Exit Term Loan means the new secured term loan that Reorganized OpCo will incur on the Effective Date in accordance with the Exit Facility Documents.
Exit Term Loan means that certain Term Loan Agreement, dated as of May 15, 2018 (as amended by that certain Amendment No. 1, dated as of April 18, 2019, that certain Amendment No. 2, dated as of May 1, 2019, that certain Amendment No. 3, dated as of August 15, 2019, that certain Amendment No. 4, dated as of February 21, 2020, and that certain Amendment No. 5, dated as of March 27, 2020, and as it may be further amended, supplemented or otherwise modified from time to time), by and among FGI Operating Company, LLC, the guarantors party thereto from time to time, Ankura Trust Company, LLC, as administrative agent and collateral agent and the lenders party thereto.
Exit Term Loan means a secured term loan in the amount of $150 million that will be entered into by the Debtors and the holders of Designated Post-Petition Loans on the Effective Date on substantially the terms set forth on Exhibit I.A.48.
Examples of Exit Term Loan in a sentence
Prior to the Effective Date, the Debtors will use reasonable efforts to obtain a private rating for the Exit Term Loan Facility.
From and after the Effective Date, the Reorganized Debtors, subject to any applicable limitations set forth in any post-Effective Date agreement (including the Exit ABL Documentation, the Exit Term Loan Documentation, and the New Organizational Documents), shall have the right and authority without further order of the Bankruptcy Court to raise additional capital and obtain additional financing as the boards of directors of the applicable Reorganized Debtors deem appropriate.
On the Effective Date, and without the need for any further corporate action or other action by Holders of Claims or Interests, the Reorganized Debtors shall enter into the Exit Term Loan Facility, the terms of which will be set forth in the Exit Term Loan Facility Documents.
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The Exit Term Facility shall be governed by the Exit Term Loan Credit Documents.
More Definitions of Exit Term Loan
Exit Term Loan means that certain senior secured exit term loan in a principal amount of $150,000,000, on terms acceptable to the Debtors and the Required Consenting Noteholders. Not less than $50,000,000 of the Exit Term Loan will be in the form of a new money investment to be made upon the Effective Date.
Exit Term Loan. Facility Secured term loan facility (the “Exit Term Loan Facility” or the “Exit Financing”), the holders thereof referred to as the “Lenders”, comprised of (i) term loans (the “Converted DIP Loan”) converted on a dollar-for-dollar basis from the loans under the Borrowers’ debtor-in-possession credit agreement (the “DIP Facility”) on the Closing Date (as defined below) and (ii) an additional incremental term loan (the “Incremental Exit Loan” and together with the Converted DIP Loan, the “Exit Term Loan”) in the principal amount of $30,000,000 to be funded on the Closing Date, proceeds of which will be used solely to fund (and be limited, as to amount, by) disbursements, costs and expenses required in connection with the Reorganization (as defined below), working capital and for other general corporate purposes of the Credit Parties, which principal amount of Incremental Exit Loan shall be reduced (x) dollar-for-dollar with the cash in the DIP Funding Account (as defined below) on the Closing Date, (y) to the extent that the “Requisite Commitment Parties” (as such term is defined in the Equity Commitment Agreement, dated as of October 4, 2015, between the Company and the other parties thereto (the “Equity Commitment Agreement”)) determine to increase the new equity investment amount in the Company above $10,000,000 and (z) at the election of the Requisite Commitment Parties, with the consent of the Borrowers. Exit Term Loans that are prepaid may not be reborrowed. The “Plan” means the Chapter 11 Plan of Reorganization and the related disclosure statement of the Credit Parties (collectively, the “Debtors”) to be filed with the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”), in form and substance satisfactory to the Required Lenders. The reorganization contemplated by the Plan is referred to herein as the “Reorganization.” Use of Proceeds The Exit Term Loan Facility will be used (i) to refinance all “Loans” under the DIP Facility on the Closing Date (i.e. the Converted DIP Loan) and (ii) with respect to the Incremental Exit Loan, to fund certain disbursements, costs and expenses in connection with the Reorganization and to provide working capital and for other general corporate purposes of the Credit Parties. Closing Date The date on which the Exit Term Loans are issued under the Exit Term Loan Facility and the Reorganization is consummated pursuant to the Plan (the “Closing Date”). Maturity The date that is 4 years after ...
