Tranche B DIP Loans definition

Tranche B DIP Loans means all loans outstanding under the Tranche B

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Tranche B DIP Loans. Each member of the ad hoc group of Prepetition Second Lien Noteholders (as defined below) as set forth on Schedule A hereto (the “Ad Hoc Group”) and/or one or more of their respective affiliates or related funds (in such capacity, together with their successors and permitted assignees, the “Tranche B DIP Lenders”, and together with the Tranche A DIP Lenders, the “DIP Lenders”).

Tranche B DIP Loans has the meaning assigned to such term in the recitals to this Agreement.

Examples of Tranche B DIP Loans in a sentence

• The commitments under the DIP Facility relating to the Tranche A DIP Loans are referred to herein as the “Tranche A DIP Commitments” and the commitments under the DIP Facility relating to the Tranche B DIP Loans are referred to herein as the “Tranche B DIP Commitments”.

• For the avoidance of doubt, in no event may any net cash proceeds from Asset Sales (or excess cash) be used to reduce the outstanding balance of the Tranche B DIP Loans.

• During the Chapter 11 Cases, distributions of proceeds of DIP Collateral (as defined below) or proceeds of assets that do not constitute DIP Collateral, shall be applied (x) first, to all obligations owing in respect of the Tranche A DIP Loans until paid in full, and (y) second, to all obligations owing in respect of the Tranche B DIP Loans until paid in full.

• Wilmington Savings Fund Society, FSB or U.S. Bank, National Association (in such capacity as a common agent for the Tranche A DIP Loans and the Tranche B DIP Loans (each as defined below), together with its successors and assigns, the “DIP Agent”).

More Definitions of Tranche B DIP Loans

Tranche B DIP Loans means the DIP Loans in the amount of up to $75 million to be provided by the Tranche B DIP Lenders under the DIP Facility.

Tranche B DIP Loans. On the Effective Date, each Tranche B DIP Lender shall receive its pro rata share of (i) 100% of the Series A Preferred Stock, (ii) 50% of the Common Stock, (iii) Series A Warrants exercisable at the Series A Warrant Strike Price into 37.5% of the equity value of the Reorganized Debtors between the Series A Warrant ▇▇▇▇▇▇ Price and the Series B Warrant Strike Price and (iv) Series B Warrants exercisable at the Series B Warrant Strike Price into 27.5% of the equity value of the Reorganized Debtors above the Series B Warrant Strike Price (each such term, as defined in the Restructuring Support Agreement). As used herein, the “Restructuring Support Agreement” means the Restructuring Support Agreement, dated on or about January 31, 2016 (including all exhibit, schedules and annexes thereto), among the Debtors, ▇▇▇▇▇▇ F.X. Sillerman, the “Consenting Noteholders” referred to therein and the other parties thereto, as amended, supplemented or otherwise modified from time to time with the consent of the Required DIP Lenders.

Tranche B DIP Loans. A commitment fee of 3.00% of the Tranche B DIP Commitments payable in kind on the Closing Date. An annual administrative agency fee payable in cash to the DIP Agent on the Closing Date.

Tranche B DIP Loans and together with the Tranche A DIP Loans, the “DIP Loans”). The commitments under the DIP Facility relating to the Tranche A DIP Loans are referred to herein as the “Tranche A DIP Commitments” and the commitments under the DIP Facility relating to the Tranche B DIP Loans are referred to herein as the “Tranche B DIP Commitments”. The Tranche A DIP Commitments and Tranche B DIP Commitments are referred to herein as the “DIP Commitments”. The DIP Loans will be made solely for the purposes set forth under “Use of Proceeds” below. The Debtors shall not be permitted to incur Tranche A DIP Loans in excess of $30.0 million without the prior written consent of the Tranche B DIP Lenders (excluding the payment of the Tranche A PIK Commitment Fee).