Examples of Prepetition Second Lien Administrative Agent in a sentence
Between mid-December 2018 and the Petition Date, affiliates of the Prepetition Second Lien Administrative Agent funded an additional$15,530,000 to support the Debtors’ operations, but the Prepetition Second Lien Promissory Note was never amended to reflect the additional advances.
As security for the repayment obligations under the Prepetition Second Lien Promissory Note, the borrowers and guarantors thereto granted the Prepetition Second Lien Administrative Agent, the Prepetition Second Liens on the Prepetition Second Lien Collateral.
The Prepetition Second Lien Lenders assert that the additional advances made by affiliates of the Prepetition Second Lien Administrative Agent to the Debtors are unsecured obligations.
The Claims amount of Class 2 Claims for voting purposes only will be established based on the amount of the applicable positions held by such Class 2 Claim Holder, as applicable, as of the Voting Record Date, as evidenced by the applicable records provided by the Prepetition Second Lien Administrative Agent in electronic Microsoft Excel format to the Debtors or the Notice and Claims Agent no later than one (1) business day following the Voting Record Date.Class 3 Claims.
On May 18, 2018, the Prepetition Second Lien Promissory Note was made by the borrowers in favor of the Prepetition Second Lien Administrative Agent and the holders of the Prepetition Second Lien Promissory in the outstanding principal amount of $14,081,469.66 and, on November 21, 2018, was amended and restated in the outstanding principal amount of$18,800,000.
Any proof of claim filed by the DIP Agent, the Prepetition First Lien Agent, the Prepetition Second Lien Administrative Agent and the Prepetition Second Lien Notes Trustee shall be deemed to be in addition to and not in lieu of any other proof of claim that may be filed by any of the respective DIP Secured Parties or the Prepetition Secured Parties.
Following this default, the Debtors, the Prepetition Secured Parties, the Prepetition Second Lien Lenders and the Prepetition Second Lien Administrative Agent entered into two forbearance agreements and extensions to the Prepetition First Lien Credit Agreement and the Prepetition Second Lien Promissory Note, including most recently that certain Fifth Extension of Second Forbearance Agreement dated as of May 10, 2019, which expired on May 31, 2019.