DIP Backstop Lenders definition

DIP Backstop Lenders means the Backstop Lenders (as such term is defined in the DIP Credit Agreement).
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Examples of DIP Backstop Lenders in a sentence

  • The purchase price has been allocated based on the fair values of the assets acquired (approximately $29,600, including goodwill of $19,500) and liabilities assumed (approximately $5,300).

  • The Restructuring Support Agreement is anchored by the DIP Facility, which was fully backstopped by the DIP Backstop Lenders.

  • All existing eligible holders of Secured Notes were given the opportunity to participate pro rata in, and the DIP Backstop Lenders fully-backstopped, the DIP Facility.

  • On the same date, the Debtors repaid in full the DIP Loans of the DIP Lenders that are not DIP Backstop Lenders in accordance with the DIP Documents.

  • Each DIP Backstop Lender shall provide no less than such DIP Backstop Lender’s pro rata share (based on Total Credit Exposure (as defined in the Prepetition Credit Agreement), without regard to any Total Credit Exposure held by Lenders under the Prepetition Credit Agreement other than the DIP Backstop Lenders) of 60% of the aggregate DIP Commitments.

  • TheEach DIP Backstop LendersLender shall provide no less than 60% ofsuch DIP Backstop Lender’s pro rata share (based on Total Credit Exposure (as defined in the Prepetition Credit Agreement), without regard to any Total Credit Exposure held by Lenders under the Prepetition Credit Agreement other than the DIP Backstop Lenders) of 60% of the aggregate DIP Commitments.

  • In the Backstop Agreement and DIP Documents, the Commitment Parties and DIP Backstop Lenders (to the extent exercising the DIP Non-Cash Takeout Option), as applicable, will be required to make representations and warranties as to their sophistication and suitability to participate in the private placement.

  • The DIP Backstop Lenders will agree to backstop a senior secured superpriority delayed draw term loan facility in an aggregate principal amount of up to $100.0 million (the “DIP Facility”, the loans made thereunder (which shall be denominated in dollars) (the “DIP Loans”) and the commitments to make such DIP Loans (the “DIP Commitments”)) on the terms and conditions set forth herein and in the DIP Loan Documents (as defined below).

Related to DIP Backstop Lenders

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

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

  • Prepetition Lenders means the lenders party to the Prepetition Credit Agreement.

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

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

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

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

  • 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.

  • 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.

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

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

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

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

  • 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).

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

  • 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.

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

  • Tranche B Lenders means First Union National Bank and shall include the several banks and other financial institutions from time to time party to the Credit Agreement that commit to make the Tranche B Loans.

  • DIP Lender means a lender under the DIP Facility.

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

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

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

  • Requisite Term Loan Lenders shall in no event mean less than two Term Loan Lenders.

  • 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.