Examples of Third Lien Credit Agreement in a sentence
SA (Daan du Toit, DST, SA Mission to the EU), confirmed the strengthening of the dialogue and SA’s commitment to work towards the signature of an MoU on EGNOS by Commissioner Tajani and Minister Pandor in October 2011 on the occasion of the international astronomic congress in SA.
Related Party Transactions Third Lien Credit AgreementOn December 11, 2020, Vince, LLC entered into the $20,000 Third Lien Credit Facility pursuant to the Third Lien Credit Agreement, by and among Vince, LLC, as the borrower, SK Financial, as agent and lender, and other lenders from time-to-time party thereto.
Upon prepayment and termination in full of the Revolver, the First and Third Lien Credit Agreement and the Second Lien Credit Agreement required release of the Revolver Cash Collateral under the First and Third Lien Credit Agreement to prepay outstanding term loans under the Second Lien Credit Facility (the “Prepayment Requirement”).
On June 7, 2021, the Company; and the requisite amount of First Lien Lenders and Second Lien Lenders amended the First and Third Lien Credit Agreement and the Second Lien Credit Agreement, respectively, to waive and remove the Prepayment Requirement, providing the Company access to the released Revolver Cash Collateral to fund general working capital needs and these cases.
The Company defaulted under the First and Third Lien Credit Agreement in July 2020 and again in October 2020, as a result of its failure to comply with certain reporting and operational requirements and financial covenants.