Examples of ABL Facility Amendment in a sentence
Holdings and the Borrower have delivered to the Administrative Agent and Lenders a complete and correct copy of the ABL Credit Agreement, the ABL Facility Amendment and all other material ABL Documents (in each case, including all schedules, exhibits, amendments, supplements and modifications thereto, but excluding letters under which no material obligations exist other than the payment of fees).
The foregoing description of the terms of the ABL Facility Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the ABL Facility Amendment, a copy of which is attached hereto as Exhibit 10.52(B).
Pursuant to the ABL Facility Amendment, the ABL Credit Facility was amended to, among other things, (i) extend the deadline for providing a reasonably detailed plan for achieving our stated liquidity goals and objectives in connection with our go-forward business plan and strategy from September 15, 2019 to September 30, 2019, and (ii) eliminate one of the exceptions to the limitation on Dispositions (as defined the ABL Credit Facility).
ABL Facility Amendment and LiquidityIn February 2016, we amended our senior secured asset based revolving credit facility, or the ABL Facility, to exercise the $100.0 million accordion feature of the ABL Facility which increased the aggregate revolving commitments from $200.0 million to $300.0 million and increased the sublimit for same day swing line borrowings from $20.0 million to $30.0 million.
The ABL Facility Amendment has been duly authorized, executed and delivered, and constitutes a valid and binding agreement of, the Company and its subsidiaries party thereto, enforceable in accordance with its terms, except as the enforcement thereof may be limited by the Enforceability Exceptions.
Parent agrees to keep the Company informed on a reasonably current basis as to progress and discussions with lenders and the Administrative Agent in respect of the Parent ABL Facility Amendment.
ABL Facility Amendment Upon the consummation of the Restructuring and the transactions contemplated thereby (excluding the Rights Offering (as defined below)) (the “Closing Date”), the ABL Facility shall be amended (the “Facility Amendment”) such that the $125 million commitment shall be reduced to $100 million.
PRE- AND POST-CLOSING COVENANTS 11 Section 7.1 Waiver of Transfer Restrictions 11 Section 7.2 Waiver of Notice for Terminal Swap Arrangements 12 Section 7.3 Appropriate Action; Consents; Filings; Other Matters 12 Section 7.4 ABL Facility Amendment 13 Section 7.5 Amended NuStar Facility 14 Section 7.6 Crude Intermediation Financing 14 Section 7.7 Services Agreement 14 Section 7.8 Names Following Closing.
Prior to or substantially concurrently with the funding of the Initial Term Loans, the Borrower shall have executed and delivered the ABL Facility Amendment in form and substance substantially consistent with the ABL Consent Letter and the ABL Facility Amendment shall have become effective in accordance with its terms.
The Administrative Agent shall have received a true, complete and correct copy of (x) the Intercreditor Amendment and (y) the ABL Facility Amendment, which, in each case, shall be (or concurrently with the First Amendment Effective Date shall be) in full force and effect.