Backstop DIP Lenders definition

Backstop DIP Lenders means American Securities Opportunities Advisors, LLC and Gates Capital Management, Inc.
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Backstop DIP Lenders means, collectively, ASOF II Investments, LLC, American Securities Opportunities Fund, LP, American Securities Opportunities Fund (B), L.P., ECF Value Fund, L.P., ECF Value Fund II, L.P., ECF Value Fund International, LTD. and, to the extent holding a Backstop Commitment specified on Schedule 2.02(b), each of their respective Affiliates.
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Backstop DIP Lenders. American Securities Opportunities Advisors, LLC (“Am Sec”) and Gates Capital Management, Inc. (“GCM” and together with Am Sec, the “Backstop DIP Lenders”) shall backstop the entire DIP Facility (including (i) as to elections of other DIP Lenders to become DIP Lenders and (ii) as to any defaulting DIP Lender that fails to fund its portion of the DIP Facility) based on their pro rata holding of Senior
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Examples of Backstop DIP Lenders in a sentence

  • In addition to the initial procedural and operational relief described above, to continue operating during and fund the Chapter 11 Cases, on the Petition Date, the Debtors plan to seek the Bankruptcy Court’s approval to obtain debtor in possession financing provided by certain of the Debtors’ Noteholders and fully backstopped by the Backstop DIP Lenders.

  • If the Administrative Agent resigns or is removed by the Backstop DIP Lenders under this Agreement, the Backstop DIP Lenders shall appoint a successor agent for the Lenders, which appointment of a successor agent, if such successor agent is an Ineligible Person, shall require the consent of the Borrower.

  • As noted above, the Backstop DIP Lenders have committed, subject to certain terms and conditions, including approval of the DIP Facility by the Bankruptcy Court, to backstop(11) The liens securing the DIP Facility shall also be subject to the Carve-Out.

  • Funding Conditions, Representations, Warranties, Covenants, Prepayments: DIP Documentation to contain conditions to funding, reporting requirements and provision of financial statements, representations, warranties, covenants, and prepayments customary for financings of this type and other terms as agreed to by the Loan Parties and the Backstop DIP Lenders.

  • Payment of the costs and expenses of the Indenture Trustee for the Senior Notes, and the Backstop DIP Lenders, including, without limitation, the professional fees and expenses of Fried, Frank, Harris, Xxxxxxx and Xxxxxxxx LLP.

  • In addition, unless otherwise agreed to by the Backstop DIP Lenders, Holders of DIP Claims will receive the DIP Equity Distribution.

  • The Administrative Agent, the Backstop DIP Lenders and the other Lenders shall give the Borrower the opportunity to participate in any discussions with the Borrower’s independent public accountants to the extent reasonably feasible.

  • In addition, the Borrower agrees to continue to provide the Communications to the Administrative Agent and the Backstop DIP Lenders in the manner specified in the Loan Documents but only to the extent requested by the Administrative Agent or the Backstop DIP Lenders, as applicable.

  • As part of the transactions contemplated by the Plan, the Backstop DIP Lenders have committed, subject to certain terms and conditions, to lend amounts under the DIP Facility to the extent other eligible Holders of Notes do not elect to participate in the DIP Facility.

  • The Borrower will use the proceeds of the Loans solely to fund the working capital needs and general corporate purposes of the Borrower and its Subsidiaries (including, without limitation, costs related to the Cases) and for such other purposes as agreed by the Borrower and the Backstop DIP Lenders, in each case Consistent with the Approved Budget and in accordance with the Orders.

Related to Backstop DIP Lenders

  • DIP Lenders has the meaning assigned to such term in Section 2.05(b).

  • Exit Facility Lenders means each of the lenders under the Exit Facility Credit Agreement, solely in their respective capacities as such.

  • First Lien Lenders means the “Lenders” under and as defined in the First Lien Credit Agreement.

