DIP Facility and Exit Facility definition

DIP Facility and Exit Facility. The Company shall enter into a Debtor-in-Possession and a post-Chapter 11 Case working capital facility on terms substantially the same as those contained in the $250 million Credit Agreement, dated March 31, 1998, as amended, among the bank lenders and the Company and its subsidiaries (the "SCF"), including specifically, but without limitation, the same provisions relating to availability and advances, and with the following additional terms: - At least $20 million of additional DIP Facility borrowing base availability - At least $15 million of additional Exit Facility borrowing base availability; and - Definitive documentation, including other covenants, terms and conditions consistent with the Indicative Term Sheet from BT dated November 9, 2000, and otherwise acceptable to the Committee.
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Examples of DIP Facility and Exit Facility in a sentence

  • In addition, any Potential Action that would result in a pledge of the direct or indirect interests in Borrower and/or the Secured Property, other than the pledges of substantially all of the direct or indirect interests in the property owning subsidiaries of PREIT (but excluding any for which such pledge is not permitted) pursuant to the DIP Facility and Exit Facility, shall require the prior written consent of Lender.

  • The parties agree that the forms of the Intercreditor Agreement, Junior DIP Facility and Exit Facility as posted on the KCC website as of February 8, 2013 are reasonably satisfactory to the parties with the exception of changes the parties reasonably agree are necessary to give effect to the changes contemplated by this Amended and Restated Commitment Letter from the initial Commitment Letter (the “Documentation Principles”).