Second Lien Facility. The Second-Lien Facility shall have been entered into by the parties thereto and the closing of the loan transaction contemplated therein shall occur prior to or substantially simultaneously with the Closing hereunder.
Second Lien Facility. (a) The Company and Plainfield BDC LLC, an Affiliate of Oneida (“Plainfield”), have entered into a letter agreement, accepted and agreed to on January 23, 2006 (together with the Summary of Terms and Conditions attached as Schedule A thereto, the “Debt Commitment Letter”), whereby Plainfield agreed, subject to the terms and conditions in the Debt Commitment Letter, that Plainfield or one or more of its affiliates or designees would provide debt financing in an aggregate amount of $15,000,000 (the “Second Lien Facility”) to the Company. The Second Lien Facility will be on the terms set forth in the Debt Commitment Letter and will be secured by a second lien position on all of the Company’s and the Company’s subsidiaries’ assets and properties and a pledge of 100% of the equity interests of the Company’s subsidiaries (the “Collateral”); subject only to a first lien position in favor of the First Lien Lenders up to the Cap. The Collateral shall consist of the same assets and properties of the Company and its subsidiaries that secure the First Lien Facility.
Second Lien Facility. (a) The Borrower shall enter into the Second Lien Facility Agreement on terms satisfactory to each Lender and which shall:
Second Lien Facility. Concurrently on the Closing Date, the Second Lien Credit Agreement shall have been entered into and be effective and the Borrower shall have received gross proceeds of not less than $45,000,000 thereunder.
Second Lien Facility. The Second Lien Credit Agreement and the documents to be executed pursuant to the terms thereof shall have become effective in accordance with their terms and the loans under Second Lien Credit Agreement shall have been made, substantially concurrently with the initial funding of Loans hereunder, in accordance with the terms thereof.
Second Lien Facility. The Supporting Lenders consent to the Loan Parties incurring Indebtedness under the Second Lien Facility, as modified by the Support Agreement, during the Forbearance Period.
Second Lien Facility. The term loans under the Second Lien Credit Agreement shall have been, or substantially concurrently with the initial funding of the Loans hereunder, shall be, funded.
Second Lien Facility. The “Closing Date” (as defined in the Second Lien Agreement) shall have occurred, the Borrower shall have received $260,000,000 from the Second Lien Lenders disregarding any original issue discount or up front fees that are payable in respect of the Second Lien Facility.
Second Lien Facility. The Second Lien Loan Documents shall have been executed and delivered, and the Borrower shall have received (or shall receive substantially simultaneously with the initial extension of credit hereunder) gross proceeds of up to $140.0 million from borrowings thereunder.
Second Lien Facility. The Borrowers shall have entered into a second-lien term loan or notes facility (the “Second Lien Facility”) on terms and conditions reasonably satisfactory to the Administrative Agent and the Required Lenders, as evidenced by the Administrative Agent’s execution of the Intercreditor Agreement.
