Exit Term Facility definition

Exit Term Facility means the senior secured term loan facility under the Exit Term Facility Loan Agreement.
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Exit Term Facility means that certain term loan credit facility, if any, to be provided to the Debtors or Reorganized Debtors, as applicable, pursuant to the Exit Term Loan Term Sheet and other Exit Term Facility Documents, and otherwise in accordance with the terms, and subject in all respects to the conditions, set forth in the Plan.
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Exit Term Facility means a term loan facility that constitutes either: (a) a replacement term loan facility pursuant to which the DIP Term Lenders consent to converting all of their outstanding DIP Term Claims and commitments under the DIP Term Facility into commitments under such Exit Term Facility on such terms and conditions reasonably satisfactory to the Debtors, the Requisite First Lien Creditors and the DIP Term Lenders or (b) a new term loan facility in an amount sufficient to indefeasibly repay in full in Cash, satisfy or fund, as applicable, on the Effective Date all amounts outstanding under the DIP Term Facility, and provides for the repayment of (i) all amounts outstanding under the FILO Note Claims and (ii) up to an additional $82 million, upon such other terms and conditions reasonably satisfactory to the Debtors and the Requisite First Lien Creditors; provided, however, that the Reorganized Debtors shall have minimum liquidity (including unrestricted Cash and availability under the Exit ABL Facility as of the Effective Date) of $65 million; provided, further, however, that the principal amount of the Exit Term Facility may be further increased with the prior written consent of the Requisite First Lien Creditors.
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Examples of Exit Term Facility in a sentence

  • On and after the Effective Date, the relative Lien, payment, and enforcement priorities of the Subordinated Notes Facility, the Exit ABL Facility and the Exit Term Facility shall be governed by the terms of the Subordinated Notes Intercreditor Agreement.

  • On and after the Effective Date, the relative Lien, payment, and enforcement priorities of (i) the Exit Term Facility and the Exit ABL Facility shall be governed by the terms of the Exit Intercreditor Agreement, and (ii) the Exit Term Facility, the Exit ABL Facility and the Subordinated Notes Facility shall be governed by the terms of the Subordinated Notes Intercreditor Agreement.

  • On and after the Effective Date, the relative Lien, payment, and enforcement priorities of (i) the Exit ABL Facility and the Exit Term Facility shall be governed by the terms of the Exit Intercreditor Agreement, and (ii) the Exit ABL Facility, the Exit Term Facility and the Subordinated Notes Facility shall be governed by the terms of the Subordinated Notes Intercreditor Agreement.

  • In Sh.Baijnath (Supra) relied on by the defendants the agreement to sell was for a flat on the 13th floor of the building and the agreement was contingent on sanction of plan of 13th floor by the authority who had not given the sanction.

  • On the Effective Date, the Reorganized Debtors shall execute and deliver the Exit Term Facility Documents, which shall become effective and enforceable in accordance with their terms and the Plan.

  • Although we expect the terms of the Exit ABL Facility and the Exit Term Facility to generally permit Boomerang to make distributions to New Holdco in an amount sufficient to satisfy New Holdco’s tax liabilities, it is possible that in any given year, New Holdco’s tax liability arising from its interest in Boomerang could exceed the distributions made by Boomerang to New Holdco.

  • Even if the Exit ABL Facility Agreement and the Exit Term Facility Agreement are entered into, any inability of the Reorganized Debtors to remain in compliance with their covenants thereunder could restrict the ability of the Reorganized Debtors to fully access the maximum amount that may be borrowed thereunder.

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  • In the event of any conflict between this summary and the Exit Term Facility Term Sheet, the Exit Term Facility Term Sheet shall control.

  • In establishing the register of lenders, commitments, and loans for the Exit Term Facility, the administrative and collateral agent under the Exit Term Loan Credit Documents shall be entitled to conclusively rely upon (without further inquiry) any certificate, schedule, register, list, or other document provided by the Debtors, the Reorganized Debtors and/or the Distribution Agent.


More Definitions of Exit Term Facility

Exit Term Facility means the senior secured term loan facility, in accordance with and subject to the terms of the Exit Term Loan Credit Agreement.
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Exit Term Facility means the credit facility provided for under the Exit Term Facility Agreement.
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Exit Term Facility. On the Exit Facility Conversion Date, the aggregate principal amount of any Prepetition RBL Claims of each Prepetition RBL Lender that is not a DIP Lender (if any, the “Term Lenders” and together with the Revolving Lenders, collectively, the “Lenders”) will automatically be converted to a non-amortizing, last-out term loan facility secured in a manner pari passu with the Exit Revolving Facility (the “Exit Term Facility”). The loans under the Exit Term Facility are collectively referred to as “Term Loans” and together with Revolving Loans, the “Exit Loans”. “Term Facility Amount” means, at any time from and after the Exit Facility Conversion Date, an amount equal to the aggregate outstanding principal of all Term Loans at such time. Without limiting the payment priority set forth in the mandatory and voluntary prepayment provisions below, all proceeds of Collateral (as 131
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Exit Term Facility means the term loan facility provided for under the Exit Term Facility Agreement.
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Exit Term Facility. On the Exit Facility Conversion Date, the aggregate principal amount of any Prepetition RBL Claims of each Prepetition RBL Lender that is not a DIP Lender (if any, the “Term Lenders” and together with the Revolving Lenders, collectively, the “Lenders”) will automatically be converted to a non-amortizing, last-out term loan facility secured in a manner pari passu with the Exit Revolving Facility (the “Exit Term Facility”). The loans under the Exit Term Facility are collectively referred to as “Term Loans” and together with Revolving Loans, the “Exit Loans”. “Term Facility Amount” means, at any time from and after the Exit Facility Conversion Date, an amount equal to the aggregate outstanding principal of all Term Loans at such time. Without limiting the payment priority set forth in the mandatory and voluntary prepayment provisions below, all proceeds of Collateral (as defined below) after the occurrence and during the continuance of an event of default shall be allocated, first, to pay all amounts outstanding under the Exit Revolving Facility (including, without limitation, interest, principal, fees, unreimbursed amounts drawn under Letters of Credit (as defined below) and cash-collateralization of undrawn Letters of Credit) and, second, to pay amounts outstanding under the Exit Term Facility. Swingline Facility: In connection with the Exit Revolving Facility, JPMCB (in such capacity, the “Swingline Lender”) will make available to the Borrower a swingline facility (the “Swingline Facility”) in U.S. dollars under which the Borrower may make short-term borrowings upon same-day notice ((so long as notice delivered by 3:00 pm New York City time) in a maximum amount at any time outstanding not to exceed $25,000,000 and in a minimum amount of $100,000 and integral increments of $10,000 in excess thereof, subject to customary notice requirements provided that no swingline loans shall be made if such swingline loan would cause the Total Revolving Outstandings to exceed the Revolving Loan Limit (as defined below). Except for purposes of calculating the commitment fee described below, any such swingline borrowings will reduce Availability (as defined below) under the Exit Revolving Facility on a dollar-for-dollar basis. Repayment of swingline loans must occur on or prior to the earlier of 15 business day after the making of such loan or the swingline maturity date. Upon notice from the Swingline Lender, the Revolving Lenders will be unconditionally obligated to purc...
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Related to Exit Term Facility

