Prepetition Secured Loan definition

Prepetition Secured Loan means the term loan provided by the Prepetition Secured Lender pursuant to the Prepetition Secured Loan Documents in the principal amount of
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Prepetition Secured Loan means the loan dated September 15, 2016, with a total original principal amount of $23,328,810.00, between LMPC, as borrower, and the Prepetition Secured Lender, the loan dated August 9, 2017, with a total original principal amount of$25,177,640.00, between LMPC as borrower, and the Prepetition Secured Lender, and the loan agreement, dated December 31, 2019, between LMPC, as borrower, and the Prepetition Secured Lender, pursuant to which the Prepetition Secured Lender agreed to make loans to LMPC over time. The amount of the Prepetition Secured Loan was approximately $301,156,450.00 as of the Petition Date.
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Prepetition Secured Loan means that certain Loan Agreement, dated as of August 1, 2017, by and between the Debtor and the Prepetition Secured Lender, as amended by the First Amendment and Joinder to Loan Agreement dated April 30, 2018.
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Examples of Prepetition Secured Loan in a sentence

  • Subject to the Committee’s challenge rights, the Prepetition Secured Lender obtained a lien on substantially all of the personal property assets of the Debtors prepetition, all as set forth in greater detail in the Prepetition Secured Loan Documents, the motion to approve the use of cash collateral, and the various Orders approving the use of cash collateral.

  • Under the Prepetition Secured Loan documents, the Prepetition Secured Lender received combined financial reports from the Debtors and calculated covenant compliance based on the assets and liabilities of all the Debtor entities.

  • In accordance with the foregoing, the delivery of any applicable property to be distributed to Holders of Prepetition Secured Loan Claims and Holders of DIP Claims to the Prepetition Agent and DIP Agent, respectively, shall satisfy all applicable Distribution obligations under the Plan.

  • Each Holder of a Prepetition Secured Loan Claim shall receive all Available Cash, plus the proceeds of the Remaining Prepetition Collateral up to the amount of the Prepetition Loan Claim outstanding after all payments made pursuant to the Final DIP Order.

  • The Holders of Class 3 Prepetition Secured Loan Claims are entitled to vote to accept or reject the Plan.

  • The B Prepetition Secured Loan is evidenced by that certain Promissory Note dated August 9, 2017 made by LMPC in favor of the Prepetition Secured Lender (as amended prior to the date hereof, the “ B Note”).

  • For purposes of Distribution on account of the Prepetition Secured Loan Claims and the DIP Claims, the Prepetition Agent and the DIP Agent, respectively (a) shall be deemed to be the Holder of all Prepetition Secured Loan Claims and DIP Claims and (b) are hereby directed to make Distributions to the Holders of Prepetition Secured Loan Claims and DIP Claims.

  • On or about December 4, 2017, LMPC, as borrower, and the Prepetition Secured Lender entered into that certain Secured Loan Agreement (as amended, the “ C Prepetition Loan Agreement” and together with the B Prepetition Loan Agreement, the “Prepetition Loan Agreements”), pursuant to which the Prepetition Secured Lender agreed to make loans to LMPC (the “C Prepetition Secured Loan” and together with the A Prepetition Secured Loan and the B Prepetition Secured Loan, the “Prepetition Secured Loan”).

  • All communications, notices, documents and payments to be delivered or sent to you will be sent by ordinary post at your own risk to your address as it appears in the records of CDP.

  • The Prepetition Secured Lender shall (i) permit its first-priority security interest in all of the Debtor’s assets to be primed by the DIP Facility and the Exit Facility, and (ii) agree to deferral of payment of principal on the Prepetition Secured Loan until after repayment of the Exit Facility.


More Definitions of Prepetition Secured Loan

Prepetition Secured Loan means the prepetition secured loan to the Debtors by Sovereign Bank, which is currently held by the Plan Proponent, OMTAMMOT, LLC.
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Prepetition Secured Loan means the loan dated September 15, 2016, with a total original principal amount of $23,328,810.00, between LMPC, as borrower, and the Prepetition Secured Lender, the loan dated August 9, 2017, with a total original principal amount of
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Related to Prepetition Secured Loan

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

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

  • Loan obligation means a bond, note, or other evidence of an obligation issued by a qualified borrower.

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

  • DIP Loan means a Bank Loan, whether revolving or term, that is originated after the commencement of a case under Chapter 11 of the Bankruptcy Code by a Portfolio Company, which is a debtor in possession as described in Section 1107 of the Bankruptcy Code or a debtor as defined in Section 101(13) of the Bankruptcy Code in such case (a “Debtor”) organized under the laws of the United States or any state therein and domiciled in the United States, which satisfies the following criteria: (a) the DIP Loan is duly authorized by a final order of the applicable bankruptcy court or federal district court under the provisions of subsection (b), (c) or (d) of 11 U.S.C. Section 364; (b) the Debtor’s bankruptcy case is still pending as a case under the provisions of Chapter 11 of Title 11 of the Bankruptcy Code and has not been dismissed or converted to a case under the provisions of Chapter 7 of Title 11 of the Bankruptcy Code; (c) the Debtor’s obligations under such loan have not been (i) disallowed, in whole or in part, or (ii) subordinated, in whole or in part, to the claims or interests of any other Person under the provisions of 11 U.S.C. Section 510; (d) the DIP Loan is secured and the Liens granted by the applicable bankruptcy court or federal district court in relation to the Loan have not been subordinated or junior to, or pari passu with, in whole or in part, to the Liens of any other lender under the provisions of 11 U.S.C. Section 364(d) or otherwise; (e) the Debtor is not in default on its obligations under the loan; (f) neither the Debtor nor any party in interest has filed a Chapter 11 plan with the applicable federal bankruptcy or district court that, upon confirmation, would (i) disallow or subordinate the loan, in whole or in part, (ii) subordinate, in whole or in part, any Lien granted in connection with such loan, (iii) fail to provide for the repayment, in full and in cash, of the loan upon the effective date of such plan or (iv) otherwise impair, in any manner, the claim evidenced by the loan; (g) the DIP Loan is documented in a form that is commercially reasonable; and (h) the DIP Loan shall not provide for more than 50% (or a higher percentage with the consent of the Required Lenders) of the proceeds of such loan to be used to repay prepetition obligations owing to all or some of the same lender(s) in a “roll-up” or similar transaction. For the purposes of this definition, an order is a “final order” if the applicable period for filing a motion to reconsider or notice of appeal in respect of a permanent order authorizing the Debtor to obtain credit has lapsed and no such motion or notice has been filed with the applicable bankruptcy court or federal district court or the clerk thereof.

  • Senior Loan has the meaning provided in the Recitals hereto.