CIT Facility definition

CIT Facility is defined in the preamble.

CIT Facility means that certain Master Loan and Security Agreement, dated as of January 23, 2014, as amended, restated, modified, supplemented or replaced from time to time prior to the Petition Date, between Alpha Hunter Drilling, LLC and CIT Finance LLC, as lender, including Schedule No. 1 thereunder (as amended, restated, modified, supplemented, or replaced from time to time prior to the Petition Date).

CIT Facility means the financing provided by CIT Business Credit Canada Inc. pursuant to an amended and restated financing agreement between Tembec Industries, TEI and CIT Business Credit Canada Inc. and others dated May 30, 2007, as the same is amended or restated from time to time.

Examples of CIT Facility in a sentence

• If the Borrower pays any consent fee or waiver fee or provides any other inducement (financial, collateral or otherwise) with respect to any amendment, modification, waiver or consent of the financial maintenance covenant currently set out in Section 7.4(b) of the CIT Facility or of any additional financial maintenance covenant added to the Senior Credit Facility, the same fee (or other inducement) shall be payable to the Administrative Agent on behalf of the New Lenders under the New Loan.

• Each DIP Facility was secured by liens on substantially all of the assets of the Debtors (as well as the capital stock of CSC held by Cityscape), subject to the Carve-Out and to pre-existing valid and perfected liens (including the liens securing the Greenwich Facility and the CIT Facility).

• Net proceeds are estimated at $283 million of which $52 million will be used to repay the CIT Facility and the balance will be used for capital expenditures and general corporate purposes.

• The Debtors used the funds provided by CIT to repay all amounts outstanding under the prepetition CIT Facility and to operate their business during the pendency of the Reorganization Cases.

• Letters evidencing the discharge and release of all obligations, security interests and liens under (i) the Override Agreement, duly executed by The First National Bank of Boston, as agent for the lenders named in the Override Agreement, and each of such lenders individually; and (ii) the CIT Facility, duly executed by CIT.

More Definitions of CIT Facility

CIT Facility means that certain revolving credit facility entered into by CSC with The CIT Group/Equipment Financing, Inc. on February 3, 1998, as amended through the date hereof, which facility is guaranteed by Cityscape.

CIT Facility means the asset-based loan facility, secured by a first priority security interest in all property, assets and undertaking of CMI, including the DIP Charge, and the guarantors named in the CIT Credit Agreement, including its conversion to a debtor-in-possession financing arrangement pursuant to the Initial Order.

CIT Facility means the Purchase Agreement dated as of June 10, 1997 between JAIX Leasing and CIT Group/Equipment Financing, Inc., as the same may be amended from time to time.

CIT Facility means the Credit Agreement, as it may be amended, modified, replaced or refinanced from time to time, provided that any such amendment, modification, replacement or refinancing must (i) involve CIT or another bank or institutional asset based lender of national repute, (ii) be on terms and conditions that are no less favorable than those of the Credit Agreement, and (iii) provide for an aggregate amount of indebtedness that does not exceed the maximum amount of indebtedness outstanding under the CIT Facility (as it may have previously been amended, modified, replaced or refinanced) during the twelve (12) month period immediately prior to the closing of such amendment, modification, replacement or refinancing.

CIT Facility means the Financing Agreement between the CIT Group/Commercial Services, Inc. (“CIT”) as Lender and Ascendia Brands Co., Inc., as borrower, in form and substance reasonably satisfactory to the Required Holders prior to the execution of any such Facility; provided, however, that (i) the aggregate outstanding amount of such Indebtedness permitted hereunder (taking into account the maximum amounts which may be advanced under the loan documents evidencing the CIT Facility) does not at any time (i) exceed $13,000,000; (ii) provide at any time for total interest and fees at a rate in excess of LIBOR plus 2.25%; or (iii) provide for such Indebtedness to be secured by any property or assets of the Company and its Subsidiaries other than inventory located in the United States and accounts receivable.

CIT Facility means the Revolving Credit Agreement, dated as of July 8, 1995, between CIT and Borrower, as amended.

CIT Facility means any financing facility between the Borrower and CIT or the Guarantor and CIT entered into on or after the Petition Date.