Required Term DIP Lenders definition

Required Term DIP Lenders means, as of the relevant date, Term DIP Lenders holding at least 50.01% of the aggregate outstanding principal amount of Term DIP Loans that are held by Term DIP Lenders; provided that, to the extent the consent of the Required Term DIP Lenders is required with respect to any changes, modifications, or amendments to the underlying economics of the Restructuring Transaction, all such changes, modifications, or amendments shall require the consent of Term DIP Lenders holding at least 66.67% of the aggregate outstanding principal amount of Term DIP Loan Claims that are held by Term DIP Lenders.
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Required Term DIP Lenders means the “Required Lenders” (as defined in the Term DIP Credit Agreement).
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Examples of Required Term DIP Lenders in a sentence

  • Absent further order of this Court, the Debtors shall not create or permit to exist any post-petition liens or encumbrances on any of their assets or property except any post-petition liens allowed pursuant to the Term DIP Loan Documents, post-petition liens created in connection with the ABL DIP Facility and as otherwise agreed to by Term DIP Agent (acting at the direction of the Required Term DIP Lenders) in writing.

  • The Challenge Period may only be extended: (a) with the prior written consent of counsel to the Term DIP Agent (at the direction of the Required Term DIP Lenders), as memorialized in an order of this Court, or (b) pursuant to an order of this Court upon a showing of good cause for such extension.

  • Capitalized terms used but not defined in this DIP Facility Term Sheet shall have the meanings ascribed to such terms in the RSA or the Restructuring Term Sheet, to which this Term Loan DIP Facility Term Sheet is attached.KE 69495800.6Variance) (each as defined herein), which Approved Budget shall be prepared by Borrower and shall be in form and substance acceptable to the Required Term DIP Lenders, and (iv) to fund the Carve-Out(as defined herein).

  • The Challenge Periodmay only be extended: (a) with the prior written consent of counsel to the Term DIP Agent (at the direction of the Required Term DIP Lenders), as memorialized in an order of this Court, or(b) pursuant to an order of this Court upon a showing of good cause for such extension.

  • For purposes of the foregoing, “Carve Out Trigger Notice” shall mean a written notice delivered by the Term DIP Agent at the direction of the Required Term DIP Lenders to the Debtors and their counsel, the U.S. Trustee, and lead counsel to any official committeethe Committee, which notice may bedelivered following the occurrence of an Event of Default and stating that the Post-Carve Out Trigger Notice Cap has been invoked.

  • The Initial Approved Budget shall be modified or supplemented from timeto time consistent with the provisions of paragraph 16 hereof ( i.e., a revised 13-week cash flow forecast that must be approved by the Term DIP Agent at the direction of the Required Term DIP Lenders), in each case without further notice, motion or application to, order of, or hearing before, this Court; provided, however, that a copy of any such material modification or supplement shall be provided to the Committee.

  • For purposes of the foregoing, “Carve Out Trigger Notice” shall mean a writtennotice delivered by the Term DIP Agent at the direction of the Required Term DIP Lenders to the Debtors and their counsel, the U.S. Trustee, and lead counsel to any official committee, which notice may be delivered following the occurrence of an Event of Default and stating that the Post-Carve Out Trigger Notice Cap has been invoked.

  • The Initial Approved Budget shall be modified or supplemented from time to time consistent with the provisions of paragraph 16 hereof ( i.e., a revised 13-week cash flowforecast that must be approved by the Term DIP Agent at the direction of the Required Term DIP Lenders), in each case without further notice, motion or application to, order of, or hearing before, this Court; provided, however, that a copy of any such material modification or supplement shall be provided to the Committee.

  • For purposes of the foregoing, “Carve Out Trigger Notice” shall mean a written notice delivered by the TermDIP Agent at the direction of the Required Term DIP Lenders to the Debtors and their counsel, the U.S. Trustee, and lead counsel to the Committee, which notice may be delivered following the occurrence of an Event of Default and stating that the Post-Carve Out Trigger Notice Cap has been invoked.

  • The Initial Approved Budget shall be modified or supplemented from time to time consistent with the provisions of paragraph 16 hereof ( i.e., a revised 13-week cash flowforecast that must be approved by the Term DIP Agent at the direction of the Required Term DIP Lenders), in each case without further notice, motion or application to, order of, or hearing before, this Court.

