Consenting 2L Lenders definition

Consenting 2L Lenders means, collectively, the Holders of more than 66 2/3 percent of Claims under the Second Lien Credit Agreement.
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Consenting 2L Lenders means certain holders of 2L Claims that have executed the RSA, which holders of 2L Claims hold, in the aggregate, at least two-thirds in dollar amount of the 2L Claims and represent at least one-half of the holders of the 2L Claims. Lenders, the “Consenting Lenders”), (iv) the DIP Revolving Lenders, (v) the DIP Term Loan Lenders8 and (vi) the Specified Equity Holders9, sets forth the principal terms of a financial restructuring (the “Restructuring”) of the existing indebtedness of, existing equity interests in, and certain other obligations of, the Debtors, in each case, through cases (the “Chapter 11 Cases”) that will be filed under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) by each of the Debtors in the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”). The Restructuring contemplated hereby shall be consistent with the terms of this Term Sheet and the RSA and implemented pursuant to a pre-arranged plan of reorganization (as it may be amended or supplemented from time to time, including all exhibits, schedules, supplements, appendices, annexes and attachments thereto in accordance with the terms of the RSA, the “Plan”), under chapter 11 of the Bankruptcy Code. This Term Sheet does not include a description of all of the terms, conditions, and other provisions that are to be contained in the definitive documentation evidencing the transactions comprising the Restructuring, which remain subject to discussion and negotiation in good faith in accordance with the RSA. Consummation of the transactions contemplated by this Term Sheet are subject to (1) the negotiation and execution of definitive documents evidencing the transactions comprising the Restructuring and (2) satisfaction of all of the conditions in any definitive documentation evidencing the transactions comprising the Restructuring, including the Plan. The Definitive Documents evidencing the Restructuring Transactions will contain terms and conditions that are dependent on each other, including those described in this Term Sheet. For the avoidance of doubt, Section 3 of the RSA shall apply to all Definitive Documents evidencing the Restructuring Transactions. 10 arising under, derived from, or based on the 2020 Term Loans (as defined therein) under the 1L Credit Agreement (as defined below) pursuant to Amendment No. 3 to Credit Agreement, dated as of May 11, 2020, by and among Centric, as borrower and the lenders thereunder (su...
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Examples of Consenting 2L Lenders in a sentence

  • The Mediated Settlement also includes releases of the Consenting 1.75L Lenders, Consenting 2L Lenders, and the D&O Carriers in consideration for their significant contributions of value.

  • The Consenting 2L Lenders agreed to equitize their 2L Term Loan Claims and be treated pari passu with other unsecured creditors despite their perfected security interests.

  • Further, the Consenting 2L Lenders agreed to support the Debtors’ reorganization by agreeing to the equitization of their Second Lien Term Loan Facility Claims.

  • Following two full days of mediation with Chief Judge Jones, the Debtors, the Consenting 1.5L Holders, the Consenting 1.75L Lenders, the Consenting 2L Lenders, and the Committee reached an agreement in principle regarding the terms of a settlement of substantially all of the Settled Claims and Causes of Action other than those claims and causes of action covered by the Debtors’ D&O Liability Insurance Policies.

  • The Plan embodies the Mediated Settlement between the Debtors, the Consenting 1.5L Holders, the Consenting 1.75L Lenders, the Consenting 2L Lenders, the Committee, and the D&O Carriers.

  • Following this initial round of mediation, the Debtors, Consenting 1.5L Holders, the Consenting 1.75L Lenders, the Consenting 2L Lenders, the Committee, and the D&O Carriers engaged in two further days of mediation, which resulted in a resolution with respect to the Settled Claims and Causes of Action covered by the Debtors’ D&O Insurance Policies.

  • Governance The corporate governance documents relating to Reorganized Centric shall be on the terms set forth on Exhibit C hereto (the “Governance Term Sheet”) and such other terms as determined by and acceptable to the Required Consenting 1L Lenders and the Required Consenting 2L Lenders.

  • The Plan shall be deemed a motion to approve the good-faith compromise and settlement of all such Claims, Interests, Causes of Action, and controversies pursuant to Bankruptcy Rule 9019,The Planembodies the Mediated Settlement between the Debtors, the Consenting 1.5L Holders, the Consenting 1.75L Lenders, the Consenting 2L Lenders, the Committee, and the D&O Carriers.

  • Following this initial round of mediation, the Debtors, Consenting 1.5L Holders, the Consenting 1.75L Lenders, the Consenting 2L Lenders, the Committee, and the D&O Carriers engaged in two further days of mediation, which resulted in a resolution with respect to the Settled Claims and Causes o f Action covered by the Debtors’ D&O Insurance Policies.

Related to Consenting 2L Lenders

  • Consenting Lenders has the meaning set forth in Section 2.21(b).

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

  • Non-Consenting Lenders has the meaning specified in Section 3.07(d).

  • Consenting Lender has the meaning specified in Section 2.19(b).

  • Non-Consenting Lender means any Lender that does not approve any consent, waiver or amendment that (a) requires the approval of all Lenders or all affected Lenders in accordance with the terms of Section 11.01 and (b) has been approved by the Required Lenders.

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

  • Extending Lenders has the meaning specified in Section 2.08.

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

  • Bank Lenders means the banks and financial institutions party to the Bank Credit Agreement.

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

  • Increasing Lenders shall have the meaning given to that term in Section 2.01(b)(i).

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

  • Initial Lenders has the meaning specified in the recital of parties to this Agreement.

  • Continuing Lenders as defined in the recitals hereto.

  • Extending Lender shall have the meaning assigned to such term in Section 2.21(e).

  • Refinancing Lender has the meaning set forth in Section 2.15(c).

  • Purchasing Lenders shall have the meaning set forth in Section 9.6(c).

  • Revolving Commitment Increase Lender has the meaning specified in Section 2.14(a).

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

  • Lenders means the Persons listed on Schedule 2.01 and any other Person that shall have become a party hereto pursuant to an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption.

  • 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.

  • Existing Lender were references to all the Lenders immediately prior to the relevant increase;

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

  • Departing Lender means each lender under the Existing Credit Agreement that executes and delivers to the Administrative Agent a Departing Lender Signature Page.

  • DIP Lender means a lender under the DIP Facility.

  • Non-Consenting Bank means any Bank that does not approve any consent, waiver or amendment that (a) requires the approval of each Bank or each affected Banks in accordance with the terms of Section 10.05 and (b) has been approved by the Required Banks.