Tranche B DIP Facility definition

Tranche B DIP Facility and together with the Tranche A DIP Facility, the “DIP Facility”). The DIP Facility will include the ability for the Company to request that the Tranche B DIP Facility be upsized in an amount of up to $10 million, provided that such upsize amount is uncommitted and shall be on terms and conditions acceptable to the Company and the DIP Lenders (the “Incremental Tranche B Loans”). The Tranche B DIP Facility may also include a provision for a letter of credit facility at the option of the DIP Lenders and the Company. The DIP Facility shall provide for the repayment of all outstanding amounts due and payable under (x) the Amended and Restated Credit Agreement, dated as of September 17, 2015 (as the same may be further amended, restated, supplemented or modified from time to time (the “Credit Agreement)) and (y) the Facility Agreement, dated January 14, 2016 by and between SFXE Netherlands Holdings Coöperatief U.A., as Borrower and Catalyst Media Coöperatief U.A., as Facility Agent and Security Agent (the “Foreign Loan Agreement”). The definitive documentation governing the DIP Facility (including, without limitation, the credit agreement and all documents, exhibits, supplements, instruments, filings executed or delivered in connection therewith or related thereto), the motion and proposed form of order, and any order entered by the Bankruptcy Court in respect of the DIP Facility, shall each be in form and substance consistent in all respects with the DIP Term Sheet and, as applicable, the Restructuring Support Agreement or otherwise acceptable in form and substance to the Requisite Noteholders and the Company. The Company may sell certain assets during the pendency of the Chapter 11 Cases with the consent of the DIP Lenders, which consent shall not be unreasonably withheld or delayed (an “Asset Sale”). All net cash proceeds from Asset Sales may be used by the Company, with the consent of the DIP Lenders, to fund operating expenditures upon the terms and conditions set forth in the Restructuring Support Agreement and the DIP Facility. Any net cash proceeds from Asset Sales that are not permitted by the DIP Lenders to be used to fund operating expenditures may be used to reduce the outstanding balance of the Tranche A DIP Facility. For the avoidance of doubt, in no event may any net cash proceeds from Asset Sales (or excess cash) be used to reduce the outstanding balance of the Tranche B DIP Facility.
Sample 1
Tranche B DIP Facility means the last-out tranche provided after the Petition Date under the DIP Credit Documents, which also includes any borrowings incurred as Incremental Foreign Loans, plus the Incremental Tranche B DIP Accordion.
Sample 1
Tranche B DIP Facility means the last-out tranche provided after the
Sample 1

Examples of Tranche B DIP Facility in a sentence

  • For the avoidance of doubt, to the extent any holder of an Allowed Tranche B DIP Facility Claim has (a) a Claim for deficiency arising out of, or related to, the Tranche B DIP Obligations or (b) a Claim for adequate protection arising out of, or related to, the Tranche B DIP Obligations against any Debtor, such Claims shall be deemed waived as of the Effective Date, and such holder shall not be entitled to any distributions under the Plan on account of such Claims.

  • As set forth above, the Tranche A DIP Facility will convert to unsecured debt maturing approximately 5 years after the anticipated Effective Date, and the Tranche B DIP Facility will convert into 79.5% of the New Common Stock of the Reorganized Debtor, which, as demonstrated by the Valuation Analysis attached hereto as Exhibit E represents the amount of the Claims arising under the Tranche B DIP Loans.

  • While Jefferies’ revised proposals addressed some 7/30/20 Hr’g Tr. at 134:15-24.of the Debtors’ economic and non-economic concerns, many issues still remained unresolved with the Further Amended Jefferies Commitment, including, as noted above, conditionality to funding, the requirement to maintain cash minimums within the United States, and limits on governmental funding under the Tranche B DIP Facility.

  • An additional $2.0 million was drawn from the Tranche B DIP Facility on July 13, 2016 to provide an intercompany loan to certain non-Debtor subsidiaries in Brazil.

  • Seabury also continued to solicit interest from otherlenders in the Tranche B DIP Facility to provide the necessary new money thereunder or to serve as alternative lenders for the full $700 million of Tranche B DIP Loans.

  • The equity conversion option is critical not only to the Debtors and their ability to maintain flexibility in structuring their plan of reorganization, but also to the Tranche A DIP Lenders since many of the Tranche A DIP Facility Lenders’ commitments to fund were based on the Debtors’ ability to eventually equitize the Tranche B DIP Facility, inclusive of accrued fees and PIK interest.

  • On the Effective Date, Reorganized SFXE shall be authorized, without further act or action under applicable law, regulation, order or rule, and without further corporate proceedings or action, to issue shares of New Series A Preferred Stock pursuant to the New Series A Preferred Stock Certificate to the Holders of Tranche B DIP Facility Claims and Class 3 Claims.

