ABL Credit Facility Obligations definition

ABL Credit Facility Obligations means all ABL Obligations under the ABL Credit Facility.
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ABL Credit Facility Obligations means all ABL Obligations under the ABL Facility.
Sample 1

Examples of ABL Credit Facility Obligations in a sentence

  • Further challenging this process is that the ABL Credit Facility Obligations are secured by substantially all of the Company’s assets, such that either (i) the liens of the Prepetition Secured Parties would have to be primed to obtain postpetition financing from a third party, or (ii) the Debtors would have to find a postpetition lender willing to extend credit that would be junior to the liens of the Prepetition Secured Parties.

  • The Roll-Up provides that proceeds generated by the Debtors’ operations and restructuring, including from the Golf Town Transaction, the sale of all or substantially all of Golfsmith’s assets (a “ Golfsmith Sale”), and Store Closing Sales, will be applied toward theoutstanding ABL Credit Facility Obligations, which will effectively “roll” the ABL Credit Facility into the DIP Facility.

  • The Roll-Up merely accelerates the satisfaction of the ABL Credit Facility Obligations and converts such obligations into DIP Obligations that are less costly to the Debtors’ estates without affecting the recoveries to junior creditors of the Debtors’ estates.

  • By entering into the DIP Facility, the Debtors will be able to, among other things, permit the orderly continuation of their businesses, preserve the going concern value of the Debtors, make payroll and satisfy other working capital and general business needs (including fees, costs, and expenses related to these chapter 11 cases and the DIP Documents, capital expenditures), and repay the ABL Credit Facility Obligations.

  • Importantly, based on information received by the Debtors during the prepetition sale process, including the indications of interest received by the Debtors and their advisors, the Prepetition ABL Credit Facility Obligations are oversecured.

  • Second, the terms of the DIP Facility are competitive and substantially less costly than alternative postpetition financing options, and the interest charged on the DIP Facility represents a savings over the default interest rates the Debtors could be required to pay on account of the oversecured ABL Credit Facility Obligations.

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  • Specifically, the Roll-Up is designed as a “creeping roll-up” whereby the Debtors’ postpetition receipts are applied to the ABL Credit Facility Obligations, and corresponding amounts are advanced to the Company under the DIP Facility.

  • Under the DIP Credit Agreement, the proceeds of DIP Collateral that is sold in the ordinary course, sold in connection with the Golf Town Transaction, or liquidated pursuant to a Permitted Store Closing Sale or a Store Liquidation will be used to reduce the ABL Credit Facility Obligations.

  • Any assets or property or other distribution received by the Prepetition ABL Credit Facility Agent, the FILO Agent or any other Prepetition ABL Credit Facility Secured Party on account of any ABL Adequate Protection Claims or any Prepetition ABL Credit Facility Obligations shall be subject to the ABL-FILO Intercreditor Provisions.

Related to ABL Credit Facility Obligations

  • ABL Credit Facility means the senior secured asset-based revolving loan facility and the term loan facilities made pursuant to the ABL Credit Agreement.

  • Senior Credit Facility shall include any agreement (i) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (ii) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (iii) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (iv) otherwise altering the terms and conditions thereof.

  • ABL Credit Agreement as defined in the recitals hereto.

  • Discharge of Credit Agreement Obligations means, with respect to any Shared Collateral, the Discharge of the Credit Agreement Obligations with respect to such Shared Collateral; provided that the Discharge of Credit Agreement Obligations shall not be deemed to have occurred in connection with a Refinancing of such Credit Agreement Obligations with an Additional Senior Debt Facility secured by such Shared Collateral under one or more Additional Senior Debt Documents which has been designated in writing by the Administrative Agent (under the Credit Agreement so Refinanced) to the Designated Senior Representative as the “Credit Agreement” for purposes of this Agreement.

  • Revolving Credit Facility means, at any time, the aggregate amount of the Revolving Credit Lenders’ Revolving Credit Commitments at such time.

  • Credit Agreement Obligations means the “Obligations” as defined in the Credit Agreement.

  • Credit Facility shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof.

  • Revolving Credit Facilities means the collective reference to the Dollar Revolving Credit Facility and the Alternative Currency Revolving Credit Facility.

  • Existing Revolving Credit Facility means the $600,000,000 (subject to increase in accordance with its terms) revolving credit facility evidenced by that certain Amended and Restated Revolving Credit Agreement dated as of June 14, 2022 by and among the Borrower, the Parent, the lenders from time to time party thereto as “Lenders”, and JPMorgan Chase Bank, N.A., as Agent.