DIP Notes definition

DIP Notes. Facility Estimated Allowed Amount: $55 million. Paid in full in cash on the Effective Date or satisfied on another basis agreed upon by HD and all of the DIP Lenders.

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DIP Notes means (a) the Promissory Note dated September 2, 2022 issued by the DIP Borrowers in the stated principal amount of $426,600, payable to the order of AAVIN Mezz and (b) the Promissory Note dated September 2, 2022 issued by the DIP Borrowers in the stated principal amount of $173,400, payable to the order of AAVIN Equity.

DIP Notes means the Series of Notes issued pursuant to the Programme by NV, as listed on the table on the front page of this Notice of Adjourned Meetings under the heading DIP Notes;

Examples of DIP Notes in a sentence

• Second Lien DIP Notes shall become due and payable on the DIP Facility Termination Date (as defined below), subject to the Equity Conversion.

• The Issuers may prepay the Second Lien DIP Notes subject to customary notice periods and payment of breakage costs and the Prepayment Fee (which payment may be waived upon the written consent of the Required Note Purchasers in their sole discretion, provided, however, that the Required Note Purchasers may not waive the Prepayment Fee with respect to the Tranche A-3 Notes).

• For the avoidance of doubt, any transferee of Second Lien DIP Notes described above shall execute a joinder to the Restructuring Support Agreement as a precondition to any transfer described above becoming effective.

• The foregoing provisions are intended as an inducement to the holders of Lenders Debt, New Money DIP Notes, and Roll-Up Notes to extend credit and such holders are intended third party beneficiaries of such provisions and the provisions of the Intercreditor Agreement (as modified by the DIP Order), DIP Order and DIP Documents.

• Promptly upon the DIP Notes Creditor Register being updated for any holder, the Registrar shall give to the relevant holder a true, complete and correct copy of the updated DIP Notes Creditor Register in respect of such holder.

• Each such new Note shall be payable to such Person as such holder may request and shall be evidenced by electronic book-entry in the DIP Notes Creditor Register maintained by the Registrar.

• If requested by such DIP Notes Creditor, such DIP Notes Creditor shall have received an Officer’s Certificate from the Company certifying as to such matters of fact as such DIP Notes Creditor may reasonably specify to enable such DIP Notes Creditor to determine whether such purchase is so permitted.

• All references in the Loan Agreement or any related agreement or instrument to the Loan Agreement or the DIP Notes shall hereafter refer to the Loan Agreement or the DIP Notes as amended hereby.

• Each of the parties hereto agrees that if requested by the Required Holders in connection with the DIP Notes Syndication, the Holders will enter into such master assignment agreement (or other similar agreements), as may be required to evidence the ratable holdings of Notes and Commitments.

• Company(or an agent or sub-agent appointed by it) shall maintain at its principal executive office a register for the recordation of the names and addresses of Purchaser and principal amounts (and stated interest) of the DIP Notes owing to, Purchaser pursuant to the terms hereof from time to time (the “Register”).

More Definitions of DIP Notes

DIP Notes means (i) New Money Notes issued pursuant to Section 2.01(a), (ii) Roll Up Notes deemed issued pursuant to Section 2.01(b) and (iii) notes deemed issued in respect of any payment in kind interest pursuant to Section 2.03(b), in each case, including any interest paid in kind thereon and substantially in the form attached hereto as Exhibit B.

DIP Notes means the 11% Senior Secured ABL DIP Noted issued pursuant to the DIP Indenture;

DIP Notes means the “Notes,” as defined in the DIP Note Purchase Agreement.

DIP Notes means the Roll Up DIP Notes and the New Money DIP Notes, as applicable.

DIP Notes means the convertible promissory notes issued during the pendency of this case pursuant to Section 364 of the Code.