Prepetition Administrative Agent definition
Examples of Prepetition Administrative Agent in a sentence
The Instructing Group and the Last Out Requisite Term Lenders shall be satisfied with the terms of the Fourth Amendment and Canadian Forbearance Agreement and it shall have been executed and delivered by the Borrower, Accuride Canada, each other Loan Party, each of the Prepetition Lenders required to be party thereto and the Prepetition Administrative Agent.
Notwithstanding the foregoing, and except for the Carve-Out as provided in the DIP Orders, no Indebtedness permitted under this Section 6.01 shall have an administrative expense claim status under the Bankruptcy Code that is senior to or pari passu with (x) the DIP Superpriority Claims or (y) the superpriority administrative expense claims of the Prepetition Administrative Agent and the Prepetition Secured Parties, in each case, as set forth herein and in the DIP Orders.
Each Debtor hereby assigns, transfers, and conveys to Prepetition Administrative Agent, as security for the Letter of Credit Obligations, as defined below, all of such Debtor’s right, title and interest in and to the Account and all funds now or hereafter on deposit in the Account, including all cash, cash equivalents and deposits, and proceeds thereof, and interest and earnings thereon (hereinafter collectively called the “Account Collateral”).
Debtors hereby agree to pay to Prepetition Administrative Agent a fee (the “Letter of Credit Fee”) equal to 4.325% per annum times the aggregate daily undrawn amount of all Existing Letters of Credit that were outstanding during the immediately preceding month.
On the Termination Date, Prepetition Administrative Agent shall deliver the Account Collateral minus all then outstanding Letter of Credit Obligations incurred and accrued during the term of this Agreement to Debtors (in accordance with the wire instructions set forth on Schedule III) and this Agreement shall terminate.