Exit ABL Facility definition

Exit ABL Facility means the asset-based revolving credit facility provided for under the Exit ABL Credit Agreement.

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Exit ABL Facility means the senior secured revolving credit facility under the Exit ABL Facility Loan Agreement.

Exit ABL Facility means either: (a) a replacement asset-based revolving loan facility pursuant to which the DIP ABL Lenders consent to converting all of their outstanding DIP ABL Facility Claims and commitments under the DIP ABL Facility into commitments under such Exit ABL Facility on such terms and conditions reasonably satisfactory to the Requisite First Lien Lenders, the DIP ABL Lenders, and, the Owners solely to the extent the provisions therein affect the legal and/or economic rights of the Owners or (b) a new asset-based revolving loan facility in an amount sufficient to indefeasibly repay in full in Cash on the Effective Date the DIP ABL Facility and satisfy section 1129 of the Bankruptcy Code, and with such other terms and conditions reasonably satisfactory to (i) the Requisite First Lien Lenders and (ii) the Owners solely to the extent the provisions therein affect the legal and/or economic rights of the Owners.

Examples of Exit ABL Facility in a sentence

Conditions precedent to each drawing under the Exit ABL Facility after the Conversion Date shall be consistent with the conditions to borrowing under the Prepetition ABL Credit Agreement but shall include a minimum excess availability under the Exit ABL Facility for each credit extension of at least $5.0 million.
The terms of the Exit ABL Facility shall be consistent with the Exit ABL Facility Term Sheet attached to the RSA as Exhibit D.
The Exit ABL Facility shall be secured by a first lien security interest on all assets of the Reorganized Debtors.
Exit ABL Facility On the Plan Effective Date, the DIP Facility shall convert into the Exit ABL Facility with an aggregate principal commitment of $135 million.
The Exit ABL Facility will be secured by perfected first-priority liens and security interests in substantially all assets of Borrowers and Guarantors, including all M&E and real property.2 1 Capitalized terms not otherwise defined herein shall have the meaning ascribed to such term in the DIP Term Sheet to which this is attached as Exhibit A or the Prepetition ABL Credit Agreement (as defined in the DIP Term Sheet).

More Definitions of Exit ABL Facility

Exit ABL Facility means a secured asset-based revolving credit facility, if any, entered into on the Effective Date in accordance with the Restructuring Documents and the Restructuring Support Agreement.

Exit ABL Facility means either (a) a new asset-based exit financing facility with aggregate total commitments of $430 million, which shall be on terms reasonably acceptable to the Debtors, the ABL Agent, and the Required Consenting Term Loan Lenders, and to be entered into on the Effective Date on the terms and conditions set forth in the Exit ABL Facility Documents and the Restructuring Support Agreement or (b) such other asset-based exit financing facility with terms reasonably acceptable to the Debtors, the ABL Agent, and the Required Consenting Term Loan Lenders to be entered into on the Effective Date.

Exit ABL Facility means either (a) a replacement asset-based revolving loan facility pursuant to which one or more DIP ABL Lenders, each in its sole discretion, consents to convert some or all of its outstanding DIP ABL Facility Claims and commitments under the DIP ABL Facility into commitments under such Exit ABL Facility, or (b) a new asset-based revolving loan facility in an amount up to $400 million and, in all events, in an amount sufficient to pay in full in cash the DIP ABL Facility Claims as of the Effective Date.

Exit ABL Facility means that certain Revolving Credit Agreement, dated as of [•], 2020, by and among NMG LTD and certain Debtors, as co-borrowers, each of the guarantors party thereto, the Exit ABL Agent, and the Exit ABL Lenders, as amended, restated, amended and restated, supplemented or otherwise modified, or replaced from time to time, in the approximate principal amount of $1.025 billion entered into in connection with the consummation of the Plan, which includes the Exit FILO Facility, and on terms mutually agreed upon by the Exit ABL Facility Agent, the Exit ABL Facility Lead Arrangers, and the Debtors.

Exit ABL Facility means either: (a) that certain asset-based revolving loan facility pursuant to which the DIP ABL Agent and DIP ABL Lenders agree to amend and restate all of their outstanding DIP ABL Credit Facility Claims and commitments under the DIP ABL Credit Facility into commitments under such Exit ABL Facility on such terms and conditions satisfactory to the Debtors, the DIP ABL Agent, and the DIP ABL Lenders, and reasonably satisfactory to the Requisite First Lien Creditors or (b) a new asset-based revolving loan facility in an amount sufficient to indefeasibly repay in full in Cash on the Effective Date all Obligations (as defined in the DIP ABL Credit Agreement) in accordance with the terms and conditions of the DIP ABL Credit Agreement and the DIP Financing Orders and satisfy section 1129 of the Bankruptcy Code, and with such other terms and conditions satisfactory to the Debtors and the Requisite First Lien Creditors.

Exit ABL Facility means the asset-backed revolving facility to be entered into by the Reorganized Debtors on the Plan Effective Date on terms reasonably satisfactory to the Required Consenting Creditors.

Exit ABL Facility means a senior secured asset-based revolving credit facility in an amount up to