Prepetition First Lien Loans definition

Prepetition First Lien Loans means any extension of credit made by Prepetition First Lien Lenders under the Prepetition First Lien Credit Agreement.
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Prepetition First Lien Loans means “Loans” as defined in the Prepetition First Lien Credit Agreement.
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Prepetition First Lien Loans means the Debt outstanding under the Prepetition First Lien Credit Agreement on the Closing Date.
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Examples of Prepetition First Lien Loans in a sentence

  • The Interim Order does not provide for cross collateralization, however, the proceeds of the Roll-Up Loans will be used to pay off the Prepetition First Lien Loans and the proceeds of the New Money Loans will be used to pay off the Receivables Facility.

  • The Prepetition First Lien Loans will be exchanged for Roll-Up Loans.

  • The Prepetition First Lien Loans are secured by liens on substantially all of the assets of the Company, but excluding certain limited exclusions as set forth in the Prepetition First Lien Credit Agreement and the accompanying First Lien Pledge and Security Agreement, dated as of July 12, 2007.

  • For purposes of Section 2.1(a)(ii), the amount of the First Lien Repayment shall be deemed to have been applied first to repay the Prepetition First Lien Loans.

  • Upon entry of this Interim Order, without any further action by the Debtors or any other party, $35,000,000 of the Prepetition First Lien Loans shall be converted into DIP Obligations, as Roll-Up Loans.

  • Failure of (a) the refinancing of the Prepetition First Lien Loans to be approved in the Final Order within 30 days after the Petition Date and (b) all Prepetition First Lien Debt under the Prepetition First Lien Loan Agreement to be indefeasibly repaid in full in cash within five (5) days after the entry of the Final Order.


More Definitions of Prepetition First Lien Loans

Prepetition First Lien Loans outstanding under the Existing First Lien Credit Agreement plus the “Letter of Credit Usage” (as defined under the Existing First Lien Credit Agreement), in each case, as of the Petition Date, minus, after the First Lien Repayment Date, the amount of the First Lien Repayment (the “Maximum Revolver Amount”). On and after the date on which the First Lien Repayment is made (such date, the “First Lien Repayment Date”), the DIP Revolving Loans will be available from time to time under the DIP Revolving Facility up to a maximum principal amount outstanding at any one time (the “DIP Revolving Availability”) not to exceed the lesser of:
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Prepetition First Lien Loans means the Prepetition Revolving Loans and the Prepetition First Lien Term Loans.
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Prepetition First Lien Loans and the Claims thereof, the “Prepetition First Lien Claims”) and (z) lenders under the Debtors’ Second Lien Credit Agreement, dated as of December 10, 2020 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Prepetition Second Lien Credit Agreement”) who collectively hold more than 66.7% of the principal amount of loans thereunder (such loans, the “Prepetition Second Lien Loans” and the Claims thereof, the “Prepetition Second Lien Claims”), pursuant to which the Debtors shall pursue a reorganization pursuant to a joint pre-packaged plan of reorganization (the “Restructuring”) in accordance with this Restructuring Term Sheet and the Restructuring Support Agreement to which this Restructuring Term Sheet is attached (together with the exhibits, annexes, schedules, and attachments to such agreement, including this Restructuring Term Sheet, each as may be amended, restated, supplemented, or otherwise modified from time to time in accordance with the terms thereof, the “Restructuring Support Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Restructuring Support Agreement. Implementation The Restructuring will be accomplished through the Company’s commencement of voluntary cases under the Bankruptcy Code (the “Chapter 11 Cases”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) pursuant to which the Company will file a joint pre-packaged chapter 11 plan (including all appendices, exhibits, schedules, and supplements thereto, as may be modified from time to time in accordance with its terms and the Restructuring Support Agreement, the “Plan”), which shall be undertaken and prosecuted with the support of the Consenting Lenders on the terms and conditions set forth in the Restructuring Support Agreement, and otherwise be materially consistent in all respects with the Restructuring Support Agreement and otherwise acceptable to the Company and the Requisite Consenting Lenders. Prior to the Petition Date, the Debtors shall commence solicitation of the Plan pursuant to applicable non-bankruptcy law, with the form of and timing of such solicitation to be acceptable to the Requisite Consenting Lenders. On the Petition Date, the Debtors shall file the Plan and an accompanying disclosure statement, in form and substance acceptable to the Debtors and the Requisite Consenting Lenders. Milestones The Company shall implement the Restru...
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Prepetition First Lien Loans means the principal amount of loans outstanding under the Existing First Lien Credit Agreement.
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Related to Prepetition First Lien Loans

  • First Lien Loans means the “Loans” (or any comparable term) as defined in the First Lien Credit Agreement.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Second Lien Loans means the “Loans” as defined in the Second Lien Credit Agreement and shall, for the avoidance of doubt, include Incremental Second Lien Loans.

