Prepetition First Lien Loans definition

Prepetition First Lien Loans means any extension of credit made by Prepetition First Lien Lenders under the Prepetition First Lien Credit Agreement.
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Prepetition First Lien Loans means “Loans” as defined in the Prepetition First Lien Credit Agreement.
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Prepetition First Lien Loans means the Debt outstanding under the Prepetition First Lien Credit Agreement on the Closing Date.
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Examples of Prepetition First Lien Loans in a sentence

  • The Interim Order does not provide for cross collateralization, however, the proceeds of the Roll-Up Loans will be used to pay off the Prepetition First Lien Loans and the proceeds of the New Money Loans will be used to pay off the Receivables Facility.

  • The Prepetition First Lien Loans will be exchanged for Roll-Up Loans.

  • On the Closing Date and without any further action of any Person, each NM Lender having a NM Commitment as of such date and/or Related Lender thereof shall be deemed to have made Roll-Up Loans hereunder with the proceeds thereof being applied to the Prepetition First Lien Obligations in respect of such NM Lenders’ and Related Parties’ then- outstanding Prepetition First Lien Loans.

  • The Prepetition First Lien Loans are secured by liens on substantially all of the assets of the Company, but excluding certain limited exclusions as set forth in the Prepetition First Lien Credit Agreement and the accompanying First Lien Pledge and Security Agreement, dated as of July 12, 2007.

  • Upon entry of this Interim Order, without any further action by the Debtors or any other party, $35,000,000 of the Prepetition First Lien Loans shall be converted into DIP Obligations, as Roll-Up Loans.

  • On March 30, 2023, the Debtors, certain of the Prepetition First Lien Lenders holding more than 66.67% of the outstanding Prepetition First Lien Loans (such lenders, the “ Consenting Prepetition First Lien Lenders”), and the Consenting Sponsor entered into theRestructuring Support Agreement attached hereto as Exhibit B (the “RSA”).

  • The relative contractual rights of the holders of the Prepetition First Lien Loans and the Prepetition Second Lien Loans are governed by the Junior Intercreditor Agreement.

  • The DIP Borrower and the DIP Guarantors are hereby immediately authorized and empowered to enter into, execute and deliver, the DIP Documents, including the DIP Credit Agreement, and such additional documents, instruments, certificates and agreements as may be reasonably required or requested by the DIP Secured Parties to implement the terms or effectuate the purposes of this Interim Order and the DIP Documents and to effectuate the exchange of Prepetition First Lien Loans for Roll-Up Loans.

  • Upon the entry of this Interim Order, without any further action by the Debtors or any other party, the Debtors shall be authorized and deemed to have effectuated the exchange of $35,000,000 in aggregate principal amount of Prepetition First Lien Loans for Roll-Up Loans, subject to the occurrence of the Closing Date (as defined in the DIP Credit Agreement).


