New ABL Facility definition

New ABL Facility means the $75 million asset-backed revolving credit facility, the form of which shall be included in the Plan Supplement and shall have terms materially consistent with the terms on Exhibit C to the Restructuring and Support Agreement; provided, however, that any terms of the New ABL Facility that are not explicit in or consistent with the terms set forth in Exhibit C to the Restructuring and Support Agreement that will affect the nature, value, or form of the recovery to the Ad Hoc 8.625% Noteholders and the JPMorgan Noteholders shall be satisfactory to such Holders.

New ABL Facility means the exit asset-based revolving loan facility provided under the New ABL Credit Agreement as of the Effective Date.

New ABL Facility means, if applicable, a new asset based revolving credit facility to be provided to the Reorganized Debtors upon the Effective Date by the New ABL Facility Lenders pursuant to the New ABL Facility Documents.

Examples of New ABL Facility in a sentence

• Confirmation shall be deemed approval of New ABL Facility (including the transactions contemplated thereby, and all actions to be taken, undertakings to be made, and obligations to be incurred by the Reorganized Debtors in connection therewith) and authorization for the Reorganized Debtors to enter into and execute New ABL Facility documents, subject to such modifications as the Reorganized Debtors may deem to be reasonably necessary to consummate such New ABL Facility.

• To the extent any holder of a Claim described in the first sentence of this subsection fails to release the relevant liens as described above, the Reorganized Debtors may act as attorney-in-fact, on behalf of the holders of such liens, to provide any releases as may be required by any lender under the New ABL Facility or New Senior Secured Notes Indenture or for any other purpose.

• On the Effective Date, the Reorganized Debtors will obtain access to the New ABL Facility, which shall be reasonably satisfactory in form and substance to the Senior Secured Notes Steering Committee.

• Because the borrowing capacity under our New ABL Facility depends, in part, on the amount of our inventory and accounts receivable, which may fluctuate from time to time, such amount may not reflect actual borrowing capacity.

• The DIP ABL Claims shall be satisfied in full by either: (a) the conversion on the Effective Date of the DIP ABL Facility into the New ABL Facility in accordance with the terms and conditions of the DIP ABL Credit Agreement; or (b) the termination of all commitments, payment in full in Cash of all outstanding obligations and cash collateralization, return or backstopping of all letters of credit issued thereunder in a manner satisfactory to the DIP Agent.

More Definitions of New ABL Facility

New ABL Facility means the “New ABL Facility”, as such term is defined in the Investment Agreement, as such facility may be amended, restated, supplemented, modified or replaced from time to time, so long as such amendment, restatement, supplement, modification or replacement would not (i) result in the principal amount of Indebtedness at any time outstanding thereunder being greater than the sum of (x) the principal amount of the outstanding loans under the New ABL Facility (as in effect if and when first entered into in accordance with the Investment Agreement) to the extent the proceeds thereof were used for the Refinancing (as defined in the Investment Agreement) and the payment of the amounts referred to in clause (y) of the definition of New ABL Facility in the Investment Agreement, plus (y) $40,000,000, (ii) include provisions relating to the ability of the Corporation or its Subsidiaries to pay dividends at the Minimum Dividend Rate(s) in accordance with this Certificate or any amounts due pursuant to Section 6 or Section 8 that are more restrictive than those set forth in the New ABL Facility as in effect if and when first entered into in accordance with the Investment Agreement, or (iii) otherwise reasonably be expected to be materially adverse to the interests of the Preferred Holders.

New ABL Facility means the DIP ABL Facility rolled into a post-Effective Date facility or a new asset based revolving credit facility to be provided to the Reorganized Debtors upon the Effective Date by the DIP ABL Lenders pursuant to the New ABL Facility Documents.

New ABL Facility means the revolving credit facility to be provided pursuant to the New ABL Facility Credit Agreement.

New ABL Facility means the revolving, non-amortizing asset-based credit facility entered into by the Canadian ABL Borrowers and the U.S. ABL Borrowers with a syndicate of financial institutions, dated April 15, 2014.

New ABL Facility means a new loan agreement, security and related documentation arranged by the Plan Sponsor with not less than $125 million of borrowing availability (which, for greater certainty, excludes the Plan Funding Amount) to the Corporation and a wholly-owned Subsidiary or Affiliate of the Plan Sponsor, by the lenders thereunder, on terms and conditions satisfactory to the Plan Sponsor acting reasonably.

New ABL Facility means the $75 million asset-backed revolving credit facility, the form of which shall be included in the Plan Supplement.

New ABL Facility means the $375 million secured asset based financing facility to be entered into by the Reorganized Debtors on the Effective Date on prevailing market terms (as of November 13, 2020) that are acceptable or reasonably acceptable, as applicable pursuant to the Restructuring Support Agreement, to the Support Parties.