Senior Secured Credit Facilities definition
Examples of Senior Secured Credit Facilities in a sentence
Indebtedness incurred under the Senior Secured Credit Facilities will be deemed to have been incurred in reliance on the exception provided by clause (1)(x) of the definition of Permitted Debt and may not be reclassified.
Indebtedness incurred under the Senior Secured Credit Facilities will be deemed to have been incurred in reliance on the exception provided by clause (1)(x) of the definition of Permitted Debt and may not be reclassified and Indebtedness incurred under the Existing Studio City Company Notes will be deemed to have been incurred in reliance on the exception provided by clause (3)(a) of the definition of Permitted Debt and may not be reclassified.
Notwithstanding the foregoing, any such Capital Stock excluded as Collateral under the Rule 3-16 Exception will not be excluded from the collateral securing the Senior Secured Credit Facilities as a result of being excluded as Collateral.
Proceeds of the loans under Petro Operating’s new Senior Secured Credit Facilities will be used to provide additional financing to effect the Refinancing Transactions, to pay fees and expenses relating to the Refinancing Transactions, and for general corporate and working capital purposes.
In connection with the Refinancing Transactions, Petro Operating will replace its existing Senior Secured Credit Facilities arranged by Banc of America Securities LLC with Bank of America, N.A. as syndication agent and ▇▇▇▇▇ Fargo, N.A. as administrative agent in an aggregate principal amount of $50 million, consisting of a three year revolving credit facility of $25 million and a four year term loan facility of $25 million.