Maximum First Lien Principal Amount the sum of (a) the excess of (x) $71,500,000 plus an amount equal to 110% of the principal amount of all Incremental Revolving Loan Commitments (as defined in the First Lien Loan Agreement on the date hereof) established and 110% of the principal amount of all Incremental Term Loans (as defined in the First Lien Loan Agreement on the date hereof) made and 110% of the principal amount of all DDTLs (as defined in the First Lien Loan Agreement on the date hereof) made, in each case under the First Lien Loan Agreement as in effect on the date hereof over (y) the sum of (1) principal payments applied to term loans under the First Lien Loan Agreement that are First Lien Obligations, (2) permanent reductions of commitments under the revolving credit facility provided for in the First Lien Loan Agreement (excluding any permanent reductions in such commitments resulting from the commencement of any Insolvency Proceeding or resulting from the exercise by any or all of the First Lien Creditors of their right to reduce or terminate such commitments following the occurrence and during the continuance of any First Lien Default), so long as the principal amount of any revolving credit loans in excess of the revolving credit commitments as so reduced, and accrued, unpaid interest thereon, have been paid in full, excluding, in the case of (1) and (2) above, reductions resulting from a Refinancing or a “roll-up” of such Obligations in connection with a DIP Financing that is otherwise permitted in accordance with the terms of this Agreement, plus (b) amounts in respect of interest, fees, costs and premium (if any), in each case above accruing in respect of or attributable to, but only accruing in respect of or attributable to, the aggregate principal amount of the First Lien Obligations (including the undrawn amount of all Letters of Credit constituting First Lien Obligations and the aggregate original principal amount of any term loan that is a First Lien Obligation) at any one time not to exceed the amount referred to in clause (a) above, in each case that have been paid in-kind or capitalized plus (c) Obligations owing by Obligors to the First Lien Creditors under Cash Management Agreements (provided that the amount of such Obligations under such Cash Management Agreements at no time exceeds $500,000) or Secured Hedge Agreements.
Maximum First Lien Principal Amount means the Maximum ABL First Lien Principal Amount plus the Maximum Floor Plan First Lien Principal Amount.
Maximum First Lien Principal Amount set forth in Section 1.1 of the Intercreditor Agreement is hereby amended and restated in its entirety to read as follows:
Examples of Maximum First Lien Principal Amount in a sentence
To the extent, but only to the extent, permitted by the provisions of each of the Debt Documents, any Obligor may incur or issue and sell one or more series or classes of Additional Debt; provided that the principal amount of Additional Debt outstanding or permitted to be borrowed or incurred shall not exceed the Maximum First Lien Principal Amount or the Maximum Second Lien Principal Amount, as applicable.
More Definitions of Maximum First Lien Principal Amount
Maximum First Lien Principal Amount in Section 1 of the Intercreditor Agreement is hereby deleted and replaced with: “(a) $536,295,498, plus”
Maximum First Lien Principal Amount means the original issue price of the Series B Notes, less principal payments received, plus the amount of interest paid in kind or otherwise capitalized, plus, in the event any DIP Financing is provided, an incremental amount equal to $5,000,000.
Maximum First Lien Principal Amount means the sum of (i) $95,697,308, plus (ii) that principal amount (not to exceed $25,000,000) advanced and then outstanding under the 2014 First-Lien Purchase Agreement.
Maximum First Lien Principal Amount means, as of any date of determination, (a) the greater of (I) $50,000,000 minus the aggregate amount of all proceeds from asset sales that are applied to repay permanently principal of loans under the First Lien Loan Agreement and, in the case of any such repayment of revolving loans, effect a corresponding and permanent reduction of commitments under the First Lien Loan Agreement and (II) the principal amount of Indebtedness permitted to be incurred in reliance on clause (1) of the definition of Permitted Debt under (and as defined in) the Initial Second Lien Indenture (as in effect on the date hereof (which, in either such event may be advanced prior to any Insolvency Proceeding and/or as a component of a DIP Financing), plus (b) Hedging Obligations, interest, fees, costs, expenses, indemnities and other amounts (other than principal and drawings or payments in respect of letters of credit, bankers’ acceptances and similar extensions of credit) payable pursuant to or secured under the terms of the First Lien Documents as in effect on the date hereof, or as amended, restated, supplemented, modified, replaced, substituted or renewed from time to time in accordance with this Agreement, whether or not the same are added to the principal amount of the First Lien Obligations and including the same as would accrue and become due but for the commencement of an Insolvency Proceeding, whether or not such amounts are allowed or allowable in whole or in part in any such Insolvency Proceeding.
Maximum First Lien Principal Amount and in Section 6.01(a)(ii) (and modifications to related definitions) to include such Additional First Lien Obligations in such cap limitations in a manner that is substantially identical to the treatment hereunder of the First Lien Loan Document Obligations and the First Lien Secured Obligations); and
Maximum First Lien Principal Amount means $341,000,000. The Maximum First Lien Principal Amount shall be reduced by the principal amount of First Lien Indebtedness constituting First Lien Claims (excluding Cash-Collateralized Credit Support, Credit Facility Hedging Obligations, Credit Facility Cash Management Obligations and any capitalization of interest and fees on such principal amount that did not initially exceed the Maximum First Lien Principal Amount) that has been satisfied using funds that were obtained pursuant to an enforcement action in accordance with Section 3 of the Intercreditor Agreement.
Maximum First Lien Principal Amount as of any date of determination, the greater of (A) US$663,635,732 and (B) an amount equal to the principal amount of First Lien Obligations not prohibited to be incurred under any First Lien Debt Agreement and Second Lien Debt Agreement as in effect on the date hereof. For purposes of calculating the principal amount outstanding under any First Lien Debt Agreement, the amount of any original issue discount, premiums and other amounts (other than interest and expenses), shall be deemed to be principal amounts and, for the avoidance of doubt, any interest paid in kind or capitalized that is not prohibited hereunder shall not be deemed to be principal amounts.