Credit Bid Amount definition

Credit Bid Amount has the meaning set forth in Section 3.1(a).

Credit Bid Amount has the meaning set forth in Section 2.6(a).

Credit Bid Amount means $150,000,000 of First Lien Claims.

Examples of Credit Bid Amount in a sentence

• Notwithstanding anything to the contrary herein, under no circumstances shall any portion of the Credit Bid Amount be converted into or otherwise require a cash payment.

• The Bankruptcy Court shall have approved and authorized the Purchaser’s ability, pursuant to Section 363(k) of the Bankruptcy Code, to credit bid the Credit Bid Amount in satisfaction of the Credit Bid Amount portion of the Purchase Price set forth in Section 1.6, and the order granting such approval shall not have been appealed, stayed, stayed pending appeal, modified, amended, reversed or vacated as of the Closing Date.

• The Sellers hereby stipulate and agree that, effective upon Closing, the Purchaser shall have allowed general unsecured claims against each Seller equal to the difference between the amount of the Prepetition Notes Obligations (as defined in the DIP Order) and the Credit Bid Amount (the “ Deficiency Claims”).

• The Pledgee or any of its Affiliates may be the purchaser of the Collateral at any such sale and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for the Collateral, to use and apply any of the Obligations as a credit on account of the purchase price of the Collateral payable by such Person at such sale; provided however that in any private or public sale, the Pledgee agrees to make a bid in the amount of the Credit Bid Amount.

• Synovus applied the Credit Bid Amount to the unpaid principal balance of the Loan on February 3, 2014, reducing the unpaid principal balance of the Loan to $1,337,846.86.

More Definitions of Credit Bid Amount

Credit Bid Amount means the aggregate amount of (i) the outstanding principal balance of the Notes, (ii) all accrued and unpaid interest and late fees due under the Notes, (iii) all costs incurred by Pledgee in connection with the collection and enforcement of the Notes and the Mortgage and Ancillary Security Documents, together with any sums advanced by the Pledgee to protect the security of the Mortgage and/or any one or more of the Ancillary Security Documents, (iv) all amounts advanced by the Pledgor to protect the security of the Mortgage and/or any one or more of the Ancillary Security Documents, and (v) all costs incurred by Pledgor in connection with the exercise of the secured party's rights under the Ancillary Security Documents.

Credit Bid Amount means, the lesser of (i) $20,000,000.00 and (ii) the product of (y)

Credit Bid Amount means an amount equal to the aggregate DIP Indebtedness as of the Closing that is bid by Buyer pursuant to section 363(k) of the Bankruptcy Code, as allowed by Order(s) of the Bankruptcy Court.

Credit Bid Amount means a Credit Bid in an amount equal to or less than the Lenders Debt.

Credit Bid Amount shall have the meaning set forth in Section 3.2(a). “Credit Documents” shall mean, collectively, the Prepetition Loan Documents and the DIP Documents. “Cure Amounts” shall mean all amounts payable that must be paid or otherwise satisfied to cure all of the Sellers’ monetary defaults under the Assumed Contracts at the time of the assumption thereof and assignment to Buyer pursuant to section 365 of the Bankruptcy Code. “Debt” shall mean, without duplication, (i) indebtedness or other obligations for borrowed money or in respect of loans or advances or issued in substitution for or exchange of indebtedness for borrowed money or loans or advances, whether short-term or long-term, secured or unsecured, (ii) any indebtedness or other obligations evidenced by any note, bond, debenture or other debt security or instrument, (iii) all obligations to pay the deferred purchase price of property or services, contingent or otherwise (including all “earn-out” obligations), (iv) all obligations under interest rate and currency hedging agreements, including swap breakage or associated fees, (v) all obligations arising from bankers’ acceptances, letters of credit (to the extent drawn) and cash/book overdrafts or similar facilities, (vi) all obligations for the payment of which a Person is responsible or liable, directly or indirectly, as obligor, guarantor or otherwise, including guarantees of such obligations, (vii) any obligations under leases that have been or are required to be, in accordance with GAAP, recorded as capital leases, (viii) any indebtedness or other obligations secured by a Lien on any Seller’s interest in any assets, and (ix) all accrued interest, premiums, penalties (including any prepayment penalties or premiums) and other obligations related to any of the foregoing. “Debtors” shall mean the Sellers as debtors in possession that filed the Cases. “Designation Notice” shall have the meaning set forth in Section 2.5(a). “Determination Deadline” shall have the meaning set forth in Section 2.5(a). “DIP Agent” shall mean Blue Torch Finance LLC, as administrative agent and collateral agent under the DIP Facility. “DIP Documents” shall mean that certain Superpriority Secured Debtor-in-Possession Financing Agreement by and among the DIP Lenders, the Sellers, and the DIP Agent and the other Loan Documents (as defined therein).

Credit Bid Amount means a credit bid by the Agent (as defined in the Prepetition Credit Agreement) or a subagent of such Agent under the Prepetition Credit Agreement on behalf of the related Lender Parties (as defined in the Prepetition Credit Agreement) in the full amount of the outstanding obligations under such Prepetition Credit Agreement, as authorized by the Prepetition Loan Documents.

Credit Bid Amount means a Credit Bid of the Prepetition First Lien Obligations equal to $27,000,000.00.