New Second Lien Loans definition

New Second Lien Loans means those certain term loans to be extended or deemed extended pursuant to the New Second Lien Credit Agreement in the principal amount of $250 million plus the amount resulting from the accrual of interest on the principal amount of $250 million at a rate equal to the Adjusted LIBO Rate (as defined in the Second Lien Credit Agreement) plus 9% per annum during the period commencing on the Petition Date and ending on the effective date of the New Second Lien Credit Agreement.
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New Second Lien Loans issued under the New Second Lien Credit Facility (the “Rights Offering New Second Lien Loans”), at par;
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Examples of New Second Lien Loans in a sentence

  • All distributions of the Rights, the Rights Offering Common Stock, and the Rights Offering New Second Lien Loans under the Plan, as well as the Put Option Premium to the Backstop Parties, shall be made by the Disbursing Agent on behalf of the Reorganized Debtors.

  • Following entry of the Approval Order, Reorganized Erickson shall consummate the Rights Offering, through which holders of Allowed Existing Second Lien Claims that are Eligible Offerees shall be offered Rights to acquire Rights Offering Common Stock and Rights Offering New Second Lien Loans in accordance with the Rights Offering Procedures and the Backstop Agreement.

  • When any distribution pursuant to the Plan on account of an Allowed Claim or Allowed Interest (as applicable) would otherwise result in the issuance of a number of shares of New Common Stock that is not a whole number, the actual distribution of shares of New Common Stock shall be rounded down to the nearest whole share and the principal amount of all Rights Offering New Second Lien Loans will be rounded down to the nearest whole dollar.

  • These Rights entitle each Eligible Holder to purchase New Second Lien Loans, New Common Stock, or both, through the Rights Offering in a total amount up to its Pro Rata share of the New Money Investment, after accounting for the Backstop Holdback Equity (as described below).

  • On the Closing Date, the Company will issue (x) the number of shares of Rights Offering Common Stock to the Eligible Offerees with respect to which Rights were validly exercised by such Eligible Offerees and (y) any Rights Offering New Second Lien Loans with respect to the exercise of such Rights, all in accordance with the Rights Offering Procedures and this Agreement (the “Rights Offering Participants”).

  • In connection with the Plan, the Company shall issue Rights to subscribe for the Rights Offering Common Stock and any Rights Offering New Second Lien Loans.

  • They left Calcutta in June 1833.4Burney and Issue of Kabaw Valley In the First Anglo-Myanmar War, the British occupied Myanmar owned Kabaw Valley.

  • Dr. Enyew Negusie, a senior livestock researcher at the Finnish Natural Resource Institute who was the coordinator of the workshop, said that the core objective of the workshop was to create a forum for the exchange of experiences between Eritrean and Ethiopian livestock experts engaged in dairy value chain.

  • All principal amounts of Rights Offering New Second Lien Loans issuable to a Rights Offering Participant shall be rounded down to the nearest $1.00.

  • For the avoidance of doubt, the Put Option Premium will be payable regardless of the number of Backstop Shares (if any) or amount of Backstop New Second Lien Loans (if any) which are issued.

Related to New Second Lien Loans

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

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • First Lien Loans means the loans made under the First Lien Credit Agreement.

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

  • Refinancing Revolving Loans has the meaning assigned to such term in Section 2.26(a).

  • Refinancing Loans means the Refinancing Revolving Loans and the Refinancing Term Loans.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

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

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

  • Refinancing Term Loans shall have the meaning assigned to such term in Section 2.21(j).

  • Refinancing Term Loan Commitments shall have the meaning provided in Section 2.14(h).

  • Second Lien Bank Loan means a Bank Loan (other than a First Lien Bank Loan and a Last Out Loan) that is entitled to the benefit of a first and/or second lien and first and/or second priority perfected security interest on all or substantially all of the assets of the respective borrower and guarantors obligated in respect thereof.

  • Refinancing Lender means, at any time, any bank, other financial institution or institutional investor that agrees to provide any portion of any Credit Agreement Refinancing Indebtedness pursuant to a Refinancing Amendment in accordance with Section 2.28; provided that each Refinancing Lender (other than any Person that is a Lender, an Affiliate of a Lender or an Approved Fund of a Lender at such time) shall be subject to the approval of the Administrative Agent and each Issuing Bank (in the case of Other Refinancing Revolving Commitments or Other Refinancing Revolving Loans) (such approval not to be unreasonably withheld or delayed), in each case to the extent any such consent would be required from the Administrative Agent and each Issuing Bank (in the case of Other Refinancing Revolving Commitments or Other Refinancing Revolving Loans) under Section 10.4(b) for an assignment of Loans or Commitments to such Refinancing Lender.

  • Existing Revolving Loans has the meaning specified in Section 2.7(a).

  • New Revolving Loans as defined in Section 2.25.

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

  • Performing Second Lien Bank Loans means Second Lien Bank Loans which are Performing.

  • Refinancing Loan shall have the meaning provided in Section 2.14(h)(i).

  • Term Loans as defined in Section 2.1.

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

  • Second Lien Facility means the second lien term loan facility under the Second Lien Credit Agreement.

  • First Lien Last Out Loan means a loan that, prior to an event of default under the applicable Related Contract, is entitled to receive payments pari passu with other senior secured loans of the same Obligor, but following an event of default under the applicable Related Contract, such Collateral Loan becomes fully subordinated to other senior secured loans of the same Obligor and is not entitled to any payments until such other senior secured loans are paid in full.

  • Refinancing Revolving Commitments means one or more Classes of Revolving Loan commitments hereunder that result from a Refinancing Amendment.

  • Second Lien Indebtedness means the Indebtedness of the Loan Parties owing to the Second Lien Agent and the Second Lien Lenders under the Second Lien Credit Agreement, which Indebtedness is on terms and conditions reasonably acceptable to the Collateral Agent.

  • Permitted Junior Priority Refinancing Debt means secured Indebtedness (including any Registered Equivalent Notes) incurred by the Parent Borrower, and if applicable, any Co-Borrower, in the form of one or more series of junior priority secured notes or junior priority secured loans; provided that (i) such Indebtedness is secured by the Collateral on a second priority (or other junior priority) basis to the liens securing the Obligations and the obligations in respect of any Permitted First Priority Refinancing Debt and is not secured by any property or assets of a Borrower or any Restricted Subsidiary other than the Collateral, (ii) such Indebtedness may be secured by a Lien on the Collateral that is junior to the Liens securing the Obligations and the obligations in respect of any Permitted First Priority Refinancing Debt, notwithstanding any provision to the contrary contained in the definition of “Credit Agreement Refinancing Indebtedness,” (iii) a Senior Representative acting on behalf of the holders of such Indebtedness shall have become party to or otherwise subject to the provisions of the Intercreditor Agreements, (iv) such Indebtedness does not mature or have scheduled amortization payments of principal or payments of principal and is not subject to mandatory redemption, repurchase, prepayment or sinking fund obligations (except customary asset sale or change of control provisions that provide for the prior repayment in full of the Loans and all other Obligations), in each case prior to 91 days after the Latest Maturity Date at the time such Indebtedness is incurred, (v) such Indebtedness is not at any time guaranteed by any Subsidiaries other than Subsidiaries that are Co-Borrowers or Guarantors and (vi) the security agreements relating to such Indebtedness are substantially the same as or more favorable to the Loan Parties than the Collateral Documents (with such differences as are reasonably satisfactory to the Agent). Permitted Junior Priority Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).