Examples of New Money Loans in a sentence
Such conversion (or “roll-up”) shall be authorized as compensation for, in consideration for, and solely on account of, the Prepetition First Lien Lenders that are also DIP Lenders or affiliates thereof to fund the New Money Loans and not as payments under, adequate protection for, or otherwise on account of, any Prepetition Obligations.
Each Borrowing of New Money Loans shall be made upon the Borrowers’ irrevocable written notice, on behalf of the Borrowers, to the Lender.
Upon entry of this Interim Order, the DIP Borrower is hereby authorized to borrow, and the DIP Guarantors are hereby authorized to guaranty, borrowings up to an aggregate principal amount of $70,000,000 of DIP Loans (inclusive of the Roll-Up Loans described in paragraph (c) below), with $35,000,000 of New Money Loans available to be drawn on an interim basis, subject to and in accordance with this Interim Order, without any further action by the Debtors or any other party.