First Out Term Loans definition

First Out Term Loans means “Loans” as defined in the First Out Term Loan Credit Agreement.
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First Out Term Loans and the commitments thereunder, the “First-Out Commitments”) converted in accordance with the Proposed Plan to holders of DIP Term Facility Claims; and · $88.2 million of last-out term loans (the “Last Out Term Loan Facility”, the loans thereunder, the “Last Out Term Loans” and the commitments thereunder, the “Last-Out Commitments”) distributed to holders of Term Loan Claims in accordance with the Proposed Plan. As used herein, “Term Loan Facility” means, collectively, the First Out Term Loan Facility and the Last Out Term Loan Facility. “Commitments” means, collectively, the First Out Commitments and the Last Out Commitments. “Term Loans” means, collectively, the First Out Term Loans and the Last Out Term Loans. The First Out Term Loans will be “first out” in right of payment priority and the Last Out Term Loans will be “last out” in right of payment priority (in each case, as between the tranches of Term Loans). The First Out Term Loans and Last Out Term Loans shall be secured on a pari passu basis by the same lien on the Collateral (as defined below). 1 Capitalized terms used but not defined in this Exit Facility Term Sheet have the meanings ascribed to them in the Restructuring Support Agreement, dated as of July 23, 2020 (the “Restructuring Support Agreement”) to which this Exit Facility Term Sheet is attached or the Proposed Plan attached as Exhibit B to the Restructuring Support Agreement.
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First Out Term Loans means, at any time, all of the Term A Loans and the Term B Loans held by the First Out Lenders.
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Examples of First Out Term Loans in a sentence

  • With respect to the First Out Term Loans, at the Parent Borrower’s election: · ABR (defined in a manner substantially similar to the Prepetition Term Loan Credit Agreement) plus 10.75% per annum in cash or Adjusted LIBO Rate (defined in a manner substantially similar to the Prepetition Term Loan Credit Agreement) plus 11.75% per annum in cash (subject to a 0.00% per annum floor on ABR and a 1.00% per annum floor on the Adjusted LIBO Rate) .

  • After giving effect to the making of the First Out Term Loans, each Lender’s First Out Term Loan Commitment shall terminate immediately and without further action on the Closing Date.

  • Amounts paid or prepaid in respect of First Out Term Loans may not be reborrowed.

  • The Borrower intends to use the proceeds of the First Out Term Loans and will request the issuance of Letters of Credit only for the purposes specified in Section 5.08.

  • Such repayments of Term Loans shall be allocated pro rata to the First Out Term Loans then outstanding and the Last Out Term Loans then outstanding (in each case, other than Other Term Loans and Extended Term Loans).

  • The total principal amount is expected to be $150.0 million, inclusive of the First Out Term Loans under the existing senior facility, which will be refinanced on amended terms.

  • The Borrower has requested the Lenders to extend credit in the form of (a) First Out Term Loans on the Closing Date, in an aggregate principal amount of $185,000,000 and (b) Last Out Term Loans on the Closing Date, in an aggregate principal amount of $50,000,000.

  • Derivatives of $1,704,000 (December 31, 2011 " $nil) reflects an unrealized gain of $304,000 at June 30, 2012 and deposits for the margin requirement to hold the silver futures.

  • The obligations under the DIP Credit Agreement and the Pre-Petition Credit Agreement shall have been repaid (or deemed repaid) on the Closing Date, including the conversion of DIP Roll Up Loans and the DIP New Money Loans (in each case, as defined in the DIP Credit Agreement) into First Out Term Loans under the First Out Term Loan Credit Agreement.

  • Mandatory prepayments shall be applied first to prepay outstanding First Out Term Loans in full and second to prepay outstanding Second Out Term Loans.


