Second Out Term Loans definition
Second Out Term Loans means a first lien senior secured second-out non-amortizing fully-drawn term loan in the principal amount of an individual Second Out Term Lender’s RBL Claim, which term loan shall (a) mature seven (7) years after the Effective Date, (b) accrue interest at the LIBO rate plus 3.00% pursuant to a three-month interest period, (C) be repaid in an amount sufficient to repay all then-remaining indebtedness in respect of such Second Out Term Loans seven (7) years after the Effective Date, and otherwise be on terms and conditions consistent with the Restructuring Support Agreement and acceptable to the Required Consenting RBL Lenders.
Second Out Term Loans means “Loans” as defined in the Second Out Term Loan Credit Agreement.
Second Out Term Loans means, collectively, (i) the Initial Exchange Second Out Term Loans made pursuant to Section 2.01(2)(ii) and (ii) the Subsequent Exchange Second Out Term Loans made pursuant to Section 2.16(1)(i)(B).
Examples of Second Out Term Loans in a sentence
The proceeds of the Second Out Term Loans will be used on the Second Out Closing Date (i) to consummate the Second Out Closing Date Refinancing and (ii) to pay the applicable Transaction Expenses.
The Borrower has requested that the Lenders make available on the Closing Date to the Borrower up to (i) $900,000,000 of Closing Date Term Loans and (ii) $65,000,000 of Second Out Term Loans, in each case on the terms and conditions set forth herein, the proceeds of which will be used for the purposes set forth in Section 6.14.
More Definitions of Second Out Term Loans
Second Out Term Loans shall have the meaning provided in Section 2.1(a)(ii).
Second Out Term Loans means the Loans, if any, made by the Second Out Term Lenders on the Second Out Closing Date to the Borrower pursuant to Section 2.01(1).
Second Out Term Loans has the meaning set forth in the Proposed Plan.
Second Out Term Loans means (i) the term loans made by the applicable Term Lenders to the applicable Borrower pursuant to Section 2.01(b), (ii) any Incremental Term Loans in the form of additional Second-Out Term Loans made by the applicable Incremental Term Lenders to the applicable Borrower pursuant to Section 2.01(c) and (iii) any Refinancing Term Loans incurred to Refinance Indebtedness described in clause (i) or clause (ii) above or this clause (iii), in each case ranking equally and ratably in right of security and payment with the Indebtedness being refinanced (including as to waterfall and payment priority pursuant to a Permitted First Lien Intercreditor Agreement) solely to the extent permitted by, and subject to the limitations described in, this Agreement and any Permitted First Lien Intercreditor Agreement.
Second Out Term Loans means any Term Loans outstanding on the Issue Date other than the First-Out Term Loans.
Second Out Term Loans has the meaning set forth in the preamble.