New Second Lien Facility definition

New Second Lien Facility means that second-priority senior secured term loan in the principal amount of $500 million to be provided to the Reorganized Debtors on the Effective Date, under the terms of the New Second Lien Credit Documents, which shall be junior in lien priority to the Exit Facility.

New Second Lien Facility means the new second lien term loan that the Reorganized Fallbrook Parties shall enter into on the Effective Date.

New Second Lien Facility means the new second lien secured term loan facility having the terms set forth on the New Second Lien Facility Term Sheet.

Examples of New Second Lien Facility in a sentence

• As of the Effective Date, each of the Reorganized Debtors shall be deemed to have incurred the Exit Facility Obligations and the New Second Lien Facility Obligations pursuant to the Exit Credit Agreement and the New Second Lien Credit Agreement, respectively.

• The fair values of the New Term Loan Facility and New Second Lien Facility were determined using relevant market data as of the Effective Date and the terms of each of the respective instruments.

• On the Effective Date, the Reorganized Debtors shall enter into the New Credit Facilities: the Exit First Lien Credit Facility and the New Second Lien Facility.

• Notwithstanding anything contained in this Agreement to the contrary, nothing herein shall obligate the RCS Debtors or Non-RCS Debtors to execute or file any agreement, document, pleading or order, as the case may be, that materially conflicts with any of the DIP Facility Term Sheet, the Exit Facility Term Sheet, the New Second Lien Facility Term Sheet, the Plan Term Sheet or the Non-RCS Debtors Plan Term Sheet and, in each case, including all exhibits thereto.

• Each Holder of a Prepetition Lender Secured Claim against the Debtors shall receive its respective Pro Rata share of: (A) the New Second Lien Facility (in the event any of the Prepetition Lender Secured Claim is retained after the Effective Date of the Plan as debt); and(B) 100% of the New Falcon Interests (subject to dilution by the Management Incentive Plan and the DIP Claims to the extent the Plan Sponsor elects to convert the DIP Claims into New Falcon Interests).

More Definitions of New Second Lien Facility

New Second Lien Facility means a term loan in the principal amount of $55.0 million, of which

New Second Lien Facility means the second-lien facility contemplated by the Agreement in Principle, as may be amended in the Global Restructuring Agreement, proposed to be entered into on the Plan Effective Date by DCG, as borrower, and GGC, as lender.

New Second Lien Facility means a replacement second lien credit facility the proceeds of which are used to repay in full the obligations outstanding under the Second Lien Credit Agreement and the other Second Lien Credit Documents, if any 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.

New Second Lien Facility means the New Second Lien Facility Credit Agreement and all related guaranty, security, and other documents in form and substance reasonably acceptable to the Debtors, the Prepetition Lenders and the New Second Lien Lenders, to be entered into by the Reorganized Debtors on the Effective Date, for a credit facility in the aggregate principal amount of up to $0 million or in some other amount as may be agreed by the Debtors, and the New Second Lien Lenders in their sole discretion and disclosed in the Plan Supplement. The New Second Lien Facility shall be secured by second priority liens on substantially all of the Debtors assets upon the Effective Date, junior and subordinate to the liens under the Exit Facility in all respects.

New Second Lien Facility means the new $750 million credit facility (subject to reduction on account of the AOD Cash-Out), secured by a second lien on substantially all assets of the Reorganized Debtors and otherwise on the terms set forth in the New Second Lien Facility Finance Documents, to be entered into by the Reorganized Debtors on the Effective Date and distributed to holders of Credit Agreement Claims on account of their prepetition Credit Agreement Claims in the manner set forth in the Plan.

New Second Lien Facility has the meaning set forth in the preliminary statements to this Agreement.

New Second Lien Facility means a $150 million second lien senior secured term loan facility, the terms of which shall be reasonably acceptable to the Debtors and the Requisite Unsecured Lenders, provided that the New Second Lien Facility shall bear interest on a per annum basis of 10% payable in kind.