DIP Term definition

DIP Term means a period commencing on the date of entry of the Interim Financing Order and ending on June 25, 2001 or such later date as may be agreed to in writing by Debtors, Agents and Lenders in writing.

DIP Term means a period commencing on the date of entry of the Financing Order and ending on the first anniversary thereof.

DIP Term means a period commencing on the date of entry of the Interim Financing Order and ending on the earliest to occur of: (a) December 2, 2005, or (b) the consummation of a sale, pursuant to Section 363 of the Bankruptcy Code or pursuant to a confirmed plan of reorganization or liquidation pursuant to Chapter 11 of the Bankruptcy Code, of all or a substantial portion of the assets of any Borrower (not to include sales conducted pursuant to the De Minimis Asset Sale Order), including, without limitation, an Acceptable Sale.

Examples of DIP Term in a sentence

• In addition, on the Effective Date, the 3% exit fee under the DIP Term Loan Agreement shall be paid to the DIP Roll Up Lenders.

• Upon the payment or satisfaction of the Allowed DIP Term Loan Facility Claims in accordance with this Article II.B.2, all Liens and security interests granted to secure the Allowed DIP Term Loan Facility Claims shall be automatically terminated and of no further force and effect without any further notice to or action, order, or approval of the Bankruptcy Court or any other Entity.

• The DIP Term Loan Claims shall be deemed to be Allowed Claims under the Plan.

• On the Effective Date, subject to entry of the Final DIP Order approving the DIP Term Loan Roll-up Claims, the Prepetition Term Loan Claims shall be deemed Allowed in the aggregate principal amount of $90,068,705.10, plus all interest (including any payment-in-kind interest), fees, and other expenses payable under the Prepetition Term Loan Agreement related to the Prepetition Term Loan Facility.

• The DIP Term Loan Facility was used in part to repay in full the outstanding obligations under the Company’s existing ABL Facility.

• Upon payment and satisfaction in full of all Allowed DIP Term Loan Claims, all Liens and security interests granted to secure such obligations, whether Claims in the Reorganization Cases or otherwise, shall be terminated and of no further force or effect.

• In full satisfaction, settlement, release and discharge of the Allowed DIP Term Loan Claims, on the Effective Date, all Allowed DIP Term Loan Claims shall be paid in full in Cash.

• The automatic conversion of the DIP Revolving Credit Loans, DIP Term C Loans, DIP Term Letters of Credit, DIP Revolving Letters of Credit and DIP Term Loans into Loans and Letters of Credit hereunder, is subject to the satisfaction in all material respects or waiver by the Requisite DIP Roll Lenders of the conditions precedent set forth in this Section 6 (such date, the “Conversion Date”).

• All cash distributions to be made hereunder to the DIP Term Loan Agent on account of the DIP Term Loan Claims shall be made by wire transfer.

• The DIP Term Loan Agent shall hold or direct distributions for the benefit of the Holders of DIP Term Loan Claims.

More Definitions of DIP Term

DIP Term means a period commencing on the date of entry of the Interim Financing Order and ending on the first anniversary thereof; provided, that if the DIP Term has been extended by the Borrowers pursuant to Section 3.2(b), the DIP Term shall end on the last day of the applicable Renewal Period.

DIP Term means a period commencing on the date of entry of the Interim DIP Financing Order and ending on April 22, 2011.