Examples of First Lien Term Lender in a sentence
Absent the Creditors' Committee's negotiation of a $14 million carveout from the Term Lender Parties' Collateral, which carveout constitutes the First Lien Term Lender Contribution, General Unsecured Creditors would only be entitled to residual proceeds from the Unencumbered Assets and any Available Additional DIP Collateral Proceeds.
The First Lien Term Lender Parties shall also be entitled to receive the proceeds of the Residual Assets, and any amounts refundable to the First Lien Term Lenders under the terms of the Funding Agreement, the First Lien Term Loan and prior orders entered by the Bankruptcy Court.
The Term Lender Parties have agreed under the Committee Settlement and the Intercreditor Settlement to waive the right to receive (i) any part of the First Lien Term Lender Contribution and (ii) the proceeds of any Avoidance Actions (other than fifty percent (50%) of any Net Preserved Claim Proceeds).
Any Second Lien Term Loan Claims or Deficiency Claims of the Second Lien Term Lenders are subordinate to the First Lien Term Loan Claims and the Deficiency Claims of the First Lien Term Lender Parties.
Accordingly, the Second Lien Term Lenders shall receive no further Distributions on account of their Second Lien Term Loan Claims or Deficiency Claims unless and until the Deficiency Claims of the First Lien Term Lender Parties are paid in full.
The Liquidating Trust shall be deemed to be a "liquidation trust" within the meaning of the Committee Settlement for purposes of receiving and holding (i) the First Lien Term Lender Contribution, (ii) the proceeds of the Unencumbered Assets (subject to the prior satisfaction of all Allowed Priority Claims) and (iii) any Available Additional DIP Collateral Proceeds for the benefit of Class 7 General Unsecured Creditors.
The reasonable and necessary fees and expenses of the Post-Effective Date Committee and the reasonable and necessary fees and expenses of the professionals employed by the Post-Effective Date Committee in connection with its duties and responsibilities as set forth in this Plan shall be reimbursed from the First Lien Term Lender Contribution or the Liquidating Trust Operating Reserve, as applicable.
A-5Child LaborThe employment of child labor by the supplier is strictly prohibited, complying with ILO Convention 138 on the minimum age and Convention 182 on the elimination of the worst forms of child labor.
Thereafter, each payment (whether in respect of principal, interest or otherwise) made to such Holder as a New First Lien Term Lender also shall be madeas if such Holder’s Reorganized First Lien Term Loans had been issued on the date of the initial Loan Closing.
A copy of any Budget (or updated Budget) shall be delivered to counsel for the Creditors’ Committee, counsel to the Prepetition Agent, counsel to the Prepetition First Lien Notes Indenture Trustee, counsel to the First Lien Term Lender Ad Hoc Group, counsel to the Midwest Noteholder Group, counsel to the Second Lien Ad Hoc Committee, and the U.S. Trustee after it has been approved in accordance with the DIP Documents.