Exit Revolver definition

Exit Revolver means the undrawn secured revolving credit facility that Reorganized OpCo will obtain on the Effective Date in accordance with the Exit Facility Documents.

Exit Revolver has the meaning set forth in the Restructuring Term Sheet.

Exit Revolver means the new “first lien” revolving credit facility in the amount of $675 million to be entered into on the Closing Date and in connection with the Debtors’ exit from bankruptcy and the consummation of the Plan.

Examples of Exit Revolver in a sentence

• Second Lien Notes In connection with the Company’s exit from bankruptcy and the consummation of the Restructuring, the Company6 will issue [$200]7 million in notes (the “Second Lien Notes” and together with the Exit Revolver, the “Exit Facilities”) secured by a second lien on the assets pledged under the Exit Revolver.

• Priority The Notes will be equal in right of payment with the Exit Revolver and other senior indebtedness of the Issuer and the Guarantors, without giving effect to collateral arrangements of secured indebtedness.

• On the Effective Date, the Guarantee and Collateral Agreement shall be amended and restated, if necessary, to provide for the grant of liens and security interests to secure the Exit Revolver.

• Except as otherwise provided in the Plan or the Confirmation Order, all consideration necessary for the Reorganized Debtors to make payments pursuant to the Plan shall be obtained from the existing Cash balances of the Debtors, the purchase price specified in the Investment Agreement, the Exit Term Loan, the Exit Revolver, and the operations of the Debtors or the Reorganized Debtors.

• On the Effective Date, the Exit Revolver Agreement shall be executed and delivered, and the Reorganized LodgeNet Interactive shall be authorized to execute, deliver and enter into the Exit Revolver Agreement, without the need for any further corporate action and without further action by the holders of Claims or Interests.

More Definitions of Exit Revolver

Exit Revolver means the credit facility, if any, to be entered into by Company pursuant to the Stand-Alone Plan, together with all notes, security agreements, mortgages, pledge agreements and guarantees delivered in connection therewith, as the same may be amended, restated, replaced, refinanced or extended from time to time; provided that the fees, pricing and documentation for the foregoing shall be in a form and on terms satisfactory to Administrative Agent and the Requisite Lenders. A credit facility shall be the Exit Revolver for purposes of this Agreement only if it contains a statement to the effect that it is the Exit Revolver for purposes of this Agreement.

Exit Revolver means a revolving credit facility, not inconsistent with the terms of the Exit Term Loan Term Sheet, in accordance with and subject to the terms and conditions set forth in the Exit Revolver Agreement.

Exit Revolver has the meaning set forth in Section 8(b)(iv).

Exit Revolver or "Exit Term Loan,"

Exit Revolver means a revolving credit facility with a lender to be identified as described in Section 5.12 of this Plan.

Exit Revolver means a secured first out revolver ranking senior in priority to the New Senior Secured Debt, which the Reorganized Debtors shall have the option to obtain, with the consent of the Majority Private Placement Parties, either in connection with or following the implementation of the Restructuring Transactions, of up to the greater of (i) $150 million or (ii) 50% of LTM EBITDA (pro forma for any acquisitions), with a total outstanding principal amount not to exceed $250 million. The Exit Revolver shall have the benefit of substantially the same guarantees and security as the New Senior Secured Debt. For purposes of this Plan, any provisions that apply to the Exit Revolver shall only apply if and to the extent the Exit Revolver is executed.

Exit Revolver means that certain senior secured revolving credit facility to be provided by the Exit Revolver Lenders pursuant to the terms of the New First Lien Credit Agreement.