New First Lien Term Loans definition

New First Lien Term Loans means the term loans advanced or deemed advanced to the Reorganized Debtors under the New First Lien Facility either as the Initial New First Lien Term Loan or the Additional New First Lien Term Loans.
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New First Lien Term Loans means the loans issued under the New First Lien Term Loan Facility. 116.“New Organizational Documents” means, collectively, the new organizational documents of theRestructured Debtors, including, but not limited to, the New Shareholders Agreement, and thecertificates of incorporation, bylaws, limited liability agreements, stockholders or similar agreements, operating agreements, charters, and other formation or constituent documents, as applicable, for Restructured Holdings, Restructured DESG and each of its direct or indirect subsidiaries, including, Creative Intermediate Holdco and Distribution Intermediate Holdco, each of which shall be in form and substance acceptable to the Debtors and the Requisite Consenting Creditors. 117.“New Shareholders Agreement” means the stockholders agreement, partnership agreement, or limited liability company agreement, as applicable, with respect to Restructured Holdings and the Restructured DESG Equity Interests, which agreement shall be effective as of the Effective Date, and the terms of which shall be in form and substance acceptable to the Debtors and the Requisite Consenting Creditors. 118.“New Second Lien Term Loan Facility” means that certain term loan facility to be provided either by
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New First Lien Term Loans in an aggregate original principal amount equal (x) the aggregate outstanding principal amount of the DIP Facility on the Plan Effective Date (as defined in the Transaction Support Agreement) less (y) the DIP Paydown Amount (as defined in the Chapter 11 Term Sheet). On the Plan Effective Date, each holder of DIP Facility Claims shall receive its pro rata share of the New First Lien Term Loans, as and to the extent set forth in the “Classification and Treatment of Claims” section of the Chapter 11 Term Sheet. No actual funding shall occur on the Plan Effective Date in respect of the New First Lien Term Loans. Once repaid or prepaid, no portion of the New First Lien Term Loans may be reborrowed.
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Examples of New First Lien Term Loans in a sentence

  • No amortization of the New First Lien Term Loans shall be required until after the date falling three (3) years from the Effective Date.

  • The New First Lien Term Loans will have a maturity date of five(5) years from the Effective Date and will bear interest at an annual rate of 8.5%.

  • At Reorganized Holdings’ option, until the date falling three (3) years after the Effective Date, the payment of interest on the New First Lien Term Loans may be satisfied through the payment-in- kind issuance of Additional New First Lien Term Loans.

  • The terms of the New First Lien Term Loans are governed by a Credit Agreement (the “New First Lien Credit Agreement”), dated as of the Settlement Date, among the Company the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and GLAS America LLC, as collateral agent, which provides that the New First Lien Term Loans will mature on July 15, 2025.

  • The terms and provisions of the New First Lien Term Loans and New First Lien Term Loan Commitments of any Series shall be, except as otherwise set forth herein or in the Joinder Agreement, identical to the First Lien Term Loans.

  • The New First Lien Term Loans will have a maturity date of five (5) years from the Effective Date and will bear interest at an annual rate of 8.5%.

  • Scheduled Amortization Commencing with the fiscal quarter ending March 31, 2022, 0.25% of the original principal amount of the New First Lien Term Loans, payable quarterly in a manner consistent with the Pre-Petition Facility Documentation.

  • Each scheduled payment by the Borrower on account of principal of or interest on New First Lien Term Loans shall be made pro rata according to the respective outstanding principal amounts of the New First Lien Term Loans then held by the New First Lien Term Lenders.

  • At Reorganized Knight’s option, until the date falling three (3) years after the Effective Date, the payment of interest on the New First Lien Term Loans may be satisfied through the payment-in-kind issuance of Additional New First Lien Term Loans.

  • The amount of each principal prepayment of the First Lien Term Loans and New First Lien Term Loans shall be applied to reduce the then remaining installments of the First Lien Term Loans and New First Lien Term Loans, as the case may be, in direct chronological order of maturity based upon the respective then remaining principal amounts thereof.


