DIP Facility definition

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.

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DIP Facility has the meaning assigned to such term in the recitals hereto.

DIP Facility as defined in the recitals to this Agreement.

Examples of DIP Facility in a sentence

The DIP Facility shall be used for (i) working capital and corporate purposes of the Debtors, (ii) bankruptcy-related costs and expenses in respect of the Chapter 11 Cases, (iii) costs and expenses related to the DIP Facility, and (iv) refinancing all obligations under the Prepetition ABL Facility.
The reasonable and documented fees, costs and expenses of the Financial Advisors shall be paid by the DIP Loan Parties and shall form part of the DIP Obligations under the DIP Facility as further provided in the DIP Documents.
Conditions Precedent to all Borrowings: Usual and customary conditions precedent for facilities of this type and consistent with the DIP Documentation Principles, including a minimum excess availability under the DIP Facility for each credit extension of at least $5.0 million.
Exit ABL Facility On the Plan Effective Date, the DIP Facility shall convert into the Exit ABL Facility with an aggregate principal commitment of $135 million.
The terms of the DIP Facility shall be consistent with the DIP Term Sheet attached to the RSA as Exhibit C.

More Definitions of DIP Facility

DIP Facility means that certain debtor-in-possession credit facility created under the DIP Credit Agreement.

DIP Facility means any postpetition debtor-in-possession credit facility provided to the Debtors during the Chapter 11 Cases pursuant to the DIP Facility Agreement.

DIP Facility means the $500,000,000 superpriority senior secured credit facility provided by the DIP lenders pursuant to the DIP Credit Agreement.

DIP Facility means that superpriority unsecured non-amortizing credit facility of up to

DIP Facility means the multiple-draw term-loan credit facility with aggregate DIP Commitment of $70,000,000, as approved by the DIP Order.

DIP Facility means that certain Debtor-in-Possession Credit Agreement, dated as of October 27, 2009 (as modified, amended, restated and/or supplemented from time to time prior to the date hereof), among FairPoint Communications and FairPoint Logistics, Inc., as borrowers, the DIP Lenders, and the DIP Agent, which provides for a revolving facility in an aggregate principal amount of up to seventy-five million dollars ($75,000,000.00), of which up to thirty million dollars ($30,000,000.00) is available for the issuance of letters of credit to third parties for the account of FairPoint.

DIP Facility means that certain debtor-in-possession senior, secured credit facility entered into pursuant to the DIP Credit Agreement.