DIP Credit Facility definition

DIP Credit Facility means that senior secured superpriority debtor in possession financing provided by the DIP Lenders pursuant to the DIP Loan and Security Agreement.

DIP Credit Facility means the commitment secured by the Debtors for debtor-in-possession financing from the post-petition lenders authorized in the Final DIP Order or any refinancing thereof, including but not limited to a refinancing whereby the refinancing lender takes an assignment of the DIP Credit Facility or the Claims of the Post-Petition Lenders thereunder.

DIP Credit Facility has the meaning assigned to such term in the recitals.

Examples of DIP Credit Facility in a sentence

• The Debtors and the DIP Lenders proposed and negotiated the terms of the DIP Credit Facility in good faith, at arm’s length, without collusion and with the intention that all obligations owed under the DIP Credit Facility would be valid claims accorded the priority and secured by the liens set forth herein.

• The parties to the DIP Credit Facility may, from time to time, enter into waivers or consents with respect thereto without further order of this Court.

• Except as provided in the DIP Credit Facility or as otherwise agreed to by the DIP Lenders, the Debtors shall not grant any liens on the Property junior to the DIP Liens.

• The priming of the liens securing obligations under the Owners’ Loan Agreement and the TARP Loan Agreement pursuant to section 364(d)(1) of the Bankruptcy Code, as described above, is necessary for the Debtors to obtain the critical financing provided by the DIP Credit Facility and to continue to operate their business.

• Given the Debtors’ current financial condition, available assets and current and projected liabilities, as well as current conditions in the automotive and credit markets, the Debtors are unable to obtain financing from any other lender on terms more favorable than those provided by the DIP Lenders in the DIP Credit Facility.

More Definitions of DIP Credit Facility

DIP Credit Facility or “DIP Credit” or “Facility” means the debtor-in-possession facility extended to the Borrower by the Lenders hereunder.

DIP Credit Facility means that certain Senior Secured Debtor-In- Possession Loan Agreement, as amended from time to time, by and between the Debtors and the DIP Lender, as approved by the DIP Order.

DIP Credit Facility means that certain Debtor-in-Possession Credit Agreement dated as of March 6, 2014 between the Issuer, as borrower, and the Note Guarantor, as lender, as amended, modified or supplemented.

DIP Credit Facility the debtor-in-possession financing facility provided pursuant to the Second Amended and Restated Loan and Security Agreement, dated as of March 15, 2005, among the Borrower, Spiegel, Inc., Spiegel Catalog, Inc., Ultimate Outlet, Inc. Newport News, Inc., Bank of America, N.A., as agent, Banc of America Securities LLC, as sole lead arranger and book manager, Fleet Retail Group, Inc. and The CIT Group/Business Credit, Inc, as co-syndication agents, General Electric Capital Corporation, as documentation agent, and the lenders from time to time party thereto, as amended, supplemented or otherwise modified, together with all instruments and other agreements entered into by the Borrower, any Debtor or any other Group Member in connection therewith.

DIP Credit Facility means that certain Financing Agreement, dated as of January 16, 2004, as amended on March 1, 2004, July 20, 2004, June 1, 2005, March 17, 2006, and January 25, 2007, among Solutia and Solutia Business Enterprises Inc, as borrowers, all of the other Debtors, as guarantors, Citicorp USA, Inc., as administrative, collateral and documentation agent, and Citibank, N.A., as Issuer, and the lenders party thereto, as the same may be amended from time to time prior to the Confirmation Date.

DIP Credit Facility means the debtor-in-possession credit facility governed pursuant to the terms set forth in the DIP Credit Agreement.

DIP Credit Facility means the credit facility pursuant to that certain Ratification and Amendment Agreement, dated as of November 6, 2013, as amended or modified from time to time.