Lender Paydown definition

Lender Paydown means the product of (a) $305,195,000 in Cash minus the amount of any Glasscock Sale Proceeds paid to the Holders of Lender Claims on account thereof on or prior to the Effective Date (such $305,195,000, as the same may be so reduced, the “Net Cash Payment”); multiplied by (b) the Option 1 Participation Percentage minus (c) the amount of $31,250,000 in Cash actually received by the Administrative Agent for the Exit Term A Loans for the purchase of $31,250,000 in principal amount of Exit Term A Loans on the Effective Date, which $31,250,000 shall be retained by the Lenders that have elected Option 1.
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Lender Paydown means $305,195,000 in cash: (a) minus the amount of any Xxxxxxxxx Sale Proceeds paid to the holders of RBL Claims on account thereof on or prior to the Effective Date (such $305,195,000, as the same may be so reduced, the “Net Cash Payment”); and (b) minus (i) the aggregate amount of the Net Cash Payment the Option 2 RBL Lenders would have received had all such RBL Lenders elected Option 1 and (ii) the amount of $31,250,000 in cash actually received by the RBL Agent under the RBL for the purchase of $31,250,000 in principal amount of Term Facility A by certain Senior Note Backstop Parties on the Effective Date, which $31,250,000 shall be retained by the RBL Lenders that have elected Option 1.
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Lender Paydown means $305,195,000 in cash: (a) minus the amount of any Xxxxxxxxx Sale Proceeds paid to the holders of RBL Claims on account thereof on or prior to the Effective Date (such $305,195,000, as the same may be so reduced, the “Net Cash Payment”); and (b) minus (i) the aggregate amount of the Net Cash Payment the Option 2 RBL Lenders would have received had all such RBL Lenders elected Option 1 and (ii) the amount of $31,250,000 in cash actually received by the RBL Agent under the RBL for the purchase of $31,250,000 in principal amount of Term Facility A by certain Senior Note Backstop Parties on the Effective Date, which $31,250,000 shall be retained by the RBL Lenders that have elected Option 1. “Option 2 Pro Rata Share” means the proportion that the amount of an RBL Claim held by an RBL Lender that elects Option 2 bears to the aggregate amount of the RBL Claims held by all the RBL Lenders that elect Option 2. “Revolving Facility” means the Revolving Facility to be entered into on the Plan Effective Date by the RBL Lenders that have elected Option 1, having the terms set forth on Annex A to this Plan Term Sheet. It is understood that if all RBL Lenders elect Option 1, the Revolving Facility shall be in the aggregate committed amount of $850 million, which amount shall be deemed fully drawn as of the Plan Effective Date (prior to giving effect to any mandatory prepayments on account of the anti-hoarding covenant in the Revolving Facility), and if any RBL Lenders elect Option 2, such $850 million amount shall be reduced dollar for dollar by the commitment that would otherwise have been attributable to such Option 2 RBL Lenders had they elected Option 1. “Term Facility A” means the Term Facility to be entered into on the Plan Effective Date by the RBL Lenders that have elected Option 1, having the terms set forth on Annex A to this Plan Term Sheet. It is understood that if all RBL Lenders elect Option 1, the principal amount of the Term Facility A shall be in the aggregate amount of $125 million, and if any RBL Lenders elect Option 2, such $125 million amount shall be reduced dollar for dollar by the amount of such $125 million that would otherwise have been attributable to Option 2 RBL Lenders had they elected Option 1. Contemporaneously with the issuance of the Term Facility A, certain Consenting Senior Note Holders will, pursuant to the Backstop Commitment Agreement, purchase in cash, and the RBL Lenders that have elected Option 1 will sell, $31.25 million in...
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Examples of Lender Paydown in a sentence

  • The Second Prepetition LINN Lender Paydown, in turn, served to incentivize the LINN Lenders to enter into the Bank RSA, which permitted the LINN Debtors to enter chapter 11 in an organized and controlled fashion.

  • Accordingly, the First Prepetition LINN Lender Paydown and the Second Prepetition LINN Lender Paydown allowed the LINN Debtors to avoid the value destruction that likely would have resulted from a chapter 11 filing in the absence of an agreement with the LINN Lenders.

  • The Ad Hoc Group of LINN Second Lien Noteholders had no role in the LINN Debtors’ determination to make either the First Prepetition LINN Lender Paydown or the Second Prepetition LINN Lender Paydwon.

  • The New Investment will be made by the Participating Allowed Class 4 Claim Holders who choose to participate in the New Investment by exercising their Subscription Rights and will consist of $50.0 million in Cash which will be used to fund the Senior Lender Paydown on the Effective Date in accordance with the Bank Term Sheet.

