Postpetition Lender definition

Postpetition Lender. AgStar Financial Services, PCA Guarantor: U.S. BioEnergy Corporation, a Delaware corporation, as Debtor in Possession in Bankruptcy Case No. 08-12612 (BLS), District of Delaware Postpetition Revolving Credit Facility: A revolving credit facility (the “Postpetition Loan”) to be made available to the Borrower, pursuant to the terms of this Term Sheet and the Interim Order in an amount not to exceed $3,000,000.00 as the Interim Facility and, from and after entry of the Final Order, $5,000,000.00 as the aggregate Postpetition Loan, pursuant to the terms of this Term Sheet, the Final Order and the Postpetition Financing Documents (the “Postpetition Commitment”). Advances under the Postpetition Loan are subject to Postpetition Loan Availability until the Postpetition Loan Maturity Date. Amounts borrowed under the Postpetition Loan may be borrowed, repaid, and reborrowed by the Borrower prior to the Postpetition Loan Maturity Date. Closing Date: November 3, 2008 Purpose: Upon entry of the Interim Order and acceptance of this Term Sheet, the Postpetition Lender shall make available to the Borrower the Interim Facility in an amount up to $3,000,000.00 for the Borrower’s working capital needs as itemized in the DIP Budget attached hereto as Exhibit A, subject to the terms and conditions in the Interim Order, and this Term Sheet; provided, however, that nothing herein or in the Interim Order shall bind the Postpetition Lender to any Plan incorporating the terms set forth in this Term Sheet or the Postpetition Financing Documents, without the prior express written consent of the Postpetition Lender. Upon entry of the Final Order on or before December 10, 2008 approving the Postpetition Financing Documents, each of which must be acceptable to the Postpetition Lender and satisfaction of the conditions precedent to closing set forth therein, the Postpetition Lender shall make available to the Borrower Debtor In Possession financing in an aggregate amount up to $5,000,000.00 for the Borrower’s working capital needs as itemized in the DIP Budget attached to the Final Order, subject to the terms and conditions in the Final Order, this Term Sheet, and the Postpetition Financing Documents; provided, however, that nothing herein or in the Final Order shall bind the Postpetition Lender to any Plan incorporating the terms set forth in this Term Sheet or the Postpetition Financing Documents, without the prior express written consent of the Postpetition Lender.
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Postpetition Lender. AgStar Financial Services, PCA Guarantor: U.S. BioEnergy Corporation, a Delaware corporation, as Debtor in Possession in Bankruptcy Case No. 08-12612 (BLS), District of Delaware.
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Postpetition Lender has the meaning specified in the preamble.
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Examples of Postpetition Lender in a sentence

  • Borrower shall pay to Postpetition Lender on the Closing Date a fee equal to one percent (1.0%) of the aggregate Postpetition Loan Commitment.

  • Postpetition Lender is authorized to advance from the Postpetition Loan an amount equal to such Administration Fee.

  • Postpetition Lender is authorized to advance from the Postpetition Loan an amount equal to such Commitment Fee.

  • Postpetition Lender is authorized to advance from the Postpetition Loan an amount equal to such fees.

  • As security for the Postpetition Obligations, the Postpetition Lender is hereby granted valid, binding, enforceable, first priority and perfected Liens (the “Postpetition Liens”) in the Postpetition Collateral and the Prepetition Collateral.

  • The Borrower and the Guarantor shall execute and deliver to the Postpetition Lender all such agreements, financing statements, instruments and other documents as the Postpetition Lender may reasonably request to evidence, confirm, validate or perfect the Liens granted pursuant hereto.

  • Counsel for the Postpetition Lender shall submit summaries of their invoices (generally describing work performed but excluding detailed time entries) to the U.S. Trustee and counsel for the Committee at the same time their invoices are submitted to the Postpetition Lender.

  • In addition to the foregoing Commitment Fee and such other fees required or set forth in this Term Sheet or in the Interim Order, Borrower shall pay to Postpetition Lender on the Closing Date an administration fee equal to one-half of one percent (0.5%) of the aggregate Postpetition Loan Commitment.

  • Upon the occurrence of an Event of Default, as defined in this Term Sheet, the Postpetition Lender: • shall be entitled to exercise all of the remedies set forth in the Interim Order; and • the Postpetition Lender shall no longer be obligated to make further Advances to the Borrower under the Postpetition Loan.

  • Holders of Administrative Claims that are Postpetition Lender Claims will not be required to File or serve any request for payment or application for allowance of such Claims.


More Definitions of Postpetition Lender

Postpetition Lender means Resurgence Partners, LLC.
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Related to Postpetition Lender

  • Prepetition Lenders means the lenders party to the Prepetition Credit Agreement.

  • DIP Lender means a lender under the DIP Facility.

  • Second Lien Lenders means the “Lenders” under and as defined in the Second Lien Credit Agreement.

  • First Lien Lenders means the “Lenders” under and as defined in the First Lien Credit Agreement.

  • DIP Lenders has the meaning assigned to such term in Section 2.05(b).

  • Prepetition Loan Documents means the “Loan Documents” as defined in the Prepetition Credit Agreement.

  • Bank Lenders means the banks and financial institutions party to the Bank Credit Agreement.

  • PPP Lender means JPMorgan Chase Bank, N.A.

  • Prepetition Credit Agreement has the meaning specified in the recitals hereto.

  • Second Lien Loan Documents means the Second Lien Credit Agreement and the other “Loan Documents” as defined in the Second Lien Credit Agreement.

  • First Lien Loan Documents means the “Loan Documents” as defined in the First Lien Credit Agreement.

  • Subordinated Lender means each Seller, in its capacity as subordinated lender pursuant to the relevant Subordinated Loan Agreement.

  • Subordinated Lenders means each and every Person to whom any of the Subordinated Indebtedness are owed.

  • DIP Agent means the administrative agent for the DIP Lenders as defined in the DIP Credit Agreement.

  • Second Lien Administrative Agent means the “Administrative Agent” as defined in the Second Lien Credit Agreement.

  • Revolving Loan Lender means a Lender with a Revolving Credit Commitment or a Revolving Loan.

  • Term Loan Lender means a Lender with a Term Loan Commitment or an outstanding Term Loan.

  • Facility Lender Any lender(s) or tax equity financing party providing any Facility Debt and any successor(s) or assigns thereto, collectively.

  • Prepetition Agent means Goldman Sachs Bank USA in its capacity as administrative agent and collateral agent under the Prepetition Credit Agreement.

  • Revolving Facility Lender means a Lender (including an Incremental Revolving Facility Lender) with a Revolving Facility Commitment or with outstanding Revolving Facility Loans.

  • Subordinate Lender means the person or entity named as such in the first paragraph of this Agreement and any other person or entity who becomes the legal holder of the Subordinate Note after the date of this Agreement.

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • DIP Facility means the debtor-in-possession secured financing facility provided to the Debtors by the DIP Lenders pursuant to the DIP Credit Agreement as authorized by the Bankruptcy Court pursuant to the DIP Facility Order.

  • Term Loan Claims means any Claim on account of, arising under, derived from, or based upon the Term Loan Documents, including Claims for all principal amounts outstanding, interest, fees, expenses, costs, and other charges arising thereunder or related thereto.

  • New Revolving Loan Lender shall have the meaning provided in Section 2.14(b).