ALOC Facility definition
Examples of ALOC Facility in a sentence
Class 5 consists of all Unsecured Funded Debt Claims against (i) Hertz Corp.; (ii) the Subsidiary Guarantors; and (iii) solely with respect to ALOC Facility Claims, Rental Car Intermediate Holdings, LLC.
For the avoidance of doubt, the Equity Commitment Parties shall only be required to submit a Subscription Form to the extent they are Holders of Unsecured Notes Claims or ALOC Facility Claims and seek to exercise Subscription Rights in that capacity.
Only a Holder of an ALOC Facility Claim as of the Record Date or an Unsecured Note Claim as of the ATOP Date who timely and properly submits all documentation and required payments to the Subscription Agent in accordance with the procedures set forth herein may be deemed eligible to participate in the Rights Offering.
ALOC Facility Record Date 5:00 p.m. New York City Time on [June 10], 2021 The date fixed by these Rights Offering Procedures for the determination of the Subscription Rights of the Eligible Unsecured Funded Debt Holders of ALOC Facility Claims as of the Subscription Expiration Deadline (the “ALOC Facility Record Date”).
The Debtor initially expects that such additional Rights Offering Shares due to Holders of Allowed ALOC Facility Claims who have made such “maximum amount” election, if any, will be available for issuance and reallocated from the Rights Offering Shares that are unsubscribed in the Rights Offering, such that the aggregate size of the Rights Offering shall remain unchanged.
To the extent such draw is effectuated, and all Holders of Allowed ALOC Facility Claims have made the “maximum amount” election on their Subscription Forms and no unsubscribed Rights Offering Shares are available for issuance therefor, the Debtors anticipate that the Reorganized Hertz Parent/Corp.
As soon as practicable in accordance with the requirements set forth in this Article VI, the ALOC Facility Agent shall cause such distributions to or on behalf of such Holders to be made in accordance with ALOC Facility Documents.
The Debtor currently anticipates drawing an additional approximately $7.3-$7.7 million under the ALOC Facility through the Effective Date.
All distributions to Holders of ALOC Facility Claims shall be deemed completed when made to (or at the direction of) the ALOC Facility Agent, which shall be deemed to be the Holder of all ALOC Facility Claims for purposes of distributions to be made hereunder; provided, that non-Cash consideration shall not be distributed in the name of the ALOC Facility Agent.