Examples of Junior DIP Lenders in a sentence
The Debtors or the Reorganized Debtors (as applicable) shall pay the reasonable fees and expenses incurred by the Junior DIP Agent and the Junior DIP Lenders in connection with the Chapter 11 Cases and the performance of their duties pursuant to the terms of the Plan Sponsor Agreement (as long as such duties are performed prior to the Effective Date) in accordance with the provisions of the Junior DIP Order and without further Order of the Bankruptcy Court.
The Debtors irrevocably waive any right to seek any amendment, vacatur, stay, modification or extension of this Interim Order without the prior written consent, as provided in the foregoing, of the DIP Agents, the Majority Junior DIP Lenders, the Required FLMO Term Lenders and the Required FLLO Term Lenders, and Ares to the extent such amendment, vacatur, stay, modification or extension is adverse to Ares.
Variances in excess of the Permitted Variance (as defined in each DIP Credit Agreement) from the Approved Budget, and any proposed changes to the Approved Budget, shall be subject to written agreement by the Debtors and the Senior DIP Agent and, so long as no Senior DIP Event of Default has occurred and is continuing, the Majority Junior DIP Lenders, in each case without further notice, motion or application to, order of, or hearing before, the Court.
It is the intent of this Section to continue to provide such "make whole" pension supplement and the provisions of such Article IX(2) of the Prior Company Plan are incorporated by reference and continue to apply hereunder, except as modified by other provisions of this Section 5.4.
Concurrently with the delivery of each Updated Budget, the Debtors shall deliver to the DIP Agents, the DIP Agents’ professional advisors, and the professional advisors to the Majority Junior DIP Lenders the weekly cash balance reporting and variance reporting required under the DIP Credit Agreements.
For the avoidance of doubt, no amendment, modification or update to an Approved Budget shall be effective without the approval of the Senior DIP Agent, Majority Senior DIP Lenders and, so long as no Senior DIP Event of Default (as defined below) has occurred and is continuing, the Majority Junior DIP Lenders, and in accordance with the terms of the applicable DIP Credit Agreements.
The Junior DIP Lenders shall receive the following distributions on the Effective Date in satisfaction of the Junior DIP Administrative Expenses: (x) the proceeds of the Rights Plan and (y) the Unsubscribed New Common Stock.
The Debtors paid to the Junior DIP Lenders a funding fee of $2 million and a facility fee of $500,000.
In connection with the appointment of Roger Pollazzi as Chief Operating Officer, certain members of the Creditors' Committee and/or their affiliates (the "Junior DIP Lenders") expressed a willingness to lend, on a subordinated basis, $25 million to the Debtors in the form of a term loan to support the Debtors' restructuring efforts and various initiatives proposed by Mr. Pollazzi.
Payment of Fees and Expenses of the Junior DIP Agent and Junior DIP Lenders 44 Section 13.10.