More Definitions of First Out Term Loans

First Out Term Loans means (i) the Closing Date First Out Term Loans made pursuant to Section 2.01(a) and (ii) the Incremental First Out Term Loans made pursuant to Section 2.22 Unless the context shall otherwise require, the term “First Out Term Loans” shall include all Classes of First Out Term Loans.
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First Out Term Loans means (i) the term loans deemed to be made by the applicable Term Lenders to the applicable Borrower pursuant to Section 2.01(a) and (ii) any Refinancing Term Loans incurred to Refinance Indebtedness described in clause (i) above or this clause (ii), in each case ranking equally and ratably in right of security and payment with the Indebtedness being refinanced (including as to waterfall and payment priority pursuant to a Permitted First Lien Intercreditor Agreement) solely to the extent permitted by, and subject to the limitations described in, this Agreement and any Permitted First Lien Intercreditor Agreement.
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First Out Term Loans means the First-Out Term Loans (as defined in the Credit Agreement as in effect on the Issue Date) and any Indebtedness (to the extent equal and ratable in right of payment and security with such First-Out Term Loans) Incurred to Refinance the First-Out Term Loans (to the extent such Refinancing is permitted under this Indenture). The outstanding principal amount of the First-Out Term Loans on the Issue Date in an aggregate initial principal amount of $229,397,988.74.
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First Out Term Loans means, at any time, all of the Term A Loans and the Term B Loans held by the First Out Lenders. “Guarantors” means Parent, Holdings, the Borrower and each Subsidiary Guarantor.
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First Out Term Loans means, collectively, the Delayed Draw Term Loans and the Second Amendment Term Loans.
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Related to First Out Term Loans

  • Initial Term Loans means the term loans made by the Lenders on the Closing Date to the Borrower pursuant to Section 2.01(a).

  • Extended Term Loans has the meaning specified in Section 2.15(a).

  • New Term Loans as defined in Section 2.24.

  • Replacement Term Loans has the meaning specified in Section 10.01.

  • Original Term Loans means the "Term Loans" under, and as defined in, the Original Credit Agreement.

  • Tranche B Term Loans means Loans made or deemed made by the Tranche B Term Lenders pursuant to Section 2.01(b) or pursuant to Section 1 of the First Amendment to 2009 Credit Agreement.

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

  • Extended Term Loan shall have the meaning assigned to such term in Section 2.21(e).

  • Additional Term Loans means any term loan added pursuant to Section 2.22, 2.23 or 9.02(c)(i).

  • Initial Term Loan shall have the meaning provided in Section 2.1(a).

  • New Term Loan shall have the meaning provided in Section 2.14(c).

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

  • Initial Term Loan Lender means a Lender with an Initial Term Loan Commitment or an outstanding Initial Term Loan.

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

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

  • Tranche A Term Loans means Loans made by the Tranche A Term Lenders pursuant to Section 2.01(a).

  • Maximum Term Loan Amount means Two Hundred Million and No/100 Dollars ($200,000,000).

  • Initial Term Loan Commitment means, in the case of each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(b) as such Lender’s Initial Term Loan Commitment. The aggregate amount of the Initial Term Loan Commitments as of the Closing Date is $820,000,000.

  • Tranche B Term Loan as defined in Section 2.1.

  • Delayed Draw Term Loans has the meaning as set forth in Section 2.5(a).

  • Delayed Draw Term Loan Commitment Termination Date means the earliest to occur of (i) December 31, 2008, (ii) the date the Delayed Draw Term Loan Commitments are permanently reduced to zero pursuant to Section 2.1, and (iii) the date of the termination of the Delayed Draw Term Loan Commitments pursuant to Section 11.1.

  • Total Initial Term Loan Commitment means the sum of the Initial Term Loan Commitments of all Lenders.

  • Other Term Loan Commitments means one or more Classes of term loan commitments hereunder that result from a Refinancing Amendment.

  • New Term Loan Commitments shall have the meaning provided in Section 2.14(a).

  • ABR Term Loan means any Term Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Replaced Term Loans has the meaning assigned to such term in Section 9.02(c).