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

  • On the Effective Date, pursuant to sections 1141(b) and (c) of the Bankruptcy Code, all remaining property of the Debtors’ Estates shall vest in the Reorganized Debtors free and clear of all Claims, Liens, encumbrances, charges, and other interests, except as provided pursuant to the Plan, the Confirmation Order, the Litigation Trust Agreement, the New First Lien Credit Documents, or the New Exit Facility Credit Documents.

  • 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.

  • On the Effective Date, the Reorganized Debtors shall be authorized to execute, deliver, enter into and perform under the New Exit Facility Credit Agreement without the need for any further corporate, limited liability partnership or limited liability company action and without further action by the holders of Claims or Interests.

  • On the Effective Date, in full and final satisfaction of the DIP Claims, such claims shall be paid in full in Cash from the proceeds of the New Exit Facility.

  • 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.

  • 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.

  • The Debtors shall fund distributions and satisfy applicable Allowed Claims and Allowed Interests under the Plan with Cash on hand, the proceeds of the New Exit Facility, loans under the New First Lien Credit Facility, the New Equity Interests, and the Special Warrants, and through the issuance and distribution of the Litigation Trust Interests.

  • Xxxt Oxxxxx Box 1102 Xxxxx, Xxxxxxx 00000 Xx xxx Xxxxxxxxx xx xxx xxxxxxx xxxxxx xxxxx xxxxx xxxxxxn.

  • 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.

  • 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 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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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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Related to New Exit Facility

  • Exit Facility means a credit facility that will be entered into by the City, the Exit Facility Agent and the other financial institutions party thereto on the Effective Date on substantially the terms set forth on Exhibit I.A.119.

  • Exit Facilities means, collectively, the Exit ABL Facility and the Exit Term Loan Facility.

  • Exit Financing means the financing under the Exit Facility.

  • Exit Facility Documents means, collectively, the Exit Credit Agreement, and all other agreements, documents, and instruments delivered or entered into in connection with the Exit Facility, including any guarantee agreements, pledge and collateral agreements, UCC financing statements or other perfection documents, intercreditor agreements, subordination agreements, fee letters, and other security documents.

  • Exit Facility Agent means the agent under the Exit Facility.

  • Exit Facility Lenders means each of the lenders under the Exit Facility Credit Agreement, solely in their respective capacities as such.

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

  • Term Loan Facilities means the Term Loan A Facility and the Term Loan B Facility.

  • Incremental Facility Agreement means an Incremental Facility Agreement, in form and substance reasonably satisfactory to the Administrative Agent, among the Borrower, the Administrative Agent and one or more Incremental Lenders, establishing Incremental Term Loan Commitments of any Series or Incremental Revolving Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.20.

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

  • New Credit Facility is defined in Section 9.8.

  • Exit Facility Credit Agreement means the credit agreement, in substantially the form attached to this Plan as Exhibit B or Filed with the Plan Supplement, which credit agreement shall contain terms and conditions consistent in all respects with those set forth on the Exit Facility Term Sheet and, to the extent any terms and conditions are not set forth on or contemplated therein, such other terms and conditions as are acceptable to the Debtors and the Required Consenting Creditors in the manner set forth in the Plan Support Agreement.

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

  • Exit Facility Term Sheet means the Exit Facility Term Sheet attached as Exhibit 2 to Exhibit B of the Restructuring Support Agreement.

  • Bridge Facility means the Commitments and any Advances made thereunder.

  • 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.

  • Refinancing Facility Agreement means a Refinancing Facility Agreement, in form and substance reasonably satisfactory to the Agent, among Holdings, the Borrower, each Subsidiary of the Borrower party to this Agreement, the Agent and one or more Refinancing Lenders, establishing Refinancing Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.26.

  • 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.

  • Refinancing Transactions means the transactions described under “Summary—The Refinancing Transactions” in the Offering Memorandum.

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

  • 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 specified in Section 2.14(d).

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

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