New ABL Credit Agreement means, on and after the Effective Date, that certain senior secured debtor in possession and exit amended and restated asset-based revolving credit agreement, dated April 15, 2014, by and among Holdings, MPM, Momentive Performance Materials USA Inc., as U.S. Borrower, Momentive Performance Materials GMBH, as Germany Silicone Borrower, Momentive Performance Materials Quartz GMBH, as Germany Quartz Borrower, Momentive Performance Materials Nova Scotia ULC, as Canadian Borrower, certain of the other Debtors, as guarantors, the DIP Agent, and the DIP Lenders, including any and all documents and instruments executed in connection therewith (in each case, as it may be amended, modified or supplemented from time to time on the terms and conditions set forth therein).
New ABL Credit Agreement means either (i) the Exit Facility Agreement, as defined in the DIP Credit Agreement, which shall be in form and substance consistent with the requirements set forth in the New ABL Credit Agreement Term Sheet or (ii) a new Credit Agreement among iHC, the DIP Subsidiary Borrowers, iHeart Capital I, the New ABL Credit Agreement Agent, and the New ABL Credit Agreement Lenders party thereto, to be effective on the Effective Date, the proceeds of which shall be used to pay in full in Cash all DIP Claims. The form of the New ABL Credit Agreement shall be included in the Plan Supplement and shall be in form and substance reasonably acceptable to the Required Consenting Senior Creditors, the Debtors, and, solely with respect to those terms and provisions that would have a material adverse effect on the value of the distributions to the Holders of 2021 Notes Claims, the Required Consenting 2021 Noteholders.
New ABL Credit Agreement means that certain credit agreement with respect to asset-based revolving and term loan credit facilities to be entered into on or about the Acquisition Closing Date by and among the Issuer, the guarantors party thereto, JPMorgan Chase Bank, N.A., as administrative agent and as collateral agent, and the lenders, agents and other parties party thereto, and including any related notes, Guarantees, collateral documents, instruments and agreements executed in connection therewith, and, in each case, as amended, restated, supplemented, waived, renewed or otherwise modified from time to time, and (if designated by the Issuer) as replaced (whether or not upon termination, and whether with the original lenders or otherwise), restructured, repaid, refunded, refinanced or otherwise modified from time to time, including (if designated by the Issuer) any agreement or indenture or commercial paper facilities with banks or other institutional lenders or investors extending the maturity thereof, refinancing, replacing or otherwise restructuring all or any portion of the Indebtedness under such agreement or agreements or indenture or indentures or any successor or replacement agreement or agreements or indenture or indentures or increasing the amount loaned or issued thereunder permitted under Section 4.09 hereof or altering the maturity thereof or adding Restricted Subsidiaries as additional borrowers or guarantors thereunder and whether by the same or any other agent, lender or group of lenders.
Examples of New ABL Credit Agreement in a sentence
If the Allowed DIP Claims become Converted DIP Claims, contemporaneously with such conversion, all liens and security interests granted to secure the obligations arising under the DIP Credit Agreement shall continue, remain in effect and be deemed to secure the obligations under the New ABL Credit Agreement Documents (the “Continuing Liens”).
DESCRIPTION OF OTHER INDEBTEDNESS New ABL Revolver Simultaneously with the issuance of the notes offered hereby, we expect to enter into the New ABL Credit Agreement governing the New ABL Revolver of up to $200.0 million with a five year maturity, which will replace our Existing ABL Revolver.
As part of the Transactions, we expect to enter into the New ABL Credit Agreement in order to, among other things, increase the total commitments to $200.0 million and extend the maturity until 2024.
The Reorganized Debtors shall have executed and delivered the New ABL Credit Agreement Documents and shall have issued the New ABL Credit Agreement Indebtedness in connection therewith.
Any letters of credit outstanding under the ABL Credit Facility shall be cash collateralized, backstopped and/or replaced with new letters of credit under the New ABL Credit Facility issued under the New ABL Credit Agreement.
More Definitions of New ABL Credit Agreement
New ABL Credit Agreement means, on and after the Effective Date, that certain senior secured exit amended and restated asset-based revolving credit agreement, to be dated on or about the Effective Date, by and among certain Reorganized Debtors, the New ABL Agent, and the New ABL Lenders, including any and all documents and instruments executed in connection therewith (in each case, as it may be amended, modified or supplemented from time to time on the terms and conditions set forth therein). The New ABL Credit Agreement shall be in form and substance substantially similar to the DIP ABL Credit Agreement and otherwise reasonably acceptable to the Debtors and the Required Holders and shall be filed as part of the Plan Supplement.
New ABL Credit Agreement means that certain [•].
New ABL Credit Agreement means that certain credit agreement related to the New ABL Facility, the form of which shall be included in the Plan Supplement.
New ABL Credit Agreement means that certain loan agreement memorializing the New ABL Facility, which shall be entered into among one or more of the Debtors or the Reorganized Debtors (as applicable) the New ABL Agent, and the New ABL Lenders, which shall be in form and substance acceptable to the Debtors or Reorganized Debtors, as applicable, and reasonably acceptable to the Tranche B Lenders and the New ABL Lenders.
New ABL Credit Agreement means the ABL Credit Agreement (which may, if agreed by the Debtors and the lenders and agents party thereto, take the form of an amendment and restatement of the Loan and Security Agreement dated June 1, 2015 in respect of the ABL Credit Facility) to be consummated on the Plan Effective Date consistent with the conditions contained in the New Term Loan Credit Agreement Term Sheet, which shall be in form and substance reasonably satisfactory to the Debtors and the Required Consenting Creditors and included, in substantially final form, in the Plan Supplement, as such agreement may be amended, modified or supplemented from time to time in accordance with the terms thereof.
New ABL Credit Agreement means the Credit Agreement, dated as of April 30, 2020, by and among, inter alia, Wells Fargo Bank, National Association, as Agent, the Company, as Parent, certain of the Company’s Subsidiaries, as Borrowers, and the lenders from time to time parties thereto, as in effect on the Effective Date.
New ABL Credit Agreement means the credit agreement governing the New ABL Credit Facility.