New Second Lien Term Loan definition

New Second Lien Term Loan means the loans provided for by the New Second Lien Term Loan Documentation which will be secured by a lien on and security interest in all or substantially all of the assets and properties of PRG Inc. and its domestic subsidiaries, subject to certain customary permitted liens.
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New Second Lien Term Loan means $210 million new second lien secured term loan that Reorganized Parker will obtain on the Effective Date under the New Second Lien Term Loan Agreement.
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New Second Lien Term Loan means the second lien term loan facility provided under the New Second Lien Term Loan Agreement, the terms of which shall be set forth in the New Second Lien Term Loan Agreement, and which second lien term loan facility shall (a) mature on the date that is last day of the sixty-sixth (66) month after the Effective Date, (b) be in the original principal amount of $50,000,000, and (c) be issued to the holders of Senior Secured Notes Claims on account of such Senior Secured Notes Claims.
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Examples of New Second Lien Term Loan in a sentence

  • On the Effective Date, without any requirement of further action by security holders or directors of the Debtors, each of the Reorganized Debtors shall be authorized to enter into the New Second Lien Term Loan Agreement, as well as any notes, documents or agreements in connection therewith, including, without limitation, any documents required in connection with the creation or perfection of the liens on collateral securing the New Second Lien Term Loan.

  • The Reorganized Debtors’ ability to make payments on and to refinance their debt, including the obligations under each of the New First Lien Term Loan and the New Second Lien Term Loan, and the Reorganized Debtors’ other obligations, will depend on their future financial and operating performance and their ability to generate cash in the future.

  • If the Reorganized Debtors are unable to repay amounts outstanding under either or both of the New First Lien Term Loan Agreement and/or the New Second Lien Term Loan Agreement when due, the lenders thereunder could, subject to the terms of the New First Lien Term Loan Agreement, the New Second Lien Term Loan Agreement and the New Intercreditor Agreement, seek to foreclose on the collateral that is pledged to secure the indebtedness outstanding under such facility.

  • That is, a holder may reduce the daily portions of OID by a fraction, the numerator of which is the excess of the holder’s initial tax basis in the New Second Lien Term Loan over the adjusted issue price, and the denominator of which is the excess of the sum of all amounts payable on the new Second Lien Term Loan after the purchase date over the adjusted issue price.

  • The holder’s adjusted tax basis in the New Second Lien Term Loan generally equals the issue price of such holder’s share of the New Second Lien Term Loan, increased by accrued OID with respect to the New Second Lien Term Loan, and decreased by payments on the New Second Lien Term Loan.

  • Similarly, the Reorganized Debtors’ obligations under the New Second Lien Term Loan Agreement will be secured by a second priority lien on substantially all of the assets of the Reorganized Debtors.

  • Section 11.2 of the Plan contains various conditions to consummation of the Plan, including the Confirmation Order having become final and non-appealable, and entry into the New First Lien Term Loan Agreement and the New Second Lien Term Loan Agreement.

  • Such gain or loss will generally be capital gain or loss, subject to the market discount rules discussed below.Holders should consult with their tax advisors regarding the tax consequences of the ownership and disposition of the New Second Lien Term Loan with respect to their particular circumstances.

  • A holder’s tax basis in the New Second Lien Term Loan will be increased by the amount of OID includible in the holder’s gross income as it accrues and decreased by payments on the New Second Lien Term Loan.Acquisition Premium on the New Second Lien Term Loan.

  • There are limitations on the deduction of capital losses by both corporate and noncorporate taxpayers.If the Senior Secured Notes and New Second Lien Term Loan are treated as securities for federal income tax purposes, the exchange of Senior Secured Notes for New Common Stock and New Second Lien Term Loan will constitute a recapitalization; and subject to the rules discussed below under “Other Considerations—Accrued Interest,” holders of the Senior Notes will not recognize gain or loss on the exchange.


More Definitions of New Second Lien Term Loan

New Second Lien Term Loan has the meaning set forth in the Recitals.
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New Second Lien Term Loan means the $210 million new second lien secured term loan that Reorganized Xxxxxx will incur on the Effective Date under the New Second Lien Term Loan Agreement.
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New Second Lien Term Loan means that certain second lien term loan in an aggregate principal amount of $175,000,000 provided under the New Second Lien Term Loan Agreement.
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Related to New Second Lien Term Loan

  • Second Lien Term Loans means the “Term Loans” 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 Loan Commitments shall have the meaning provided in Section 2.14(h).

