Examples of LBO Lenders in a sentence
Because the Subsidiary Guarantors had not guaranteed the Bond Debt, these Subsidiary Guarantees ensured that the LBO Lenders would be paid in full before the bondholders could receive any payments derived from the value at the Subsidiary Guarantors.
As a result, by causing the Subsidiary Guarantors to enter into the Subsidiary Guarantees, the Company effectively transferred the value of the Company’s equity interest in the Subsidiary Guarantors to the LBO Lenders.
That new debt was guaranteed by most of Tribune’s subsidiaries (the “Subsidiary Guarantors”), thereby ensuring that the LBO Lenders would be paid before the Company’s existing creditors in the event of a bankruptcy.
The Lead Banks also took other steps that were intended to make it more difficult for the Company’s non-LBO lenders to share equally with the LBO Lenders in any bankruptcy recoveries.
Does 1-100 (the “Additional Parties”) are LBO Lenders presently unknown to the Committee.
After the graduation in 2017, Luka returned to Croatia where he settled and started working in the architecture firm owned by his father.
Thus, the entirety of the LBO Debt—and then some—was used to pay Tribune’s shareholders,LBO advisors, LBO Lenders, and management, and left Tribune saddled with nearly $2.8 billion of pre-LBO debt, plus $10.7 billion of new LBO Debt.
As a result, the Company effectively transferred the value of the Company’s equity interest in the Guarantors to the LBO Lenders (the “Step One Equity Value Transfers”), by putting the rights of the LBO Lenders as creditors of the Guarantors ahead of the Company’s rights as shareholder of the Guarantors.
The Incremental Facility funding was provided through a series of “Increased Joinders” executed on or about December 20, 2007, by which various LBO Lenders added this funding to the Tranche B Facility originated in the Step One Financing.
On March 28, 2007, for example, a senior JPM employee wrote in an internal e-mail that he was concerned about the structure of the LBO Debt because the LBO Lenders would not be entitled to “post [bankruptcy] petition interest.” He added that “I’ve told the team I’m not comfortable approving the new structure for the reasons cited but would understand if Senor Mangement [sic] wanted to do this to further the Zell relationship [sic].