Examples of Prepetition Secured Credit Agreement in a sentence
The Debtors also entered into amendments to the Prepetition Secured Credit Agreement during 2015 and 2016, including the fourth and fifth amendments to the Credit Agreement, dated May 27, 2015, and August, 26, 2016, respectively.
As a result of the decreased operating performance described above, the Debtors were unable to comply with various covenants in their debt documents, including the Term Loan Agreement and Prepetition Secured Credit Agreement.
This discussion assumes that each class of debt instruments issued pursuant to the Prepetition Secured Credit Agreement Documents is treated as a “security” under the applicable guidance, however, if all such debt instruments were not treated as a security, the discussion below applicable to fully taxable exchanges would apply to the exchange of the Prepetition Secured Lender Claims for the Purchaser Credit Bid and Excess Distributable Cash.
The treatment of, and Plan Distribution to, to the extent not already paid in full prior to the Effective Date, holders of Class 3 Prepetition Secured Credit Agreement Claims shall be in full satisfaction, settlement, release and discharge of, and in exchange for the Greenville Prepetition Secured Lender Guaranty Claims.
Except with respect to Prepetition Secured Credit Agreement Claims, if any, and DIP Claims, unless otherwise specifically provided for in the Confirmation Order or other order of the Bankruptcy Court (including, without limitation, the Final DIP Order), or required by applicable bankruptcy or non-bankruptcy law, postpetition interest shall not accrue or be paid on any Claims, and no holder of a Claim shall be entitled to interest accruing on such Claim on or after the Petition Date.
The operational challenges and resulting impact on the Debtors’ financial condition led to issues on the Debtors’ ability to satisfy certain covenants under the Credit Agreement, compromising their ability to borrow thereunder without certain waivers or amendments under the Prepetition Secured Credit Agreement.
As the Debtors continued to engage in discussions with counsel to the Informal Noteholder Committee toward a consensual prearranged restructuring, the depressed state of the concrete industry undermined the Debtors’ ability to avoid defaults under the Debt Instruments.In order to continue their prenegotiated plan discussions, on February 19, 2010, the Debtors entered into an amendment (the “Fourth Amendment”) to the Prepetition Secured Credit Agreement.
In accordance with section 1126(f) of the Bankruptcy Code, the holders of Prepetition Secured Credit Agreement Claims are conclusively presumed to accept this Plan and are not entitled to vote to accept or reject the Plan, and the votes of such holders will not be solicited with respect to such Allowed Prepetition Secured Credit Agreement Claims.
Due to operating losses incurred during its second fiscal quarter in 2001, Amcast breached several non-monetary covenants under the Prepetition Secured Credit Agreement.
To the extent permitted by the DIP Documents, the Loan Parties are authorized to maintain letters of credit under the Prepetition Secured Credit Agreement on an uninterrupted basis and to take all actions reasonably appropriate with respect thereto.