  • Initial Term Facility means the Initial Term Loan Commitment and the Initial Term Loans made hereunder.

  • Tranche B Term Loans means Loans made or deemed made by the Tranche B Term Lenders pursuant to Section 2.01(b) or pursuant to Section 1 of the First Amendment to 2009 Credit Agreement.

  • Tranche C Term Loan as defined in Section 2.1.

  • Tranche B Term Loan as defined in Section 2.1.

  • Initial Term Loan Facility means the Initial Term Loan Commitments and the provisions herein related to the Initial Term Loans.

  • Extended Term Loans has the meaning specified in Section 2.15(a).

  • Tranche A Term Loans means Loans made by the Tranche A Term Lenders pursuant to Section 2.01(a).

  • Incremental Term Facility has the meaning assigned to such term in Section 2.22(a).

  • Replacement Term Loans shall have the meaning provided in Section 13.1.

  • Initial Term Loans means the term loans made by the Initial Term Lenders to the Borrower pursuant to Section 2.01(a)(i).

  • Extended Term Loan shall have the meaning assigned to such term in Section 2.21(e).

  • Refinancing Term Commitments means one or more term loan commitments hereunder that fund Refinancing Term Loans of the applicable Refinancing Series hereunder pursuant to a Refinancing Amendment.

  • Tranche A Term Loan as defined in Section 2.1.

  • Tranche B Term Loan Exposure means, with respect to any Lender, as of any date of determination, the outstanding principal amount of the Tranche B Term Loans of such Lender.

  • Tranche C Term Loan Commitment means the commitment of a Lender to make a Tranche C Term Loan to Company pursuant to subsection 2.1A(iii), and "Tranche C Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Tranche A Term Loan Commitment means the commitment of a Lender to make a Tranche A Term Loan to Company pursuant to subsection 2.1A(i), and "Tranche A Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Tranche B Term Loan Commitments means such commitments of all Lenders in the aggregate. The amount of each Lender’s Tranche B Term Loan Commitment, if any, is set forth on Appendix A-2 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Tranche B Term Loan Commitments as of the Third Restatement Date is $600,000,000.

  • Tranche B Term Commitment as to any Tranche B Term Lender, the obligation of such Tranche B Term Lender to make an Initial Tranche B Term Loan to the Borrower in the principal amount set forth under the heading “Tranche B Term Commitment” opposite such Tranche B Term Lender’s name on Schedule 2.1 to this Agreement. The aggregate principal amount of the Tranche B Term Commitments as of the Closing Date is $1,025,000,000.

  • Initial Term Loan Commitment means, in the case of each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(b) as such Lender’s Initial Term Loan Commitment. The aggregate amount of the Initial Term Loan Commitments as of the Closing Date is $820,000,000.

  • Tranche A Term Commitment as to any Lender, the obligation of such Lender, if any, to make a Tranche A Term Loan to the Borrower on the Incremental Facilities Closing Date in a principal amount not to exceed the amount set forth under the heading “Tranche A Term Commitment” opposite such Lender’s name on Schedule 1.1A. The original aggregate amount of the Tranche A Term Commitments is $20,000,000.

  • Other Term Commitments means one or more Classes of term loan commitments hereunder that result from a Refinancing Amendment or Loan Modification Agreement.

  • Tranche B Term Loan Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan to the Borrower hereunder in a principal amount equal to the amount set forth on Schedule 1.01(b) (or in the case of any Continuing Tranche B Term Loan Lender, the amount of its Existing Tranche B Term Loan continued as a Tranche B Term Loans (as specified in its Term Loan Lender Addendum) pursuant to Section 2.01(b)(i).

  • Adjusted Total Term Loan Commitment means at any time the Total Term Loan Commitment less the Term Loan Commitments of all Defaulting Lenders.

  • Delayed Draw Term Loan Commitment Termination Date means the earliest to occur of (i) December 31, 2008, (ii) the date the Delayed Draw Term Loan Commitments are permanently reduced to zero pursuant to Section 2.1, and (iii) the date of the termination of the Delayed Draw Term Loan Commitments pursuant to Section 11.1.

  • Initial Term Loan shall have the meaning provided in Section 2.1(a).

  • Incremental Term Loan Facility has the meaning set forth in Section 2.16(a).