New First Lien Term Loan Facility definition

New First Lien Term Loan Facility means a new senior secured term loan facility in the aggregate principal amount of $75,000,000, on terms consistent with the New Secured TL Term Sheet.

New First Lien Term Loan Facility means the first lien term loan facility, the terms of which shall be set forth in the New First Lien Term Loan Agreement, which shall be in the original principal amount of $1,000,000,000 and shall be funded by the New First Lien Lenders on the Effective Date.

New First Lien Term Loan Facility means a takeback first lien term loan credit facility in an aggregate principal amount of $75,000,000.

Examples of New First Lien Term Loan Facility in a sentence

• The Plan Distributions to be made in Cash under the terms of this Plan shall be funded from: (a) the Debtors’ Cash on hand as of the Effective Date; (b) the proceeds of the New First Lien Term Loan Facility; (c) the proceeds of the Rights Offerings; (d) the proceeds of the New ABL Facility and (e) the proceeds of the Incremental Facility, to the extent necessary.

• An up to $305 million senior secured asset-based revolving credit facility, on terms at least as favorable to the Debtors and the lenders under the New First Lien Term Loan Facility as the Prepetition ABL Facility, as determined by the Requisite Consenting Lenders (as defined herein) in their reasonable discretion.

• Because the Plan provides that Holders of certain Claims will receive shares of the New Equity, the New First Lien Term Loan Facility, and/or the New ABL Facility, the amount of COD Income, and accordingly the amount of tax attributes required to be reduced, will depend on the fair market value of the New Equity, and the issue price of the New First Lien Term Loan Facility, and the New ABL Facility.

• If you are a partner of a partnership that is, or will be, a Holder of a Claim, the New Equity, or the New First Lien Term Loan Facility, then you should consult your own tax advisors.

• The following discussion assumes that each Holder of a Claim holds its New Equity or New First Lien Term Loan Facility, as applicable, as a “capital asset” within the meaning of Section 1221 of the IRC.

More Definitions of New First Lien Term Loan Facility

New First Lien Term Loan Facility means that certain term loan facility to be provided either by (a) the DIP Term Facility Lenders, and/or (b) third parties acceptable to the Debtors and the Requisite Consenting Creditors, in each case, upon terms and conditions consistent with those set forth in the Restructuring Support Agreement and otherwise acceptable to the Requisite Consenting Creditors.

New First Lien Term Loan Facility means the secured term loan facility or series of secured term loan facilities generally conforming to the "New Term Loan" described in the Offering Circular. For the avoidance of doubt, a "New First Lien Term Loan Facility" does not include any revolving credit facility.

New First Lien Term Loan Facility the credit agreement evidencing the New First Lien Term Loan Facility, the “New First Lien Credit Agreement”. The New First Lien Term Loan Facility will be subject to (a) the approval of the Bankruptcy Court and (b) emergence by the Loan Parties from the Chapter 11 Cases on the Plan Effective Date, in accordance with (i) the Plan, (ii) any order entered by the Bankruptcy Court authorizing the Loan Parties to enter into the New First Lien Term Loan Facility, which order may be part of the order confirming the Plan, each of which shall be in form and substance reasonably acceptable to the Requisite New First Lien Lenders (as defined below), and (iii) the New First Lien Term Loan Facility Documentation (as defined below) to be executed by the Loan Parties, the Administrative Agent (as defined below) and the New First Lien Lenders (as defined below). Borrower Reorganized Xxxxx Incorporated, a Wisconsin corporation (the “Borrower”). Guarantors All of the obligations of the Borrower under the New First Lien Term Loan Facility shall be guaranteed by Xxxxx Industries, Inc., Xxxxx Partners Holdings, Inc., Xxxxx Holdings Inc. I, Milsco, LLC, Xxxxxx, LLC, Xxxxxxxxx Manufacturing Co., Inc., Xxxxx International Holdings, Inc. and each other Borrower’s existing and future direct parent companies and wholly-owned domestic subsidiaries of the Borrower (collectively, the “Guarantors”; and Guarantors, together with the Borrower, the “Loan Parties”). All obligations of the Borrower under the New First Lien Term Loan Facility will be unconditionally guaranteed on a joint and several basis by the Guarantors. Guarantor requirements following the Closing Date to be substantially identical to the Pre-Petition Facility Documentation (as defined below), including exceptions with respect to excluded subsidiaries.

New First Lien Term Loan Facility means the new term loan facility, to be entered into on the Closing Date, under which the Borrower shall issue the Exchange First Lien Loans. #99449566v26

New First Lien Term Loan Facility means a $280 million first lien senior secured term loan facility, composed of (i) the New First Lien Term Loan A-1 Tranche and (ii) the New First Lien Term Loan A-2 Tranche, the material terms of which are set forth in Exhibit B to the Restructuring Term Sheet and the forms of which shall be included in the Plan Supplement.

New First Lien Term Loan Facility means a new first lien term loan facility on the terms set forth on the New 1L Facilities Term Sheet attached as Exhibit B to the Restructuring Term Sheet, with a face amount equal to the face amount of (a) the DIP Term Loan Claims (including all PIK interest accrued thereunder through the Plan Effective Date) plus (b) the First Lien Term Loan Claims (including all PIK interest accrued thereunder through the Plan Effective Date).

New First Lien Term Loan Facility means the new term loan facility, to be entered into on the Closing Date, under which the Borrower shall issue the Exchange First Lien Loans.