Sponsor DIP Loans definition

Sponsor DIP Loans means up to $108 million in new money (or approximately $100 million net of premiums) term loans provided by the Sponsors pursuant to the DIP Documents and DIP Orders.

Examples of Sponsor DIP Loans in a sentence

  • First, the Debtors obtained an immediate infusion of essential new capital through $100 million (net of premiums) in Lender DIP Loans and$100 million (net of premiums) in Sponsor DIP Loans.

  • The Plan further ensures the Reorganized Debtors will have sufficient capital to fund their exit and post-emergence liquidity needs as all Lender DIP Loans will roll into the Priority Exit Facility and the Sponsor DIP Loans will be exchanged for New Common Stock upon emergence.

  • Out TLTB Facility, and (4) each Holder of the Sponsor DIP Loans will receive its pro rata share of 100% of the New Common Stock, subject to dilution by the Management Incentive Plan.

  • Guidelines that are communicated to parents/guardians will outline the responsibilities of parents in ensuring a safe online learning environment including, for example, an appropriate physical space for distance learning and their responsibility for monitoring online safety at home.

Related to Sponsor DIP Loans