Exit First Lien Term Loan Facility definition

Exit First Lien Term Loan Facility means that certain $15 million first priority secured term loan facility to be provided by the Exit First Lien Term Loan Lender Parties to Reorganized Quoizel, in exchange for a like amount of ABL Claims, on terms and conditions acceptable to Quoizel, the Exit First Lien Term Loan Lender Parties, and the Initial Plan Sponsors; provided that, to the extent the remaining ABL Claims are not satisfied in full from the Upfront Cash Repayment and the ABL Priority Collateral Net Sale Proceeds by October 31, 2023, then the principal amount of the Exit First Lien Term Loans may be increased by up to $3.75 million at the election of the Exit First Lien Term Loan Facility Lender Parties.
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Exit First Lien Term Loan Facility means a new term loan facility in an aggregate principal amount equal to the sum of (a) the amount of DIP Term Loan Facility Claims (including all interest accrued thereunder through the Effective Date) plus (b) the amount of all First Lien Term Loan Claims (including all interest accrued thereunder through the Effective Date) pursuant to the Exit First Lien Term Loan Documents.​
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Examples of Exit First Lien Term Loan Facility in a sentence

  • I have failed to detect any evidence that he was responding to publication in the EU.

  • The Exit First Lien Term Loan Facility, the Exit Second Lien Term Loan Facility, the Promissory Note, and any additional exit financing that may be obtained by Reorganized Quoizel, as determined by the Initial Plan Sponsors, and the New Organizational Documents are essential elements of the Plan, are necessary for Confirmation and Consummation of the Plan, and are critical to the overall success and feasibility of the Plan.

  • The execution, delivery, or performance by the Debtors or Reorganized Quoizel, as applicable, of any of the Exit First Lien Term Loan Facility, the Exit Second Lien Term Loan Facility, the Promissory Note, or the New Organizational Documents, and any agreements related thereto and compliance by the Debtors or Reorganized Quoizel, as applicable, with the terms thereof is authorized by, and will not conflict with, the terms of the Plan or this Order.

  • The Debtors have exercised sound business judgment in deciding to pursue and enter into the Exit First Lien Term Loan Facility, the Exit Second Lien Term Loan Facility, the Promissory Note, and the New Organizational Documents and have provided adequate notice thereof.

  • As of the Effective Date, the Exit First Lien Term Loan Facility, the Exit Second Lien Term Loan Facility, and the Promissory Note shall constitute legal, valid, binding, and authorized obligations of Reorganized Quoizel and/or any successors, assigns, or transferees of the applicable Debtors or Reorganized Quoizel, including in connection with the Restructuring Transactions, enforceable in accordance with their terms.

  • If a partnership or other entity or arrangement taxable as a partnership for U.S. federal income tax purposes holds Claims, the Exit First Lien Term Loan Facility, the Exit Second Lien Term Loan Facility, the New Equity Interests or the Subscription Rights, the tax treatment of a partner in such partnership generally will depend upon the status of the partner and the activities of the partnership.

  • The Exit First Lien Term Loan Facility and Exit Second Lien Term Loan Facility shall constitute legal, valid, binding and authorized joint and several obligations of the Reorganized Debtors, enforceable in accordance with their terms, and such obligations shall not be enjoined or subject to discharge, impairment, release, avoidance, recharacterization, or subordination under applicable law, the Plan or the Confirmation Order.

  • The following discussion assumes that the terms of the Exit First Lien Term Loan Facility and the Exit Second Lien Term Facility will constitute a “significant modification” as compared to the terms of the prepetition FLTL and FLLO facilities, respectively, and thus will be treated as an exchange of the FLTL Claims and the FLLO Claims for a new term loan governed by the terms the Exit First Lien Term Loan Facility and the Exit Second Lien Term Loan Facility, respectively (the “New Loan Obligations”).

  • The agents or holder(s) of Liens under the Exit First Lien Term Loan Facility and the Exit Second Lien Term Loan Facility are authorized to file with the appropriate authorities mortgages, financing statements, and other documents, and to take any other action in order to evidence, validate, and perfect such Liens or security interests.

