New First Lien Term Loan definition

New First Lien Term Loan means the first lien term loan facility, the terms of which shall be set forth in the New First Lien Term Loan Agreement, which (a) shall be in the original principal amount of $100,000,000 or such other amount as agreed to by the Debtors and the Investor Parties as set forth in the Stock Purchase Agreement, (b) be funded by the New First Lien Lenders on the Effective Date, and (c) be otherwise on terms reasonably acceptable to the Debtors and the Investor Parties as set forth in the Stock Purchase Agreement.

New First Lien Term Loan shall have the meaning set forth in the Plan.

New First Lien Term Loan means that certain term loan facility, consisting of Tranche A, Tranche B and Tranche C, that PES Holdings will incur on the Effective Date, on terms consistent with the New First Lien Term Loan Term Sheet and reasonably acceptable to the Required Consenting Cash Flow Creditors as set forth in the Restructuring Support Agreement.

Examples of New First Lien Term Loan in a sentence

• On the Effective Date, in full and final satisfaction of and in exchange for each Allowed DIP Facility Claim, each Holder of an Allowed DIP Facility Claim shall receive its Pro Rata share of: (1) Tranche A of the New First Lien Term Loan; and (2) 2.5% of the New Equity in the form of New Class A Common Stock, subject to dilution by the Management Incentive Plan.

• On the Effective Date, without any requirement of further action by security holders or directors of the Debtors, each of the Reorganized Debtors shall be authorized to enter into the New First Lien Term Loan Agreement, as well as any notes, documents or agreements in connection therewith, including, without limitation, any documents required in connection with the creation or perfection of the liens on collateral securing the New First Lien Term Loan.

• In full satisfaction, settlement, release and discharge of the Allowed DIP Claims, on the Effective Date, all Allowed DIP Claims shall be paid in full in Cash on the Effective Date from the proceeds of the New First Lien Term Loan.

• The Plan Distributions to be made in Cash under the terms of this Plan shall be funded from: (a) the Debtors’ Cash on hand as of the Effective Date; (b) the proceeds of the New First Lien Term Loan Facility; (c) the proceeds of the Rights Offerings; (d) the proceeds of the New ABL Facility and (e) the proceeds of the Incremental Facility, to the extent necessary.

• Any portion of the New First Lien Term Loan A-2 Tranche received that is attributable to accrued but untaxed interest will have an initial tax basis in a U.S. Holder’s hands equal to such accrued interest and a holding period that begins the day following the Effective Date.

More Definitions of New First Lien Term Loan

New First Lien Term Loan means the first lien term loan facility provided under the New First Lien Term Loan Agreement, the terms of which shall be set forth in the New First Lien Term Loan Agreement, and which first lien term loan facility shall (a) mature on the date that is three (3) years after the Effective Date, (b) be in the original principal amount of $85,000,000 plus in-kind interest accrued under the DIP Loan, if any, and (c) be funded by the New First Lien Lenders on the Effective Date.

New First Lien Term Loan means the $125 million first lien term loan credit facility, which will have the terms set forth in the New First Lien Term Loan Documents and shall be distributed to Holders of First Lien Term Loan Claims Pro Rata in partial satisfaction of and on account of their First Lien Term Loan Claim.

New First Lien Term Loan means that certain $60 million first lien term loan credit facility between the Reorganized Debtors and the Prepetition Term Lenders as set forth in the New First Lien Term Loan Documents.

New First Lien Term Loan means the new term loan credit facility in the approximate amount of $483 million made available to Reorganized MACH Gen pursuant to the New First Lien Facilities Documents.

New First Lien Term Loan means the loan evidenced by the New First Lien Term Loan Agreement.

New First Lien Term Loan has the meaning set forth in the Recitals.

New First Lien Term Loan means a first priority senior secured term loan in the amount of$200 million pursuant to the New First Lien Term Loan Credit Agreement.