Senior Secured Credit Facility definition
Examples of Senior Secured Credit Facility in a sentence
The Debtor shall receive a corresponding share of the New Senior Secured Credit Facility to facilitate meeting its payment obligations under the Plan on the Effective Date.
Accordingly, as a consequence of the financing put in place in conjunction with the 2007 Merger, the ARCO Notes are now equally and ratably secured by property held directly by Lyondell Chemical that also secures the Senior Secured Credit Facility and the Bridge Loan Facility.
In connection with the closing of the 2007 Merger, the Obligor Debtors and Obligor Non-Debtors, as borrowers and guarantors under the Senior Secured Credit Facility, the Bridge Loan Facility and the 2015 Notes, entered into an intercreditor agreement dated as of December 20, 2007 (the “Intercreditor Agreement”) with, among others, the various agents and indenture trustees under such facilities and notes (as well as the ARCO Notes Trustee and the Equistar Notes Trustee).
The borrowings under the Senior Secured Credit Facility are secured by the Company's inventory and accounts receivable.
The Debtors have identified The Huntington National Bank (“Huntington Bank”) to provide its New Senior Secured Credit Facility.