Qualifying DIP RE Facility definition

Qualifying DIP RE Facility means a secured debtor-in-possession term loan facility (the loans advanced thereunder, the “DIP RE Loans”) in accordance with the Orders in an aggregate amount up to $25,000,000 on terms and conditions acceptable to the Administrative Agent; provided that (a) such DIP RE Loans are secured on a first lien basis solely with respect to the Loan Parties’ real estate collateral and no other property or assets of the Loan Parties, (b) the Lenders be granted a lien on the real estate collateral subordinate only to the lien securing the DIP RE Loans, and (c) the lien priorities with respect to the real estate collateral shall be set forth in an intercreditor agreement (the “Intercreditor Agreement”) providing for, among other things, customary creditors’ rights and remedies, on terms acceptable to the Administrative Agent.
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Qualifying DIP RE Facility means a secured debtor-in-possession term loan facility (the loan(s) advanced thereunder, the “DIP RE Loans”) in accordance with the DIP Orders in an aggregate amount up to
Sample 1Sample 2
Qualifying DIP RE Facility means a secured debtor-in-possession term loan facility (the loans advanced thereunder, the “DIP RE Loans”) in accordance with the Orders in an aggregate amount up to $25,000,000 on terms and conditions acceptable to the Administrative Agent; provided that
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Examples of Qualifying DIP RE Facility in a sentence

  • The DIP Documents also contain a number of Milestones, including (i) Milestones relating to the Qualifying DIP RE Facility, (ii) Milestones relating to the Contingent Liquidation Motion, and (iii) Milestones relating to the Plan/APA Milestone Date.

  • Except for the holders of any Prior Permitted Liens or the lender under any Qualifying DIP RE Facility actually obtained by the Debtors, no other person may credit bid unless the entire amount of the Prepetition Lenders’ Claim and the DIP Obligations will be indefeasibly paid in full in cash on the closing of the 363 Sale.

  • Moreover, in the event Total Liquidity falls below $25,000,000, the Debtors must draw any remaining available DIP RE Loans under the Qualifying DIP RE Facility (the “Final RE Funding”) with the proceeds of such FinalRE Funding to be paid to the DIP Agent for application to the DIP Obligations.

  • Under the agreement, all cash and collections and receipts of cash by the Debtors from any source including accounts, sale of property, loan advances (including any Qualifying DIP RE Facility), or refunds (excluding amounts reserved for the Carve-Out) shall be applied against the Prepetition Secured Indebtedness in accordance with the terms of the Prepetition Credit Agreement until the Prepetition Secured Indebtedness has been paid in full.

  • Key Milestones include (i) Milestones relating to the Qualifying DIP RE Facility, (ii) Milestones relating to the Contingent Liquidation Motion, and (iii) Milestones relating to the Plan/APA Milestone Date.

  • Not later than forty (40) days after the Petition Date, the Debtors must consummate the Qualifying DIP RE Facility pursuant to which the Debtors must receive an initial funding of not less than $10,000,000 (the “ Initial RE Funding”) with the proceeds of such Initial RE Fundingto be paid to the DIP Agent for application to the DIP Obligations.

  • In addition to delivering the DIP RE Commitment Letter to the Agent, not later than thirty (30) days after the Petition Date, the Debtors must also file a motion with the Court requesting approval of the Qualifying DIP RE Facility.

  • Other than any Prior Permitted Liens, the Carve-Out, and any Qualifying DIP RE Facility actually obtained by the Debtors, no priority claims shall be allowed that are or will be prior to or on parity with the superpriority claims or secured claims of the Agent and the DIP Lenders or Prepetition Lenders, as applicable, against the Debtors and their estates arising from the Prepetition Claim Documents, the DIP Documents, and this Interim Order.

  • In the event and on such occasion that any advance is made to the Borrower or any other Loan Party under the Qualifying DIP RE Facility, the Borrower shall, on the next Business Day, prepay first, the Pre-Petition Loans then outstanding (other than the Retained Pre-Petition Obligations except to the extent provided in Section 2.07(h)) in the order and manner provided in the Pre-Petition Credit Agreement and second, the Loans and/or LC Obligations in an aggregate principal amount equal to such advance.

Related to Qualifying DIP RE Facility

  • Qualifying Facility means an electric energy generating facility that complies with the qualifying facility definition established by PURPA and any FERC rules as amended from time to time (18 Code of Federal Regulations Part 292, Section 292.203 et seq.) implementing PURPA and, to the extent required to obtain or maintain Qualifying Facility status, is self-certified as a Qualifying Facility or is certified as a Qualified Facility by the FERC.

