Second Lien Documentation definition
Examples of Second Lien Documentation in a sentence
The Second Lien Documentation shall contain provisions protecting the Second Lien Lenders against increased costs or loss of yield resulting from changes in reserve, capital adequacy and other requirements of law and from the imposition of or changes in certain withholding or other taxes.
Affirmative Covenants Usual and customary for exit term loan financings of this type for exploration and production companies in the current market (including minimum hedging requirements substantially consistent with those under the First Lien Exit Facility), subject to exclusions, qualifications and limitations for materiality consistent with the Second Lien Documentation Principles, and which shall include a requirement to obtain and maintain ratings in respect of the Second Lien Exit Facility.
Representations and Warranties Usual and customary for exit term loan financings of this type for exploration and production companies in the current market, subject to qualifications and limitations for materiality consistent with the Second Lien Documentation Principles.
Any Monetary Obligation for which a pay-off letter has been obtained and payment is made at Closing in accordance with such pay-off letter shall be deemed Cured and shall cease to be a Valid Objection.
Without limiting the generality of the foregoing, the Borrower will reimburse the Second Lien Lenders and the Second Lien Agent for all their reasonable fees and expenses (including reasonable and documented legal fees and expenses) incurred in connection with the transaction contemplated hereby, each future amendment or waiver of the Second Lien Documentation (whether or not consummated) and the enforcement of the Second Lien Documentation.
In the event of any inconsistency between the provisions of the documentation for the First Lien Obligations (the “First Lien Documentation”), the provisions of the documentation for the Second Lien Obligations (the “Second Lien Documentation”) and the Intercreditor Agreement, the provisions of the Intercreditor Agreement shall supercede the provisions of the First Lien Documentation and Second Lien Documentation, as the case may be.
Each Loan Document and each item of Acquisition Documentation, the Second Lien Documentation and the Revolving Loan Agreement has been duly executed and delivered on behalf of each Loan Party that is a party thereto.
The Administrative Agent shall have received (in a form reasonably satisfactory to the Administrative Agent), true and correct copies, certified as to authenticity by the US Borrower, of (i) the Second Lien Documentation, (ii) the Revolving Loan Agreement, and (iii) the Acquisition Documentation.
None The Second Lien Documentation with contain a 20% cushion to the corresponding ratios, thresholds and dollar baskets in the First Lien Documentation for applicable provisions, including representations and warranties, affirmative covenants, negative covenants and events of default.
Each Loan Party has the corporate or other applicable legal power and authority, and the legal right, to make, deliver and perform its respective obligations under the Loan Documents, the Acquisition Documentation, the Second Lien Documentation and the Revolving Loan Agreement to which it is a party and, in the case of the US Borrower and the Cayman Borrower, to borrow hereunder.