New Term Loan Facility. (a) The Lead Borrower shall have the right to request (by written notice to the Administrative Agent), at any time after the Closing Date, that one or more Lenders (and/or one or more other Persons which are Eligible Assignees and which will become Lenders) provide New Term Loan Commitments to the Lead Borrower and, subject to the terms and conditions contained in this Agreement and in the respective New Term Loan Commitment Agreement, make Term Loans (“New Term Loans”) pursuant thereto; it being understood and agreed, however, that:
New Term Loan Facility. A first lien term loan facility in an aggregate principal amount equal to $[__] million (the “New Term Loan Facility,” the loans thereunder, the “New Term Loans” and the lenders thereunder, the “New Term Loan Lenders”). Pursuant to the Plan, each Existing Lender that is a holder of Existing Loans and declines to participate in the RBL Exit Facility (collectively, the “Non-Electing Lenders”), as part of the treatment of their obligations under the Plan, shall become New Term Loan Lenders on the Plan Effective Date in respect of New Term Loans deemed made by such New Term Loan Lenders on the Plan Effective Date as “take-back” paper (or similar) in an amount equal to such New Term Loan Lender’s pro rata share of the amount of the New Term Loan Facility. The New Term Loan Facility shall be secured pari passu with the other Obligations on a “last-out” basis with respect to the payment priority. Without limiting the payment priority set forth in the mandatory and optional 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, pro rata to pay (i) all amounts outstanding under the RBL Exit Facility (including, without limitation, interest, principal, fees and cash-collateralization of Letters of Credit (as defined below)), (ii) hedging agreements constituting Obligations and (iii) cash management obligations constituting Obligations and second, to pay amounts outstanding under the New Term Loan Facility. Letter of Credit Sublimit: The RBL Exit Facility will include a sub-facility for standby letters of credit (each, a “Letter of Credit”) in the aggregate principal amount not to exceed $5 million. Amortization: There shall be no amortization of the Revolving Loans or the New Term Loans. Borrowing Base and Borrowing Base Redetermination: Availability under the RBL Exit Facility shall be subject to a borrowing base (the “Borrowing Base”), which shall be initially determined and periodically redetermined in a customary manner (and, for the avoidance of doubt, giving effect to hedging agreements constituting Obligations) (each such redetermination, a “Borrowing Base Redetermination”) and as set forth below. Initial Borrowing Base. On the Plan Effective Date, the initial Borrowing Base shall be $500 million. Thereafter, until the First Scheduled Redetermination Date (as defined below), the Borrowing Base shall be the amount during the corresponding period...
New Term Loan Facility. The final maturity of the New Term Loan Facility will occur on the 42 month anniversary of the Closing Date (the “New Term Loan Maturity Date”).
New Term Loan Facility. (a) The Lead Borrower, the German Borrower or any U.K. Borrower (as applicable) shall have the right to request (by written notice to the Administrative Agent), at any time after the Closing Date, that one or more Lenders (and/or one or more other Persons which are Eligible Assignees and which will become Lenders) provide New Term Loan Commitments to the applicable Borrower and, subject to the terms and conditions contained in this Agreement and in the respective New Term Loan Commitment Agreement, make Term Loans (“New Term Loans”) pursuant thereto; it being understood and agreed, however, that (i) no Lender shall be obligated to provide a New Term Loan Commitment as a result of any such request by the applicable Borrower, and until such time, if any, as such Lender has agreed in its sole discretion to provide a New Term Loan Commitment and executed and delivered to the Administrative Agent and the applicable Borrower a New Term Loan Commitment Agreement as provided in clause (b) of this Section 2.23, such Lender shall not be obligated to fund any New Term Loans, (ii) any Lender (including any Eligible Assignees who will become a Lender) may so provide a New Term Loan Commitment without the consent of any other Lender, (iii) each Class of New Term Loan Commitments, and all New Term Loans to be made pursuant thereto, shall be denominated in Dollars, Euros or, in the case of any U.K. Borrower only, Sterling (in addition to Dollars or Euros), (iv) the amount of each Class of New Term Loan Commitments shall be in a minimum aggregate amount for all Lenders which provide a New Term Loan Commitment under such Class of New Term Loans (including Eligible Assignees who will become Lenders) of at least $25,000,000, €25,000,000 or £15,000,000, as applicable (or such lower amount as may be reasonably acceptable to the Administrative Agent) and in integral multiples of $1,000,000, €1,000,000 or £1,000,000, as applicable, in excess thereof (or such other integral multiple as may be reasonably acceptable to the Administrative Agent), (v) the aggregate amount of all New Term Loan Commitments provided pursuant to this Section 2.23 and the aggregate principal amount of all New Term Loans to be made pursuant thereto shall not exceed (x) the Maximum Incremental Amount at such time and (y) with respect to New Term Loans incurred by the German Borrower or any U.K. Borrower, shall not exceed the Maximum Incremental Sub-Limit Amount at such time, (vi) the up-front fees and, if ap...
New Term Loan Facility. Company exercised its right and obligation under the Original Credit Agreement to request the establishment of new term loan commitments (the “New Term Loan Commitments”) in accordance with this Section 2.20 in an amount equal to $1,000,000,000 in the aggregate for such New Term Loan Commitments. Such New Term Loan Commitments were allocated to Persons who were either Lenders prior to such time, Administrative Agent or other Persons that were Eligible Assignees who held bond Indebtedness of Company (other than Loans) (each, a “New Term Loan Lender”).
New Term Loan Facility. Company exercised its right and obligation under the Original Credit Agreement to request the establishment of new term loan commitments (the “New Term Loan Commitments”) in accordance with this Section 2.20 in an amount equal to $1,000,000,000 in the aggregate for such New Term Loan Commitments. Such New Term Loan Commitments were allocated to Persons who were either Lenders prior to such time, Administrative Agent or other Persons that were Eligible Assignees who held bond Indebtedness of Company (other than Loans) in a principal amount of not less than an amount determined by the Lenders Steering Committee (each, a “New Term Loan Lender”).
New Term Loan Facility. In the event SEI elects to accomplish all or a portion of the increase with the creation of a New Term Loan Facility:
New Term Loan Facility. In the event the Borrower elects to accomplish all or a portion of the increase with the creation of a New Term Loan Facility:
New Term Loan Facility. Promptly upon the initial funding under the New Term Loan Facility, Parent shall furnish to Agent true, correct and complete copies of the Term Loan Agreements evidencing the New Term Loan Facility and any related guarantees and security agreements constituting Term Loan Documents entered into in connection therewith on the date of such initial funding (it being agreed that if any of the foregoing shall not then be available, Parent shall deliver it promptly upon its becoming available).
New Term Loan Facility
