Term Loan DIP Facility definition

Term Loan DIP Facility means the $50,000,000 debtor-in-possession credit facility entered into on the terms and conditions set forth in the Term Loan DIP Documents, and which shall refinance all amounts outstanding under the Priority Term Loan Facility and satisfy all Priority Term Loan Claims, subject to the terms and conditions of the DIP Orders.
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Term Loan DIP Facility means the $50,000,000 debtor-in-possession credit facility to be provided to the Company Parties in accordance with the terms, and subject to the conditions, set forth in the Term Loan DIP Facility Term Sheet and the DIP Orders.
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Term Loan DIP Facility means the new, superpriority, senior secured delayed draw term loan debtor-in-possession financing facility to be issued by the Reorganized Debtors in accordance with the Term Loan DIP Documents comprising up to $40 million in principal amount of Term Loan DIP New Money Loans plus up to approximately $66.9 million in principal amount of Priority Term Loans rolled into the Term Loan DIP Facility pursuant to the DIP Orders.
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Examples of Term Loan DIP Facility in a sentence

  • Notably, substantially all of the Ad Hoc Group of Term Loan Lenders are participating in the Term Loan DIP Facility.

  • Both the DIP ABL Facility and the Term Loan DIP Facility are being provided by the Debtors’ existing lenders.

  • As a result, the DIP ABL Facility paid down the claims under the ABL Facility (which, as oversecured claims, would have otherwise accrued interest during the Debtors’ chapter 11 cases) and the Term Loan DIP Facility will be satisfied with new debt and New Equity (as opposed to a cash recovery).

  • If the Priority Term Loan Claims are not satisfied with the proceeds of the Term Loan DIP Facility, on the Effective Date, the Priority Term Loan Claims shall be Allowed in the aggregate principal amount of $26,594,478, plus accrued and unpaid interest on such principal amount through the Petition Date and any fees and other expenses arising under or in connection with the Priority Term Loan Credit Agreement.

  • As a result, the DIP ABL Facility will pay down the claims under the ABL Facility (which, as oversecured claims, would otherwise accrue interest during the Debtors’ chapter 11 cases) and the Term Loan DIP Facility will be satisfied with new debt and Reorganized HoldCo equity (as opposed to a cash recovery).

  • Any contrary provision hereof notwithstanding, following the occurrence of the Effective Date and the making of distributions on the Effective Date pursuant hereto, (i) any Cash held by the Wind-Down Debtors in excess of the Wind-Down Amount and (ii) the proceeds of any non-Cash Estate assets vested in the Wind-Down Debtors, shall be payable first to Holders of Term Loan DIP Facility Claims and second to Holders of First Lien Credit Agreement Claims until such claims are indefeasibly paid in full.

  • Except to the extent such holder agrees to less favorable treatment, each holder of an Allowed Term Loan DIP Facility Claim shall receive, in full and final satisfaction, settlement, release, and discharge of, and in exchange for, each such Claim, subject to the U.S. Citizen Determination Procedures (i) its Pro Rata share of the $50 million of the New Money Preferred Equity, and/or (ii) New Money Preferred Warrants.

  • Unless otherwise specifically provided for in the Restructuring Support Agreement, Plan, Confirmation Order, the ABL DIP Facility, the Term Loan DIP Facility, the DIP Orders, or other Bankruptcy Court order or otherwise required by applicable law, postpetition interest shall not accrue or be paid on any Claims or Interests, and no holder of a Claim or Interest shall be entitled to interest accruing on or after the Petition Date on any such Claim or Interest.

  • The percentage ratio of the number of shares of New Money Preferred Equity to the number of New Money Preferred Warrants to be issued to each holder of an Allowed Term Loan DIP Facility Claim that is a Non-U.S. Citizen is subject to the priorities set forth in the New Money Preferred Warrant Agreement.

  • The issuance and distribution, or other transfer, on the Effective Date of Reorganized Debtor Equity to the Distribution Agent for the benefit of Holders of Term Loan DIP Facility Claims and Holders of Allowed First Lien Credit Agreement Claims in Class 3 in accordance with the terms Article XI herein shall be authorized.


