DIP ABL Loan definition

DIP ABL Loan means that certain Senior Secured Debtor-in-Possession and Exit Amended and Restated Asset Based Revolving Credit Agreement, among Momentive Performance Materials USA Inc., as a borrower, Momentive Performance Materials GmbH, as a borrower, Momentive Performance Materials Quartz GmbH, as a borrower, Momentive Performance Materials Nova Scotia ULC, as a borrower, the Company, MPM, each subsidiary of MPM that is party thereto in its capacity as a guarantor, the lenders party thereto from time to time, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and X.X. Xxxxxx Securities LLC, Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC in their respective capacities as arrangers thereunder (substantially in the form annexed to the DIP Motion as Exhibit B and as amended, supplemented, restated or otherwise modified from time to time in accordance with the terms thereof).
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Examples of DIP ABL Loan in a sentence

  • Pursuant to the DIP ABL Credit Agreement, all distributions pursuant to this Article II.C.1 shall be made to the DIP ABL Agent for distributions to the DIP ABL Lenders in accordance with the DIP ABL Credit Agreement and DIP ABL Loan Documents.

  • The CA Debtors are authorized to repay all Prepetition ABL Obligations in accordance with the DIP ABL Credit Agreement, the other DIP ABL Loan Documents and this Interim Order.

  • The CA Debtors are authorized to make all payments and transfers of estate property to the DIP ABL Lender as provided for, permitted and/or required under the DP ABL Credit Agreement and the other DIP ABL Loan Documents.

  • For the avoidance of doubt, any letter of credit issued and outstanding under the DIP ABL Loan Documents on the Effective Date shall be treated in a manner sufficient to cause the Payment in Full of the DIP ABL Facility Claims.

  • In accordance with the Cash Management Order and the DIP ABL Loan Documents, all prepetition practices and procedures for the payment and collection of proceeds of the DIP ABL Priority Collateral (including the turnover of relevant cash to the DIP ABL Lender), including any lockbox or blocked depository bank account arrangements, are hereby approved and shall continue without interruption after the commencement of the Cases.

  • The Prepetition ABL Adequate Protection Liens shall be senior to all other security interests in, liens on, or claims against any of the DIP ABL Loan Parties’ assets.

  • The transactions contemplated by the DIP ABL Loan Documents will be, contemporaneously with the Closing Date, consummated in accordance with their respective terms and all of the representations and warranties of Parent or its Subsidiaries in the DIP ABL Loan Documents are true and correct in all material respects as of the Closing Date or, to the extent that any such representation or warranty relates solely to an earlier date, as of such earlier date.

  • Borrowers have delivered or made available to the Lenders true and correct copies of the DIP ABL Loan Documents.

  • The representation of the concentrations of the samples according to the unit highlights the contributions of the different units in the distribution with respect to the mean and median.A comparative analysis of the four types of beverage compared to the minor elements shows that 100% pineapple juice has the highest levels of Al while the cocktail has similar levels of Sr to those of French juice (Table 8).

  • All Collections shall be, and in any event shall be deemed to be, transferred to the Agent on each business day and applied, in each case, on each business day (and the Agent is hereby authorized to effectuate such transfers and application), against the Prepetition Secured Indebtedness and shall be deemed to have been refinanced and re-advanced as a DIP ABL Loan up to all outstanding Prepetition Secured Indebtedness (less the Retained Prepetition Lenders’ Claim).

Related to DIP ABL Loan

  • ABL Loans means the “Loans” as defined in the ABL Credit Agreement.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property. Fitch: Fitch, Inc., or its successor in interest.

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • DIP Loan means a Bank Loan, whether revolving or term, that is originated after the commencement of a case under Chapter 11 of the Bankruptcy Code by a Portfolio Company, which is a debtor in possession as described in Section 1107 of the Bankruptcy Code or a debtor as defined in Section 101(13) of the Bankruptcy Code in such case (a “Debtor”) organized under the laws of the United States or any state therein and domiciled in the United States, which satisfies the following criteria: (a) the DIP Loan is duly authorized by a final order of the applicable bankruptcy court or federal district court under the provisions of subsection (b), (c) or (d) of 11 U.S.C. Section 364; (b) the Debtor’s bankruptcy case is still pending as a case under the provisions of Chapter 11 of Title 11 of the Bankruptcy Code and has not been dismissed or converted to a case under the provisions of Chapter 7 of Title 11 of the Bankruptcy Code; (c) the Debtor’s obligations under such loan have not been (i) disallowed, in whole or in part, or (ii) subordinated, in whole or in part, to the claims or interests of any other Person under the provisions of 11 U.S.C. Section 510; (d) the DIP Loan is secured and the Liens granted by the applicable bankruptcy court or federal district court in relation to the Loan have not been subordinated or junior to, or pari passu with, in whole or in part, to the Liens of any other lender under the provisions of 11 U.S.C. Section 364(d) or otherwise; (e) the Debtor is not in default on its obligations under the loan; (f) neither the Debtor nor any party in interest has filed a Chapter 11 plan with the applicable federal bankruptcy or district court that, upon confirmation, would (i) disallow or subordinate the loan, in whole or in part, (ii) subordinate, in whole or in part, any Lien granted in connection with such loan, (iii) fail to provide for the repayment, in full and in cash, of the loan upon the effective date of such plan or (iv) otherwise impair, in any manner, the claim evidenced by the loan; (g) the DIP Loan is documented in a form that is commercially reasonable; and (h) the DIP Loan shall not provide for more than 50% (or a higher percentage with the consent of the Required Lenders) of the proceeds of such loan to be used to repay prepetition obligations owing to all or some of the same lender(s) in a “roll-up” or similar transaction. For the purposes of this definition, an order is a “final order” if the applicable period for filing a motion to reconsider or notice of appeal in respect of a permanent order authorizing the Debtor to obtain credit has lapsed and no such motion or notice has been filed with the applicable bankruptcy court or federal district court or the clerk thereof.

