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
The New First Lien Facility shall have a market rate of interest (which may be cash, paid in kind, or a combination of both) based on the size, credit profile and industry of the Reorganized Company, and shall contain such other terms and covenants as to be agreed upon among the Company and/or the Reorganized Company (as the case may be), the Requisite DIP Lenders and the Requisite Lenders and the lenders thereto.
More Definitions of New First Lien Facility
New First Lien Facility means a new first lien credit facility in form and substance acceptable to the Company and the Requisite Lenders.
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 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.
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 facility“New 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. In the event that the Reorganization Transaction is consummated, on the Plan Effective Date, the Reorganized Debtors shall enter into a new credit agreement (the “New First Lien Credit Agreement”) in respect of a new first lien term loan (the “New First Lien Term Loan”), on terms consistent with the New First Lien Term Sheet attached as Schedule 2 to this Term Sheet and otherwise satisfactory to the Requisite First Lien Lenders. The aggregate initial principal amount of the New First Lien Term Loan shall be equal to (i) the total outstanding debt of the Reorganized Debtors upon the Plan Effective Date in the amount of $400 million less (ii) the amount of the New Exit Loans (the “New First Lien Term Loan Amount”). The New First Lien Term Loan Amount shall be subject to change, with the consent of the Debtors and the Requisite First Lien Lenders, in the event that the Debtors’ Canadian business is sold. New Equity Interests: In the event that the Reorganization Transaction is consummated, on the Plan Effective Date, FCI shall issue new equity interests (the “New Equity Interests”) to the holders of First Lien Claims (in each case, subject to dilution from the Management Incentive Plan). The issuance and distribution of New Equity Interests shall be exempt from registration under the Securities Act of 1933 or applicable securities laws pursuant to section 1145(a) of the Bankruptcy Code and any other applicable exemptions.
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 under the First Lien Credit Agreement and the other First Lien Credit Documents and (ii) if no Third Lien Obligations (other than contingent indemnity obligations to the extent no claim giving rise thereto has been asserted) are to remain outstanding following the Agreed Repayment Closing Date, the obligations outstanding under the Second Lien Credit Agreement and the other Second Lien Credit Documents.
New First Lien Facility means a new term loan credit facility in the aggregate principal amount of $130 million, plus, at the Plan Sponsor’s sole discretion, the then-outstanding principal amount of the DIP Facility (subject to an overall cap of $20,000,000.00, to the extent the Plan Sponsor determines, in its sole discretion, to exchange or roll into the New First Lien Facility). Such credit facility shall be secured by a first-priority lien on substantially all of the Debtors’ assets. The New First Lien Facility shall mature on May 22, 2020, and shall accrue interest at LIBOR + 900 bps, with 100 bps LIBOR floor, per annum, paid in cash, plus 100 bps, paid in kind (i.e., added to principal).