Examples of First Lien Credit Agreement Amendment in a sentence
Prior to the effectiveness of the 2018 First Lien Credit Agreement Amendment, the Existing Credit Agreement included a revolving credit facility of $255 million maturing on May 2, 2021, and a revolving credit facility of $95 million maturing on July 1, 2020.
The First Lien Credit Agreement Amendment shall have become effective, and the “First Amendment Effective Date” (as defined therein) shall have occurred, and Borrower shall have delivered to Arranger a certificate of a Financial Officer to that effect.
The impact to the condensed consolidated financial statements as a result of the 2018 First Lien Credit Agreement Amendment was not material.
On the Effective Date, the Debtors shall enter into the First Lien Credit Agreement Amendment, which shall, among other things, on the Effective Date, or as soon thereafter as is practicable, convert all Allowed First Lien Revolving Facility Claims held (directly or indirectly) by the First Lien Lenders into First Lien Term Loan Claims (the “Converted Term Loan Claims”).
The Administrative Agent shall have received a duly executed copy of the First Lien Credit Agreement Amendment, in form and substance acceptable to the Administrative Agent.
For the avoidance of doubt, after the conversion of the Allowed First Lien Revolving Facility Claims and the contribution and exchange of Allowed First Lien Term Loan Claims (as described in Section 5.1 of the Plan), the Remaining Term Loans shall be governed by the First Lien Credit Agreement Amendment.
In connection with the 2018 First Lien Credit Agreement Amendment, the existing revolving credit facilities were replaced with a first lien revolving credit facility with an aggregate commitment of up to $350 million maturing on March 16, 2023 , subject to the repayment, extension, or refinancing with longer maturity debt of certain of the Company’s other indebtedness (“2023 Revolving Credit Facility”).
The primary terms of the First Lien Credit Agreement Amendment are set forth in the restructuring term sheet which is attached as Exhibit A to the Restructuring Support Agreement, which is attached hereto as Exhibit 2 (the “Restructuring Term Sheet”).
The First Lien Credit Agreement Amendment also sets forth certain other amendments to the First Lien Credit Agreement, including:4 3 Any terms used but not defined herein shall have the meaning ascribed to such terms in the First Lien Credit Agreement or the First Lien Credit Agreement Amendment.
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