  • Qualifying Replacement Capital Covenant has the meaning specified in the Replacement Capital Covenant.

  • Qualifying investment means a capital investment in real property including the purchase price of land and existing buildings and structures, site preparation, improvements to the real property, building construction, and long-term lease costs. “Qualifying investment” also means a capital investment in depreciable assets.

  • Qualifying student means a student who is a South Carolina resident and who is eligible to be enrolled in a South Carolina secondary or elementary public school at the kindergarten or later year level for the current school year.

  • Qualifying Deposit means the aggregate balance of all Deposit Accounts in the Bank of (i) an Eligible Account Holder at the close of business on the Eligibility Record Date, provided such aggregate balance is not less than $50, and (ii) a Supplemental Eligible Account Holder at the close of business on the Supplemental Eligibility Record Date, provided such aggregate balance is not less than $50.

  • Qualifying Distribution Event means (i) the Separation from Service of the Participant, (ii) the date the Participant becomes Disabled, (iii) the death of the Participant, (iv) the time specified by the Participant for an In-Service or Education Distribution, (v) a Change in Control Event, or (vi) an Unforeseeable Emergency, each to the extent provided in Section 5.

  • Qualifying Debt means amount due, which includes interest or any other sum due in respect of the amounts owed under any contract, by the debtor for a liquidated sum either immediately or at certain future time and does not include—

  • Qualifying Dependent means, for Dependent Care Flexible Spending Account purposes,

  • Qualifying Notes means, with respect to each applicable series of senior preferred debt securities, each series of senior non preferred debt securities and each series of subordinated debt securities, at any time, any securities issued directly by Banco Santander that have terms not otherwise materially less favorable to the holders of the senior preferred debt securities of such series, senior non preferred debt securities of such series or subordinated debt securities of such series than the terms of the senior preferred debt securities of such series, senior non preferred debt securities of such series or subordinated debt securities of such series, as applicable, provided that Banco Santander shall have delivered a certificate signed by two directors of Banco Santander to that effect to the Trustee not less than five Business Days prior to (x) in the case of a substitution of the senior preferred debt securities of the applicable series, the senior non preferred debt securities of any series or the subordinated debt securities of any series, as applicable, pursuant to “—Substitution and Variation”, the issue date of the relevant securities or (y) in the case of a variation of the senior preferred debt securities of the applicable series, the senior non preferred debt securities of any series or the subordinated debt securities of any series, as applicable, pursuant to “—Substitution and Variation”, the date such variation becomes effective, provided that such securities shall:

  • Qualifying Bank means any entity, which effectively conducts banking activities as principal purpose with its own infrastructure and staff and which is recognized as a bank by the banking laws in force in the jurisdiction of its incorporation, or if such entity is acting through a branch in a jurisdiction other than the jurisdiction of its incorporation, in the jurisdiction where such branch is located or registered all in accordance with the Swiss Guidelines.

  • Qualified escrow fund means an escrow arrangement with a federally or state-chartered financial institution having no affiliation with any tobacco product manufacturer and having assets of at least one billion dollars where such arrangement requires that such financial institution hold the escrowed funds’ principal for the benefit of releasing parties and prohibits the tobacco product manufacturer placing the funds into escrow from using, accessing, or directing the use of the funds’ principal except as consistent with section 453C.2, subsection 2, paragraph “b”.

  • Qualifying Acquisition has the meaning specified in Section 5.03.

  • Qualified facility means a permanent facility within this state equipped for the production of motion pictures, television shows, or digital media production that meets all of the following requirements:

  • Qualifying Transaction means a transaction where a CPC acquires Significant Assets, other than cash, by way of purchase, amalgamation, merger or arrangement with another Company or by other means.

  • Qualifying Loans has the meaning specified in Section 2.05(d)(iv).

  • Qualifying condition means a condition described in Section 26-61a-104.

  • Qualifying week means the 15th week before the expected week of childbirth.

  • extended reduction (qualifying contributory benefits means a reduction under this scheme for which a person is eligible in accordance with paragraph 88 or 95;

  • Qualifying Company means a qualifying company within the meaning of section 110 of the Taxes Act;

  • Qualified incubator facility means a commercial building

  • Optional Extended Local Calling Scope Arrangement Traffic is traffic that under an optional Extended Local Calling Scope Arrangement chosen by the Customer terminates outside of the Customer’s basic exchange serving area.

  • qualifying interest means the aggregate interest, discount or original issue discount receivable by a resident individual in any year of income

  • (1) ELIGIBLE ENTITY.—The term eligible entity’ means—