ABL Commitment definition

ABL Commitment means “Commitment” as defined in the ABL Credit Agreement.
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ABL Commitment means the commitment under the ABL Credit Agreement.
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ABL Commitment means, as to each ABL Lender, its obligation to (a) make ABL Loans to the Borrowers pursuant to Section 2.01(a) through (d), (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth under the column heading “ABL Commitment” opposite such ABL Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such ABL Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. As of the Amendment No. 1 Effective Date, the aggregate amount of the ABL Commitments is $285,000,000. “ABL Lender” means each Lender having an ABL Commitment from time to time. “ABL Loan” has the meaning specified in Section 2.01(a). “ABL Loan Cap” means, at any time of determination, the lesser of (a) the Aggregate ABL Commitments or (b) the ABL Borrowing Base. “ABL Note” means a promissory note made by the Borrowers in favor of an ABL Lender evidencing ABL Loans made by such ABL Lender, substantially in the form of Exhibit C-1, as each may be amended, supplemented or modified from time to time. “Acceptable Document of Title” means, with respect to any Inventory, except as Agent may otherwise agree (or to the extent otherwise provided in the definition of the term Eligible In-Transit Inventory), a tangible, negotiable xxxx of lading or other Document (as defined in the UCC) that (a) is issued by a common carrier which is not an Affiliate of the Approved Foreign Vendor or any Loan Party which is in actual possession of such Inventory, (b) is issued to the order of a Loan Party or, if so requested by the Agent, to the order of the Agent, (c) names the Agent as a notify party and bears a conspicuous notation on its face of the Agent’s security interest therein, (d) is not subject to any Lien (other than in favor of the Agent), and (e) is on terms otherwise reasonably acceptable to the Agent. “ACH” means automated clearing house transfers. “Acceptable Appraisal” means, with respect to an appraisal of Real Estate, the most recent appraisal of such property received by Agent (a) from an appraisal company satisfactory to Agent, (b) the scope and methodology (including, to the extent relevant, any sampling procedure employed by such appraisal company) of which are satisfactory to Agent and the Lenders and (c) complying with the requirements of FIRREA. “Accommodation P...
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Examples of ABL Commitment in a sentence

  • On the Effective Date, the Reorganized Debtors shall enter into the Exit Facilities (the terms of which shall be set forth in the Exit Facility Documents) on terms consistent with the Exit Facilities Term Sheet and ABL Commitment Letter, if applicable.

  • The addition of such new lenders increased the DIP ABL Commitment from $1.54 billion to$1.62 billion.

  • After careful analysis and extensive negotiations, the Debtors, the ABL Commitment Parties, the Term Loan Engagement Parties, and the Notes Engagement Parties agreed upon the terms of the Commitment and Engagement Letters and the Fee Letters, which are fair and reasonable, and represent the best terms available to the Debtors.

  • As discussed above, each such obligation was necessary to secure the ABL Commitment Parties’ and the Term Loan Engagement Parties’ arrangement and syndication services, and the Notes Engagement Parties’ placement and underwriting services, which the Debtors and their advisors determined were the best terms under which the Debtors could obtain the exit financing that is essential to the Debtors’ ability to consummate the Plan on the timeframe contemplated by the Restructuring Support Agreement.

  • Therefore, it is important that the Commitment and Engagement Letters and the Fee Letters become effective and enforceable against the Debtors immediately to give the ABL Commitment Parties, the Term Loan Engagement Parties, and the Notes Engagement Parties the certainty they need to move forward with their processes and facilitate confirmation and consummation of the Plan and the Debtors’ successful emergence from chapter 11.

  • Second, the Debtors undertook a thorough marketing process followed by careful analysis of each proposal and extensive negotiations with the ABL Commitment Parties, the Term Loan Engagement Parties, and the Notes Engagement Parties to reach the terms of the Commitment and Engagement Letters and the Fee Letters, which are fair and reasonable under the circumstances.