Exit Term Loan means the ‘Term Facility A’ as defined in, and on the terms set forth in, the Restructuring Support Agreement, or otherwise reasonably acceptable to the Requisite Commitment Parties.
Exit Term Loan means the ‘Term Facility A’ as defined in, and on the terms set forth in, the Restructuring Support Agreement, or otherwise reasonably acceptable to the Requisite Commitment Parties. “Expense Reimbursement” has the meaning set forth in Section 3.3(a). “Filing Party” has the meaning set forth in Section 6.12(b). “Final DIP Order” means an Order authorizing use of cash collateral and/or debtor-in-possession financing on a final basis. “Final Order” means, as applicable, an Order of the Bankruptcy Court or other court of competent jurisdiction with respect to the relevant subject matter that has not been reversed, stayed, modified, or amended, and as to which the time to appeal or seek certiorari has expired and no appeal or petition for certiorari has been timely taken, or as to which any appeal that has been taken or any petition for certiorari that has been or may be filed has been resolved by the highest court to which the Order could be appealed or from which certiorari could be sought or the new trial, reargument, or rehearing shall have been denied, resulted in no modification of such Order, or has otherwise been dismissed with prejudice. “Financial Reports” has the meaning set forth in Section 6.5. “Financial Statements” has the meaning set forth in Section 4.9. “Funding Notice” has the meaning set forth in Section 2.4(a). “Funding Notice Date” has the meaning set forth in Section 2.4(a). 9
Exit Term Loan. Facility As defined in the Term Sheet. General Unsecured Claim Any Claim (other than an Administrative Claim, DIP Facility Claim, a Professional Fee Claim, a Secured Tax Claim, an Other Secured Claim, a Priority Tax Claim, an Other Priority Claim, a Credit Agreement Claim, a Notes Claim, an Intercompany Claim, or a Section 510(b) Claim) against one or more of the Debtors including (a) Claims arising from the rejection of Unexpired Leases and Executory Contracts to which a Debtor is a party, and (b) Claims arising from any litigation or other court, administrative or regulatory proceeding, including damages or judgments entered against, or settlement amounts owing by a Debtor related thereto. Governmental Unit As defined in section 101(27) of the Bankruptcy Code Holder An Entity holding a Claim or Interest in any Debtor. Impaired With respect to any Class of Claims or Interests, a Class of Claims or Interests that is impaired within the meaning of section 1124 of the Bankruptcy Code. Intercompany Claim A Claim held by a Debtor against another Debtor or an Affiliate of a Debtor or any Claim held by an Affiliate of a Debtor against a Debtor. Intercompany Interest An Interest in any Debtor, or a direct or indirect subsidiary of any Debtor, other than an Interest in Sungard AS. Interest Any any equity security as such term is defined in section 101(16) of the Bankruptcy Code, including all issued, unissued, authorized, or outstanding shares of capital stock and any other common stock, preferred stock, limited liability company interests, and any other equity, ownership, or profit interests of an Entity, including all options, warrants, rights, stock appreciation rights, phantom stock rights, restricted stock units, redemption rights, repurchase rights, convertible, exercisable, or exchangeable securities, or other agreements, arrangements, or commitments of any character relating to, or whose value is related to, any such interest or other ownership interest in an Entity whether or not arising under or in connection with any employment agreement and whether or not certificated, transferable, preferred, common, voting, or denominated “stock” or a similar security. Makewhole Amount With respect to the 2022 Term Loans, the amount equal to the calculation of the Acceleration Makewhole Premium as defined in and as set forth in the Credit Agreement. Management Cash Plan That certain or those certain long-term cash-based incentive plan(s), if any, adopted by Reorganiz...
Exit Term Loan. Any loan converted into an Exit Term Loan pursuant to Section 3.3 hereof.