More Definitions of Prepetition First Lien Loans

Prepetition First Lien Loans outstanding under the Existing First Lien Credit Agreement plus the “Letter of Credit Usage” (as defined under the Existing First Lien Credit Agreement), in each case, as of the Petition Date, minus, after the First Lien Repayment Date, the amount of the First Lien Repayment (the “Maximum Revolver Amount”). On and after the date on which the First Lien Repayment is made (such date, the “First Lien Repayment Date”), the DIP Revolving Loans will be available from time to time under the DIP Revolving Facility up to a maximum principal amount outstanding at any one time (the “DIP Revolving Availability”) not to exceed the lesser of:
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Prepetition First Lien Loans means the principal amount of loans outstanding under the Existing First Lien Credit Agreement.
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Prepetition First Lien Loans means the Prepetition Revolving Loans and the Prepetition First Lien Term Loans.
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Prepetition First Lien Loans and the Claims thereof, the “Prepetition First Lien Claims”) and (z) lenders under the Debtors’ Second Lien Credit Agreement, dated as of December 10, 2020 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Prepetition Second Lien Credit Agreement”) who collectively hold more than 66.7% of the principal amount of loans thereunder (such loans, the “Prepetition Second Lien Loans” and the Claims thereof, the “Prepetition Second Lien Claims”), pursuant to which the Debtors shall pursue a reorganization pursuant to a joint pre-packaged plan of reorganization (the “Restructuring”) in accordance with this Restructuring Term Sheet and the Restructuring Support Agreement to which this Restructuring Term Sheet is attached (together with the exhibits, annexes, schedules, and attachments to such agreement, including this Restructuring Term Sheet, each as may be amended, restated, supplemented, or otherwise modified from time to time in accordance with the terms thereof, the “Restructuring Support Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Restructuring Support Agreement. THIS RESTRUCTURING TERM SHEET DOES NOT CONSTITUTE (NOR WILL IT BE CONSTRUED AS) AN OFFER WITH RESPECT TO ANY SECURITIES OR A SOLICITATION OF ACCEPTANCES OR REJECTIONS AS TO ANY PLAN OF REORGANIZATION, IT BEING UNDERSTOOD THAT SUCH AN OFFER, IF ANY, ONLY WILL BE MADE IN COMPLIANCE WITH APPLICABLE PROVISIONS OF SECURITIES, BANKRUPTCY AND/OR OTHER APPLICABLE LAWS. THIS RESTRUCTURING TERM SHEET DOES NOT PURPORT TO SUMMARIZE ALL OF THE TERMS, CONDITIONS, REPRESENTATIONS, WARRANTIES AND OTHER PROVISIONS WITH RESPECT TO THE TRANSACTIONS DESCRIBED HEREIN. ANY BINDING AGREEMENT AND/OR COMMITMENT TO EXTEND CREDIT ON THE TERMS AND CONDITIONS OUTLINED HEREIN SHALL BE SUBJECT TO, AND EXCLUSIVELY EVIDENCED BY, DEFINITIVE LEGAL DOCUMENTATION IN FORM AND SUBSTANCE SATISFACTORY TO THOSE PARTIES AS SET FORTH IN SECTION 3.02 OF THE RESTRUCTURING SUPPORT AGREEMENT. IN ADDITION, THE TERMS AND CONDITIONS CONTAINED HEREIN ARE SUBJECT TO SATISFACTORY COMPLETION OF CREDIT AND UNDERWRITING APPROVAL AND SUCH OTHER TERMS AND CONDITIONS AS MAY BE DETERMINED BY THE COMPANY AND THE REQUISITE CONSENTING LENDERS IN THEIR SOLE DISCRETION. TRANSACTION OVERVIEW Implementation The Restructuring will be accomplished through the Company’s commencement of voluntary cases under the Bankruptcy Code (the “Chapter 11 Cases”) in the Unit...
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Prepetition First Lien Loans and the Claims thereof, the “Prepetition First Lien Claims”) and (z) lenders under the Debtors’ Second Lien Credit Agreement, dated as of December 10, 2020 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Prepetition Second Lien Credit Agreement”) who collectively hold more than 66.7% of the principal amount of loans thereunder (such loans, the “Prepetition Second Lien Loans” and the Claims thereof, the “Prepetition Second Lien Claims”), pursuant to which the Debtors shall pursue a reorganization pursuant to a joint pre-packaged plan of reorganization (the “Restructuring”) in accordance with this Restructuring Term Sheet and the Restructuring Support Agreement to which this Restructuring Term Sheet is attached (together with the exhibits, annexes, schedules, and attachments to such agreement, including this Restructuring Term Sheet, each as may be amended, restated, supplemented, or otherwise modified from time to time in accordance with the terms thereof, the “Restructuring Support Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Restructuring Support Agreement. THIS RESTRUCTURING TERM SHEET DOES NOT CONSTITUTE (NOR WILL IT BE CONSTRUED AS) AN OFFER WITH RESPECT TO ANY SECURITIES OR A SOLICITATION OF ACCEPTANCES OR REJECTIONS AS TO ANY PLAN OF REORGANIZATION, IT BEING UNDERSTOOD THAT SUCH AN OFFER, IF ANY, ONLY WILL BE MADE IN COMPLIANCE WITH APPLICABLE PROVISIONS OF SECURITIES, BANKRUPTCY AND/OR OTHER APPLICABLE LAWS. THIS RESTRUCTURING TERM SHEET DOES NOT PURPORT TO SUMMARIZE ALL OF THE TERMS, CONDITIONS, REPRESENTATIONS, WARRANTIES AND OTHER PROVISIONS WITH RESPECT TO THE TRANSACTIONS DESCRIBED HEREIN. ANY BINDING AGREEMENT AND/OR COMMITMENT TO EXTEND CREDIT ON THE TERMS AND CONDITIONS OUTLINED HEREIN SHALL BE SUBJECT TO, AND EXCLUSIVELY EVIDENCED BY, DEFINITIVE LEGAL DOCUMENTATION IN FORM AND SUBSTANCE SATISFACTORY TO THOSE PARTIES AS SET FORTH IN SECTION 3.02 OF THE RESTRUCTURING SUPPORT AGREEMENT. IN ADDITION, THE TERMS AND CONDITIONS CONTAINED HEREIN ARE SUBJECT TO SATISFACTORY COMPLETION OF CREDIT AND UNDERWRITING APPROVAL AND SUCH OTHER TERMS AND CONDITIONS AS MAY BE DETERMINED BY THE COMPANY AND THE REQUISITE CONSENTING LENDERS IN THEIR SOLE DISCRETION. TRANSACTION OVERVIEW Implementation The Restructuring will be accomplished through the Company’s commencement of voluntary cases under the Bankruptcy Code (the “Chapter 11 Cases”) in the Unit...
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Related to Prepetition First Lien Loans

