Examples of Original DIP Credit Agreement in a sentence
Original DIP Credit Agreement means that certain Super-Priority Debtor-in- Possession Term Loan Agreement by and among LATAM Parent, as borrower, the guarantors party thereto, the Original Tranche A DIP Lenders, the Original Tranche C DIP Lenders, the Bank of Utah as administrative agent and collateral agent, and local collateral agents party thereto.
However, the Court did not approve the Original DIP Credit Agreement in part due to the Modified Equity Subscription Election as well as certain other provisions of the Original DIP Credit Agreement.
Under the Original DIP Credit Agreement the Borrowers and Guarantors agreed to various covenants customary for credit facilities of this size and type, including financial covenants.
Under the terms of the Original DIP Credit Agreement the Original Post-petition Lenders agreed to provide Debtors with financing in an aggregate amount not to exceed $150 million, consisting of (x) term loans in an amount not to exceed $135 million intended to fund construction costs associated with the Debtors’ hotel and (y) revolving loans in an amount not to exceed $15 million intended to fund both operating and construction costs.
Pursuant to the Second Interim Order and the Second Final Order and the Original DIP Credit Agreement, as amended by the First DIP Amendment and the Second DIP Amendment (as so amended and as amended by the Third DIP Amendment, the “DIP Credit Agreement”), the Administrative Borrower requested, and the DIP Lenders funded, additional Loans in the aggregate principal amount of $15,000,000.E. Notice.
Pursuant to the First Interim Order, the First Final Order and the Original DIP Credit Agreement, as amended by the First DIP Amendment, the Administrative Borrower requested, and the DIP Lenders funded, from time to time, Loans (as defined in the DIP Credit Agreement) in the aggregate principal amount of $30,000,000.
The financing provided by the Original DIP Credit Agreement was not itself sufficient to fund completion of the Debtors’ Expanded Complex.
The Court made several key findings, including that the Original DIP Credit Agreement satisfied the “entire fairness” test, that there were grounds under section 364(c) to authorize entry into the Original DIP Credit Agreement and that each of the Original Tranche A DIP Lender and Original Tranche C DIP Lenders were entitled to a “good faith” finding under section 364.
Original DIP Credit Agreement means that certain Super-Priority Debtor-in- Possession Term Loan Agreement by and among LATAM Parent, as borrower, the guarantors party thereto, the Original Tranche A DIP Lenders, the Original Tranche C DIP Lenders, and the DIP Agent.
As with the Original DIP Credit Agreement, under the DIP Credit Agreement the Borrowers and Guarantors agreed to various covenants customary for credit facilities of this size and type, including financial covenants.