Examples of Existing DIP Credit Agreement in a sentence
The proceeds of the Loans shall be used to (i) refinance outstanding Term Loans under, and as defined in, the Existing DIP Credit Agreement (as such agreement is in effect immediately prior to the Closing Date), (ii) fund working capital requirements of the Company, (iii) fund adequate protection payments in respect of the Existing Second Lien Debt permitted under the DIP Order, and (iv) fund settlement payments reasonably acceptable to the Required Lead Lenders.
For the avoidance of doubt, prior to the Conversion Date this Agreement may be amended by the Required Lead Lenders (as defined in the Existing DIP Credit Agreement).
This Agreement shall not constitute a novation or repayment of the obligations and liabilities existing under the Existing DIP Credit Agreement or evidence payment of all or any of such obligations and liabilities.
Each Loan Party hereby reaffirms its obligations under each Loan Document (as defined in the Existing DIP Credit Agreement, collectively, the “Original Loan Documents”) to which it is party, as amended, supplemented or otherwise modified by this Agreement and by the other Loan Documents delivered on the Effective Date.
From and after the Effective Date, the rights of the parties to this Agreement shall be governed by this Agreement; provided that the rights of parties in respect of periods prior to the Effective Date shall be governed by the terms of the Existing DIP Credit Agreement as in effect at the relevant time.