  • First Lien Loan Documents means the “Loan Documents” as defined in the First Lien Credit Agreement.

  • First Lien Last Out Loan Any Collateral Obligation that would be a Senior Secured Loan except that, following a default, such Collateral Obligation becomes fully subordinated to other senior secured loans of the same Obligor and is not entitled to any payments until such other senior secured loans are paid in full.

  • First Lien Lenders means the “Lenders” under and as defined in the First Lien Credit Agreement.

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Performing First Lien Bank Loans means First Lien Bank Loans which are Performing.

  • First Lien Term Loans means the “Term Loans” as defined in the First Lien Credit Agreement.

  • Second Lien Loan Documents means the Second Lien Credit Agreement and the other “Loan Documents” under and as defined in the Second Lien Credit Agreement, as each such document may be amended, renewed, restated, supplemented or otherwise modified from time to time.

  • Term Loan Obligations means the “Obligations” as defined in the Term Loan Credit Agreement.

  • First Lien Bank Loan means a Bank Loan that is entitled to the benefit of a first lien and first priority perfected security interest (subject to Liens for “ABL” revolvers and customary encumbrances) on a substantial portion of the assets of the respective borrower and guarantors obligated in respect thereof.

  • ABL Loans means the “Loans” as defined in the ABL Credit Agreement.

  • Prepetition Loan Documents means the “Loan Documents” as defined in the Prepetition Credit Agreement, in each case as amended, supplemented, or modified from time to time prior to the Petition Date.

  • Additional First Lien Obligations means all amounts owing to any Additional First-Lien Secured Party (including the Initial Additional First-Lien Secured Parties) pursuant to the terms of any Additional First-Lien Document (including the Initial Additional First-Lien Documents), including, without limitation, all amounts in respect of any principal, premium, interest (including any interest accruing subsequent to the commencement of a Bankruptcy Case at the rate provided for in the respective Additional First-Lien Document, whether or not such interest is an allowed claim under any such proceeding or under applicable state, federal or foreign law), penalties, fees, expenses, indemnifications, reimbursements, damages and other liabilities, and guarantees of the foregoing amounts.

  • DIP means (1) the debtor in possession in a chapter 11 case in which no trustee has been appointed and is serving, and (2) the debtor in possession in a chapter 12 case in which the debtor has not been removed under §1204 without reinstatement.

  • First Lien/First Lien Intercreditor Agreement means an intercreditor agreement substantially in the form of Exhibit H hereto, or such other customary form reasonably acceptable to the Administrative Agent and the Borrower, as such document may be amended, restated, supplemented or otherwise modified from time to time.

  • First Lien Credit Agreement means the Credit Agreement, dated as of the Closing Date, among Holdings, the Borrower, the guarantors party thereto, the lenders party thereto, the other parties from time to time party thereto, and the First Lien Administrative Agent.

  • First Lien Notes means the 8.000% first lien secured notes due April 1, 2027, issued by Frontier pursuant to the First Lien Notes Indenture.

  • Prepetition Collateral means the collateral securing the Prepetition BP Secured Claim, including, without limitation, the Posted Collateral.

  • Term Loan Collateral means all of the assets of any Grantor, whether real, personal or mixed, upon which a Lien is granted or purported to be granted to any Term Loan Agent under any of the Term Loan Collateral Documents.

  • Other First Lien Obligations means (a) the due and punctual payment by any Loan Party of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding) on Indebtedness under any Other First Lien Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (ii) all other monetary obligations of such Loan Party to any Secured Party under any Other First Lien Agreement, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding), (b) the due and punctual performance of all other obligations of such Loan Party under or pursuant to any Other First Lien Agreement and (c) the due and punctual payment and performance of all the obligations of each other Loan Party under or pursuant to any Other First Lien Agreement.

  • Term Loan Claims means the Claims arising in respect of the term facility under the Credit Agreement.

  • Other First Lien Debt means obligations secured by Other First Liens.

  • Additional First Lien Secured Parties means the holders of any Additional First Lien Obligations and any trustee, authorized representative or agent of such Additional First Lien Obligations.

  • Prepetition means arising or accruing prior to the Petition Date.