  • In addition to the ABL Commitment Letter and the Term Loan Engagement Letter, the Debtors seek authority to enter into and perform under the Notes Engagement Letter, pursuant to which the Notes Engagement Parties will undertake a Rule 144A or other private placement of senior unsecured notes in aggregate principal amount of $450 million.

  • The Debtors’ indemnification obligations are subject to customary carve-outs for losses arising from (a) willful misconduct, bad faith or gross negligence of an indemnified person, (b) a material breach of the ABL Commitment Letter by an indemnified person, (c) disputes solely among indemnified persons not involving any act or omission of the Debtors, or (d) any settlement entered into by an indemnified person without the Debtors’ consent, among other exclusions.

  • The ABL Commitment Parties’ and the Term Loan Engagement Parties’ syndication efforts, and the Notes Engagement Parties’ placement efforts, are integral to the Debtors’ ability to promptly obtain those commitments.

  • Each ABL Lender shall notify the Agent within such time period whether or not it agrees to increase its ABL Commitment and, if so, whether by an amount equal to, greater than, or less than its Applicable ABL Percentage of such requested increase.


More Definitions of ABL Commitment

ABL Commitment means “Commitment” as defined in the ABL Credit Agreement. “ABL Credit Agreement” means that certain Credit Agreement, dated as of the Closing Date, by and among Companies, the ABL Agent and the ABL Lenders, as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms of the Intercreditor Agreement. “ABL Credit Documents” means, collectively, the ABL Credit Agreement, the ABL Security Instruments, the Intercreditor Agreement, the other “Loan Documents” (as defined in the ABL Credit Agreement) and all other agreements, instruments and other documents executed and delivered at any time in connection with the ABL Credit Agreement (in each case, as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms of the Intercreditor Agreement). “ABL Indebtedness” means, collectively, the “Obligations” as defined in the ABL Credit Agreement not to exceed the amount of any such Indebtedness permitted pursuant to Section 6.1(k). “ABL Lenders” means the lenders from time to time party to the ABL Credit Agreement. “ABL Letters of Credit” means the letters of credit issued in accordance with the ABL Credit Agreement. “ABL Loans” means the revolving loans made in accordance with the ABL Credit Agreement.
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ABL Commitment means the Maximum Amount set forth in the ABL Agreement, as modified from time to time.
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Related to ABL Commitment

  • L/C Commitment means the commitment of the Issuing Bank to issue Letters of Credit pursuant to Section 2.23.

  • Revolving Commitment Increase Lender has the meaning specified in Section 2.14(a).

  • Extended Revolving Credit Commitment has the meaning specified in Section 2.15(a).

  • Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • U.S. Revolving Credit Commitment means, (a) with respect to each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(c) as such Lender’s “US Revolving Credit Commitment” and (b) in the case of any Lender that becomes a Lender after the Closing Date, the amount specified as such Lender’s “US Revolving Credit Commitment” in the Assignment and Acceptance pursuant to which such Lender assumed a portion of the US Total Revolving Credit Commitment, in each case of the same may be changed from time to time pursuant to terms hereof. The aggregate amount of the US Revolving Credit Commitment as of the Closing Date is $100,000,000.

  • Extended Revolving Commitment shall have the meaning assigned to such term in Section 2.19(a).

  • Total Revolving Credit Commitment means the sum of the Revolving Credit Commitments of all the Lenders.

  • Tranche B Term Loan Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan to the Borrower hereunder in a principal amount equal to the amount set forth on Schedule 1.01(b) (or in the case of any Continuing Tranche B Term Loan Lender, the amount of its Existing Tranche B Term Loan continued as a Tranche B Term Loans (as specified in its Term Loan Lender Addendum) pursuant to Section 2.01(b)(i).

  • Revolving Credit Commitment means, as to each Revolving Credit Lender, its obligation to (a) make Revolving Credit Loans to the Borrower pursuant to Section 2.01(b), (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Revolving Credit Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Extended Revolving Credit Commitments has the meaning set forth in Section 2.16(b).

  • Revolving Credit Commitment Increase has the meaning specified in Section 2.14(a).

