Examples of First Out Term Loan Facility in a sentence
Plan Distributions of Cash shall be funded from the Debtors’ Cash on hand as of the applicable date of such Plan Distribution and from proceeds of the New First Out Term Loan Facility.
Further, the Debtors have not conducted appraisals of any of their assets constituting collateral to determine if the value of the collateral upon foreclosure or liquidation equals or exceeds the amount of the New First Out Term Loan Facility and New Second Out Term Loan Facility or such other obligation secured by the Collateral.
Casualty Risk of Collateral The Reorganized Debtors will be obligated by the New First Out Term Loan Facility and New Second Out Term Loan Facility to maintain adequate insurance or otherwise insure against hazards as is customarily done by companies having assets of a similar nature in the same or similar localities.
They visited villages once a week and performed various promotional activities: door to door campaigns, meetings with potential clients (including the participation of clients to share their experiences), contact with village associations, cooperatives and women centers, etc.
In the event of a subsequent foreclosure, liquidation, bankruptcy, or similar proceeding, it cannot be assured that the proceeds from any sale or liquidation of the collateral will be sufficient to pay the Reorganized Debtors’ obligations under the New First Out Term Loan Facility and New Second Out Term Loan Facility, in full or at all.
On the Effective Date, on a consolidated basis, it is expected that the Reorganized Debtors will have total secured indebtedness of approximately $585 million, which is expected to consist of the New First Out Term Loan Facility, the New Second Out Term Loan Facility and the Exit AR Facility.
Accordingly, it cannot be assured that the remaining proceeds from a sale of the Collateral would be sufficient to repay holders of the securities under the New First Out Term Loan Facility and New Second Out Term Loan Facility all amounts owed under them.
Defects in Collateral Securing the New First Out Term Loan Facility and New Second Out Term Loan Facility The indebtedness under the New First Out Term Loan Facility and New Second Out Term Loan Facility will be secured, subject to certain exceptions and permitted liens, on a first-priority basis by security interests in substantially all assets of the Reorganized Debtors (henceforth, the “Collateral”).
The Collateral securing the New First Out Term Loan Facility and New Second Out Term Loan Facility may be subject to exceptions, defects, encumbrances, liens, and other imperfections.
If there is a total or partial loss of any of the pledged Collateral, the insurance proceeds received may be insufficient to satisfy the secured obligations of the Reorganized Debtors, including the New First Out Term Loan Facility and New Second Out Term Loan Facility.