First Lien Term Facility and loans thereunder, the “Term Loans”), which will be deemed to have been provided to the Borrower by each First Lien Bank Lender in accordance with the Restructuring Term Sheet (in such capacity, the “Lenders”).
First Lien Term Facility means the credit facilities under the First Lien Term Facility Credit Agreement.
First Lien Term Facility means the first lien term loan facility under the First Lien Credit Agreement.
Examples of First Lien Term Facility in a sentence
Amounts under the First Lien Term Facility that are repaid or prepaid may not be reborrowed.
All voluntary prepayments of the First Lien Term Facility will be applied pro rata to the Term Loan (and pro rata among the Lenders) and to the remaining amortization payments under the First Lien Term Facility in such order as the Borrower may direct.
Each assignment, in the case of the First Lien Term Facility, will be in an amount of an integral multiple of $1,000,000.
The above-described mandatory prepayments shall be applied to the First Lien Term Facility in direct order of maturity.
The Borrower shall incur the full amount of the First Lien Term Facility on the Closing Date.
More Definitions of First Lien Term Facility
First Lien Term Facility and loans thereunder, the “Term Loans”), which will be deemed to have been provided to the Borrower by the First Lien Bank Lenders, in accordance with the Restructuring Term Sheet (in such capacity, collectively the “Lenders”). (B) at the Borrower’s option, a senior secured revolving credit facility in an aggregate principal amount not to exceed $200 million, to be provided by one or more of the First Lien Bank Lenders and/or one or more other financial institutions (which shall become Lenders under the Senior Facilities), a portion of which will be available through a subfacility in the form of letters of credit (the “Revolving Facility” and, together with the First Lien Term Facility, the “Senior Facilities”). 1 All capitalized terms used but not defined herein shall have the meaning assigned thereto in the Restructuring Term Sheet to which this Term Sheet is attached (the “Restructuring Term Sheet”). 2 NTD: Assumes CEOC is the operating company in the new REIT structure. In accordance with the Restructuring Term Sheet, the Borrower shall use its commercially reasonable efforts to syndicate the First Lien Term Facility (in the form of term loans and/or bonds) to the market through an Approved Agent or otherwise through a financial institution reasonably acceptable to the Requisite Consenting Creditors at or below the interest rates set forth herein (the “Syndicated First Lien Term Facility”) and, to the extent so syndicated, the net cash proceeds thereof will be used to increase the cash payments to the First Lien Bank Lenders and the First Lien Noteholders on a pro rata basis (based on the aggregate principal amount of Opco First Lien Debt otherwise contemplated to be issued to them before giving effect to any such syndication) pursuant to the terms of the Restructuring Term Sheet. Any such cash payments to the First Lien Bank Lenders will reduce on a dollar-for-dollar basis the First Lien Term Facility to be provided by the First Lien Bank Lenders. Any such cash payments to the First Lien Noteholders will reduce on a dollar-for-dollar basis the amount of First Lien Notes to be issued to the First Lien Noteholders. If the aggregate principal amount of the Syndicated First Lien Term Facility is less than the aggregate principal amount of the First Lien Term Facility to be provided by the First Lien Bank Lenders on the Closing Date (after giving effect to the dollar-for-dollar reduction described above), then the terms of the Syndicated First Lien Term Fa...
First Lien Term Facility means the facility contemplated by that certain First Lien Credit and Guarantee Agreement, dated as of the date hereof, among Borrower, Holdings, the lenders party thereto, First Lien Term Agent and the other agents named therein, as amended, restated, supplemented, modified or Refinanced (as defined in the ABL/Term Loan Intercreditor Agreement) by a Permitted Refinancing from time to time.
First Lien Term Facility has the meaning assigned to such term in the fifth recital hereto.
First Lien Term Facility means the seven-year first lien term loan facility in aggregate principal amount of $950,000,000 under this Agreement.
First Lien Term Facility means the term loan facility under the First Lien Credit Agreement or any amendment, supplement, modification, substitution, replacement, restatement or refinancing thereof, in whole or in part, pursuant to a Permitted Refinancing from time to time, in each case as and to the extent permitted by this Agreement and the Term Loan Intercreditor Agreement.
First Lien Term Facility means the first priority senior secured term loan facility made to the Borrower pursuant to the First Lien Credit Agreement in an aggregate principal amount not exceeding $185,000,000.
First Lien Term Facility means the First Lien Credit Agreement, dated as of the Emergence Date, by and among the Company, as the borrower, the guarantors party thereto, the various lenders and agents party thereto and Cortland Capital Market Services, LLC, as administrative agent and collateral agent, together with any amendments, supplements, modifications, extensions, renewals, restatements or refundings thereof and any indentures or credit facilities or commercial paper facilities with banks or other institutional lenders or investors that replace, refund or refinance any part of the loans, notes, other credit facilities or commitments thereunder, including any such replacement, refunding or refinancing facility or indenture that increases the amount borrowable thereunder, alters the maturity thereof or adds Restricted Subsidiaries as additional borrowers or guarantors thereunder and whether by the same or any other agent, lender, group of lenders or investors; provided that any instrument entered into (other than the First Lien Term Facility entered into on the Emergence Date, as amended or supplemented from time to time) shall not be a First Lien Term Facility unless designated in writing by the Company as such to the Trustee.