  • Initial Revolving Credit Commitment means, with respect to any Person, the commitment of such Person to make Initial Revolving Loans (and acquire participations in Letters of Credit and Swingline Loans) hereunder as set forth on the Commitment Schedule, or in the Assignment Agreement pursuant to which such Person assumed its Initial Revolving Credit Commitment, as applicable, as the same may be (a) reduced from time to time pursuant to Section 2.09 or 2.19, (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.05 or (c) increased pursuant to Section 2.22. The aggregate amount of the Initial Revolving Credit Commitments as of the Closing Date is $75,000,000.

  • Term Loan Commitment is, for any Lender, the obligation of such Lender to make a Term Loan, up to the principal amount shown on Schedule 1.1. “Term Loan Commitments” means the aggregate amount of such commitments of all Lenders.

  • Term Loan A Commitment means, with respect to each Lender, its Term Loan A Commitment, and, with respect to all Lenders, their Term Loan A Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Incremental Revolving Credit Commitment means the commitment of any Lender, established pursuant to the Credit Agreement, to make available certain revolving credit loans to one or more Borrowers.

  • U.S. Revolving Commitment means the commitment of a Lender to make or otherwise fund any U.S. Revolving Loan and to acquire participations in U.S. Letters of Credit and Swing Line Loans hereunder and “U.S. Revolving Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s U.S. Revolving Commitment, if any, is set forth on Schedule 1.01(c) or in the applicable Assignment Agreement or Joinder Agreement, as applicable, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the U.S. Revolving Commitments as of the Closing Date is $265,000,000.

  • Existing Revolving Credit Commitments shall have the meaning provided in Section 2.15(a)(ii).

  • Majority Revolving Credit Facility Lenders the Majority Facility Lenders in respect of the Revolving Credit Facility.

  • Tranche C Term Loan Commitment means the commitment of a Lender to make a Tranche C Term Loan to Company pursuant to subsection 2.1A(iii), and "Tranche C Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Revolving Commitment Increase has the meaning set forth in Section 2.14(a).

  • LOC Commitment means the commitment of the Issuing Lender to issue Letters of Credit and with respect to each Revolving Lender, the commitment of such Revolving Lender to purchase Participation Interests in the Letters of Credit up to such Lender’s Revolving Commitment Percentage of the LOC Committed Amount.

  • Tranche B Term Loan Commitments means such commitments of all Lenders in the aggregate. The amount of each Lender’s Tranche B Term Loan Commitment, if any, is set forth on Appendix A-2 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Tranche B Term Loan Commitments as of the Third Restatement Date is $600,000,000.

  • Revolving Credit Commitment Amount means with respect to any Revolving Credit Lender, (i) if the Revolving Credit Aggregate Commitment has not been terminated, the amount specified opposite such Revolving Credit Lender’s name in the column entitled “Revolving Credit Commitment Amount” on Schedule 1.2, as adjusted from time to time in accordance with the terms hereof; and (ii) if the Revolving Credit Aggregate Commitment has been terminated (whether by maturity, acceleration or otherwise), the amount equal to its Percentage of the aggregate principal amount outstanding under the Revolving Credit (including the outstanding Letter of Credit Obligations and any outstanding Swing Line Advances).

  • Term Loan B Commitment means, with respect to each Lender, its Term Loan B Commitment, and, with respect to all Lenders, their Term Loan B Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Facility A Commitment means, with respect to each Facility A Lender, the commitment, if any, of such Lender to make Facility A Revolving Loans and to acquire participations in Facility A Letters of Credit, Facility A Protective Advances and Facility A Swingline Loans, expressed as an amount representing the maximum possible aggregate amount of such Lender’s Facility A Revolving Exposure hereunder, as such commitment may be reduced or increased from time to time pursuant to (a) Section 2.09 and (b) assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Facility A Commitment is set forth on the Commitment Schedule, or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Facility A Commitment, as applicable. The initial aggregate amount of the Lenders’ Facility A Commitments is $150,000,000.

  • Refinancing Revolving Credit Commitments shall have the meaning provided in Section 2.14(h).