Additional Bridge Facility definition
Examples of Additional Bridge Facility in a sentence
One-half of the amount of any Additional Bridge Facility funded by SKT after August 31, 2008 to satisfy net operating losses incurred by the Company, excluding costs resulting from a failure by the Company to complete the Restructuring prior to August 31, 2008, shall be paid to SKT in immediately available funds at the Closing from proceeds drawn by Virgin Opco under the Subordinated Credit Agreement.
The amount of any such Additional Bridge Facility shall be convertible into Company Membership Units that are “Preferred Membership Units”, and SKT agrees to convert any such Additional Bridge Facility into Company Membership Units that are “Preferred Membership Units” immediately prior to the Closing at a conversion price of $ 0.04872018 per unit.
On the Escrow Release Date, the borrowings of the Term Loans will be used, together with the net proceeds of the issuance of the Senior Secured Notes and the Senior Unsecured Notes, the net proceeds of the Additional Bridge Facility, any borrowings of the Revolving Loans on the Escrow Release Date and cash on hand (i) to finance the ▇▇▇▇▇▇▇▇ Acquisition and the Escrow Release Date Refinancing and (ii) to pay fees and expenses incurred in connection therewith.
On the Escrow Release Date, the borrowings of the Term Loans were used, together with the net proceeds of the issuance of the Senior Secured Notes and the Senior Unsecured Notes, the net proceeds of the Additional Bridge Facility, any borrowings of the Revolving Loans on the Escrow Release Date and cash on hand (i) to finance the ▇▇▇▇▇▇▇▇ Acquisition and the Escrow Release Date Refinancing and (ii) to pay fees and expenses incurred in connection therewith.