More Definitions of Term Loan DIP Facility

Term Loan DIP Facility means the credit facilities made available to the Borrower pursuant to the Term Loan DIP Credit Agreement.
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Term Loan DIP Facility means the new, superpriority, senior secured delayed draw term loan debtor-in-possession financing facility to be issued by the Reorganized Debtors in accordance with the Term Loan DIP Documents comprising up to
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Term Loan DIP Facility means the new, superpriority, senior secured delayed draw term loan debtor-in-possession financing facility to be issued by the Reorganized Debtors in accordance with the Term Loan DIP Documents.
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Term Loan DIP Facility. Claims As set forth in the Plan, consistent with the terms and conditions set forth herein. Administrative, Priority and Priority Tax Claims As set forth in the Plan, consistent with the terms and conditions set forth herein. Other Secured Claims As set forth in the Plan, consistent with the terms and conditions set forth herein. Prepetition ABL Loan Claims As set forth in the Plan, consistent with the terms and conditions set forth herein.
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Term Loan DIP Facility means the loans under the debtor in possession financing facility on the terms and conditions set forth in the Term Loan DIP Term Sheet and Exhibit B to the Final DIP Order.
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Related to Term Loan DIP Facility

  • Term Loan Facility means the Term Loan Commitments and the provisions herein related to the Term Loans.

  • Term Loan Facilities means the Term Loan A Facility and the Term Loan B Facility.

  • Term Loan A has the meaning set forth in Section 2.2(a).

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Term Loan B has the meaning set forth in Section 2.2(b).

  • Term Loan B Facility means the facility described in Section 2.01(b) providing for an advance of the Term Loan B to the Borrower by the Term Loan B Lenders in the original principal amount of $565,000,000, as adjusted from time to time pursuant to the terms of this Agreement.

  • DIP Facility means the debtor-in-possession secured financing facility provided to the Debtors by the DIP Lenders pursuant to the DIP Credit Agreement as authorized by the Bankruptcy Court pursuant to the DIP Facility Order.

  • New Term Loan Facility means the facility providing for the Borrowing of New Term Loans.

  • Term Loan Lenders means the lenders from time to time party to the Term Loan Agreement.

  • Term Loan C has the meaning set forth in Section 2.2(c).

  • Term Loan Obligations means the “Obligations” as defined in the Term Loan Credit Agreement.

  • Term Loan Commitments means the aggregate amount of such commitments of all Lenders.

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.15(a)(ii).

  • Term Loan Credit Agreement has the meaning set forth in the recitals to this Agreement.

  • Term Loan Claims means the Claims arising in respect of the term facility under the Credit Agreement.

  • Tranche B Term Loan Facility as defined in the definition of “Facility” in this Section 1.1.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Term Loan Lender means a Lender with a Term Loan Commitment or a Term Loan.

  • Term Loan Notes means the promissory notes of the Borrower (if any) in favor of any of the Term Loan Lenders evidencing the portion of the Term Loan provided by any such Term Loan Lender pursuant to Section 2.2(a), individually or collectively, as appropriate, as such promissory notes may be amended, modified, extended, restated, replaced, or supplemented from time to time.

  • Term Loan Commitment is, for any Lender, the obligation of such Lender to make a Term Loan, up to the principal amount shown on Schedule 1.1. “Term Loan Commitments” means the aggregate amount of such commitments of all Lenders.

  • Loan Facility means the Revolving Loan Facility, the Transaction Specific Loan Facility or the Transaction Specific Revolving Loan Facility established by Lender in favor of Borrower under the Loan Documents.

  • Existing Revolving Credit Facility means the $600,000,000 (subject to increase in accordance with its terms) revolving credit facility evidenced by that certain Amended and Restated Revolving Credit Agreement dated as of June 14, 2022 by and among the Borrower, the Parent, the lenders from time to time party thereto as “Lenders”, and JPMorgan Chase Bank, N.A., as Agent.

  • Revolving Credit Facility means, at any time, the aggregate amount of the Revolving Credit Lenders’ Revolving Credit Commitments at such time.

  • Exit Facility Lenders means each of the lenders under the Exit Facility Credit Agreement, solely in their respective capacities as such.

  • Refinancing Term Loan Commitments has the meaning assigned to such term in Section 2.26(a).

  • Term Loan A Commitment means, with respect to each Lender, its Term Loan A Commitment, and, with respect to all Lenders, their Term Loan A Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.