Take-Back Facility definition

Take-Back Facility means a take-back term loan facility, which shall be (a) in the aggregate principal amount and on the terms set forth in the First Lien Exit Facilities Term Sheet and (b) in all respects in form and substance acceptable to the Debtors and the Required Consenting BrandCo Lenders.
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Take-Back Facility and, the loans thereunder, the “Take-Back Term Loans”) and (ii) term loans in an aggregate principal amount resulting in the Borrower receiving $200.0 million in net proceeds (subject to any in-kind increases and reductions described under “Payment of Discounts/Premiums” below) (the “Incremental New Money Facility” and, together with the Take-Back Facility, the “First Lien Exit Facilities” and, the loans under the Incremental New Money Facility, the “Incremental New Money Term Loans” and, collectively with the Take-Back Term Loans, the “First Lien Exit Term Loans”). Once repaid, First Lien Exit Term Loans may not be reborrowed. Maturity Date The First Lien Exit Facilities will mature on the date that is 5 years following the Plan Effective Date (the “First Lien Maturity Date”). Use of Proceeds The proceeds of the Take-Back Term Loans will be used (or deemed to be used) to refinance and discharge BrandCo First Lien Guaranty Claims and BrandCo Second Lien Guaranty Claims, as set forth in the Plan. The proceeds of the Incremental New Money Term Loans will be used to make payments and distributions under the Plan and for general corporate purposes not otherwise prohibited by the First Lien Exit Facilities Documentation.
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Examples of Take-Back Facility in a sentence

  • First Lien Exit Facilities The Take-Back Facility and the Incremental New Money Facility.

  • Take-Back Term Loans The term loans to be issued under the Take-Back Facility.

  • Exit Facilities Collectively, (i) the First Lien Exit Facilities, consisting of the Take-Back Facility and the Incremental New Money Facility, or the Third-Party New Money Exit Facility, as applicable, (ii) the Exit ABL Facility, and (iii) the New Foreign Facility.

  • The employer shall be entitled to deduct monies owed by the employee to Avsec from any final payment.

  • Take-Back Facility A take-back term loan facility, which shall be (i) in the aggregate principal amount and on the terms set forth in the First Lien Exit Facilities Term Sheet and (ii) in all respects in form and substance acceptable to the Debtors and the Required Consenting BrandCo Lenders.