Exit ABL Facility definition

Exit ABL Facility means the asset-based revolving credit facility provided for under the Exit ABL Credit Agreement.
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Exit ABL Facility means the senior secured revolving credit facility under the Exit ABL Facility Loan Agreement.
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Exit ABL Facility means either: (a) a replacement asset-based revolving loan facility pursuant to which the DIP ABL Lenders consent to converting all of their outstanding DIP ABL Facility Claims and commitments under the DIP ABL Facility into commitments under such Exit ABL Facility on such terms and conditions reasonably satisfactory to the Requisite First Lien Lenders, the DIP ABL Lenders, and, the Owners solely to the extent the provisions therein affect the legal and/or economic rights of the Owners or (b) a new asset-based revolving loan facility in an amount sufficient to indefeasibly repay in full in Cash on the Effective Date the DIP ABL Facility and satisfy section 1129 of the Bankruptcy Code, and with such other terms and conditions reasonably satisfactory to (i) the Requisite First Lien Lenders and (ii) the Owners solely to the extent the provisions therein affect the legal and/or economic rights of the Owners.
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Examples of Exit ABL Facility in a sentence

  • On the Effective Date, each holder of an allowed DIP ABL Facility Claim shall receive payment in full in cash or, if agreed to by the lenders under the DIP ABL Facility, the Debtors, and Oaktree, loans under the Exit ABL Facility in a face amount equal to the amount of such allowed DIP ABL Facility Claim.

  • Exit ABL Facility The Debtors will enter into an undrawn new asset-based revolving loan facility on the Effective Date.

  • Upon the Maturity Date or any other effective date of termination of the Loan Documents, the Borrower shall pay to the Administrative Agent all outstanding and unpaid Obligations (except for contingent indemnification obligations for which no claim has been asserted) including by exchange of the Obligations into loans under the Exit ABL Facility in accordance with an Acceptable Plan of Reorganization, and shall Cash Collateralize outstanding L/C Obligations (other than Letter of Credit Disbursements).

  • On the Effective Date, in full and final satisfaction, compromise, settlement, release, and discharge of and in exchange for all claims on account of, arising under or in connection with the DIP ABL Facility (the “DIP ABL Claims”), all amounts outstanding under the DIP ABL Facility as of the Effective Date shall be (a) paid in full in cash from the proceeds of the Exit ABL Facility or (b) exchanged into the Exit ABL Facility on terms acceptable to the Debtors and the Requisite Consenting Creditors.

  • The Debtors shall fund distributions under the Plan, as applicable, with: (1) the New Common Stock; (2) the proceeds of the New Common Equity Raise; (3) any proceeds resulting from the QHC Litigation Trust’s litigation, arbitration, or settlement of any QHC Litigation Trust Assets; (4) the Exit ABL Facility; and (5) the Debtors’ Cash on hand.


More Definitions of Exit ABL Facility

Exit ABL Facility means either (a) a new asset-based exit financing facility with aggregate total commitments of $430 million, which shall be on terms reasonably acceptable to the Debtors, the ABL Agent, and the Required Consenting Term Loan Lenders, and to be entered into on the Effective Date on the terms and conditions set forth in the Exit ABL Facility Documents and the Restructuring Support Agreement or (b) such other asset-based exit financing facility with terms reasonably acceptable to the Debtors, the ABL Agent, and the Required Consenting Term Loan Lenders to be entered into on the Effective Date.
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Exit ABL Facility means either (a) a replacement asset-based revolving loan facility pursuant to which one or more DIP ABL Lenders, each in its sole discretion, consents to convert some or all of its outstanding DIP ABL Facility Claims and commitments under the DIP ABL Facility into commitments under such Exit ABL Facility, or (b) a new asset-based revolving loan facility in an amount up to $400 million and, in all events, in an amount sufficient to pay in full in cash the DIP ABL Facility Claims as of the Effective Date.
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Exit ABL Facility means that certain Revolving Credit Agreement, dated as of [•], 2020, by and among NMG LTD and certain Debtors, as co-borrowers, each of the guarantors party thereto, the Exit ABL Agent, and the Exit ABL Lenders, as amended, restated, amended and restated, supplemented or otherwise modified, or replaced from time to time, in the approximate principal amount of $1.025 billion entered into in connection with the consummation of the Plan, which includes the Exit FILO Facility, and on terms mutually agreed upon by the Exit ABL Facility Agent, the Exit ABL Facility Lead Arrangers, and the Debtors.
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Exit ABL Facility means either: (a) that certain asset-based revolving loan facility pursuant to which the DIP ABL Agent and DIP ABL Lenders agree to amend and restate all of their outstanding DIP ABL Credit Facility Claims and commitments under the DIP ABL Credit Facility into commitments under such Exit ABL Facility on such terms and conditions satisfactory to the Debtors, the DIP ABL Agent, and the DIP ABL Lenders, and reasonably satisfactory to the Requisite First Lien Creditors or (b) a new asset-based revolving loan facility in an amount sufficient to indefeasibly repay in full in Cash on the Effective Date all Obligations (as defined in the DIP ABL Credit Agreement) in accordance with the terms and conditions of the DIP ABL Credit Agreement and the DIP Financing Orders and satisfy section 1129 of the Bankruptcy Code, and with such other terms and conditions satisfactory to the Debtors and the Requisite First Lien Creditors.
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Exit ABL Facility means the asset-backed revolving facility to be entered into by the Reorganized Debtors on the Plan Effective Date on terms reasonably satisfactory to the Required Consenting Creditors.
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Exit ABL Facility means the new money asset-based loan facility in the principal amount of $2,000,000,000 in revolving loan commitments provided for under the Exit ABL Facility Documents.
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