue to secure all obligations under the Exit Loan Agreement.