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.

  • From and after the Effective Date, the Reorganized Debtors, subject to any applicable limitations set forth in any post-Effective Date agreement (including the New First Lien Facility Documentation, the New Second Lien Term Loan Documentation, and the New Organizational Documents), shall have the right and authority without further order of the Bankruptcy Court to raise additional capital and obtain additional financing as the boards of directors of the applicable Reorganized Debtors deem appropriate.

  • The lenders under the New Second Lien Term Loan Agreement shall have valid, binding, and enforceable Liens on the collateral specified in, and to the extent required by, the New Second Lien Term Loan Agreement and all related documents and agreements.

  • 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.

  • 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.

  • 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.

  • The report must include the date of publication and a statement about when this activity was reported as accepted for publication.

  • Such gain or loss will generally be equal to the difference between (i) the sum of the fair market value of the New Common Stock and the issue price of the New Second Lien Term Loan distributed to such holder and (ii) such holder’s tax basis in the Senior Secured Notes.

  • The effect of these rules is that holders will be required to include in income both stated interest and the difference, if any, between the stated principal amount of the New Second Lien Term Loan and the issue price thereof.

  • 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.


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” as defined in the First Lien Credit Agreement.

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

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

  • 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 the commitment of a Lender to make or otherwise fund an Initial Term Loan and “Initial Term Loan Commitments” means such commitments of all of the Lenders in the aggregate. The amount of each Lender’s Initial Term Loan Commitment, if any, is set forth on Appendix A-1 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Initial Term Loan Commitments as of the Closing Date is $200,000,000.

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

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

  • 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 incurred by the Borrower in the form of one or more series of second lien (or other junior lien) secured notes or debentures or second lien (or other junior lien) secured loans; provided that (i) such Indebtedness is secured by all or a portion of the Collateral on a second priority (or other junior priority) basis to the Liens securing the Obligations and any other First Lien Obligations and is not secured by any property or assets of Holdings, the Borrower or any Restricted Subsidiary other than the Collateral, (ii) such Indebtedness satisfies the applicable requirements set forth in the provisos in the definition of “Credit Agreement Refinancing Indebtedness” (provided that such Indebtedness may be secured by a Lien on the Collateral that is junior to the Liens securing the Obligations and any other First Lien Obligations, notwithstanding any provision to the contrary contained in the definition of “Credit Agreement Refinancing Indebtedness”), (iii) the holders of such Indebtedness (or their representative) and the Administrative Agent and/or the Collateral Agent shall be party to a Customary Intercreditor Agreement, and (iv) such Indebtedness is not at any time guaranteed by any Subsidiaries of the Borrower other than Subsidiaries that are Guarantors.

  • 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 has the meaning specified in Section 2.17(a).

  • 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 each Lender that has a Tranche B Term Loan Commitment or is the holder of a 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 the Term Loan Credit Agreement dated December 5, 2014 among the Company, the Revolving Borrower, Barclays Bank PLC, as administrative Agent, and the financial institutions and lenders from time to time party thereto, as amended, restated, supplemented or otherwise modified from time to time prior to the Closing 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).