  • On the Effective Date, Reorganized Quoizel and/or any successors, assigns, or transferees of the applicable Debtors or Reorganized Quoizel, including in connection with the Restructuring Transactions, shall enter into the Exit First Lien Term Loan Facility, the Exit Second Lien Term Loan Facility, and the Promissory Note (the terms of which are set forth in the Plan Supplement).

Related to Exit First Lien Term Loan Facility

  • Term Loan Facility means the Term Loan Commitments and the provisions herein related to the Term Loans.

  • First Lien Term Loans means the “Term Loans” as defined in the First Lien Credit Agreement.

  • New Term Loan Facility means the facility providing for the Borrowing of New Term Loans.

  • Term Loan Facilities means the Term Loan A Facility and the Term Loan B Facility.

  • Initial Term Loan Facility means the Initial Term Loan Commitments and the provisions herein related to the Initial Term Loans.

  • Second Lien Term Loans means the “Term Loans” under and as defined in the Second Lien Credit Agreement.

  • Loan Facility means the Revolving Loan Facility, the Transaction Specific Loan Facility or the Transaction Specific Revolving Loan Facility established by Lender in favor of Borrower under the Loan Documents.

  • Refinancing Term Loan Commitments shall have the meaning provided in Section 2.14(h).

  • Term Loan B has the meaning set forth in Section 2.2(b).

  • Existing Term Loan Facility has the meaning specified in Section 2.17(a).

  • Incremental Term Loan Facility has the meaning set forth in Section 2.16(a).

  • Exit Facility Credit Agreement means the credit agreement, Filed with the Plan Supplement, which credit agreement shall contain terms and conditions consistent in all respects with those set forth on the Exit Facility Term Sheet and, to the extent any terms and conditions are not set forth on or contemplated therein, such other terms and conditions as are acceptable to the Special Restructuring Committee and the Majority Noteholders in the manner set forth in the Restructuring Support Agreement.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Term Loan Obligations means the “Obligations” as defined in the Term Loan Credit Agreement.

  • First Lien Last Out Loan means a loan that, prior to an event of default under the applicable Related Contract, is entitled to receive payments pari passu with other senior secured loans of the same Obligor, but following an event of default under the applicable Related Contract, such Collateral Loan becomes fully subordinated to other senior secured loans of the same Obligor and is not entitled to any payments until such other senior secured loans are paid in full.

  • Term Loan Credit Agreement has the meaning set forth in the recitals to this Agreement.

  • Term Loan A has the meaning set forth in Section 2.2(a).

  • Term Loan Claims means any Claim on account of, arising under, derived from, or based upon the Term Loan Documents, including Claims for all principal amounts outstanding, interest, fees, expenses, costs, and other charges arising thereunder or related thereto.

  • Refinancing Term Commitments means one or more term loan commitments hereunder that fund Refinancing Term Loans of the applicable Refinancing Series hereunder pursuant to a Refinancing Amendment.

  • First Lien Credit Agreement has the meaning set forth in the Recitals to this Agreement.

  • Term Loan Collateral means all of the assets of any Grantor, whether real, personal or mixed, upon which a Lien is granted or purported to be granted to any Term Loan Agent under any of the Term Loan Collateral Documents.

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.15(a)(ii).

  • Additional First Lien Obligations means, with respect to any Series of Additional First Lien Obligations, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Additional First Lien Obligations, (b) all other amounts payable to the related Additional First Lien Secured Parties under the related Additional First Lien Documents and (c) any renewals of extensions of the foregoing.

  • ABL/Term Loan Intercreditor Agreement means the Intercreditor Agreement, dated as of the Closing Date, by and among the Collateral Agent, Xxxxxx Xxxxxxx Senior Funding, Inc., as collateral agent under the Second Lien Term Loan Credit Agreement, Bank of America, N.A., as collateral agent under the ABL Credit Agreement, Parent and the Subsidiary Loan Parties party thereto, as amended, restated, supplemented or otherwise modified from time to time in accordance with the requirements thereof and of this Agreement.

  • Refinancing Term Loans means one or more Classes of Term Loans hereunder that result from a Refinancing Amendment.

  • Specified Refinancing Term Loans means Specified Refinancing Debt constituting term loans.