Last Out Term Loan definition

Last Out Term Loan means the first lien last out term loan issued or deemed issued pursuant to the Plan, (a) the terms of which do not provide for any scheduled repayment, mandatory repayment or sinking fund obligation prior to the latest of (i) the 365th day after the Commitment Termination Date and (ii) the scheduled maturity date of the Last Out Notes, other than customary offers to purchase upon a change of control, asset sale or casualty or condemnation event and customary acceleration rights following an event of default, (b) the covenants, events of default, guarantees, collateral requirements, and other terms of which (other than interest rate, fees, funding discounts and redemption or prepayment premiums and other pricing terms determined by the Borrowers to be “market” rates, fees, discounts, and other premiums at the time of issuance or incurrence of any such term loan), taken as a whole, are not more restrictive or burdensome than those set forth in the credit agreement governing the Credit Facility and the other Credit Documents and do not contain any financial ratio that is more restrictive in respect of the corresponding ratio in the Credit Facility or that is not contained in the Credit Facility, (c) in respect of which no Subsidiary of the Company (other than the Borrowers and Guarantors) is an obligor, (d) the terms of which do not restrict the ability of the Borrowers or any of their Restricted Subsidiaries from amending, modifying, restating, or otherwise supplementing the credit agreement governing the Credit Facility or the other Credit Documents, except as permitted by the First Out/Last Out Intercreditor Agreement or another applicable intercreditor agreement in form and substance satisfactory to the Administrative Agent, (e) the terms of which do not restrict the ability of the Company or any of its Subsidiaries to guarantee the Obligations or to pledge assets as collateral security for the Obligations, (f) the terms of which do not prohibit the repayment or prepayment of the Loans, and (g) which are subject to the First Out/Last Out Intercreditor Agreement or another intercreditor agreement in form and substance satisfactory to the Administrative Agent.
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Last Out Term Loan means the term loans deemed made by the Lenders to the Borrower pursuant to clause (i) of Section 2.01(b).
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Last Out Term Loan has the meaning specified therefor in Section 2.2 of the Agreement.
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Examples of Last Out Term Loan in a sentence

  • On the Effective Date, all Prepetition Loan Deficiency Claims on account of Allowed Senior First Out Term Loan Claims, Allowed Senior Last Out Term Loan Claims, and the Holdco Loan Claims shall be waived and released and shall not participate in any distributions from the GUC Recovery Trust.

  • The Prepetition Agent and the Prepetition Lenders shall not be required to file proofs of Claim on account of any Senior Last Out Term Loan Claims.

  • Each Loan Party and each Last-Out Term Lender agree and acknowledge that the Loan Parties shall not exercise their option to make cash payments of interest in respect of the Last Out Term Loan at any time during the Availability Modification Period.

  • There is also a separate loan agreement with Great American Capital Partners (“GACP”), where GACP provided a First In Last Out Term Loan (“FILO Term Loan”) within the Wells Fargo Credit Facility in the amount of $20,000,000, and inclusive in the $237,000,000 total amount.

  • Riley agreed to purchase from B&W all shares of common stock in the 2019 Rights Offering that were not subscribed to by other B&W stockholders or exchange an equal amount of the outstanding principal amount of the Tranche A-2 or A-3 Last Out Term Loans; and (5) an exchange of Vintage’s existing Tranche A-1 Last Out Term Loan for shares of common stock at a price of $0.30 per share (together, the “2019 Transactions”).

  • Riley’s $150 million Tranche A-3 Last Out Term Loan and $15 million credit facility to B&W; (2) the issuance to B.

  • The Collateral (as defined below) will be created under, and governed by, the same collateral documents as the Last Out Term Loan, the Last Out Notes, and (if any) the Last Out Incremental Debt, subject to any local law requirements.

  • Cumulative debt repayments, inclusive of accrued but unpaid interest, of $210.7 million were paid in conjunction with the close, which consisted of a $75.3 million repayment of the First Out Term Loan, $61.7 million repayment of the Last Out Term Loan, a $50.0 million payment used to retire the non-converting portion of the Senior Secured Subordinated Promissory Note, a $16.3 million repayment of the 8090 FV Subordinated Promissory Note, and $7.4 million repayment of the 2021 Seller Notes.

  • No Lender shall be obligated to advance any portion of the Last Out Term Loan in an aggregate amount equal to $15,000,000 unless and until Agent and GECMG shall have syndicated such portion of the Last Out Term Loan to the Agent’s satisfaction in its sole discretion.

  • Lay out plan providedYes/No2Area of head works proposed3List of units proposed4Type of Clarifier Proposed5Type of Filter Proposed6Head Loss from inlet chmber to clear wáter annel Description of Proposed Water Treatment Plant: Bidder will describe the proposed wáter tretment method, expected results and requirements of operation and maintenance in sufficient details so that employer can assess the suitability of the bidders proposal.


More Definitions of Last Out Term Loan

Last Out Term Loan has the meaning ascribed to it in Section 1.1(c)(i).
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Last Out Term Loan means the Last Out Term Loan C tranche under the First Lien Term Loan Agreement in the aggregate principal amount of $125 million plus any interest thereon paid-in-kind.
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Related to Last Out Term Loan

  • Tranche B Term Loan as defined in Section 2.1.

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

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

  • Tranche A Term Loan as defined in Section 2.1.

  • Tranche C Term Loan as defined in Section 2.1.

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

  • Base Rate Term Loan means any portion of the Term Loan during any period in which it bears interest based on the Base Rate.

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

  • LIBOR Term Loan means any Term Loan bearing interest at a rate determined by reference to the LIBOR Rate.

  • 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.

  • Initial Term Loan Repayment Amount shall have the meaning provided in Section 2.5(b).

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

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

  • Adjusted Total Term Loan Commitment means at any time the Total Term Loan Commitment less the Term Loan Commitments of all Defaulting Lenders.

  • Delayed Draw Term Loan has the meaning specified in Section 2.01(b).

  • Latest Term Loan Maturity Date means, at any date of determination, the latest maturity or expiration date applicable to any Term Loan hereunder at such time, including the latest maturity or expiration date of any New Term Loan or any Extended Term Loan, in each case as extended in accordance with this Agreement from time to time.

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

  • Extended Term Loan Repayment Amount shall have the meaning provided in Section 2.5(c).

  • 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.

  • Replacement Term Loans shall have the meaning provided in Section 13.1.

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

  • New Term Loan Repayment Amount shall have the meaning provided in Section 2.5(c).

  • Tranche A Term Loan Commitment means the commitment of a Lender to make a Tranche A Term Loan to Company pursuant to subsection 2.1A(i), and "Tranche A Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Additional Term Loan has the meaning specified in Section 2.01(c).