New Secured Debt means any Indebtedness incurred pursuant to Section ---------------- 6.02(m).
New Secured Debt means the new secured indebtedness of Cline, which is to be guaranteed by New Elk and North Central, to be established on the Plan Implementation Date pursuant to section 5.2(2) hereof, the terms of which shall be consistent with the summary of terms set forth in Schedule “A” and which shall be governed by the New Credit Agreement.
New Secured Debt means secured indebtedness with an aggregate principal amount of not less than the Syndication Amount in form and substance materially consistent with the New Secured Debt Term Sheet and otherwise acceptable to the Debtors and the Requisite First Lien Creditors, and, solely with respect to increases or decreases to the Syndication Amount, shall be reasonably acceptable to the Requisite Crossover Creditors.
Examples of New Secured Debt in a sentence
The lenders under the New Secured Debt will be each of the existing Holders of the Senior Secured Notes.
The New Secured Debt will mature in five years from the date of the issuance thereof and will accrue interest at the rate of 12.00% per annum, which shall be payable in Cash, quarterly in arrears.
Excess cash flow of the Reorganized Debtors (to be defined in the New Secured Debt Documents as mutually agreed upon by the Debtors and the Supporting Noteholders), shall be distributed to the Holders of the New Secured Debt on a quarterly basis.
To the extent that Cash, New Secured Debt, or New Membership Interests to be distributed under the Plan remain undistributed as a result of the rounding of such fraction to the nearest whole dollar, such Cash or stock shall be treated as unclaimed property under Article VIII.H of the Plan.
Except as otherwise provided in the Plan or the Confirmation Order, all Cash necessary for the Reorganized Debtors to make payments required pursuant to the Plan will be obtained from the New Secured Debt and the Reorganized Debtors’ Cash balances, including Cash from operations.
More Definitions of New Secured Debt
New Secured Debt means, collectively, the New Senior Secured Debt and the New Junior Secured Debt.
New Secured Debt means a new first lien term loan in the amount of Forty-Five Million Dollars ($45,000,000) that will be owed by the Reorganized Debtors to the holders of the Senior Secured Notes Claims pursuant to the New Secured Debt Documents.
New Secured Debt means all obligations, liabilities and indebtedness of every nature of the Company from time to time owed to the New Secured Note Holders under the New Secured Notes, including, without limitation, the principal amount of all debts, claims and indebtedness, accrued and unpaid interest and all costs and expenses, whether primary, secondary, direct, contingent, fixed or otherwise, heretofore, now and from time to time hereafter owing, due or payable, whether before or after the filing of a Proceeding under the Bankruptcy Code together with any interest accruing thereon after the commencement of a Proceeding, without regard to whether or not such interest is an allowed claim.
New Secured Debt has the meaning given in Section 3.8.
New Secured Debt means the obligation of the Reorganized Debtors to Bridging or its designee and Centurion, as applicable, in an amount equal to: (i) the DIP Loan; (ii) the Working Capital Loan; and (iii) the Remaining Secured Debt; provided, however that the amount of the New Secured Debt shall not exceed the Effective Date Debt Limit.
New Secured Debt means the new secured notes to be issued on, or new secured term loans to be incurred on, the Effective Date, in the initial principal amount of $[ ]21 and bearing interst at a rate of [ ]22 pursuant to the applicable New Secured Debt Documents. 23 15 The economics of the recoveries described herein reflect initial proposals discussed between the Creditors’ Committee and the Plan Debtors. The Plan Debtors continue to negotiate with their stakeholders to finalize the economics of the Plan. 16 The economics of the recoveries described herein reflect initial proposals discussed between the Creditors’ Committee and the Plan Debtors. The Plan Debtors continue to negotiate with their stakeholders to finalize the economics of the Plan. 17 The Creditors’ Committee proposes $150 million. The Plan Debtors continue to evaluate the Creditors’ Committee’s proposal. 18 The Creditors’ Committee proposes Cash interest at a rate of 10% per annum, and at the option of the issuer, paid-in-kind interest at a rate of 14% per annum. The Plan Debtors continue to evaluate the Creditors’ Committee’s proposal. 19 The economics of the recoveries described herein reflect initial proposals discussed between the Creditors’ Committee and the Plan Debtors. The Plan Debtors continue to negotiate with their stakeholders to finalize the economics of the Plan. 20 The economics of the recoveries described herein reflect initial proposals discussed between the Creditors’ Committee and the Plan Debtors. The Plan Debtors continue to negotiate with their stakeholders to finalize the economics of the Plan. 21 The Creditors’ Committee proposes $550 million. The Plan Debtors continue to evaluate the Creditors’ Committee’s proposal.
New Secured Debt means secured indebtedness with an aggregate principal amount of not less than the Syndication Amount in form and substance materially consistent with the New Secured Debt Term Sheet and otherwise acceptable to the Reorganized Debtors and the Requisite First Lien Creditors. 127. “New Secured Debt Cash Deductions” means the amount of Cash proceeds from the syndication of the New Secured Debt totaling the amount necessary for (x) repayment of the DIP Financing, (y) payment of the PBGC Cash Consideration, and (z) funding the General Unsecured Recovery Pool Account, in each case as provided herein; provided, that to the extent the Debtors’ aggregate pro forma cash on hand on the Effective Date is projected to exceed $350,000,000, such excess Cash shall be used to reduce the New Secured Debt Cash Deductions on a dollar for dollar basis. 128. “New Secured Debt Documents” means, collectively, all agreements, documents, and instruments delivered or entered into in connection with the New Secured Debt (including any guarantee agreements, pledge and collateral agreements, intercreditor agreements, and other security documents), which shall be in form and substance acceptable to the Debtors and the Requisite First Lien Creditors.