Maximum First Lien Principal Amount means the Maximum ABL First Lien Principal Amount plus the Maximum Floor Plan First Lien Principal Amount.
Maximum First Lien Principal Amount the sum of (a) the excess of (x) $97,680,000 plus an amount equal to 110% of the principal amount of all Incremental Revolving Loan Commitments (as defined in the First Lien Loan Agreement on the date hereof) established and 110% of the principal amount of all Incremental Term Loans (as defined in the First Lien Loan Agreement on the date hereof) made, in each case under the First Lien Loan Agreement as in effect on the date hereof over (y) the sum of (1) principal payments applied to term loans under the First Lien Loan Agreement that are First Lien Obligations, (2) permanent reductions of commitments under the revolving credit facility provided for in the First Lien Loan Agreement (excluding any permanent reductions in such commitments resulting from the commencement of any Insolvency Proceeding or resulting from the exercise by any or all of the First Lien Creditors of their right to reduce or terminate such commitments following the occurrence and during the continuance of any First Lien Default) (for the avoidance of doubt, excluding the Term Loan Conversion), so long as the principal amount of any revolving credit loans in excess of the revolving credit commitments as so reduced, and accrued, unpaid interest thereon, have been paid in full, excluding, in the case of (1) and (2) above, reductions resulting from a Refinancing or a “roll-up” of such Obligations in connection with a DIP Financing that is otherwise permitted in accordance with the terms of this Agreement, plus (b) amounts in respect of interest, fees, costs and premium (if any), in each case above accruing in respect of or attributable to, but only accruing in respect of or attributable to, the aggregate principal amount of the First Lien Obligations (including the undrawn amount of all Letters of Credit constituting First Lien Obligations and the aggregate original principal amount of any term loan that is a First Lien Obligation) at any one time not to exceed the amount referred to in clause (a) above, in each case that have been paid in-kind or capitalized plus (c) Obligations owing by Obligors to the First Lien Creditors under Cash Management Agreements (provided that the amount of such Obligations under such Cash Management Agreements at no time exceeds $500,000) or Secured Hedge Agreements.
Maximum First Lien Principal Amount the sum of (a) the excess of (x) $192,500,000, over (y) the aggregate amount of permanent reductions of commitments under the revolving credit facility provided for in the First Lien Loan Agreement (excluding any permanent reductions in such commitments resulting from the commencement of any Insolvency Proceeding or resulting from the exercise by any or all of the First Lien Creditors of their right to reduce or terminate such commitments following the occurrence and during the continuance of any First Lien Default), so long as the principal amount of any revolving credit loans in excess of the revolving credit commitments as so reduced has been paid in full, excluding reductions resulting from a Refinancing or a “roll-up” of such Obligations in connection with a DIP Financing, plus (b) amounts in respect of interest, fees, costs and premium (if any), in each case above accruing in respect of or attributable to, but only accruing in respect of or attributable to, the aggregate principal amount of the First Lien Obligations (including the undrawn amount of all Letters of Credit constituting First Lien Obligations) at any one time not to exceed the amount referred to in clause (a) above, in each case that have been paid in-kind or capitalized, plus (c) Obligations owing by Obligors to the First Lien Creditors under Secured Hedge Agreements, plus (d) Obligations owing by Obligors to the First Lien Creditors under Cash Management Agreements in an amount not to exceed $5,000,000 in the aggregate.
Examples of Maximum First Lien Principal Amount in a sentence
Nothing in this Agreement shall be construed to (x) prevent or impair the rights of any Secured Creditor to enforce this Agreement, or (y) waive any default or event of default under the Second Lien Loan Documents resulting from the incurrence of First Lien Loans under the First Lien Loan Documents with a principal amount in excess of the Maximum First Lien Principal Amount.
To the extent, but only to the extent, permitted by the provisions of each of the Debt Documents, any Obligor may incur or issue and sell one or more series or classes of Additional Debt; provided that the principal amount of Additional Debt outstanding or permitted to be borrowed or incurred shall not exceed the Maximum First Lien Principal Amount or the Maximum Second Lien Principal Amount, as applicable.
Nothing in this Agreement shall be construed to (x) prevent or impair the rights of any Secured Creditor to enforce this Agreement, or (y) waive any default or event of default under the Second Lien Transaction Documents resulting from the incurrence of First Lien Loans under the First Lien Transaction Documents with a principal amount in excess of the Maximum First Lien Principal Amount.
More Definitions of Maximum First Lien Principal Amount
Maximum First Lien Principal Amount means the original issue price of the Series B Notes, less principal payments received, plus the amount of interest paid in kind or otherwise capitalized, plus, in the event any DIP Financing is provided, an incremental amount equal to $5,000,000.
Maximum First Lien Principal Amount set forth in Section 1.1 of the Intercreditor Agreement is hereby amended and restated in its entirety to read as follows:
Maximum First Lien Principal Amount in Section 1 of the Intercreditor Agreement is hereby deleted and replaced with: “(a) $536,295,498, plus”
Maximum First Lien Principal Amount means the sum of (i) $95,697,308, plus (ii) that principal amount (not to exceed $25,000,000) advanced and then outstanding under the 2014 First-Lien Purchase Agreement.
Maximum First Lien Principal Amount means, as of any date of determination, (a) the greater of (I) $50,000,000 minus the aggregate amount of all proceeds from asset sales that are applied to repay permanently principal of loans under the First Lien Loan Agreement and, in the case of any such repayment of revolving loans, effect a corresponding and permanent reduction of commitments under the First Lien Loan Agreement and (II) the principal amount of Indebtedness permitted to be incurred in reliance on clause (1) of the definition of Permitted Debt under (and as defined in) the Initial Second Lien Indenture (as in effect on the date hereof (which, in either such event may be advanced prior to any Insolvency Proceeding and/or as a component of a DIP Financing), plus (b) Hedging Obligations, interest, fees, costs, expenses, indemnities and other amounts (other than principal and drawings or payments in respect of letters of credit, bankers’ acceptances and similar extensions of credit) payable pursuant to or secured under the terms of the First Lien Documents as in effect on the date hereof, or as amended, restated, supplemented, modified, replaced, substituted or renewed from time to time in accordance with this Agreement, whether or not the same are added to the principal amount of the First Lien Obligations and including the same as would accrue and become due but for the commencement of an Insolvency Proceeding, whether or not such amounts are allowed or allowable in whole or in part in any such Insolvency Proceeding.
Maximum First Lien Principal Amount means, as of any date of determination, (a) $66,000,000 minus (b) the sum of all principal payments of term loans constituting First Lien Obligations (including voluntary and mandatory prepayments) and permanent reductions of revolving loan commitments under the First Lien Documents after the date hereof plus (c) solely as a component of a DIP Financing, the additional amount permitted pursuant to Section 6.2(a)(iii) plus (d) interest, fees, costs, expenses, indemnities and other amounts payable pursuant to the terms of the First Lien Documents, whether or not the same are added to the principal amount of the First Lien Obligations and including the same as would accrue and become due but for the commencement of an Insolvency Proceeding, whether or not such amounts are allowed or allowable in whole or in part in any such Insolvency Proceeding.
Maximum First Lien Principal Amount and in Section 6.01(a)(ii) (and modifications to related definitions) to include such Additional First Lien Obligations in such cap limitations in a manner that is substantially identical to the treatment hereunder of the First Lien Loan Document Obligations and the First Lien Secured Obligations and the Super Senior Loan Document Obligations and the Super Senior Secured Obligations); and