Lender Paydown definition

Lender Paydown means the product of (a) $305,195,000 in Cash minus the amount of any Glasscock Sale Proceeds paid to the Holders of Lender Claims on account thereof on or prior to the Effective Date (such $305,195,000, as the same may be so reduced, the “Net Cash Payment”); multiplied by (b) the Option 1 Participation Percentage minus (c) the amount of $31,250,000 in Cash actually received by the Administrative Agent for the Exit Term A Loans for the purchase of $31,250,000 in principal amount of Exit Term A Loans on the Effective Date, which $31,250,000 shall be retained by the Lenders that have elected Option 1.
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Lender Paydown means $305,195,000 in cash: (a) minus the amount of any Xxxxxxxxx Sale Proceeds paid to the holders of RBL Claims on account thereof on or prior to the Effective Date (such $305,195,000, as the same may be so reduced, the “Net Cash Payment”); and (b) minus (i) the aggregate amount of the Net Cash Payment the Option 2 RBL Lenders would have received had all such RBL Lenders elected Option 1 and (ii) the amount of $31,250,000 in cash actually received by the RBL Agent under the RBL for the purchase of $31,250,000 in principal amount of Term Facility A by certain Senior Note Backstop Parties on the Effective Date, which $31,250,000 shall be retained by the RBL Lenders that have elected Option 1.
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Lender Paydown means $305,195,000 in cash: (a) minus the amount of any Xxxxxxxxx Sale Proceeds paid to the holders of RBL Claims on account thereof on or prior to the Effective Date (such $305,195,000, as the same may be so reduced, the “Net Cash Payment”); and (b) minus (i) the aggregate amount of the Net Cash Payment the Option 2 RBL Lenders would have received had all such RBL Lenders elected Option 1 and (ii) the amount of $31,250,000 in cash actually received by the RBL Agent under the RBL for the purchase of $31,250,000 in principal amount of Term Facility A by certain Senior Note Backstop Parties on the Effective Date, which $31,250,000 shall be retained by the RBL Lenders that have elected Option 1. “Option 2 Pro Rata Share” means the proportion that the amount of an RBL Claim held by an RBL Lender that elects Option 2 bears to the aggregate amount of the RBL Claims held by all the RBL Lenders that elect Option 2. “Revolving Facility” means the Revolving Facility to be entered into on the Plan Effective Date by the RBL Lenders that have elected Option 1, having the terms set forth on Annex A to this Plan Term Sheet. It is understood that if all RBL Lenders elect Option 1, the Revolving Facility shall be in the aggregate committed amount of $850 million, which amount shall be deemed fully drawn as of the Plan Effective Date (prior to giving effect to any mandatory prepayments on account of the anti-hoarding covenant in the Revolving Facility), and if any RBL Lenders elect Option 2, such $850 million amount shall be reduced dollar for dollar by the commitment that would otherwise have been attributable to such Option 2 RBL Lenders had they elected Option 1. “Term Facility A” means the Term Facility to be entered into on the Plan Effective Date by the RBL Lenders that have elected Option 1, having the terms set forth on Annex A to this Plan Term Sheet. It is understood that if all RBL Lenders elect Option 1, the principal amount of the Term Facility A shall be in the aggregate amount of $125 million, and if any RBL Lenders elect Option 2, such $125 million amount shall be reduced dollar for dollar by the amount of such $125 million that would otherwise have been attributable to Option 2 RBL Lenders had they elected Option 1. Contemporaneously with the issuance of the Term Facility A, certain Consenting Senior Note Holders will, pursuant to the Backstop Commitment Agreement, purchase in cash, and the RBL Lenders that have elected Option 1 will sell, $31.25 million in...
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Examples of Lender Paydown in a sentence

  • Accordingly, when combined with the Berry Lender Paydown, the Berry Exit Facility significantly deleverages the Berry Debtors and creates a reorganized entity capable of successfully emerging from chapter 11.

  • The New Investment will be made by the Participating Allowed Class 4 Claim Holders who choose to participate in the New Investment by exercising their Subscription Rights and will consist of $50.0 million in Cash which will be used to fund the Senior Lender Paydown on the Effective Date in accordance with the Bank Term Sheet.

  • Including systems such as waste monitoring and on-site sorting for recycling.In addition, HNZC specified a number of waste management minimisation and management targets for the project.

