New Secured Debt definition

New Secured Debt means the new secured indebtedness of Cline, which is to be guaranteed by New Elk and North Central, to be established on the Plan Implementation Date pursuant to section 5.2(2) hereof, the terms of which shall be consistent with the summary of terms set forth in Schedule “A” and which shall be governed by the New Credit Agreement.

New Secured Debt means any Indebtedness incurred pursuant to Section ---------------- 6.02(m).

New Secured Debt means, collectively, the New Senior Secured Debt and the New Junior Secured Debt.

Examples of New Secured Debt in a sentence

• Excess cash flow of the Reorganized Debtors (to be defined in the New Secured Debt Documents as mutually agreed upon by the Debtors and the Supporting Noteholders), shall be distributed to the Holders of the New Secured Debt on a quarterly basis.

• The New Secured Debt will mature in five years from the date of the issuance thereof and will accrue interest at the rate of 12.00% per annum, which shall be payable in Cash, quarterly in arrears.

• The lenders under the New Secured Debt will be each of the existing Holders of the Senior Secured Notes.

• To the extent that Cash, New Secured Debt, or New Membership Interests to be distributed under the Plan remain undistributed as a result of the rounding of such fraction to the nearest whole dollar, such Cash or stock shall be treated as unclaimed property under Article VIII.H of the Plan.

• As the viability assessment is not focused on specific site calculations, the viability assessments of this strategic nature involve a highdegree of generalisation.

More Definitions of New Secured Debt

New Secured Debt means secured indebtedness with an aggregate principal amount of not less than the Syndication Amount in form and substance materially consistent with the New Secured Debt Term Sheet and otherwise acceptable to the Debtors and the Requisite First Lien Creditors, and, solely with respect to increases or decreases to the Syndication Amount, shall be reasonably acceptable to the Requisite Crossover Creditors.

New Secured Debt means a new first lien term loan in the amount of Forty-Five Million Dollars ($45,000,000) that will be owed by the Reorganized Debtors to the holders of the Senior Secured Notes Claims pursuant to the New Secured Debt Documents.

New Secured Debt has the meaning given in Section 2.9.

New Secured Debt means all obligations, liabilities and indebtedness of every nature of the Company from time to time owed to the New Secured Note Holders under the New Secured Notes, including, without limitation, the principal amount of all debts, claims and indebtedness, accrued and unpaid interest and all costs and expenses, whether primary, secondary, direct, contingent, fixed or otherwise, heretofore, now and from time to time hereafter owing, due or payable, whether before or after the filing of a Proceeding under the Bankruptcy Code together with any interest accruing thereon after the commencement of a Proceeding, without regard to whether or not such interest is an allowed claim.

New Secured Debt means the new secured notes to be issued on, or new secured term loans to be incurred on, the Effective Date, in the initial principal amount of $550 million and bearing cash interest at a rate of 7.75% per annum, or at the option of the Reorganized Propco I, paid-in-kind interest at a rate of 8.75% per annum pursuant to the applicable New Secured Debt Documents.

New Secured Debt means the obligation of the Reorganized Debtors to Bridging or its designee and Centurion, as applicable, in an amount equal to: (i) the DIP Loan; (ii) the Working Capital Loan; and (iii) the Remaining Secured Debt; provided, however that the amount of the New Secured Debt shall not exceed the Effective Date Debt Limit.

New Secured Debt means the $5,750,000,000 of first lien debt to be issued pursuant to the Plan and the New Secured Debt Documents.