DIP L/C Facility definition

DIP L/C Facility means the cash collateralized letter of credit facility of up to $150,000,000 under the DIP Financing.
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DIP L/C Facility means the letter of credit facility under the DIP L/C Agreement.
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DIP L/C Facility and (iii) the Roll-Up Facility. As used herein, (a) “DIP Obligations” means the loans and other obligations under the DIP Facilities, including, without limitation, the Roll-Up Obligations, (b) “DIP Revolver Obligations” means the loans and other obligations under the DIP Revolving Facility, and (c) “DIP LC Obligations” means the obligations under the DIP LC Facility (the DIP LC Obligations together with the DIP Revolver Obligations, the “DIP Revolver and LC Obligations”).
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Examples of DIP L/C Facility in a sentence

  • Each officer of a Debtor acting singly is hereby authorized to execute and deliver each of the DIP Loan Documents and the DIP L/C Facility Documents, such execution and delivery to be conclusive of their respective authority to act in the name of and on behalf of the Debtors.

  • As described in the Augustine Declaration, the Debtors have been and continue to be unable to obtain financing on more favorable terms from sources other than the DIP Secured Parties and the DIP L/C Issuer under the DIP Loan Documents and the DIP L/C Facility Documents, respectively.

  • The researcher will examine first-generation college students’ perception of how influential educators, family, and peers were in their decision to matriculate to college.

  • The Debtors are also unable to obtain secured credit allowable under sections 364(c)(1), 364(c)(2) and 364(c)(3) of the Bankruptcy Code without the Debtors granting to the DIP Secured Parties and the DIP L/C Issuer the rights, remedies, privileges, benefits and protections provided herein and in the DIP Loan Documents and the DIP L/C Facility Documents, respectively, including, without limitation, the DIP Liens and the DIP Super-Priority Claims (as defined below).

  • Upon their execution and delivery, the DIP Loan Documents and the DIP L/C Facility Documents shall represent valid and binding obligations of the applicable Debtors enforceable against such Debtors in accordance with their terms.

  • Pursuant to the DIP Facility, all existing letters of credits outstanding under the Existing Credit Agreement were deemed letters of credit under the DIP L/C Facility.

  • All New L/C Obligations of the Borrower shall be unconditionally guaranteed by each of the Guarantors on a joint and several basis, and cash collateralized by the Borrower, using cash or proceeds of the DIP Loans, in an amount equal to 105% of the aggregate Undrawn Amount (as defined in the DIP L/C Agreement) of New Letters of Credit issued, in each case as further provided in the DIP L/C Facility Documents, including with respect to subordination of the DIP Liens on such cash collateral.

  • Subject to the provisions of Paragraph 15(c), upon the occurrence of an L/C Event of Default, the DIP L/C Issuer is authorized to exercise its rights and remedies under or pursuant to the DIP L/C Facility Documents, the Interim Order, this Final Order and applicable law.

  • The letters of credit under the DIP L/C Facility are being used to support undertakings by GenTek or certain subsidiaries and provide financial assurance for obligations incurred by GenTek or any of these subsidiaries in the ordinary course of business.

  • In the event of any inconsistency between the terms and conditions of the DIP Loan Documents or the DIP L/C Facility Documents, the Interim Order and this Final Order, the provisions of this Final Order shall govern and control.

Related to DIP L/C Facility

  • LC Facility means the letter of credit facility established pursuant to Article III.

  • L/C Facility means the letter of credit facility established pursuant to Article III.

  • Revolver Facility means the credit facility as described in and subject to the limitations set forth in Section 2.01.

  • Credit Facility shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof.

  • 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.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • New Credit Facility is defined in Section 9.8.

  • Loan Facility means the Revolving Loan Facility, the Transaction Specific Loan Facility or the Transaction Specific Revolving Loan Facility established by Lender in favor of Borrower under the Loan Documents.

  • Bank Facility means any credit agreement, including the Credit Agreement dated June 28, 2012 among Bank of America, N.A., Equinix, Inc. and the guarantors party thereto, as amended, together with the related documents thereto (including, without limitation, any guarantee agreements and security documents), in each case as such agreements may be amended (including any amendment and restatement thereof), supplemented or otherwise modified from time to time, including one or more credit agreements, loan agreements or similar agreements or indentures extending the maturity of, refinancing, replacing or otherwise restructuring (including increasing the amount of available borrowings thereunder or adding Restricted Subsidiaries of the Company as additional borrowers or guarantors thereunder) all or any portion of the Indebtedness under such agreement or agreements or any successor or replacement agreement or agreements and whether by the same or any other agent, holders, lender or group of lenders.

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

  • Revolving Credit Facility means, at any time, the aggregate amount of the Revolving Credit Lenders’ Revolving Credit Commitments at such time.

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.7.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Revolving Credit Facilities means the collective reference to the Dollar Revolving Credit Facility and the Alternative Currency Revolving Credit Facility.

  • Tranche A Facility means the aggregate of the Tranche A Commitments.

  • Exit Facility Credit Agreement means the credit agreement, Filed with the Plan Supplement, which credit agreement shall contain terms and conditions consistent in all respects with those set forth on the Exit Facility Term Sheet and, to the extent any terms and conditions are not set forth on or contemplated therein, such other terms and conditions as are acceptable to the Special Restructuring Committee and the Majority Noteholders in the manner set forth in the Restructuring Support Agreement.

  • Bank Credit Facility means any credit agreement or working capital facility among the Company and/or its Subsidiaries and one or more lenders, as such credit agreement or working capital facility may be amended, renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise modified (including with other lenders) from time to time, regardless of whether any other credit agreement or working capital facility or any portion thereof was outstanding or in effect at the time of such amendment, renewal, extension, substitution, refinancing, restructuring, replacement, supplement or modification.

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Revolving Facilities means collectively the Initial Revolving Facility and each New Revolving Facility and “Revolving Facility” means any such facility individually.

  • Term Loan Facility means the Term Loan Commitments and the provisions herein related to the Term Loans.

  • Revolving Facility means, at any time, the aggregate amount of the Revolving Lenders’ Revolving Commitments at such time.

  • Replacement Revolving Facility has the meaning assigned to such term in Section 9.02(c)(ii).

  • Existing Revolving Credit Facility means the $600,000,000 (subject to increase in accordance with its terms) revolving credit facility evidenced by that certain Amended and Restated Revolving Credit Agreement dated as of June 14, 2022 by and among the Borrower, the Parent, the lenders from time to time party thereto as “Lenders”, and JPMorgan Chase Bank, N.A., as Agent.

  • Credit Facility Agent means the then acting Agent as defined in and under the Credit Facility or any successor thereto.

  • Term Loan Facilities means the Term Loan A Facility and the Term Loan B Facility.

  • Refinancing Facility has the meaning specified in Section 2.16(a).