Tranche B DIP Loans definition

Tranche B DIP Loans means all loans outstanding under the Tranche B
Sample 1
Tranche B DIP Loans. Each member of the ad hoc group of Prepetition Second Lien Noteholders (as defined below) as set forth on Schedule A hereto (the “Ad Hoc Group”) and/or one or more of their respective affiliates or related funds (in such capacity, together with their successors and permitted assignees, the “Tranche B DIP Lenders”, and together with the Tranche A DIP Lenders, the “DIP Lenders”).
Sample 1
Tranche B DIP Loans and together with the Tranche A DIP Loans, the “DIP Loans”). The commitments under the DIP Facility relating to the Tranche A DIP Loans are referred to herein as the “Tranche A DIP Commitments” and the commitments under the DIP Facility relating to the Tranche B DIP Loans are referred to herein as the “Tranche B DIP Commitments”. The Tranche A DIP Commitments and Tranche B DIP Commitments are referred to herein as the “DIP Commitments”. The DIP Loans will be made solely for the purposes set forth under “Use of Proceeds” below. The Debtors shall not be permitted to incur Tranche A DIP Loans in excess of $30.0 million without the prior written consent of the Tranche B DIP Lenders (excluding the payment of the Tranche A PIK Commitment Fee).
Sample 1

Examples of Tranche B DIP Loans in a sentence

  • 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.

  • Pursuant to the terms of the DIP Facility and the DIP Order, the Debtor had the option to convert (i) the Tranche A DIP Loans into unsecured exit financing, and (ii) the Tranche B DIP Loans into equity of the reorganized Debtor, in lieu of repaying the DIP Facility in full on the Effective Date (the “Conversion Options”).

  • 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.

  • Second, the Tranche B DIP Lenders have agreed to accept repayment in a manner that will preserve the Debtors’ liquidity; namely, the Debtors will have the option at emergence, subject to satisfying certain conditions precedent, to convert the total obligations outstanding on the Tranche B DIP Loans into equity of the reorganized Debtors.

  • Sometimes the boundaries are a result of conscious acts, sometimes of autonomous developments.

  • The feedback Seabury received after this initial round of Tranche A DIP solicitation was that (i) the Debtors did not have sufficient unencumbered collateral with which to secure a DIP financing that would be adequate to meet the Debtors’ liquidity needs and (ii) that the funding and subordination structure of the Tranche B DIP Loans as originally proposed was not acceptable to potential Tranche A lenders.

  • Wilmington Savings Fund Society, FSB or U.S. Bank, National Association (in such capacity as a common agent for the Tranche A DIP Loans and the Tranche B DIP Loans (each as defined below), together with its successors and assigns, the “DIP Agent”).

  • The commitments under the DIP Facility relating to the Tranche A DIP Loans are referred to herein as the “Tranche A DIP Commitments” and the commitments under the DIP Facility relating to the Tranche B DIP Loans are referred to herein as the “Tranche B DIP Commitments”.

  • 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).

  • All DIP Obligations in respect of the Tranche A DIP Loans shall be senior in right of payment to all DIP Obligations in respect of the Tranche B DIP Loans to the extent set forth in Section 7.08 of the DIP Credit Agreement and the DIP Intercreditor Arrangement.


More Definitions of Tranche B DIP Loans

Tranche B DIP Loans. A commitment fee of 3.00% of the Tranche B DIP Commitments payable in kind on the Closing Date. An annual administrative agency fee payable in cash to the DIP Agent on the Closing Date.
Sample 1
Tranche B DIP Loans. On the Effective Date, each Tranche B DIP Lender shall receive its pro rata share of (i) 100% of the Series A Preferred Stock, (ii) 50% of the Common Stock, (iii) Series A Warrants exercisable at the Series A Warrant Strike Price into 37.5% of the equity value of the Reorganized Debtors between the Series A Warrant Xxxxxx Price and the Series B Warrant Strike Price and (iv) Series B Warrants exercisable at the Series B Warrant Strike Price into 27.5% of the equity value of the Reorganized Debtors above the Series B Warrant Strike Price (each such term, as defined in the Restructuring Support Agreement). As used herein, the “Restructuring Support Agreement” means the Restructuring Support Agreement, dated on or about January 31, 2016 (including all exhibit, schedules and annexes thereto), among the Debtors, Xxxxxx F.X. Sillerman, the “Consenting Noteholders” referred to therein and the other parties thereto, as amended, supplemented or otherwise modified from time to time with the consent of the Required DIP Lenders.
Sample 1
Tranche B DIP Loans means the DIP Loans in the amount of up to $75 million to be provided by the Tranche B DIP Lenders under the DIP Facility.
Sample 1

Related to Tranche B DIP Loans

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

  • Tranche B Term Loans means Loans made or deemed made by the Tranche B Term Lenders pursuant to Section 2.01(b) or pursuant to Section 1 of the First Amendment to 2009 Credit Agreement.

  • Tranche A Loans means the Loans made pursuant to the Tranche A Commitment.

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

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

  • 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 A Term Loans means Loans made by the Tranche A Term Lenders pursuant to Section 2.01(a).

  • Revolving Loan Commitment Amount means, on any date, $30,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • 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.

  • 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 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 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.

  • 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 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.

  • Term Loan Committed Amount shall have the meaning set forth in Section 2.2(a).

  • Revolving Loans has the meaning set forth in Section 2.1(a).

  • Term Loan Commitment Amount means, with respect to each Lender, the sum of such Lender’s Term Loan Tranche 1 Commitment Amount and Term Loan Tranche 2 Commitment Amount.

  • Tranche B Term Loan as defined in Section 2.1.

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

  • Term A Loans has the meaning specified in Section 2.01(b).

  • 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.

  • Revolving 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 A Borrowing Base means, at any time of calculation, an amount equal to:

  • Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.

  • Tranche A Commitment means, with respect to each Lender, the commitment of such Lender to make Tranche A Loans hereunder as set forth on Schedule 2.01, or in the Assignment and Acceptance pursuant to which such Lender assumed its Tranche A Commitment, as applicable, as the same may be (a) reduced from time to time pursuant to Section 2.09, (b) increased from time to time pursuant to Section 2.26 and (c) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04.