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

  • Refinancing Term Loan has the meaning specified in Section 2.15(b).

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

  • 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.

  • Initial Term Loan Lender means a Lender with an Initial Term Loan Commitment or an outstanding Initial Term Loan.

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

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

  • Initial Term Loan Commitment means, in the case of each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(b) as such Lender’s Initial Term Loan Commitment. The aggregate amount of the Initial Term Loan Commitments as of the Closing Date is $820,000,000.

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

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

  • Permitted Second Priority Refinancing Debt secured Indebtedness incurred by the Borrower in the form of one or more series of second lien secured notes or second lien secured loans; provided that (i) such Indebtedness is secured by the Collateral on a second lien, subordinated basis to the Obligations and is not secured by any property or assets of the Borrower or any of its Subsidiaries other than the Collateral, (ii) such Indebtedness constitutes Credit Agreement Refinancing Indebtedness in respect of Term Loans, (iii) such Indebtedness does not mature or have scheduled amortization or payments of principal prior to the date that is 91 days after the Latest Maturity Date at the time such Indebtedness is incurred, (iv) the security agreements relating to such Indebtedness are substantially the same as the Security Documents (with such differences as are reasonably satisfactory to the Administrative Agent; provided that such differences are not more favorable to the investors in such secured Indebtedness), (v) such Indebtedness is not also incurred by or guaranteed by any Subsidiaries of the Borrower other than the Subsidiary Guarantors and is not incurred by or guaranteed by any other Person, (vi) an agent or representative acting on behalf of the holders of such Indebtedness (a “Second Lien Agent”) shall have become party to an intercreditor agreement in form and substance satisfactory to the Administrative Agent (the “Second Lien Intercreditor Agreement”); provided that, if such Indebtedness is the initial Permitted Second Priority Refinancing Debt incurred by the Borrower, then the Borrower, the Subsidiary Guarantors, the Administrative Agent and the Second Lien Agent for such Indebtedness shall have executed and delivered the Second Lien Intercreditor Agreement, (vii) the other terms and conditions of such secured Indebtedness are on the whole substantially identical to, or less favorable to the investors providing such secured Indebtedness, than those applicable to the Refinanced Debt (except for (x) pricing, fees, rate floors and prepayment or redemption premiums, which shall reflect market terms and conditions at the time of incurrence or issuance, (y) covenants or other provisions applicable only to periods after the date that is 91 days after the Latest Maturity Date that is in effect on the date such Indebtedness is issued, incurred or obtained and (z) differences that reflect the nature of such secured debt as fixed or floating rate securities), and (viii) a Responsible Officer shall have certified compliance with the foregoing requirements and that the incurrence of such Indebtedness complies with Section 6.2.

  • 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.

  • Additional Term Loan Commitment means any term commitment added pursuant to Sections 2.22, 2.23 and/or 9.02(c)(i).

  • Tranche B Term Loan as defined in Section 2.1.

  • Existing Term Loan Facility means that certain Term Loan Credit Agreement, dated as of September 7, 2018, by and among the ProFrac Services LLC, as the borrower thereunder, Holdings, the guarantors party thereto, the lenders party thereto and Barclays Bank PLC, as the administrative agent and collateral agent (as amended, amended and restated, supplemented and otherwise modified from time to time, and together with the guarantee and security documentation executed in connection therewith).

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

  • Tranche C Term Loan as defined in Section 2.1.

  • Extended Term Loan shall have the meaning assigned to such term in Section 2.21(e).

  • Tranche B Term Loan Lender means a Lender with a Tranche B Term Loan Commitment or an outstanding Tranche B Term Loan.

  • Tranche C Term Loan Commitment means the commitment of a Lender to make a Tranche C Term Loan to Company pursuant to subsection 2.1A(iii), and "Tranche C Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Existing Term Loan Credit Agreement means that certain Term Loan Credit Agreement, dated as of August 24, 2017, among the Borrower, the lenders from time to time party thereto and Sumitomo Mitsui Banking Corporation, as administrative agent (as amended, restated, supplemented or otherwise modified prior to the Effective Date).

  • Tranche B Term Loan Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan to the Borrower hereunder in a principal amount equal to the amount set forth on Schedule 1.01(b) (or in the case of any Continuing Tranche B Term Loan Lender, the amount of its Existing Tranche B Term Loan continued as a Tranche B Term Loans (as specified in its Term Loan Lender Addendum) pursuant to Section 2.01(b)(i).

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