Second Lien Term Loan Facility definition
Examples of Second Lien Term Loan Facility in a sentence
The 1.75 Lien Term Loan Facility is secured by liens that are junior in priority to the liens securing the RBL Facility and the 1.5 Lien Notes and senior in priority to the liens securing the Second Lien Term Loan Facility on substantially all of the Debtors’ assets.
In accordance with section 1141 of the Bankruptcy Code, all Secured Creditor Trust Assets shall automatically vest in the Secured Creditor Trust free and clear of all Claims and Liens, other than Permitted Claims and Liens under the Second Lien Term Loan Facility and the Claims and Liens of the Second Lien Agent, Holders of Class III Claims and Bank of America, N.A..
As part of the exchange, each exchanging holder of the Second Lien Term Loan Facility was deemed to consent to certain amendments to the Second Lien Credit Agreement that eliminated substantially all of the restrictive covenants and events of default.
The 1.5 Lien Notes are secured by liens that are junior in priority to the liens securing the RBL Facility and senior in priority to the liens securing the1.75 Lien Term Loan Facility and the Second Lien Term Loan Facility on substantially all of the Debtors’ assets.
This agreement required the consent of certain lenders under the Second Lien Term Loan Facility that could not be obtained.