Required DIP Commitment Parties definition

Required DIP Commitment Parties. “Required DIP Commitment Parties” shall mean the Required Consenting Stakeholders (as defined in the Restructuring Support Agreement).

Required DIP Commitment Parties means, at any time, two or more unaffiliated DIP Commitment Parties provided greater than 66 and 2/3% of the DIP Commitments.

Required DIP Commitment Parties means, as of the relevant date, Initial DIP Commitment Parties who own or control more than 66.67% in aggregate principal amount of the outstanding DIP Loans and/or commitments under the DIP Commitment Letter, as applicable, that are owned or controlled by Initial DIP Commitment Parties in the aggregate as of such date.

Examples of Required DIP Commitment Parties in a sentence

• This DIP Commitment Letter may not be amended, or any provision hereof waived or modified, except by written agreement signed by the Debtors and the Required DIP Commitment Parties (which amendment, waiver or modification may be effected via email); provided, that any amendment or other modification hereof that affects the rights or obligations of the DIP Agent or the DIP Arranger shall require the consent of the DIP Agent or the DIP Arranger, as applicable.

• The DIP Credit Agreement will contain conditions precedent to the effectiveness of the DIP Loan Documents and the availability of the DIP Loans at each applicable draw determined in accordance with the Documentation Principles, the satisfaction (or waiver) of which conditions precedent shall be determined by the Required DIP Commitment Parties (in connection with the Closing and the Initial Draw) or the Required DIP Lenders (in connection with any subsequent DIP Draw).

• The Loan Parties shall be required to comply with certain milestones related to the Loan Parties’ Chapter 11 Cases as are set forth on Annex A hereto and such other milestones as may be included in the DIP Credit Agreement and the Restructuring Support Agreement, as determined by the Required DIP Commitment Parties in their sole discretion (collectively, the “Milestones”).

• The obligations of the DIP Commitment Parties hereunder are several and not joint and are in all respects subject to the satisfaction (or waiver by the Required DIP Commitment Parties, in their sole discretion) of the conditions precedent set forth in the DIP Term Sheet under the heading “Conditions Precedent to Closing and DIP Draws”.

• The Liquidating Trustee will ultimately be selected by the Required DIP Commitment Parties, subject to the consent of the First Lien Group and the Company Parties (which will not be unreasonably withheld, conditioned, or delayed).

• Compliance with cash management order acceptable to the Required DIP Commitment Parties on an interim basis and the Required DIP Term Loan Lenders on a final basis.

• Required DIP Commitment Parties As defined in the Restructuring Support Agreement.

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More Definitions of Required DIP Commitment Parties

Required DIP Commitment Parties has the meaning set forth in the DIP Term Sheet.

Required DIP Commitment Parties means the Required Consenting Stakeholders (as defined in the Restructuring Support Agreement).

Required DIP Commitment Parties means, as of the relevant date, Initial DIP Commitment Parties who own or control more than 66.67% in aggregate principal amount of the outstanding DIP Loans and/or DIP Commitments, as applicable, that are owned or controlled by Initial DIP Commitment Parties in the aggregate as of such date (such percentage to be determined after giving effect to any bona fide unsettled trades as of such date, provided that, and solely to the extent requested by counsel to the Company Parties in writing, such Consenting Creditors with unsettled trades as of such dates shall provide reasonably satisfactory documentation to counsel to the Company Parties evidencing the validity of such unsettled trades (it being understood and agreed that executed trade confirmations shall be deemed satisfactory documentation)).

Required DIP Commitment Parties shall also require the consent of each affected Consenting Party, and (3) the definition of “Outside Date” shall require the consent of each Initial DIP Commitment Party and the Strategic Investor, provided that, if the definition of Outside Date is amended pursuant to this Section 14 to a later date, any Consenting Creditor who has not consented to such amendment may terminate this Agreement solely as to such Consenting Creditor; and (C) any modification, amendment or supplement to this Agreement and the Restructuring Term Sheet in order to reflect a settlement of all or any of the Xxxxxxxx-Related Litigations in accordance with Section 8.01(n) shall require only the prior written consent of the Required DIP Commitment Parties (provided, however, that, solely to the extent any such settlement has a materially adverse impact on the rights or obligations of the Strategic Investor in connection with the Restructuring Transactions, any such modification, amendment, or supplement will require the consent of the Strategic Investor, with such consent not to be unreasonably withheld, conditioned, or delayed).