New First Lien Facility definition

New First Lien Facility means a senior secured first lien credit facility that shall be issued in accordance with the terms set forth in the New First Lien Facility Documentation.
New First Lien Facility means the new first lien exit facility that the Reorganized Fallbrook Parties shall enter into on the Effective Date.
New First Lien Facility means a new term loan lending facility providing for the issuance of the Initial New First Lien Term Loan and Additional New First Lien Term Loans from time to time which is to be entered into by the Reorganized Debtors having terms and conditions as summarized in Article IV.D and otherwise as agreed between the Debtors and the Majority Consenting Lenders as set forth in the Plan Supplement.

Examples of New First Lien Facility in a sentence

  • From and after the Effective Date, the Reorganized Debtors, subject to any applicable limitations set forth in any post-Effective Date agreement (including the New First Lien Facility Documentation, the New Second Lien Term Loan Documentation, and the New Organizational Documents), shall have the right and authority without further order of the Bankruptcy Court to raise additional capital and obtain additional financing as the boards of directors of the applicable Reorganized Debtors deem appropriate.

  • Holders of the subscription rights, which included the backstop parties (the “Backstop Parties” and together, the “Rights Offering Participants”), received the right to lend up to $300 million under the New First Lien Facility.

  • On the Effective Date, the New First Lien Facility Documentation and New Second Lien Term Loan Documentation shall constitute legal, valid, binding, and authorized obligations of the Reorganized Debtors, enforceable in accordance with their terms.

  • Except as otherwise provided in the Plan or Confirmation Order, all Cash required for the payments to be made hereunder shall be obtained from the Debtors’ and the Reorganized Debtors’ operations and Cash balances and, if necessary, proceeds of the New First Lien Facility.

  • If the sale of any property is effected prior to the Effective Date, such sale shall be consummated pursuant to section 363 of the Bankruptcy Code and the proceeds of such sale applied in accordance with Article III.B.3 and Article III.B.4 of the Plan.New First Lien Facility On the Effective Date, the Reorganized Debtors shall enter into the New First Lien Facility Documents forms of which shall be included in the Plan Supplement and are summarized below.


More Definitions of New First Lien Facility

New First Lien Facility means the new $300 million credit facility, secured by a first lien on substantially all the assets of the Reorganized Debtors and otherwise on the terms set forth in the New First Lien Facility Finance Documents, to be entered into by the lenders thereunder and the Reorganized Debtors on the Effective Date in exchange for Cash.
New First Lien Facility means the new first lien, first out term loan facility reflecting the terms and conditions set forth in the New First Lien Facility Term Sheet attached as Exhibit F to the Restructuring Support Agreement.
New First Lien Facility means a senior secured first lienone or more credit facilityies that shall be issuedentered into in accordance with the terms set forth in the New First Lien Facility Documentation.
New First Lien Facility means a $350 million (or such other amount that shall (x) provide for indefeasible repayment in full in Cash (with any postpetition interest accruing at the non-default rate) on the Effective Date of the Secured Term Loan Claims as set forth in Article III.B.4 hereof and (y) cover such other sources and uses necessary to fund emergence) first lien senior secured term loan facilityNew Secured Facility” means a new secured term loan facility or facilities (to be funded in any tranche or tranches necessary to raise such financing) in the amount of at least the Minimum Exit Cash Requirement and which shall be subject to increase by the New Secured Facility Upsize Amount, the terms of which shall be reasonably acceptable to the Debtors and the Requisite Unsecured Lenders.
New First Lien Facility means a replacement first lien credit facility the proceeds of which are used to repay in full (i) the obligations outstanding
New First Lien Facility means a new first lien term loan facility in an aggregate principal amount of $105 million to be provided to the Reorganized Debtors by the New First Lien Facility Lenders on the Effective Date pursuant to the New First Lien Credit Agreement, which shall be junior in lien priority to the Exit Term Loan Facility.