  • The Tranche A DIP Facility Claims, the Tranche B DIP Facility Claims (including the Incremental Tranche B DIP Accordion Claims) and the Original Foreign Loan Claims are hereby Allowed in the amounts set forth in Section 3.01(c)(i), Section 3.01(c)(ii) and Section 3.02(c) of the Plan, respectively.

  • GS has been tasked with, and has already undertaken a significant amount of work toward, arranging a US $900 million Tranche A DIP Facility to complement a US $700 million Tranche B DIP Facility currently being negotiated with certain of the Debtors’ prepetition lenders and/or other prospective third party lenders.

  • The Debtors are authorized to borrow the full amount of the Tranche B DIP Loans from the Tranche B DIP Lenders under the Tranche B DIP Facility, subject to the terms and conditions set forth in this Final Order and the DIP Documents (including the borrowing schedule set forth in Section 2.05 of the DIP Credit Agreement).

Related to Tranche B DIP Facility

  • Tranche B Facility means the aggregate of the Tranche B Commitments.

  • Tranche A Facility means the aggregate of the Tranche A Commitments.

  • Term Loan Facility means the Term Loan Commitments and the provisions herein related to the Term Loans.

  • Tranche B Term Loan Commitments means such commitments of all Lenders in the aggregate. The amount of each Lender’s Tranche B Term Loan Commitment, if any, is set forth on Appendix A-2 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Tranche B Term Loan Commitments as of the Third Restatement Date is $600,000,000.

  • Tranche C Term Loan Commitment means the commitment of a Lender to make a Tranche C Term Loan to Company pursuant to subsection 2.1A(iii), and "Tranche C Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Tranche B Term Loan Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan to the Borrower hereunder in a principal amount equal to the amount set forth on Schedule 1.01(b) (or in the case of any Continuing Tranche B Term Loan Lender, the amount of its Existing Tranche B Term Loan continued as a Tranche B Term Loans (as specified in its Term Loan Lender Addendum) pursuant to Section 2.01(b)(i).

  • Tranche B Term Loan Exposure means, with respect to any Lender, as of any date of determination, the outstanding principal amount of the Tranche B Term Loans of such Lender.

  • Tranche A Term Loan Commitment means the commitment of a Lender to make a Tranche A Term Loan to Company pursuant to subsection 2.1A(i), and "Tranche A Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Tranche B Loans means loans made pursuant to Section 2.1(a)(ii).

  • Tranche B Loan has the meaning specified in Section 2.01(b).

  • Term Loan Facilities means the Term Loan A Facility and the Term Loan B Facility.

  • Tranche C Commitment means, as to each Lender, its obligation to (a) make Committed Loans to TFA pursuant to Section 2.1(c) and (b) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.1 as its “Tranche C Commitment” or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Incremental Revolving Facility Commitment means the commitment of any Lender, established pursuant to Section 2.21, to make Incremental Revolving Loans to the Borrower.

  • Tranche A Term Loan Lender each Lender that has a Tranche A Term Loan Commitment or is the holder of a Tranche A Term Loan.

  • Tranche C Loan has the meaning specified in Section 2.01(c).

  • Delayed Draw Term Loan Commitment means the Lender’s obligation to make the Delayed Draw Term Loan to the Borrower pursuant to Section 2.01(a), as such amount may be adjusted from time to time in accordance with this Agreement.

  • Term Facility Commitment means the commitment of a Lender to make Term Loans, including Term B Loans and/or Other Term Loans.

  • Tranche B Term Loan Lender each Lender that has a Tranche B Term Loan Commitment or is the holder of a Tranche B Term Loan.

  • New Term Loan Facility means the facility providing for the Borrowing of New Term Loans.

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.15(a)(ii).

  • Loan Facility means the Revolving Loan Facility, the Transaction Specific Loan Facility or the Transaction Specific Revolving Loan Facility established by Lender in favor of Borrower under the Loan Documents.

  • Delayed Draw Commitment means, as to each Lender, its obligation to make Delayed Draw Loans to the Borrower pursuant to Section 2.01(b) in an aggregate principal amount not to exceed the amount set forth opposite such Lender’s name on Schedule 1.01(b) under the caption “Delayed Draw Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. The aggregate Delayed Draw Commitments of all of the Lenders on the Closing Date shall be $150,000,000.

  • Tranche B Commitment means, as to each Lender, its obligation to (a) make Committed Loans to TCCI pursuant to Section 2.1(b) and (b) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.1 as its “Tranche B Commitment” or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Term Loan B Commitment means, with respect to each Lender, its Term Loan B Commitment, and, with respect to all Lenders, their Term Loan B Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Total Facility B Commitments means the aggregate of the Facility B Commitments, being €30,000,000 at the date of this Agreement.