Backstop Facility definition

Backstop Facility means any Indebtedness Incurred following the date hereof and on or prior to the FundingRelease Date under a Backstop Agreement.
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Backstop Facility means a backstop facility in an aggregate stated principal amount equal to the sum of $1,641,000,000 minus the stated principal amount of the Syndicated Exit Facility on terms and conditions set forth in the Backstop Term Sheet and otherwise reasonably acceptable to the Company and the Requisite Commitment Parties (in their sole discretion) (provided, that to the extent inconsistent with the Backstop Term Sheet or this Agreement, any economic treatment provided thereunder shall be acceptable to the Company and the Commitment Parties in their sole discretion (or Requisite Commitment Parties or majority Commitment Parties to the extent explicitly provided for in the Backstop Term Sheet).
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Backstop Facility means a revolving credit agreement that may be entered into following the date hereof between the Company and the institutional lender and its affiliates that are lenders under the Debt Financing pursuant to which the Company may borrow from time to time up to an additional currently expected amount of $25,000,000, at the option of the Company, the availability of which is conditioned upon the Closing.
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Examples of Backstop Facility in a sentence

  • While any such Borrowing is outstanding, it will be deemed usage of the Backstop Facility for the purposes of availability and the Commitment of each Lender (whether or not a Bidder) shall be reduced and deemed used for all purposes by its pro rata share (based on its respective Commitment) of an amount equal to the outstanding amount of such Borrowing.

  • Argentina: Capital Market Development Backstop Facility........................

  • AVAILABILITY: From the Closing Date and prior to the Commitment Termination Date, the Borrowers may, subject to the terms of the Backstop Facility, borrow, repay and reborrow.

  • Except as otherwise specifically stated in this term sheet, terms and conditions set forth in documentation for the Backstop Facility shall be substantially the same as such terms and conditions set forth in the Company's existing $750 million five-year credit facility.

  • The Backstop Facility could only be used as a single draw to assist the Company in repaying the $250 million, 7.4% notes due on Apr.

  • The Borrower acknowledges that the Administrative Agent, each Lender and the L/C Issuer is entering into this Agreement and is extending its Commitments in reliance upon the subordination provisions of the Put Backstop Facility of the Borrower, the Put Backstop Replacement Facility of the Borrower, the Subordinated Note Indenture or applicable Permitted Subordinated Debt Document.

  • Interest shall accrue on the outstanding balance of each Loan at the Backstop Facility Interest Rate.

  • NOVA Chemicals then repaid the $150 million Backstop Facility and IPIC’s holding company subscribed for $150 million of common stock of NOVA Chemicals.

  • The capital structure shall be determined in accordance with subsection O, below, on a per‑books basis.

  • The Backstop Facility (as defined in the Debt Backstop Commitment Agreement) will be structured as an offering of senior secured notes issued by Hexion Inc., guaranteed by its U.S. subsidiaries (and any other subsidiary that guarantees the Debtors’ other exit financing), and secured by liens and security interests (the “ Liens”) in substantially all of the assets of the obligors thereunder, subject to certain exceptions.


More Definitions of Backstop Facility

Backstop Facility. A senior unsecured revolving credit facility in an aggregate principal amount of $400.0 million (the “Backstop Facility”), which Backstop Facility shall be available in dollars, Euro, Sterling, Yen, Canadian dollars, Australian dollars and (subject to the consent of the Administrative Agent and the Backstop Facility Lenders) other lawful currencies that are readily available, freely transferable and convertible into dollars (all of the foregoing currencies, other than dollars, “Alternative Currencies”); provided that the aggregate outstanding amount of Backstop Facility Loans denominated in, and letters of credit issued in, Alternative Currencies shall not exceed $100,000,000 (the “Alternative Currency Sublimit”). Lenders with commitments (“Backstop Commitments”) under the Backstop Facility are collectively referred to as “Backstop Facility Lenders” and the loans thereunder, together with (unless the context otherwise requires) the swingline borrowings referred to below, are collectively referred to as “Backstop Loans”.
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Backstop Facility has the meaning set forth in Section 7.01(e).
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Backstop Facility means a credit agreement or other contractual arrangement which provides (i) for advances thereunder if one or more parties to a Soft Capital Facility shall fail to make an advance under such Soft Capital Facility and (ii) that recourse for the obligations incurred thereunder are limited to the collateral securing such Soft Capital Facility.
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Backstop Facility has the meaning ascribed to it in Section 2.1(a) of the Agreement.
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Backstop Facility means an agreement entered into by and between the Borrower and a party satisfactory to the Administrative Agent on the terms and conditions to be agreed among the Borrower and the Lenders in the Consent Fee Letter.
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Related to Backstop Facility

