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.
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 the
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”).
Examples of New First Lien Term Loans in a sentence
Second-lien priority on all ABL Priority Collateral (pari passu with the New First Lien Term Loans).
Excess Cash Flow Sweep 75% of Excess Cash Flow annually (if applicable), pro rata between the New First Lien Term Loans and New First Lien Notes.
Collateral New Priority Collateral (i.e., same as New First Lien Term Loans).
Excess Cash Flow Sweep Offer 75% of Excess Cash Flow annually (if applicable), pro rata between the New First Lien Term Loans and New First Lien Notes.
Priority First-lien priority on all New Priority Collateral other than ABL Priority Collateral (pari passu with the New First Lien Term Loans).
More Definitions of New First Lien Term Loans
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.
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.
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
New First Lien Term Loans means, collectively, the New First Lien Tranche A Term Loans and New First Lien Tranche B Term Loans.
New First Lien Term Loans has the meaning set forth in the Term Sheet.
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.
New First Lien Term Loans as defined in Section 2.24.