Examples of DIP Term Loan Facility in a sentence
The DIP Term Loan Obligations shall be secured by the Collateral, and the respective priorities of the Revolving Credit Facility and the DIP Term Loan Facility (and each facility thereof) with respect to the ABL Priority Collateral and the Term Loan Priority Collateral of the Loan Parties shall be set forth in the New DIP Order and in the Intercreditor Agreement.
Upon the occurrence and during the continuance of any Event of Default, upon the written election of the Agent, following written direction of the Majority Lenders, interest on the outstanding Obligations in respect of the DIP Term Loan Facility shall accrue at the Default Rate.
The respective priorities of the DIP ABL Facility, the DIP Term Loan Facility and other parties claiming Liens on all or any part of the Collateral are as set forth in the Interim Order and upon entry by the Bankruptcy Court of the Final Order shall be as set forth therein.