Replacement Credit Facility means the Replacement Existing Credit Facility and the Replacement New Credit Facility, collectively; provided, however, that neither a Qualified Receivables Facility, a Qualified Securitization Facility, nor a Qualified Digital Products Facility, in each case incurred pursuant to Section 9.08(b)(xxviii), Section 9.08(b)(xxvii), or Section 9.08(b)(xxx) respectively, shall constitute a Replacement Credit Facility.
Replacement Credit Facility means, for the Initial Credit Facility, an irrevocable revolving credit agreement (or agreements) in substantially the form of the Initial Credit Facility, including reinstatement provisions, or in such other form or forms (which may include a letter of credit, surety bond, swap, financial insurance policy or guaranty) as shall permit the Rating Agencies to confirm in writing their respective ratings then in effect for the Certificates (before downgrading of such ratings, if any, as a result of the downgrading of the ratings of the replaced Initial Credit Facility Provider; such rating as determined without regard to the Policy) and, if not in form and substance substantially the same as the Initial Credit Facility as reasonably determined by the Policy Provider, that has been approved in writing by the Policy Provider, in a face amount (or in an aggregate face amount) equal to the then Maximum Commitment for the replaced Initial Credit Facility and issued by an Eligible Provider or Eligible Providers having an unsecured short-term or long-term (as the case may be) debt rating and a short-term or long-term (as the case may be) issuer credit rating, as the case may be, issued by Moody's and Standard & Poor's which are equal to or higher than the Threshold Rating (and consented to in writing by the Policy Provider if any such rating which is equal to the Threshold Rating shall not have a stable or positive outlook according to the Rating Agencies) or, with the written consent of the Policy Provider, such other ratings and qualifications as shall permit the Rating Agencies to confirm in writing their respective ratings then in effect for the Certificates (before the downgrading of such ratings, if any, as a result of the downgrading of the ratings of the replaced Initial Credit Facility Provider; such rating as determined without regard to the Policy). Without limitation of the form that a Replacement Credit Facility otherwise may have pursuant to the preceding sentence, a Replacement Credit Facility may have a stated expiration date earlier than 15 days after the Final Maturity Date of the ACS Group Subclass A-1 Securities so long as such Replacement Credit Facility provides for a Non-Extension Drawing as contemplated by Section 3.12(d).
Replacement Credit Facility means a new Fannie Mae Credit Enhancement Instrument provided at the request of Fannie Mae, provided that such exchange shall not adversely affect the rating then in effect for the related Bonds.
Examples of Replacement Credit Facility in a sentence
If the foregoing obligation to xxxxx x Xxxx on any property or assets to secure the Securities or a Note Guarantee arises due to the grant of a Lien on such property or assets to secure the Existing Issuer Credit Facility Obligations (or the obligations under any Replacement Credit Facility), then the Lien on such property or assets to secure the Securities or a Note Guarantee may be released in accordance with the provisions of Section 1308.
In addition, in consideration of the Replacement Credit Facility proposed by Lender to Borrower, Borrower agrees to pay Lender $1,050,000 as a non-refundable and fully earned fee as of the date hereof, payable in three (3) equal installments of $350,000 each on April 1, May 1, and June 1, 1998.
The framework was revised based on input and suggestions and three categories were identified as organizers.
Upon the Expiration Date for any Credit Facility or upon delivery of a Replacement Credit Facility, the Trustee shall deliver written notice thereof to S&P and Moody’s.
From and after the Effective Time, Parent shall assume, be jointly and severally liable for, and honor, guarantee and stand surety for, and shall cause the Surviving Corporation and its Subsidiaries to honor, in accordance with their respective terms, each of the covenants contained in this Section 7.8.
