New Exit Facility definition

New Exit Facility means the new money senior secured credit facility in an aggregate principal amount up to $3,250 million and as otherwise described in Article IV.D.1 of this Plan.
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New Exit Facility means the facility arising pursuant to the New Exit Facility Credit Agreement.
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New Exit Facility means that certain new exit facility to be entered into by certain of the Company Parties and the lenders party thereto on the Effective Date pursuant to the New Exit Facility Term Sheet.
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Examples of New Exit Facility in a sentence

  • The interest rate, maturity date, and other terms of the New Exit Facility will be consistent with the Plan Support Agreement and otherwise reasonably acceptable to the Debtors, the Required Consenting Creditors, and the Requisite Backstop Parties.

  • Except as otherwise provided in the Plan or the Confirmation Order, all funds necessary to make Distributions pursuant to the Plan will be obtained from the Cash balances of the Debtors or the Reorganized Debtors on the Effective Date or such subsequent dates on which Distributions are payable and loan proceeds from the New Exit Facility.

  • Sources of Consideration for Plan Distributions The Reorganized Debtors, or Debtors, as applicable, shall fund distributions under the Plan with: (a) Cash on hand; (b) the issuance and distribution of Reorganized Windstream Equity Interests and Special Warrants; (c) proceeds of the New Exit Facility; (d) the First Lien Replacement Term Loans, as applicable; (e) subscription rights to participate in the Rights Offering; and (f) proceeds of the Rights Offering.

  • On the Effective Date, after giving effect to the transactions contemplated by the Plan, certain of the Reorganized Debtors will, on a consolidated basis, have approximately $320 million in secured indebtedness under the New Term Loan and an additional secured indebtedness under the New Exit Facility.

  • The interest rate, maturity date, and other terms of the New Exit Facility will be consistent with this Plan Term Sheet and otherwise reasonably acceptable to the Debtors, the Required Consenting Creditors, and the Requisite Backstop Parties.

  • Cash on Hand Cash distributions in accordance with this Plan Term Sheet shall be made from cash on hand as of the Plan Effective Date, including proceeds from the New Exit Facility Term Loan and the Rights Offering.

  • The Debtors also expect to obtain the financing necessary to fund plan distributions and to provide liquidity for their business going forward through the New Exit Facility, which is anticipated to be sufficient to satisfy all Cash payment obligations under the Plan.84.

  • On the Effective Date, all DIP Expenses shall be paid in Cash and the remaining DIP Claims will be converted into loans under the New Exit Facility Term Loan pursuant to the terms of the New Exit Financing Agreement.

  • The First Lien Replacement Term Loans, as applicable, will rank pari passu with and secured on substantially the same terms as the New Exit Facility Term Loan and have the same terms as the New Exit Facility Term Loan or such other terms as agreed by the Requisite Backstop Parties and the Debtors.On the Effective Date, the net cash proceeds of the remaining Required Exit Facility Term Loans (and other cash on hand held by the Debtors as of the Effective Date) will be:a.

  • The New Term Loan is subordinated only to the New Exit Facility and has a non-default interest rate of LIBOR + 775 bps (with a 125bps LIBOR floor), call protection at101/101/100, 2.5% annual amortization and a 75% excess Cash flow sweep (sweep counts toward the 2.5% amortization).


More Definitions of New Exit Facility

New Exit Facility means that certain new revolving line of credit to be provided to the Reorganized Debtors on the Effective Date, which may be provided under the terms of the New Term Loan Agreement (or, if not in the New Term Loan Agreement, other definitive documentation reasonably acceptable to the Required Consenting Holders and Exit Facility Lenders) and shall be senior to the New Term Loan.
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New Exit Facility means a reserve-based revolving lending facility to be provided, subject to the terms of the New Exit Credit Agreement or any Final Order approving the Initial DIP Facility, by (or deemed pursuant to the Plan to be provided by) the Consenting RBL Lenders on the Effective Date with a borrowing base of $55 million with a maturity date of 36 months and a 9-month borrowing base redetermination holiday consistent in all respects with the Restructuring Term Sheet, and once completed, the New Exit Facility Term Sheet and such other terms as may be agreed to by the Consenting RBL Lenders, Värde, and the Company Parties.
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New Exit Facility means a new senior secured amended and restated term loan facility and a new senior secured amended and restated revolving facility that shall become effective on the Effective Date of the Approved Plan.
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Related to New Exit Facility

  • Incremental Facility Closing Date has the meaning set forth in Section 2.14(d).

  • Incremental Facility has the meaning specified in Section 2.16(a).

  • Term Loan Facility means the Term Loan Commitments and the provisions herein related to the Term Loans.

  • Credit Facility shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof.

  • Loan Facility means the Revolving Loan Facility, the Transaction Specific Loan Facility or the Transaction Specific Revolving Loan Facility established by Lender in favor of Borrower under the Loan Documents.

  • Incremental Term Loan Facility has the meaning set forth in Section 2.16(a).

  • Incremental Facilities has the meaning assigned to such term in Section 2.22(a).

  • Existing Credit Facility means the credit facility evidenced by that certain Credit Agreement, dated as of October 26, 2006, by and among the Borrower, the lenders party thereto, and JPMCB, as administrative agent, as amended.

  • Incremental Facility Amendment has the meaning assigned to such term in Section 2.20(f).

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.15(a)(ii).