MOIC Amount definition
MOIC Amount has the meaning assigned to such term in the definition of “Repayment Premium.” For the avoidance of doubt, the MOIC Amount constitutes part of the Secured Obligations under this Agreement and until the MOIC Amount is paid in full, this Agreement shall remain in full force and effect.
MOIC Amount means (x) thea) if no Event of Default shall have occurred and be continuing, at any time prior to December 22, 2022, the amount equal to (1) the product of (x) the Combined DK/Trinity Loan Amount, multiplied by (y) thirty percent (30%), less (2) the amount equal to the sum of (i) all Capitalized PIK (as defined in the 77 Greenwich Mezzanine Loan Agreement) previously paid in cash, paid concurrently with such repayment (whether as interest or principal) or reasonably expected to be paid, (ii) the Commitment Fee (as defined in the Fee Letter (as defined in the 77 Greenwich Mezzanine Loan Agreement)), (iii) all interest payments at the Cash Pay Interest Rate or the PIK Interest Rate previously paid in cash or paid currently with such repayment (whether as interest or principal) by Borrower to the Administrative Agent or the Lenders pursuant to this Agreement, (iv) the Commitment Fee (as defined in the Fee Letter), (v) the amount of the Exit Fee previously paid or paid concurrently with such repayment by Borrower to the Administrative Agent or the Lenders pursuant to this Agreement, and (vi) any Prepayment Premium previously paid or concurrently paid with such repayment by Borrower to the Administrative Agent or the Lenders, multiplied by (3) a fraction, (x) the numerator of which is the Term Loan Commitment (plus the amount of any drawn Incremental Term Advances), and the denominator of which is the Combined DK/Trinity Loan Amount; provided, that notwithstanding anything to the contrary, in connection with payment of the MOIC Amount (as defined herein) or the MOIC Amount (as defined in the 77 Greenwich Mezzanine Loan Agreement), whichever occurs later, the parties to this Agreement and the 77 Greenwich Mezzanine Loan Agreement shall adjust such MOIC Amount (or if none is payable, the applicable party shall make a payment to the applicable payee) so that the MOIC Amount (as defined herein) and the MOIC Amount (as defined in the 77 Greenwich Mezzanine Loan Agreement) actually paid reflects all of the interest and fees actually paid pursuant hereto and pursuant to the 77 Greenwich Mezzanine Loan Agreement or (b) if an Event of Default shall have occurred and be continuing, or from and after December 22, 2022, the Term Loan 19 26203076.▇▇▇▇▇▇▇▇▇▇.8
MOIC Amount has the meaning specified in Section 2.09(a).
Examples of MOIC Amount in a sentence
The Borrower may prepay the Loans, in whole or in part, after giving by 12:00 p.m. (New York City time) three (3) Business Days’ prior written notice to the Administrative Agent stating the proposed date and aggregate principal amount of such prepayment and the MOIC Amount.
More Definitions of MOIC Amount
MOIC Amount means, with respect to any prepayment of outstanding principal of any Loans, in whole or in part, whether voluntarily, involuntarily (including as a result of acceleration as a result of an Insolvency Proceeding or other Event of Default), the positive difference (if any) of (i) the product of (A) the principal amount being prepaid pursuant to such prepayment multiplied by (B) 1.50, less (ii) (A) the principal amount of such prepayment plus (B) the aggregate amount of interest on such prepaid principal amount paid to the Lenders prior to the date of such prepayment (exclusive of any portion of such interest that accrued at the Default Rate), plus (C) the amount of interest on such prepaid principal amount to be paid to the Lenders on the date of such prepayment (exclusive of any portion of such interest that accrued at the Default Rate) plus (D) an amount equal to the product of (x) the total amount of the Closing Fee multiplied by (y) a fraction (expressed as a percentage) having a numerator equal to such prepaid principal amount and a denominator equal to the sum of the principal amount of all Loans made on or prior to the date of such prepayment.
