First Out Facility definition

First Out Facility means a Loan that (a) constitutes an Eligible First Lien Obligation, (b) consists of a term loan, (c) includes a First Lien/Last Out Term Obligation under a single credit agreement, (d) is secured on a pari passu basis with the First Lien/Last Out Term Obligation by a perfected, first priority security interest in substantially all of the assets of the related Obligor (subject to Purchase Money Liens and customary Liens for taxes or regulatory charges not then due and payable and other permitted Liens under the Related Documents), and (e) in the case of an event of default under the applicable Related Document, will be paid in full before one or more tranches of the related First Lien/Last Out Term Obligation issued by the same Obligor will be paid in accordance with a specified waterfall of payment.
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First Out Facility means that certain Fifth Amended and Restated Credit Agreement, dated as of the date hereof, among the Borrower, the Parent, the First-Out Agent, the Collateral Agent, the First-Out Lenders party thereto from time to time and the other agents and parties party thereto from time to time, and any permitted refinancing debt thereof.
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First Out Facility means a Loan that (a) constitutes an Eligible First Lien Obligation, (b)
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Examples of First Out Facility in a sentence

  • If the First Out Facility shall terminate prior to the Consummation Date, the covenants as set forth in Articles V and VI of the First Out Facility shall, from such time of termination (and notwithstanding such termination), remain in effect as negative covenants hereunder as they were in effect immediately prior to such termination.

  • N.A. is the DIP Agent for the First Out Facility and is located in New York.

  • If the First Out Facility shall terminate prior to the Consummation Date, the agreements as set forth in Article VII of the First Out Facility shall, from such time of termination (and notwithstanding such termination), remain in effect as affirmative and negative covenants hereunder as they were in effect immediately prior to such termination.


More Definitions of First Out Facility

First Out Facility means that certain Superpriority Secured Debtor-in-Possession Credit Agreement dated as of August 6, 2015 among, inter alios, the Borrower, the subsidiaries party thereto, the lenders party thereto from time to time, the issuing banks party thereto from time to time and the First Out Agent.
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Related to First Out Facility

  • Existing Facility means a facility in existence on any given date, newly constructed or altered.

  • Existing Facility Agreement has the meaning specified therefor in the recitals hereto.

  • Exit Facility means a credit facility that will be entered into by the City, the Exit Facility Agent and the other financial institutions party thereto on the Effective Date on substantially the terms set forth on Exhibit I.A.119.

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

  • LNG facility means a terminal which is used for the liquefaction of natural gas or the importation, offloading, and re-gasification of LNG, and includes ancillary services and temporary storage necessary for the re-gasification process and subsequent delivery to the transmission system, but does not include any part of LNG terminals used for storage;

  • Debt Facility means any Senior Facility and any Second Priority Debt Facility.

  • Replacement Revolving Facility has the meaning assigned to such term in Section 9.02(c)(ii).

  • Onshore facility means any facility any part of which is located in, on, or under any land of the state, other than submerged land, that because of its location, could reasonably be expected to cause substantial harm to the environment by discharging oil into or on the navigable waters of the state or the adjoining shorelines.

  • L/C Facility means the letter of credit facility established pursuant to Article III.

  • Refinancing Facility Agreement means a Refinancing Facility Agreement, in form and substance reasonably satisfactory to the Agent, among Holdings, the Borrower, each Subsidiary of the Borrower party to this Agreement, the Agent and one or more Refinancing Lenders, establishing Refinancing Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.26.

  • Cogeneration facility means a power plant in which the heat or steam is also used for industrial or commercial heating or cooling purposes and that meets Federal Energy Regulatory Commission standards for qualifying facilities under the Public Utility Regulatory Policies Act of 1978 (16

  • On-site facility means a structural BMP located within the subject property boundary described in the permit application for land development activity.

  • Acquisition Facility the Acquisition Facility Commitments and the extensions of credit thereunder.

  • Project Facility means facility being one or more of the following facilities as specified in the Special Conditions of Contract, being developed in accordance with the Project and the Detailed Project Implementation Report and includes all its buildings, equipment, facilities, software and systems and includes without limitation, where the circumstances so require, any expansion thereof from time to time and may include any new location to be separately mentioned in the Special Conditions of Contract.

  • New Term Loan Facility means the facility providing for the Borrowing of New Term Loans.

  • Credit Facility shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof.

  • Tanning facility means any premises, building, or part of a building that contains one or more rooms or booths with any of the following:

  • Off-site facility means a structural BMP located outside the subject property boundary described in the permit application for land development activity.

  • Maximum Facility Output means the maximum (not nominal) net electrical power output in megawatts, specified in the Interconnection Service Agreement, after supply of any parasitic or host facility loads, that a Generation Interconnection Customer’s Customer Facility is expected to produce, provided that the specified Maximum Facility Output shall not exceed the output of the proposed Customer Facility that Transmission Provider utilized in the System Impact Study.

  • Advance Facility Notice As defined in Section 3.22.

  • Term Loan Facilities means the Term Loan A Facility and the Term Loan B Facility.

  • Sub-acute facility means a facility that provides intermediate care on short-term or long-term basis.

  • Cannabis cultivation facility means a person that:

  • Replacement Revolving Facility Effective Date shall have the meaning assigned to such term in Section 2.21(l).

  • generation facility means a facility for generating electricity or providing ancillary services, other than ancillary services provided by a transmitter or distributor through the operation of a transmission or distribution system, and includes any structures, equipment or other things used for that purpose;

  • Refinancing Facility has the meaning specified in Section 2.16(a).