  • First Lien Loans means the loans made under the First Lien Credit Agreement.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

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

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

  • First Lien Last Out Loan means a loan that, prior to an event of default under the applicable Related Contract, is entitled to receive payments pari passu with other senior secured loans of the same Obligor, but following an event of default under the applicable Related Contract, such Collateral Loan becomes fully subordinated to other senior secured loans of the same Obligor and is not entitled to any payments until such other senior secured loans are paid in full.

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

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

  • Performing First Lien Bank Loans means First Lien Bank Loans which are Performing.

  • First Lien Term Loans means the “Term Loans” (or any comparable term) as defined in the First Lien Credit Agreement.

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

  • Term Loan Obligations means the “Obligations” as defined in the Term Loan Credit Agreement.

  • First Lien Bank Loan means a Bank Loan that is entitled to the benefit of a first lien and first priority perfected security interest on a substantial portion of the assets of the respective borrower and guarantors obligated in respect thereof.

  • ABL Loans means the “Loans” as defined in the ABL Credit Agreement.

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

  • Additional First Lien Obligations means, with respect to any Series of Additional First Lien Obligations, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Additional First Lien Obligations, (b) all other amounts payable to the related Additional First Lien Secured Parties under the related Additional First Lien Documents and (c) any renewals of extensions of the foregoing.

  • DIP means debtor-in-possession.

  • First Lien Credit Agreement has the meaning set forth in the recitals hereto.

  • First Lien Notes means the 8.000% first lien secured notes due April 1, 2027, issued by Frontier pursuant to the First Lien Notes Indenture.

  • Prepetition Collateral shall have the meaning provided in Section 3.1(b).

  • Term Loan Collateral means all assets, whether now owned or hereafter acquired by any Loan Party, in which a Lien is granted or purported to be granted to any Term Loan Secured Party as security for any Term Loan Obligation.

  • Other First Lien Obligations means (a) the due and punctual payment by any Pledgor of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding) on Indebtedness under any Other First Lien Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (ii) all other monetary obligations of such Pledgor to any Secured Party under any Other First Lien Agreement, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding), (b) the due and punctual performance of all other obligations of such Pledgor under or pursuant to any Other First Lien Agreement and (c) the due and punctual payment and performance of all the obligations of each other Pledgor under or pursuant to any Other First Lien Agreement.

  • 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.

  • Other First Lien Debt means obligations secured by Other First Liens.

  • Additional First Lien Secured Parties means the holders of any Additional First Lien Obligations and any trustee, authorized representative or agent of such Additional First Lien Obligations.

  • Prepetition means arising or accruing prior to the Petition Date.

  • Other First Liens means Liens on the Collateral that are pari passu with the Liens thereon securing the Term B Loans (and other Loan Obligations that are pari passu with the Term B Loans) pursuant to a Permitted Pari Passu Intercreditor Agreement.