MOIC Amount means, with respect to any repayment or prepayment of the Loans under Section 3.02, an amount equal to the excess (if any) of (a) the MOIC Base Amount over (b) the sum of (i) the principal amount of the Loans being repaid or prepaid, (ii) the aggregate principal amount of the Loans repaid or prepaid plus any MOIC Amount previously paid prior to the date of such repayment or prepayment, (iii) all interest paid as of the date of such repayment or prepayment (including any interest amounts to be paid in connection with such repayment or prepayment) and (iv) the fee paid in cash or original issue discount on the Funding Date pursuant to the Lender Fee Letter or hereunder, to the extent actually received by the Lender, and not voided, excluded or disallowed, on or prior to or as of the Repayment Date or the Prepayment Date.
MOIC Amount have the meanings given to such terms in Section 3.04(d).
MOIC Amount has the meaning set forth in the Term Loan Credit Agreement.
MOIC Amount means, as of any date of determination, (a) with respect to the Bridge Loans, the product of (i) 0.95 multiplied by (ii) the sum of (A) the aggregate initial amount of the Bridge Loan Commitments as of the Third Amendment Effective Date plus (B) the amount of Bridge Loan PIK Interest capitalized and added to the principal amount of the Bridge Loans on or prior to such date plus (C) the accrued and unpaid interest on the Bridge Loans as of such date that has not been capitalized and added to the principal amount of the Bridge Loans on or prior to such date; provided that if any MOIC Amount with respect to the Bridge Loans becomes a MOIC Liquidation Amount, such MOIC Amount shall be recalculated with the amount under clause (ii)(A) above being based on the then outstanding aggregate principal amount of Bridge Loans as of the date that such Event of Default pursuant to Section 8.01(f) occurs; and (b) with respect to the Dollar Term Loans, the product of (i) 0.95 multiplied by (ii) the sum of (A) the aggregate principal amount of the Dollar Term Loans as of such date, plus (B) the accrued and unpaid interest on the Dollar Term Loans as of such date.
MOIC Amount means, with respect to any MOIC Event, an amount that is paid to Lenders sufficient to cause the Lenders to achieve a MOIC of 1.35:1.00. “MOIC Event” means the occurrence of any of the following: (a) any voluntary payment resulting in the partial or full prepayment of the Loans pursuant to Section 2.04(b), (b) any mandatory prepayment or mandatory offer of prepayment resulting in the partial or full prepayment of the Loans pursuant to Section 2.04(c), or (c) any acceleration of all Loans. “Mortgage” means each deed of trust made by the Borrower in favor of, or for the benefit of, the Collateral Agent for the benefit of the Secured Parties, substantially in the form of Exhibit E. “Mortgaged Property” or “Mortgaged Properties” means the real property in Snyder, Scurry County, Texas identified as the “Property” in the Site Agreement and identified in Schedule 1.01, attached hereto and made a part hereof, together with any after acquired real property, as to which the Collateral Agent for the benefit of the Secured Parties shall be granted a Lien pursuant to the provisions of Section 5.10 or Section 5.17(a) or of this Agreement. For the avoidance of doubt, after acquired Property interests shall not be considered Mortgaged Property until such time as the Borrower actually acquires such after acquired Property interests and same are subjected to the Lien of a Mortgage pursuant to Section 5.10.
MOIC Amount means, as of any date of determination and with respect to any repayment, prepayment or acceleration of any Delayed Draw Term Loan, an amount equal to the positive difference of (a) the product of (i) the MOIC Applicable Margin multiplied by (ii) the principal amount of the Delayed Draw Term Loan (other than (x) any original issue discount charged in connection therewith and (y) PIK Interest that has accrued as of such date of determination) subject to the applicable repayment, prepayment or acceleration and (b) the cumulative amount of all payments (including interest (whether in cash or PIK Interest), any original issue discount and the Exit Fee but excluding principal payments) the Lenders have received with respect to such principal amount of the Delayed Draw Term Loan subject to the applicable repayment, prepayment or acceleration on or prior to such date of determination. For the avoidance of doubt and notwithstanding the foregoing, the consummation of the Fifteenth Amendment Transactions (including, without limitation the OC III Delayed Draw Term Loan Conversion and the Dialectic Convertible Notes Exchange) shall not constitute a repayment, prepayment or acceleration of any Delayed Draw Term Loan, and no MOIC Amount shall be payable in connection therewith.