More Definitions of New First Lien Term Loans

New First Lien Term Loans means (x) a new term B loan credit facility anticipated to be in an aggregate principal amount of approximately $448,068,099.40 million and(y) a new term C facility anticipated to be in an aggregate principal amount of approximately$54 million, in each case made available to Reorganized MACH Gen pursuant to the New First Lien Facilities Documents.
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New First Lien Term Loans as defined in Section 2.24.
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New First Lien Term Loans means the $687.0 million and €200.0 million term loans established under the Senior Secured Facilities Agreement and drawn on or about the Issue Date.
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New First Lien Term Loans means, collectively, the New First Lien Tranche A Term Loans and New First Lien Tranche B Term Loans.
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New First Lien Term Loans and any all documents related thereto, the “New Term Loan Documentation”). The administrative agent and the collateral agent for the New First Lien Term Loan Facility shall be mutually reasonably acceptable to the Company and the Required Supporting Term Lenders in the event the Refinancing Loans (as defined below) are included as a separate tranche in the New First Lien Term Loan Facility. In the event the Refinancing Loans are governed by separate documentation from the New First Lien Term Loan Facility, the collateral agent for the New First Lien Term Loan Facility shall be mutually reasonably acceptable to the Company and the Required Supporting Term Lenders and the administrative agent for the New First Lien Term Loan Facility shall be reasonably acceptable to the Required Supporting Term Lenders and must qualify under Section 8.09 of the Existing Credit Agreement. For the avoidance of doubt, any indebtedness incurred in order to refinance the First Lien Revolver Loan Claims (the “Refinancing Loans”) may be included as a separate tranche in the New First Lien Term Loan Facility and, if so included, shall be subject to the same terms (other than economic terms) as the New First Lien Term Loans. Interest New First Lien Term Loans issued on account of First Lien Term Loan Claims maturing in 2024 shall accrue interest, from and after the Plan Effective Date, at a non-default rate equal to, at the Borrowers’ option, either LIBOR plus 525 bps, with a 75 bps LIBOR floor, or ABR plus 425 bps. New First Lien Term Loans issued on account of First Lien Term Loan Claims maturing in 2025 shall accrue interest, from and after the Plan Effective Date, at a non-default rate equal to, at the Borrowers’ option, either LIBOR plus 550 bps, with a 75 bps LIBOR floor, or ABR plus 450 bps.
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New First Lien Term Loans and the holders thereof referred to as the “New First Lien Lenders”). New First Lien Term Loans that are prepaid may not be reborrowed. Use of Proceeds A portion of the First Lien Credit Agreement Loans in the principal amount of $75 million will be converted dollar-for-dollar into the New First Lien Term Loans on the Closing Date. Closing Date The date on which the New First Lien Term Loans are issued under the New First Lien Term Loan Facility and the Restructuring Transaction is consummated pursuant to the Plan (the “Closing Date”). Maturity The date that is 5 years after the Closing Date (the “Maturity Date”).
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Related to New First Lien Term Loans

  • First Lien Term Loans means the “Term Loans” as defined in the First Lien Credit Agreement.

  • Second Lien Term Loans means the “Term Loans” under and as defined in the Second Lien Credit Agreement.

  • Refinancing Term Loans means one or more Classes of Term Loans that result from a Refinancing Amendment.

  • Refinancing Term Loan Commitments has the meaning assigned to such term in Section 2.26(a).

  • New Term Loan Facility means the facility providing for the Borrowing of New Term Loans.

  • Tranche B Term Loan Facility as defined in the definition of “Facility” in this Section 1.1.

  • Specified Refinancing Term Loans means Specified Refinancing Debt constituting term loans.

  • Tranche B Term Loans means the Loans made by Lenders to Company pursuant to subsection 2.1A(ii).

  • First Lien Loans means the “Loans” (or any comparable term) as defined in the First Lien Credit Agreement.

  • Incremental Term Loan Borrowing Date means, with respect to each Class of Incremental Term Loans, each date on which Incremental Term Loans of such Class are incurred pursuant to Section 2.01(b) and as otherwise specified in any amendment providing for Incremental Term Loans in accordance with Section 2.22.

  • Refinanced Term Loans shall have the meaning provided in Section 13.1.

  • Additional First Lien Obligations means all amounts owing to any Additional First-Lien Secured Party (including the Initial Additional First-Lien Secured Parties) pursuant to the terms of any Additional First-Lien Document (including the Initial Additional First-Lien Documents), including, without limitation, all amounts in respect of any principal, premium, interest (including any interest accruing subsequent to the commencement of a Bankruptcy Case at the rate provided for in the respective Additional First-Lien Document, whether or not such interest is an allowed claim under any such proceeding or under applicable state, federal or foreign law), penalties, fees, expenses, indemnifications, reimbursements, damages and other liabilities, and guarantees of the foregoing amounts.

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

  • Refinancing Term Lender has the meaning specified in Section 2.15(c).

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

  • Term Loan B has the meaning set forth in Section 2.2(b).

  • Refinancing Term Commitments means one or more term loan commitments hereunder that fund Refinancing Term Loans of the applicable Refinancing Series hereunder pursuant to a Refinancing Amendment.

  • Term Loans means, collectively, the Tranche A Term Loans and the Tranche B Term Loans.

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

  • Second Lien Loans means the “Loans” as defined in the Second Lien Credit Agreement and shall, for the avoidance of doubt, include Incremental Second Lien Loans.

  • Other Term Loan Commitments means one or more Classes of term loan commitments hereunder that result from a Refinancing Amendment.

  • New Term Loans as defined in Section 2.24.

  • Tranche B Term Loan Lender each Lender that has a Tranche B Term Loan Commitment or is the holder of a Tranche B Term Loan.

  • Tranche A Term Loan Lender each Lender that has a Tranche A Term Loan Commitment or is the holder of a Tranche A Term Loan.

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

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.