New Money Commitment definition

New Money Commitment means, with respect to each New Money Lender, the commitment of such New Money Lender to make New Money Loans hereunder in an aggregate principal amount at one time outstanding not to exceed the amounts set forth opposite such New Money Lender’s name on Schedule 2.01, as such commitment may be (a) modified from time to time pursuant to assignments by or to such New Money Lender pursuant to Section 9.06, or otherwise, or (b) terminated in accordance with the terms of this Agreement.

New Money Commitment means, individually or collectively, as the context may require, the Initial Commitment and the Delayed Draw Commitment.

New Money Commitment means as to each Lender, its obligation to make a New Money Loan to Borrowers hereunder, expressed as an amount representing the maximum principal amount of New Money Loans to be made by such Lender under this Agreement, as such commitment may be reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to an Assignment and Assumption substantially in the form of Exhibit A hereto. The amount of each Lender’s New Money Commitment is set forth on Schedule 2.01 under the caption “New Money Loans” or, otherwise, in the Assignment and Assumption pursuant to which such Lender shall have assumed its New Money Commitment, as the case may be. The aggregate amount of the New Money Commitments on the date hereof is $150 million.

Examples of New Money Commitment in a sentence

• SAEs with a reasonable causal relationship to the study interventions and associated medications will be reported as "related." A definite causal relationship does not need to be established.

• On the Effective Date, the New Money Commitment Parties shall provide the Debtors or Reorganized Debtors, as applicable, with the New Money Investment, the terms of which shall be consistent with the Convertible Preferred Equity Purchase Agreement.

• All such fees shall be invoiced to the Ad Hoc Group or one or more of the HoldCo Group Parties, as applicable, and paid (or caused to be paid) by the Company from the proceeds of the New Money Commitment.

• The Borrower agrees to pay to the Administrative Agent for the account of each Lender a commitment fee, which shall accrue at the Commitment Fee Rate on such Lender’s Applicable Percentage of the average daily unused amount of the New Money Commitment in effect on such day during the period from and including the date of this Agreement to but excluding the Termination Date.

• Consummation of the Restructuring Transactions through the Plan will: (a) reduce the Debtors’ total funded debt by more than$1.1 billion, through partial equitization of the First Lien Secured Claims and full equitization of the Second Lien Secured Claims; and (b) provide the Debtors with $100 million of new equity capital from the New Money Commitment Parties, in exchange for the Reorganized Debtors’ issuance of the New Money Convertible Preferred Equity to such parties.

More Definitions of New Money Commitment

New Money Commitment means the commitments of the Consenting Parties set forth on Schedule 2 hereto to fund the New Money First Lien Indenture on the Closing Date, subject to the terms and conditions of this Agreement.

New Money Commitment means an amount equal to (a) the New Money Facility minus(b) the face amount of the Roll-Up Letters of Credit deemed issued on the Effective Date. “New Money Facility” means an amount equal to $150,000,000.

New Money Commitment means, in the case of each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(b) under the caption “New Money Commitment” as such Lender’s New Money Commitment. The aggregate amount of the New Money Commitments as of the Closing Date is $50,000,000.

New Money Commitment means an amount equal to (a) the New Money Facility minus (b) the face amount of the Roll-Up Letters of Credit deemed issued on the Effective Date.

New Money Commitment means Lender's New Money Interim Commitment and its New Money Final Commitment. The aggregate amount of the New Money Commitment as of the Closing Date is $5,000,000.

New Money Commitment as defined in definition of “Commitment”.

New Money Commitment means the commitment to loan an amount equal to the sum of (i) the aggregate principal amount of Liquidity Facility Debt (inclusive of the Additional Liquidity Facility Amount) as of ten days prior to the Restructuring Effective Date (or such other date as may be agreed upon by the Company and the Majority Participating Lenders (each acting reasonably)) (the “Converted Liquidity Facility Debt”) (which Converted Liquidity Facility Debt shall be converted to New First Out Term Loans) and (ii) an amount in cash equal to $125.5 million, minus (1) the amount of the Converted Liquidity Facility Debt and (2) the New Term Loan OID. The New Money Commitment shall be backstopped (the “New Money Backstop”) by the New Money Backstop Parties (as defined herein) in accordance with the backstop allocations set forth in the Backstop Agreement in exchange for a pro rata share of 5.0% of the Reorganized syncreon Equity, subject to dilution by the Warrants and the MEIP, in consideration for, among other things, the New Money Backstop, entering into the Liquidity Facility Agreement, and making the Additional Liquidity Facility Amount available (the “New Money Backstop Payment”). The administrative agent for the New First Out Term Loan, or another fronting bank acceptable to the Ad Hoc Group, shall season the loans in respect of the New First Out Term Loan for certain members of the Ad Hoc Group that request such seasoning. The Pledged Incremental Coupon Loans shall be included in the calculation of the New Money Backstop allocations, the Liquidity Loan Amendment Payment, and the Liquidity Loan Forbearance Payment as if such Pledged Incremental Coupon Loans were owned by the Revolving Lenders. “New Money Backstop Party” means a member of the Ad Hoc Group that agrees to provide the New Money Backstop. All PCF Lenders shall be given the opportunity to participate in the New Money Commitment (but excluding, for the avoidance of doubt, any amounts in respect of the Existing Liquidity Loans and the Initial Additional Liquidity Draw) (each such PCF Lender, a “New Money Participating Lender”) on a pro rata basis (calculated as the proportion of (i) the principal amount of PCF Debt held by such New Money Participating Lender to (ii) the aggregate principal amount of PCF Debt held by each of the New Money Participating Lenders, including the New Money Backstop Parties), provided that a PCF Lender must deliver (x) to the extent such PCF Lender is not already a Participating PCF Lender, ...