  • The number of required queuing spaces required for specific uses is set forth on Chart 4.

  • The proceeds of the LINN Rights Offerings will be used to fund the LINN Lender Paydown as well as the Second Lien Cash Distribution.

  • For instance, the First Prepetition LINN Lender Paydown served as consideration for an amendment to the LINN Debtors’ First Lien Credit Agreements after a technical default by the LINN Debtors in March 2016 and afforded the LINN Debtors time to negotiate a comprehensive restructuring transaction prior to the Petition Date (i.e., the Bank RSA).

  • Each Holder of an Allowed Lender Claim that participates in the Exit Facility shall receive its Option 1 Pro Rata share of the (a) Exit Revolving Loans and the Revolving Commitments, (b) Exit Term A Loans (in the case of (a) and (b) by participating as a Lender under the Exit Facility), and (c) Lender Paydown, pursuant to Article III.B.4. The Exit Facility shall be on terms set forth in the Exit Facility Documents and consistent with the terms set forth in the Exit Facility Term Sheet.

  • Rather, each Holder electing Option 2 shall receive only its Option 2 Pro Rata Share of the Exit Term B Loans in a principal amount equal to the Pro Rata distribution it otherwise would have received with respect to the Lender Paydown, Exit Revolving Loans, and Exit Term A Loans.

  • Each Holder of an Allowed LINN Lender Claim that elects to participate in the LINN Exit Facility shall receive its Pro Rata share of (i) the LINN Exit Facility, and (ii) the LINN Lender Paydown, in each case pursuant to Article III.B.3 of the Plan.


More Definitions of Lender Paydown

Lender Paydown means the product of (a) $305,195,000 in Cash minus the amount of any Glasscock Sale Proceeds paid to the Holders of Lender Claims on account thereof on or prior to the Effective Date (such $305,195,000, as the same may be so reduced, the “Net Cash Payment”); multiplied by (b) the Option 1 Participation Percentage minus (c) the amount of
Sample 1

Related to Lender Paydown

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • Funding Lender means Citibank N.A., a national banking association, and any successor under this Funding Loan Agreement and the Borrower Loan Documents.

  • Loan Payment means any amount payable by the Loan Parties to the Bank pursuant to the Legal Agreements or these General Conditions, including (but not limited to) any amount of the Withdrawn Loan Balance, interest, the Front-end Fee, interest at the Default Interest Rate (if any), any prepayment premium, any transaction fee for a Conversion or early termination of a Conversion, any premium payable upon the establishment of an Interest Rate Cap or Interest Rate Collar, and any Unwinding Amount payable by the Borrower.”

  • Mandatory Prepayments has the meaning given to such term in Section 1.2(b).

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • Waivable Mandatory Prepayment shall have the meaning assigned to such term in Section 2.11(e).

  • Letter of Credit Usage means, as of any date of determination, the aggregate undrawn amount of all outstanding Letters of Credit.

  • Mandatory Prepayment shall have the meaning set forth in Section 2.1(c).

  • Mandatory Prepayment Amount for any Debentures shall equal the sum of (i) the greater of: (A) 130% of the principal amount of Debentures to be prepaid, plus all accrued and unpaid interest thereon, or (B) the principal amount of Debentures to be prepaid, plus all other accrued and unpaid interest hereon, divided by the Conversion Price on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is less, multiplied by the VWAP on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is greater, and (ii) all other amounts, costs, expenses and liquidated damages due in respect of such Debentures.

  • Advances Outstanding On any day, the aggregate principal amount of all Advances outstanding on such day, after giving effect to all repayments of Advances and the making of new Advances on such day.

  • Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Agent Advances has the meaning set forth in Section 2.3(e)(i).

  • Revolving Facility Lender means a Lender (including an Incremental Revolving Facility Lender) with a Revolving Facility Commitment or with outstanding Revolving Facility Loans.

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Borrower Loan means the mortgage loan made by the Governmental Lender to the Borrower pursuant to this Borrower Loan Agreement, in the maximum principal amount of the Borrower Loan Amount, as evidenced by the Borrower Note.

  • Credit Limit means the total dollar amount of the Account which we approved and which you may borrow against according to the terms of this Agreement.

  • First Lien Loans means the “Loans” (or any comparable term) as defined in the First Lien Credit Agreement.

  • Tranche A Lender means a Lender with a Tranche A Commitment or an outstanding Tranche A Term Loan.

  • Administrative Advance shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Loan repayment means the cancellation and repayment of loans