Original Loans definition
Examples of Original Loans in a sentence
In the event that the aggregate amount of the applicable Original Loans subject to Extension Elections exceeds the amount of the applicable Extended Loans requested pursuant to the Extension Request, the applicable Original Loans subject to such Extension Elections shall be converted to Extended Loans on a pro rata basis based on the amount of the applicable Original Loans included in each such Extension Election.
No Lender shall have any obligation to agree to have any of its Original Loans converted into Extended Loans pursuant to any Extension Request.
The proceeds of the Loans shall be used for working capital and other general corporate purposes (including, without limitation, to refinance the Original Loans) of the Loan Parties and, to the extent permitted by this Agreement, their Subsidiaries.
The Original Loans are secured by security interests in, and liens on, certain assets of Original Borrowers.
Subject to the terms and conditions hereof, on the Effective Date, all of the outstanding principal amounts of the Original Loans, together with all accrued and unpaid interest with respect thereto and all outstanding obligations under the Prepetition Swap Contracts, shall be converted as set forth in the Plan of Reorganization into (a) new senior secured term loans in an aggregate principal amount of $300,000,000 outstanding under this Agreement (the “Loans”), and (b) the Lender Equity Interests.