DIP Loan. Contemporaneously with the execution and delivery of the Original Agreement, the Sellers entered into a debtor-in-possession credit facility with FPS DIP LLC and the other lenders party thereto (including the revolving credit loans and term loans thereunder and as amended from time to time, the "DIP Loan").
DIP Loan. On the terms and subject to the conditions set forth herein, Lender hereby agrees to make to Borrower term loans in an aggregate original principal amount equal to the DIP Loan Commitment (such term loans or the outstanding principal balance thereof from time to time, as the context requires, being referred to as the “DIP Loan” or “DIP Loans”). The DIP Loans shall be funded in multiple advances on and after the Closing Date as needed and to the extent required as set forth in the Budget, for the payment of expenses set forth in the Budget in the amounts set forth in such Budget equal to 100% of the projected operating deficit for such [week] shown on the Budget and solely for those items and for Borrower (subject to the variance described in Section 4.1).
DIP Loan. Provided all conditions in Section 8 are satisfied, Lender agrees, subject to the terms and conditions hereinafter set forth, to advance to Borrower up to $1,424,273.37, or such lower amount as is approved by the Bankruptcy Court (the “DIP Loan”). Borrower's obligation to repay the DIP Loan shall be evidenced by that certain promissory note made and issued by Borrower in favor of Lender, substantially in the form attached hereto as Exhibit A (the “Note”).
DIP Loan. The Debtors shall use commercial best efforts to obtain approval by the Bankruptcy Court of the debtor-in-possession financing facility (the “DIP Financing”) to be provided by the Term Lenders (or a group thereof) and Term Administrative Agent pursuant to interim and final DIP Financing orders which, among other things, shall provide such Term Lenders with a security interest in the Debtors’ owned and leased real property, adequate protection payments and other protections customarily contained in such orders. The terms of the DIP Financing and the interim and final DIP Financing orders shall be on terms reasonably satisfactory to the Term Lenders.
DIP Loan. The Restructuring may be funded from a DIP Loan received from the Noteholders as DIP Lender, in the amount of up to $50,000 (including the pre- petition Loan of $25,000), provided that such a loan may be made at the sole discretion of the Noteholders and nothing shall require the Noteholders to make such a DIP loan. If made, the DIP Loan shall accrue interest at 12% and be senior and prior to all of pre-petition and post-petition liabilities and shall constitute allowed super-priority liens and claims under Bankruptcy Code section 364 (c), except for quarterly US Trustee fees. The Loan shall mature on the Effective Date of a Plan.As a pre-condition to issuance by the DIP Lender of the DIP Loan, the Debtor and Reorganized Debtor agree to issue to the DIP Lender, with Bankruptcy Court approval, a common stock purchase warrant (the “Warrant”) in a form and substance satisfactory to the DIP Lenders in their sole discretion and exercisable by the DIP Lender at any time after issuance into up to 20% of the outstanding equity interests of the Reorganized Debtor for an exercise price of $0.01 per share. At the time the warrant is issued, the DIP Lender agrees to pay a purchase payable by forgiveness of the DIP Facility.