New Revolving Loan Facility means the new senior secured credit facilit(ies) in an aggregate principal amount that is not anticipated to be more than $30 million, which the Reorganized Debtors will enter into as a condition to the consummation of the Plan.
Examples of New Revolving Loan Facility in a sentence
The master agreements may also govern other swaps and derivatives transactions between the Emeco Note Issuer and hedge counterparties, including transactions hedging the interest rate exposure of the Emeco Note Issuer under the New Revolving Loan Facility.
In addition to these financial undertakings, the New Revolving Loan Facility Agreement will provide for certain restrictions on secured indebtedness as well as restrictions on asset backed indebtedness.
A security trust deed among the Emeco Note Issuer and the other guarantors of the New Revolving Loan Facility and Global Loan Agency Services Australia Pty Ltd as security trustee will govern the arrangements between the lenders under the New Revolving Loan Facility, the counterparties to the Currency Hedges and the holders of the Tranche B Notes, including how the benefit of the security is to be shared among them.
On enforcement, the New Revolving Loan Facility and Currency Hedges will rank ahead of the Tranche B Notes as outlined in Schedule 1.
The New Revolving Loan Facility will initially be guaranteed by the Company, the Emeco Note Issuer, Emeco Canada Limited, Emeco Finance Pty Limited, Emeco International Pty Limited, EHL Corporate Pty Limited and Emeco Parts Pty Limited.