DIP Creditor definition
Examples of DIP Creditor in a sentence
The execution, delivery and effectiveness of this Agreement shall not operate as a waiver of any right, power or remedy of any DIP Creditor or the Co-Administrative Agents under any of the Credit Documents, nor constitute a waiver of any provision of the Credit Documents.
Each DIP Creditor hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such DIP Creditor under any Credit Document or otherwise payable by the Administrative Agent to such DIP Creditor from any other source against any amount due to the Administrative Agent under this paragraph (d).
All of the Borrower’s obligations under this Article III shall survive termination of the Aggregate Commitments and repayment of all other Obligations hereunder and any assignment of rights by or replacement of a DIP Creditor.
Subject to the provisions of this Agreement, the Closing Documents shall be delivered at 11:00 o'clock A.M., EST, on February 25, 1999 ("the Date of Closing"), at the offices of the Title Company, unless otherwise agreed upon in writing.
The Borrower shall indemnify each Agent-Related Person and each DIP Creditor from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Borrower in the absence of gross negligence or willful misconduct.
Notices and other communications to the DIP Creditors hereunder may be delivered or furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to notices to any DIP Creditor pursuant to Article II if such DIP Creditor, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication.
Each DIP Creditor and each Secured Party irrevocably authorizes and irrevocably directs the Collateral Agent and the Administrative Agent to take the Release Actions and consents to reliance on the Release Certificate.
Subject to the Orders, compliance with the procedures and terms set forth in Section 2.03 and the conditions set forth in Section 4.01, the DIP Fronting Creditor and each Specified Initial DIP Creditor, severally, but not jointly, agrees to make Initial Tranche A Loans (the “Initial Term Loans”) to the Company on the Closing Date, in a single draw denominated in Dollars in an amount not to exceed the aggregate amount set forth in the definition of “Initial Term Loan Commitment”.
Notwithstanding anything to the contrary in this Section 2.20(f), in no event will the Co-Administrative Agents or any DIP Creditor be required to pay any amount to an indemnifying party pursuant to this paragraph to the extent the payment of such amount would place the Co-Administrative Agents or such DIP Creditor in a less favorable net after-Tax position than it would have been in if the indemnification payments or additional amounts giving rise to such refund had never been paid.
In addition, each DIP Creditor agrees to notify the Administrative Agents from time to time to ensure that the Administrative Agent has on record (i) an effective address, contact name, telephone number, telecopier number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such DIP Creditor.