Related to Required Term DIP Lenders

  • Required Term Lenders means, as of any date of determination, Term Lenders holding more than 50% of the Term Facility on such date; provided that the portion of the Term Facility held by any Defaulting Lender shall be excluded for purposes of making a determination of Required Term Lenders.

  • Required Term A Lenders means, as of any date of determination, Term A Lenders holding more than 50% of the Term A Facility on such date; provided that the portion of the Term A Facility held by any Defaulting Lender shall be excluded for purposes of making a determination of Required Term A Lenders.

  • Required Term Loan Lenders means, at any date, Non-Defaulting Lenders having or holding a majority of the sum of (i) the Adjusted Total Term Loan Commitment at such date and (ii) the aggregate outstanding principal amount of the Term Loans (excluding Term Loans held by Defaulting Lenders) at such date.

  • Required Term B Lenders means, as of any date of determination, Term B Lenders holding more than 50% of the Term B Facility on such date; provided that the portion of the Term B Facility held by any Defaulting Lender shall be excluded for purposes of making a determination of Required Term B Lenders.

  • Requisite Term Loan Lenders shall in no event mean less than two Term Loan Lenders.

  • Majority Term Lenders at any time, (a) if only one Term Lender holds the Term Loan, such Term Lender; and (b) if more than one Term Lender holds the Term Loan, at least two Term Lenders who hold more than 50% of the principal sum of all Term Loans outstanding; provided that the portion of the Term Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Majority Term Lenders; provided further that a Lender and its Affiliates shall be deemed one Lender.

  • Required Facility Lenders means, as of any date of determination, with respect to one or more Facilities, Lenders having more than 50% of the sum of (a) the Total Outstandings under such Facility or Facilities and (b) the aggregate unused Commitments under such Facility or Facilities; provided that the unused Commitments of, and the portion of the Total Outstandings under such Facility or Facilities held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of the Required Facility Lenders.

  • Incremental Term Lenders (a) on any Increased Facility Activation Date relating to Incremental Term Loans, the Lenders signatory to the relevant Increased Facility Activation Notice and (b) thereafter, each Lender that is a holder of an Incremental Term Loan.

  • Extended Term Loans has the meaning specified in Section 2.15(a).

  • Initial Term Loan Lender means a Lender with an Initial Term Loan Commitment or an outstanding Initial Term Loan.

  • Tranche B Term Loan Lender means a Lender with a Tranche B Term Loan Commitment or an outstanding Tranche B Term Loan.

  • Delayed Draw Term Loan Commitment Termination Date means the earliest to occur of (i) December 31, 2008, (ii) the date the Delayed Draw Term Loan Commitments are permanently reduced to zero pursuant to Section 2.1, and (iii) the date of the termination of the Delayed Draw Term Loan Commitments pursuant to Section 11.1.

  • Requisite Revolving Lenders means Lenders having (a) more than 66 2/3% of the Revolving Loan Commitments of all Lenders, or (b) if the Revolving Loan Commitments have been terminated, more than 66 2/3% of the aggregate outstanding amount of the Revolving Loan.

  • Supermajority Revolving Lenders means Lenders having (a) 80% or more of the Revolving Loan Commitments of all Lenders, or (b) if the Revolving Loan Commitments have been terminated, 80% or more of the aggregate outstanding amount of the Revolving Loan (with the Swing Line Loan being attributed to the Lender making such Loan) and Letter of Credit Obligations.

  • Tranche A Term Loan Lender means a Lender with a Tranche A Term Loan Commitment or an outstanding Tranche A Term Loan.

  • Incremental Term Loan Amendment has the meaning assigned to such term in Section 2.20.

  • Tranche B Term Lender each Lender that has a Tranche B Term Commitment or that holds a Tranche B Term Loan.

  • Tranche B Term Loans means Loans made or deemed made by the Tranche B Term Lenders pursuant to Section 2.01(b) or pursuant to Section 1 of the First Amendment to 2009 Credit Agreement.

  • Required Revolving Lenders means, as of any date of determination, Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders.

  • Extended Term Loan Repayment Amount shall have the meaning provided in Section 2.5(c).

  • Extended Term Loan shall have the meaning assigned to such term in Section 2.21(e).

  • New Term Loan Lender shall have the meaning provided in Section 2.14(c).

  • DIP Lenders has the meaning assigned to such term in Section 2.05(b).

  • Replaced Term Loans has the meaning assigned to such term in Section 9.02(c).

  • Incremental Term Loan Facility has the meaning set forth in Section 2.16(a).