Restructuring Loan definition

Restructuring Loan means a Loan under the Restructuring Loan Facility and after the Restructuring Loan Facility Conversion Date shall include the Restructuring A Loans, Restructuring B Loans and Restructuring C Loans as the context requires.

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Restructuring Loan is defined in Section 7.3(c).

Restructuring Loan. Any Loan acquired by the Issuer resulting from, or received or issued in connection with, an insolvency, bankruptcy, reorganization, default, workout or restructuring or similar event of a Collateral Obligation that, in each case, (x) meets the requirements of the definition of “Collateral Obligation” (other than clauses (ii), (viii), (xv) and, in the case of Uptier Priming Debt that constitutes Restructuring Loans, (xvi) thereof) as determined by the Collateral Manager, (y) is no more junior in right of payment than the related Collateral Obligation that was subject to insolvency, bankruptcy, reorganization, default, workout or restructuring or similar event and (z) at the time of such acquisition (or commitment to acquire), the Collateral Manager reasonably believes (not to be called into question as a result of subsequent events) that making such investment will (i) prevent bankruptcy or insolvency of the related obligor, (ii) minimize material losses in connection with the related Collateral Obligation or (iii) otherwise improve recovery prospects with respect to the related obligor or Collateral Obligation. Except to the extent provided above, the acquisition of Restructuring Loans (other than Uptier Priming Debt) will not be required to satisfy the Investment Criteria. Notwithstanding anything else to the contrary in this Indenture, a Restructuring Loan will be treated as a Defaulted Obligation for all purposes under this Indenture; provided that on any Business Day as of which such Restructuring Loan satisfies the definition of “Collateral Obligation” (as tested on such date and without giving effect to any carve-outs set forth in this definition or the definition of “Collateral Obligation”), the Collateral Manager may designate (by written notice to the Issuer and the Collateral Administrator) such Restructuring Loan as a “Collateral Obligation,” and thereafter, such Restructuring Loan shall be treated as a Collateral Obligation for all purposes under this Indenture.

Examples of Restructuring Loan in a sentence

• Without limiting the conditions set forth herein, each Party's agreement to this Agreement and support for the Conforming Plan, the Conforming Restructuring Loan Documents and the Term Sheet is expressly conditioned on satisfaction of each of the terms and conditions set forth in the Term Sheet and this Agreement.

• Unless otherwise agreed between the Company and the Facility Agent, a Term for a Term Loan and a Restructuring Loan will end on the same day as the current Term for any other Term Loan and Restructuring Loan denominated in the same currency as that Term Loan or Restructuring Loan and borrowed by that Borrower under the same Facility.

• Each Term for a Term Loan and Restructuring Loan will start on its Utilisation Date or on the expiry of its preceding Term.

• On the last day of those Terms, those Term Loans and Restructuring Loans will be consolidated and treated as one Term Loan or Restructuring Loan.

• If the transactions contemplated herein, in the Conforming Plan or the Conforming Restructuring Loan Documents are not consummated, or this Agreement is terminated for any reason, the Parties hereto fully reserve any and all of their rights.

• Each member of the Company Group believes that the confirmation of the Conforming Plan and the consummation of the Conforming Restructuring Loan Documents will best facilitate its business and financial restructuring and that consummation of the terms described in the Term Sheet is in the best interests of each member of the Company Group and in the best interests of their respective creditors and other parties in interest.

• The Company and Purchaser shall have entered into the Restructuring Loan Agreement and consummated the transactions contemplated therein.

• Accordingly, for so long as this Agreement remains in effect, each Consenting Lender will support the Conforming Plan and the Conforming Restructuring Loan Documents consistent with the terms and conditions of the Term Sheet.

• Each Consenting Lender believes that the consummation of the Conforming Plan and of the Conforming Restructuring Loan Documents consistent with the Term Sheet is in its best interests and is in the best interests of the Company Group's creditors generally.

• If a Term for any Term Loan or Restructuring Loan would otherwise extend beyond the date for the payment of the last Repayment Instalment for that Term Loan or Restructuring Loan, it will be shortened so that it ends on such last date.

More Definitions of Restructuring Loan

Restructuring Loan means the loan from Concoat Limited to Concoat Systems Limited in the amount of £209,962.85;