New Secured Facility definition
New Secured Facility means a new secured loan facility, which facility shall have refinanced the obligations owing by the Banro Parties to the DIP Lender under the DIP Term Sheet;
New Secured Facility means a new secured term loan facility or facilities (to be funded in any tranche or tranches necessary to raise such financing) in the amount of at least the Minimum Exit Cash Requirement and which shall be subject to increase by the New Secured Facility Upsize Amount, the terms of which shall be reasonably acceptable to the Debtors and the Requisite Unsecured Lenders.
New Secured Facility means any Approved Hedging Agreement or any other facility which would otherwise have been a New Unsecured Facility but for the fact that (i) the Majority Term Banks have agreed that the relevant financiers or hedging counterparty may share in the Security, (ii) a Designating Instrument has been duly executed and delivered in respect thereof pursuant to Clause 8 of the Security Trust Agreement and (iii) such financiers or such hedging counterparty have executed an STA Deed of Accession and thereby become party to the Security Trust Agreement as Primary Beneficiaries;
Examples of New Secured Facility in a sentence
Each Consenting Bank shall have participating interests in such Letters of Credit in accordance with the provisions of the New Secured Facility.
The parties hereto hereby agree that the Letters of Credit issued and outstanding under the Credit Agreement and any related Letter of Credit Documents, shall be transferred to and shall constitute Letters of Credit and Letter of Credit Documents under the New Secured Facility and for purposes thereof will be deemed to have been issued by the Fronting Bank under the New Secured Facility.
More Definitions of New Secured Facility
New Secured Facility means secured loans in a principal amount as of the Effective Date equal to (1) the amount of the Incremental Tranche B DIP Loan Claims, if any, as of the Effective Date plus, (2) the amount, if any, by which (x) $25 million exceeds