Examples of Prepetition Secured Loans in a sentence
Among other things, these transactions: • reduced the principal balance of the Prepetition Secured Loans from $35 million to $1.4 million; • eliminated the defaults under the Prepetition Credit Agreement; • eliminated $1.1 million in hedge liabilities under the BP ISDA and SocGen ISDA; and • provided the Debtors with fresh capital up to $2 million through the New Term Loan.
Contemporaneously with the purchase of the Prepetition Secured Loans, Red Mountain and the Debtors entered into a Restructuring and Exchange Agreement, dated September 30, 2019 (the “ Restructuring Agreement”), providing for, among other things:• The reduction in the principal balance of the Prepetition Secured Loans to $1.4 million, evidenced by a modified note (the “Modified Note”).
The Debtors expect that, pursuant to the Restructuring Support Agreement, the Prepetition Secured Loans and Prepetition Unsecured Notes—the only classes entitled to vote on the Plan—will vote to accept in excess of the statutory thresholds specified in section 1126(c) of the Bankruptcy Code.
Collectively, the Consenting Parties hold or beneficially own 71.6% of Prepetition Secured Loans and 66.8% of Prepetition Unsecured Notes, and hold directly or indirectly 94.7% of the Debtors’ equity interests.
On July 12, 2013, the Company entered into the Second Forbearance Agreement with two-thirds of its lenders under both Prepetition Secured Loans.
Prepetition Secured Loans means the loans made pursuant to the Prepetition CreditAgreement.
Among other things, these transactions: reduced the principal balance of the Prepetition Secured Loans from $35 million to$1.4 million; eliminated the defaults under the Prepetition Credit Agreement; eliminated $1.1 million in hedge liabilities under the BP ISDA and SocGen ISDA; and provided the Debtors with fresh capital up to $2 million through the New Term Loan.
Figure 1.4 A ‘day in the life’ of a buyer in a fashion multiple retailerlonger hours on her return.
The Lender shall be secured by a perfected security interest pursuant to section 364(c)(2), section 364(c)(3) and section 364(d) of the Bankruptcy Code with a valid, binding, continuing, enforceable, fully-perfected, first priority priming lien that is senior to any and all security interests in and liens on the DIP Collateral (which is expressly senior in priority to, without limitation, any Prepetition Secured Lenders with respect to the Prepetition Secured Loans) (collectively, the "DIP Liens").
Except as provided in Section 8(b), no party, nor any officer, board member, employee or agent thereof shall be responsible for any damage or liability occurring by reason of the negligent acts or omissions or willful misconduct of other parties hereto or any provider of services, their officers, board members, employees or agents, under or in connection with or arising out of any work, authority or jurisdiction delegated to such other parties under this Agreement.