Examples of GACP Term Loan in a sentence
The PNC Credit Facility, which included CIBC Bank USA (formerly known as The Private Bank) as part of the facility, provided a revolving line of credit of $ 70,000 and provided for a term loan on which the Company had originally drawn to fund improvements at the Company’s distribution facility in Bowling Green, Kentucky and subsequently to pay down the Company’s previously outstanding GACP Term Loan (as defined below).
The GACP Term Loan Agreement provided a $200 million term loan with an original maturity date of January 3, 2023.
A variation on this design is the cone inlet with removable orifice plug allowing simple cleaning of the inlet to remove silt and marine growth and also experimentation with the size of orifice.
Upon information and belief, the Debtors used all or substantially of the proceeds of the GACP Term Loan Agreement to pay down the Prepetition ABL Lenders.
The Debtors have stipulated, among other things, to the validity, perfection, priority and unavoidability of the GACP Secured Parties’ liens and the obligations under the GACP Term Loan Agreement.do.
The Debtors are the Credit Parties under the GACP Term Loan Agreement.
As a result of the Debtors’ prepetition defaults, the Debtors no longer have that ability under the GACP Term Loan Agreement.
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The Borrowers have informed the Agent and the Lenders of their intention to enter into a Term Loan Credit and Security Agreement with GACP Finance Co., LLC, as agent, and each lender party thereto (collectively, the “GACP Term Loan Lender”) in an amount not to exceed $17,000,000 and to grant GACP Term Loan Lenders a security interest in certain Collateral of the Borrowers (the “GACP Term Loan Debt”).
At the time the GACP Term Loan was executed, just 18 months ago, the Equipment was appraised at approximately $700 million.