Exit Revolving Facility definition

Exit Revolving Facility means the senior secured revolving credit facility into which the DIP Revolving Facility will convert on the Conversion Date upon satisfaction of the conditions set forth in Annex II to this Agreement. On the Conversion Date, the Revolving Credit Facility in the amount of $625,000,000 constitutes the Exit Revolving Credit Facility as of such date.

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Exit Revolving Facility means the new money senior secured reserve-based facility subject to a borrowing base, on the terms set forth in the Exit Facility Credit Agreement.

Exit Revolving Facility means the new senior secured first lien first out revolving credit facility entered into by Reorganized Chaparral Parent, as borrower, the other Reorganized Debtors, the Exit Facility Agent, and the Exit Facility Revolving Lenders under the Exit Facility Loan Documents, which facility shall be (x) a part of, and exist under, the Exit Facility Credit Agreement and (y) consistent with the Exit Facility Term Sheet and which shall be in form and substance subject to the Creditor Approval Rights.

Examples of Exit Revolving Facility in a sentence

The Debtors shall provide to the Investors an opportunity to sponsor the Exit Term Loan and the Exit Revolving Facility, if any, on the same or better terms offered by any third party source of such facilities.
Each of the parties hereto hereby agrees that, upon the effectiveness of any Refinancing Amendment, this Agreement shall be deemed amended to the extent (but only to the extent) necessary to reflect the existence and terms of the Exit Revolving Facility Refinancing Indebtedness incurred pursuant thereto.
If any Revolving Lender becomes a Defaulting Lender (as defined below), then the Letter of Credit exposure of such Defaulting Lender will automatically be reallocated among the Revolving Lenders that are not Defaulting Lenders pro rata in accordance with their Commitments under the Exit Revolving Facility up to an amount such that the revolving credit exposure of each such non-Defaulting Revolving Lender does not exceed its respective Commitment.
Drawings under any Letter of Credit shall be reimbursed by the Borrower (whether with its own funds or with the proceeds of borrowings under the Exit Revolving Facility) within one business day after the drawing if notice thereof is received from the relevant Issuing Bank by 11:00 am New York City time on the next business day following such drawing (or within one business day of receipt of the notice if notice is received after 11:00 am).
To the extent that the Borrower does not reimburse the Exit Facility Administrative Agent for the account of the Issuing Bank within the time period specified above, the Revolving Lenders under the Exit Revolving Facility shall be irrevocably obligated to reimburse the Issuing Bank pro rata based upon their respective Commitments.

More Definitions of Exit Revolving Facility

Exit Revolving Facility means the revolving credit facility of the Issuer issued under the Exit Restated Credit Agreement upon the Conversion Date.

Exit Revolving Facility means the senior secured revolving credit facility to which the DIP Revolving Facility will convert into upon satisfaction of the conditions set forth in Annex I to Exhibit B of the DIP Revolving Credit Agreement.

Exit Revolving Facility means the new senior secured first-lien first-out revolving credit facility that will be effectuated on the Plan Effective Date in accordance with the Exit Facility Credit Agreement and the Plan.

Exit Revolving Facility. On the Exit Facility Conversion Date, the DIP Facility and the remaining principal amount of any Prepetition RBL Claims (if any) of each Prepetition RBL Lender that is also a DIP Lender(8) (as defined below) will, subject to the terms and conditions set forth herein, automatically be converted to a senior secured, first-out, revolving credit facility subject to a Borrowing Base (as defined below) and with commitments in an aggregate maximum principal amount of up to $629,420,912 less the aggregate principal amount of the Exit Term

Exit Revolving Facility means a new first lien revolving credit facility to be provided by the Revolving Facility Lenders pursuant to the Exit Revolving Credit Agreement entered into on the Effective Date and having the terms and conditions set forth on the term sheet attached as Exhibit E to the Restructuring Support Agreement and otherwise in form and substance reasonably satisfactory to the Required Supporting Parties.

Exit Revolving Facility means that certain senior, secured, first-lien “first-out” reserve-based revolving credit facility arising under the Exit Facility Credit Agreement and having terms consistent with the Exit Facility Term Sheet and on such other terms as set forth in the Exit Facility Credit Agreement and the other Exit Facility Documents.

Exit Revolving Facility has the meaning given to such term in the Restructuring Term Sheet.

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