  • First Lien Last Out Loan means a loan that, prior to an event of default under the applicable Related Contract, is entitled to receive payments pari passu with other senior secured loans of the same Obligor, but following an event of default under the applicable Related Contract, such Collateral Loan becomes fully subordinated to other senior secured loans of the same Obligor and is not entitled to any payments until such other senior secured loans are paid in full.

  • First Lien Loans means the loans made under the First Lien Credit Agreement.

  • First Lien Mortgage Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Second Lien Loans means the “Loans” as defined in the Second Lien Credit Agreement and shall, for the avoidance of doubt, include Incremental Second Lien Loans.

  • Second Lien Mortgage Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • ABL Loan Documents means the “Loan Documents” as defined in the ABL Credit Agreement.

  • Senior Loan has the meaning provided in the Recitals hereto.

  • Term Loan Collateral means all of the assets of any Grantor, whether real, personal or mixed, upon which a Lien is granted or purported to be granted to any Term Loan Agent under any of the Term Loan Collateral Documents.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • First Lien Bank Loan means a Bank Loan that is entitled to the benefit of a first lien and first priority perfected security interest (subject to Liens for “ABL” revolvers and customary encumbrances) on a substantial portion of the assets of the respective borrower and guarantors obligated in respect thereof.

  • Collateral Loan means a loan, debt obligation, debt security or participation therein acquired by the Borrower.

  • Additional First Lien Obligations means, with respect to any Series of Additional First Lien Obligations, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Additional First Lien Obligations, (b) all other amounts payable to the related Additional First Lien Secured Parties under the related Additional First Lien Documents and (c) any renewals of extensions of the foregoing.

  • First Lien Loan Documents means the “Loan Documents” as defined in the First Lien Credit Agreement.

  • PPP Loan means the loan made to the Company by the PPP Lender pursuant to the PPP Loan Agreement, for the principal amount of $905,207.00, pursuant to the requirements of the Paycheck Protection Program under the CARES Act.

  • Junior Priority Obligations means the Original Second Lien Obligations and any Additional Obligations constituting Junior Priority Debt.

  • Senior Priority Obligations as defined in the Base Intercreditor Agreement.

  • Second Lien Bank Loan means a Bank Loan (other than a First Lien Bank Loan and a Last Out Loan) that is entitled to the benefit of a first and/or second lien and first and/or second priority perfected security interest on all or substantially all of the assets of the respective borrower and guarantors obligated in respect thereof.

  • Permitted Junior Priority Refinancing Debt means secured Indebtedness incurred by the Borrower in the form of one or more series of second lien (or other junior lien) secured notes or debentures or second lien (or other junior lien) secured loans; provided that (i) such Indebtedness is secured by all or a portion of the Collateral on a second priority (or other junior priority) basis to the Liens securing the Obligations and any other First Lien Obligations and is not secured by any property or assets of Holdings, the Borrower or any Restricted Subsidiary other than the Collateral, (ii) such Indebtedness satisfies the applicable requirements set forth in the provisos in the definition of “Credit Agreement Refinancing Indebtedness” (provided that such Indebtedness may be secured by a Lien on the Collateral that is junior to the Liens securing the Obligations and any other First Lien Obligations, notwithstanding any provision to the contrary contained in the definition of “Credit Agreement Refinancing Indebtedness”), (iii) the holders of such Indebtedness (or their representative) and the Administrative Agent and/or the Collateral Agent shall be party to a Customary Intercreditor Agreement, and (iv) such Indebtedness is not at any time guaranteed by any Subsidiaries of the Borrower other than Subsidiaries that are Guarantors.

  • Subordinated Loan has the meaning set forth in Section 1.2(a) of the Agreement.

  • Other First Lien Obligations means the “Other First Lien Obligations” as defined in the Collateral Agreement, including any interest accruing after commencement of any bankruptcy or insolvency proceeding with respect to any holder of Other First Lien Obligations whether or not allowed in such proceeding.

  • First Lien Term Loans means the “Term Loans” as defined in the First Lien Credit Agreement.

  • Second Lien Loan Documents means the Second Lien Credit Agreement and the other “Loan Documents” as defined in the Second Lien Credit Agreement.