  • Backstop Commitment has the meaning set forth in Section 2.2(b).

  • Backstop Agreement has the meaning set forth in the recitals to this Agreement.

  • Backstop Commitment Agreement means that certain Backstop Commitment Agreement, by and between CEOC and the PropCo Preferred Backstop Investors party thereto from time to time, as the same may be amended, amended and restated, supplemented, or otherwise modified from time to time in accordance with its terms, the form of which shall be included in the Plan Supplement.

  • Bridge Facility means the Commitments and any Advances made thereunder.

  • 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.

  • Exit Facility means a credit facility that will be entered into by the City, the Exit Facility Agent and the other financial institutions party thereto on the Effective Date on substantially the terms set forth on Exhibit I.A.119.

  • DIP Facilities means the DIP ABL Facility and the DIP Term Loan Facility.

  • Exit Financing means the financing under the Exit Facility.

  • Exit Facility Documents means, collectively, the Exit Credit Agreement, and all other agreements, documents, and instruments delivered or entered into in connection with the Exit Facility, including any guarantee agreements, pledge and collateral agreements, intercreditor agreements, subordination agreements, fee letters, and other security documents.

  • Term Loan Facilities means the Term Loan A Facility and the Term Loan B Facility.

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

  • DIP Facility Documents means any notes, certificates, agreements, security agreements, documents, or instruments (including any amendments, restatements, supplements, or modifications of any of the foregoing) related to or executed in connection with the DIP Credit Agreement.

  • Exit Facilities means, collectively, the Exit ABL Facility and the Exit Term Loan Facility.

  • Financing Commitments has the meaning set forth in Section 5.7.

  • Alternative Financing is defined in Section 6.14(d).

  • Term Loan Facility means the Term Loan Commitments and the provisions herein related to the Term Loans.

  • Financing Commitment means documentation provided by a third party extending monies for the purpose of supporting the proposed Project in a manner that outlines the terms and conditions of borrowings, grants and other financing instruments. Terms and conditions should be reflective of terms under which all parties are willing to close and fund. There should be no Material Changes to stated terms without documented cause between the issuance of a commitment and closing. Material Changes must be submitted to ADOH for approval in accordance with Section 5.5 of this Plan.

  • Refinancing Facility has the meaning specified in Section 2.16(a).

  • New Credit Facility is defined in Section 9.8.

  • Loan Facility means the Revolving Loan Facility, the Transaction Specific Loan Facility or the Transaction Specific Revolving Loan Facility established by Lender in favor of Borrower under the Loan Documents.

  • Refinancing Commitments shall have the meaning provided in Section 2.14(h).

  • Replacement Revolving Facility has the meaning assigned to such term in Section 9.02(c)(ii).

  • Refinancing Facility Agreement means a Refinancing Facility Agreement, in form and substance reasonably satisfactory to the Agent, among Holdings, the Borrower, each Subsidiary of the Borrower party to this Agreement, the Agent and one or more Refinancing Lenders, establishing Refinancing Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.26.

  • Backstop Parties means, collectively, the Initial Backstop Parties and the Additional Backstop Parties.

  • 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.

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).