Exit Term Facility definition
Exit Term Facility means the senior secured term loan facility under the Exit Term Facility Loan Agreement.
Exit Term Facility means that certain term loan credit facility, if any, to be provided to the Debtors or Reorganized Debtors, as applicable, pursuant to the Exit Term Loan Term Sheet and other Exit Term Facility Documents, and otherwise in accordance with the terms, and subject in all respects to the conditions, set forth in the Plan.
Exit Term Facility means a term loan facility that constitutes either: (a) a replacement term loan facility pursuant to which the DIP Term Lenders consent to converting all of their outstanding DIP Term Claims and commitments under the DIP Term Facility into commitments under such Exit Term Facility on such terms and conditions reasonably satisfactory to the Debtors, the Requisite First Lien Creditors and the DIP Term Lenders or (b) a new term loan facility in an amount sufficient to indefeasibly repay in full in Cash, satisfy or fund, as applicable, on the Effective Date all amounts outstanding under the DIP Term Facility, and provides for the repayment of (i) all amounts outstanding under the FILO Note Claims and (ii) up to an additional $82 million, upon such other terms and conditions reasonably satisfactory to the Debtors and the Requisite First Lien Creditors; provided, however, that the Reorganized Debtors shall have minimum liquidity (including unrestricted Cash and availability under the Exit ABL Facility as of the Effective Date) of $65 million; provided, further, however, that the principal amount of the Exit Term Facility may be further increased with the prior written consent of the Requisite First Lien Creditors.
Examples of Exit Term Facility in a sentence
Cortland Capital Market Services LLC shall act as the administrative agent and the collateral agent for the Exit Term Facility (collectively, the “Exit Facility Agent”).
The rights and priorities of the liens securing the Exit ABL Facility, the Exit Secured Notes (as defined below) or the Replacement First Lien Financing (as defined below), as applicable, and the Exit Term Facility (as defined below) shall be set forth in the Exit Intercreditor Agreement.
More Definitions of Exit Term Facility
Exit Term Facility means the senior secured term loan facility, in accordance with and subject to the terms of the Exit Term Loan Credit Agreement.
Exit Term Facility means the credit facility provided for under the Exit Term Facility Agreement.
Exit Term Facility. On the Exit Facility Conversion Date, the aggregate principal amount of any Prepetition RBL Claims of each Prepetition RBL Lender that is not a DIP Lender (if any, the “Term Lenders” and together with the Revolving Lenders, collectively, the “Lenders”) will automatically be converted to a non-amortizing, last-out term loan facility secured in a manner pari passu with the Exit Revolving Facility (the “Exit Term Facility”). The loans under the Exit Term Facility are collectively referred to as “Term Loans” and together with Revolving Loans, the “Exit Loans”. “Term Facility Amount” means, at any time from and after the Exit Facility Conversion Date, an amount equal to the aggregate outstanding principal of all Term Loans at such time. Without limiting the payment priority set forth in the mandatory and voluntary prepayment provisions below, all proceeds of Collateral (as defined below) after the occurrence and during the continuance of an event of default shall be allocated, first, to pay all amounts outstanding under the Exit Revolving Facility (including, without limitation, interest, principal, fees, unreimbursed amounts drawn under Letters of Credit (as defined below) and cash-collateralization of undrawn Letters of Credit) and, second, to pay amounts outstanding under the Exit Term Facility. Swingline Facility: In connection with the Exit Revolving Facility, JPMCB (in such capacity, the “Swingline Lender”) will make available to the Borrower a swingline facility (the “Swingline Facility”) in U.S. dollars under which the Borrower may make short-term borrowings upon same-day notice ((so long as notice delivered by 3:00 pm New York City time) in a maximum amount at any time outstanding not to exceed $25,000,000 and in a minimum amount of $100,000 and integral increments of $10,000 in excess thereof, subject to customary notice requirements provided that no swingline loans shall be made if such swingline loan would cause the Total Revolving Outstandings to exceed the Revolving Loan Limit (as defined below). Except for purposes of calculating the commitment fee described below, any such swingline borrowings will reduce Availability (as defined below) under the Exit Revolving Facility on a dollar-for-dollar basis. Repayment of swingline loans must occur on or prior to the earlier of 15 business day after the making of such loan or the swingline maturity date. Upon notice from the Swingline Lender, the Revolving Lenders will be unconditionally obligated to purc...
Exit Term Facility. On the Exit Facility Conversion Date, the aggregate principal amount of any Prepetition RBL Claims of each Prepetition RBL Lender that is not a DIP Lender (if any, the “Term Lenders” and together with the Revolving Lenders, collectively, the “Lenders”) will automatically be converted to a non-amortizing, last-out term loan facility secured in a manner pari passu with the Exit Revolving Facility (the “Exit Term Facility”). The loans under the Exit Term Facility are collectively referred to as “Term Loans” and together with Revolving Loans, the “Exit Loans”. “Term Facility Amount” means, at any time from and after the Exit Facility Conversion Date, an amount equal to the aggregate outstanding principal of all Term Loans at such time. Without limiting the payment priority set forth in the mandatory and voluntary prepayment provisions below, all proceeds of Collateral (as 131
Exit Term Facility means the term loan facility provided for under the Exit Term Facility Agreement.