Examples of Prepetition First Lien Term Loans in a sentence
Certain of the Debtors are parties to that certain First Lien Term Loan Agreement, dated as of September 30, 2013 (as amended, the “Prepetition First Lien Term Loan Agreement”), between Fieldwood Energy, as borrower, Citibank, as administrative agent (in such capacity, the “Prepetition First Lien Term Agent”), the other banks and financial institutions party thereto, and the lenders party thereto from time to time holding the Prepetition First Lien Term Loans (the “Combined Prepetition FLTL Lenders”).
Faced with that risk, the Company sought to hedge against rising interest rates as early as August 2022 but was unsuccessful due to its credit profile until March 2023, when the Company purchased an interest rate cap at $20 million for rate exposure on the Prepetition First Lien Term Loans (as defined below).Market dynamics have had other negative effects.