  • For instance, the First Prepetition LINN Lender Paydown served as consideration for an amendment to the LINN Debtors’ First Lien Credit Agreements after a technical default by the LINN Debtors in March 2016 and afforded the LINN Debtors time to negotiate a comprehensive restructuring transaction prior to the Petition Date (i.e., the Bank RSA).

  • For the avoidance of doubt, a Holder electing Option 2 shall not receive any portion of the Lender Paydown, Exit Revolving Loans, or Exit Term A Loans.

  • Accordingly, the First Prepetition LINN Lender Paydown and the Second Prepetition LINN Lender Paydown allowed the LINN Debtors to avoid the value destruction that likely would have resulted from a chapter 11 filing in the absence of an agreement with the LINN Lenders.

  • Rather, each Holder electing Option 2 shall receive only its Option 2 Pro Rata Share of the Exit Term B Loans in a principal amount equal to the Pro Rata distribution it otherwise would have received with respect to the Lender Paydown, Exit Revolving Loans, and Exit Term A Loans.

  • If this is not possible, information about Teamwork could also be obtained during interviews and workshops.

  • It includes grains large enough to be in thermal equilibrium with the environment.

  • Option 1: If the Holder elects (or is deemed to elect, upon its execution of the Exit Facility Credit Agreement) Option 1 on its Ballot, it shall also receive its Option 1 Pro Rata Share of: (i) the Lender Paydown; (ii) the Exit Revolving Loans; and (iii) the Exit Term A Loans -or- Option 2: If such Holder elects Option 2 on its Ballot, it shall also receive its Option 2 Pro Rata Share of the Exit Term B Loans.


More Definitions of Lender Paydown

Lender Paydown means the product of (a) $305,195,000 in Cash minus the amount of any Glasscock Sale Proceeds paid to the Holders of Lender Claims on account thereof on or prior to the Effective Date (such $305,195,000, as the same may be so reduced, the “Net Cash Payment”); multiplied by (b) the Option 1 Participation Percentage minus (c) the amount of
Sample 1

Related to Lender Paydown

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • Funding Lender means Citibank N.A., a national banking association, and any successor under this Funding Loan Agreement and the Borrower Loan Documents.

  • Mandatory Prepayments means the prepayments of the Loans required by Section 3.5 hereof.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • Waivable Mandatory Prepayment as defined in Section 2.15(c).

  • Letter of Credit Usage means, as of any date of determination, the aggregate undrawn amount of all outstanding Letters of Credit.

  • Mandatory Prepayment is defined in Section 2.4(a).

  • Mandatory Prepayment Amount for any Debentures shall equal the sum of (i) the greater of: (A) 130% of the principal amount of Debentures to be prepaid, plus all accrued and unpaid interest thereon, or (B) the principal amount of Debentures to be prepaid, plus all other accrued and unpaid interest hereon, divided by the Conversion Price on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is less, multiplied by the VWAP on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is greater, and (ii) all other amounts, costs, expenses and liquidated damages due in respect of such Debentures.

  • Advances Outstanding On any day, the aggregate principal amount of all Advances outstanding on such day, after giving effect to all repayments of Advances and the making of new Advances on such day.

  • Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Agent Advances has the meaning set forth in Section 2.3(e)(i).

  • Revolving Facility Lender means a Lender (including an Incremental Revolving Facility Lender) with a Revolving Facility Commitment or with outstanding Revolving Facility Loans.

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Borrower Loan means the mortgage loan made by the Governmental Lender to the Borrower pursuant to this Borrower Loan Agreement, in the maximum principal amount of the Borrower Loan Amount, as evidenced by the Borrower Note.

  • Credit Limit means the total dollar amount of the Account which we approved and which you may borrow against according to the terms of this Agreement.

  • First Lien Loans means the loans made under the First Lien Credit Agreement.

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

  • Administrative Advance shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Loan repayment means the cancellation and repayment of loans

  • Impacted Lender means a Defaulting Lender or a Lender as to which (a) the Administrative Agent or L/C Issuer has a good faith belief that such Lender has defaulted in fulfilling its obligations under one or more other syndicated credit facilities or (b) an entity that controls such Lender has been deemed insolvent or become the subject of a bankruptcy or insolvency proceeding.