  • Supermajority Revolving Lenders means Lenders having (a) 80% or more of the Revolving Loan Commitments of all Lenders, or (b) if the Revolving Loan Commitments have been terminated, 80% or more of the aggregate outstanding amount of the Revolving Loan (with the Swing Line Loan being attributed to the Lender making such Loan) and Letter of Credit Obligations.

  • Second Lien Lenders means the “Lenders” under and as defined in the Second Lien Credit Agreement.

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

  • Bank Lenders means the lenders from time to time party to the Bank Credit Agreement.

  • Refinancing Lenders has the meaning specified in Section 2.15(c).

  • Prepetition Lenders means those lenders party to the Prepetition Credit Agreement from time to time.

  • Majority Revolving Credit Lenders means Revolving Credit --------------------------------- Lenders having at least 51% of the aggregate amount of the Revolving Credit Commitments or, if the Revolving Credit Commitments shall have terminated, Lenders holding at least 51% of the sum of (a) the aggregate unpaid principal amount of the Revolving Credit Loans plus (b) the aggregate amount of all Letter of Credit Liabilities.

  • Majority Revolving Lenders at any time, (a) if only one Revolving Lender holds the Total Revolving Commitments at such time, such Revolving Lender, both before and after the termination of such Revolving Commitment; and (b) if more than one Revolving Lender holds the Total Revolving Commitment, at least two Revolving Lenders who hold more than 50% of the Total Revolving Commitments (including, without duplication, the L/C Commitments) or, at any time after the termination of the Revolving Commitments when such Revolving Commitments were held by more than one Revolving Lender, at least two Revolving Lenders who hold more than 50% of the Total Revolving Extensions of Credit then outstanding (including, without duplication, any L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans at such time)); provided that the Revolving Commitments of, and the portion of the Revolving Loans and participations in L/C Exposure and Swingline Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Majority Revolving Lenders; provided further that a Lender and its Affiliates shall be deemed one Lender.

  • New Lenders has the meaning set forth in Section 2.16(c).

  • DIP Lender means a lender under the DIP Facility.

  • Term Loan Lenders means the financial institutions from time to time parties hereto as lenders of the Term Loan.

  • Consenting Lenders has the meaning specified in Section 2.13(b).

  • Tranche B Lenders means the Lenders who hold Tranche B Loans or who have Tranche B Commitments.

  • Revolving Credit Lenders means the financial institutions from time to time parties hereto as lenders of the Revolving Credit.

  • Existing Lenders has the meaning specified in the recitals hereto.

  • Revolving Lenders means, as of any date of determination, Lenders having a Revolving Loan Commitment.

  • Incremental Lenders has the meaning set forth in Section 2.14(c).

  • Requisite Class Lenders means, at any time of determination (i) for the Class of Lenders having Revolving Loan Exposure, Lenders having or holding more than 50% of the aggregate Revolving Loan Exposure of all Lenders, and (ii) for the Class of Lenders having Term Loan Exposure, Lenders having or holding more than 50% of the aggregate Term Loan Exposure of all Lenders.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Required Revolving Credit Lenders means, at any date, Non-Defaulting Lenders holding a majority of the Adjusted Total Revolving Credit Commitment at such date (or, if the Total Revolving Credit Commitment has been terminated at such time, a majority of the Revolving Credit Exposure (excluding Revolving Credit Exposure of Defaulting Lenders) at such time).

  • Required Term Loan Lenders means, at any date, Non-Defaulting Lenders having or holding a majority of the sum of (i) the Adjusted Total Term Loan Commitment at such date and (ii) the aggregate outstanding principal amount of the Term Loans (excluding Term Loans held by Defaulting Lenders) at such date.

  • ABL Lenders means the “Lenders” under and as defined in the ABL Credit Agreement.

  • DIP Facility means the debtor-in-possession secured financing facility provided to the Debtors by the DIP Lenders pursuant to the DIP Credit Agreement as authorized by the Bankruptcy Court pursuant to the DIP Facility Order.