More Definitions of Replacement Credit Facility
Replacement Credit Facility means any agreement governing unsecured Debt or Debt secured primarily by assets that secure or by assets substantially similar to assets that secure the Existing Issuer Credit Facility incurred primarily to refinance or otherwise replace (in whole or in part) the Existing Issuer Credit Facility, and any one or more other agreements governing Debt, including indentures, incurred to refinance, substitute, supplement, replace or add to (including increasing the amount available for borrowing or adding or removing any person as a borrower, issuer or guarantor thereunder), in whole or in part, the borrowings and commitments then outstanding or permitted to be outstanding under such Existing Issuer Credit Facility or one or more successors to the Existing Issuer Credit Facility or one or more new credit agreements.
Replacement Credit Facility means any Credit Facility that refunds, refinances or replaces the First Lien RBL Credit Agreement or any other Replacement Credit Facility, in each case, in whole and with all commitments thereunder terminated; provided that (i) the terms and conditions of, and documentation for, any such Credit Facility are reasonably satisfactory to the Requisite Lead Holders, (ii) the total yield, covenants and defaults and events of default specified in such Credit Facility are the same in all material respects as the First Lien RBL Credit Agreement, (iii) such Credit Facility does not provide for the incurrence of incremental facilities or incremental indebtedness (or incremental equivalent facilities or indebtedness) (or analogous extensions of credit), (iv) such Credit Facility contains no prepayment penalties or premiums (other than customary breakage for LIBOR interest periods) or contain any make-whole, or any other provision similar to the foregoing in this clause (iv) and (v) such Credit Facility does not change the waterfall provisions or similar order of payment provisions from those provisions set forth in the First Lien RBL Credit Agreement or create or otherwise establish layers of Indebtedness or other subordinated tranches (or sub-tranches) of Indebtedness.
Replacement Credit Facility means any credit agreement, loan agreement or other agreement or instrument evidencing or governing the terms of any senior secured credit facility (including any security therefor) that has been incurred to replace or refinance in full the Obligations under the Credit Agreement or any other Replacement Credit Facility (or otherwise entered into at a time when no other Credit Agreement or Replacement Credit Facility is in effect), unless such agreement or instrument expressly provides that it is not intended to be a Replacement Credit Facility for the purpose hereof.
Replacement Credit Facility means any Credit Facility that refunds, refinances or replaces the First Lien Credit Agreement or any other Replacement Credit Facility, in each case, in whole and with all commitments thereunder terminated (it being understood that this definition does not restrict the ability of the Borrower or any Guarantor to refinance, refund or replace the First Lien Credit Agreement with Indebtedness that is otherwise permitted to be Incurred under this Agreement).
Replacement Credit Facility has the meaning set forth in the definition of "Maturity Date".
Replacement Credit Facility means a credit facility provided to the Borrowers that provides for repayment in full of all Obligations (other than contingent indemnificationObligations to the extent no claim giving rise thereto has been asserted) upon the closing of such credit facility.
Replacement Credit Facility means a credit facility which provides for revolving loans to the Company and is established among the Company and one or more commercial banks and other commercial lenders in replacement of the current Credit Facility, which credit facility shall be on terms which are generally considered market for a company similarly situated to the Company as determined by the Board; provided that, any such credit facility (i) shall not in any way limit or restrict the payment of distributions and redemption of the Series B Units in accordance with the terms of this Agreement, including Sections 6.12, 7.2, 8.2, 8.5 and 13.4 hereof, to a greater extent than the limitations in the Credit Facility as of the date hereof, (ii) shall not provide that GP Holdings or Strike Force Midstream LLC shall be restricted subsidiaries of the Company, (iii) shall allow the asset sale provisions set forth in Exhibit C attached hereto, (iv) shall permit the Company to make distributions of any Voluntarily Deferred Payments to the Series B Members at any time without requiring the lenders’ consent; provided that at the applicable time the Company satisfies (or would satisfy on a pro forma basis after giving effect to any such proposed distribution) the same conditions under such credit facility for a permitted distribution made by the Company in the ordinary course in accordance with Section 8.2, and (v) must be approved by Requisite Member Approval if immediately after giving effect to such credit facility there would be any Voluntarily Deferred Payments outstanding.