Examples of Prepetition Revolving Loans in a sentence
As of the Petition Date, the amount outstanding on the Prepetition Revolving Loans was $11,020,131.23.
The outstanding balance of the Prepetition Revolving Loans was $11,036,931.23 as of the Petition Date.
The Prepetition Revolving Loans, which wereadvanced and repaid on a revolving basis and were not documented, were made to allow to enable the Debtors to pay ordinary course costs and expenses.
No material improvements were made at Plaintiffs’ schools for the 2016-2017 school year, which just began on September 6.
The Prepetition Revolving Loans were intended to be business loans.
Each Notice of Borrowing shall be in writing (by facsimile or otherwise) specifying the information required therein; provided, each Borrowing initially shall be of the Type (i) in the case of Roll-Up Advances, identical to those of the Prepetition Revolving Loans rolled up by such Roll-Up Advances and (ii) in the case of New Money Advances, as specified in the applicable Notice of Borrowing.
In contrast, the roll up of the Prepetition Revolving Loans Indebtedness merely affects the timing, not the amount or certainty, of the Prepetition Term Loan Lenders recovery—the secured claims arising under the Prepetition Credit Facility are required by section 1129 of the Bankruptcy Code to be satisfied in full before recoveries to junior creditors may be provided, absent consent of such secured parties (which consent the Debtors do not have here).
Given these circumstances, repayment of the Prepetition Revolving Loans Indebtedness upon entry of the Interim Order is reasonable, appropriate, and a sound exercise of the Debtors’ business judgment.
Each such designation shall be applied on a pro rata basis to each class of Prepetition Revolving Loans held by such Roll-Up Lender under the Prepetition Credit Agreement to the extent rolled up under this Agreement as set forth on Schedule I.
Such designation shall constitute for each Roll-Up Lender an exchange of the applicablean amount of Prepetition Revolving Loans for the applicableequal to such Roll-Up Lender’s Initial Roll-Up Amount for Roll-Up Advances on a dollar-for-dollar basis, and simultaneously with such designation and exchange, the aggregate principal amountan aggregate principal amount of such Roll-Up Lender’s outstanding Prepetition[Different first page setting changed from off in original to on in modified.].