Examples of Prepetition Credit Facilities in a sentence
The DIP Loan Parties shall continue to maintain and insure the Prepetition Collateral and DIP Collateral in amounts and for the risks, and by the entities, as required under the Prepetition Credit Facilities and the DIP Documents.
Because of the Debtors’ defaults, the Prepetition Credit Facilities were accelerated.
Pursuant to the terms of the ECA, EGFL agreed to provide equity contributions to ESML to fully satisfy obligations of ESML in respect of obligations under certain of the Prepetition Credit Facilities or those obligations otherwise required to be satisfied to complete the construction of the Project, including costs in excess of $1.802 billion and government grant reimbursement obligations.
The Priming Liens (x) shall be senior in all respects to the interests in such property of the Prepetition Secured Lenders under the Prepetition Credit Facilities (the “Primed Parties”) and (y) shall also be senior to any liens granted to provide Adequate Protection in respect of any of the Primed Liens.
EGFL’s failure to contribute key amounts to the cost overrun account, as required under the ECA, resulted in defaults under ESML’s Prepetition Credit Facilities and in unavailability of Term Loan funds, cutting off ESML’s critical financial lifeline and initiating in large part the subsequent chain of events that led to the filing of the Chapter 11 Cases.