Exit First Lien Term Loan Facility definition

Exit First Lien Term Loan Facility means that certain $15 million first priority secured term loan facility to be provided by the Exit First Lien Term Loan Lender Parties to Reorganized Quoizel, in exchange for a like amount of ABL Claims, on terms and conditions acceptable to Quoizel, the Exit First Lien Term Loan Lender Parties, and the Initial Plan Sponsors; provided that, to the extent the remaining ABL Claims are not satisfied in full from the Upfront Cash Repayment and the ABL Priority Collateral Net Sale Proceeds by October 31, 2023, then the principal amount of the Exit First Lien Term Loans may be increased by up to $3.75 million at the election of the Exit First Lien Term Loan Facility Lender Parties.
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Exit First Lien Term Loan Facility means a new term loan facility in an aggregate principal amount equal to the sum of (a) the amount of DIP Term Loan Facility Claims (including all interest accrued thereunder through the Effective Date) plus (b) the amount of all First Lien Term Loan Claims (including all interest accrued thereunder through the Effective Date) pursuant to the Exit First Lien Term Loan Documents.​
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Examples of Exit First Lien Term Loan Facility in a sentence

  • On the Effective Date, Reorganized Quoizel and/or its designated affiliate and the Exit First Lien Term Loan Facility Lender Parties shall consummate the Exit First Lien Term Loan Facility on the terms, and subject to the conditions, set forth herein and otherwise acceptable to Reorganized Quoizel and the Exit First Lien Term Loan Facility Lender Parties.

  • The Exit First Lien Term Loan Facility, the Exit Second Lien Term Loan Facility, the Promissory Note, and any additional exit financing that may be obtained by Reorganized Quoizel, as determined by the Initial Plan Sponsors, and the New Organizational Documents are essential elements of the Plan, are necessary for Confirmation and Consummation of the Plan, and are critical to the overall success and feasibility of the Plan.

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  • He added that the objective of the workshop is to comprehend the need of mandating ECBC in the states, proposed ECBC implementation mechanism and understanding the existing regulatory framework followed by ULB, electricity suppliers.

  • Exit First Lien Term Loan Facility and Exit Second Lien Term Loan Facility.29 5.13 New Intercreditor Agreements.

  • The execution, delivery, or performance by the Debtors or Reorganized Quoizel, as applicable, of any of the Exit First Lien Term Loan Facility, the Exit Second Lien Term Loan Facility, the Promissory Note, or the New Organizational Documents, and any agreements related thereto and compliance by the Debtors or Reorganized Quoizel, as applicable, with the terms thereof is authorized by, and will not conflict with, the terms of the Plan or this Order.

  • Following the Effective Date, the Reorganized Debtors will have approximately $1,660 million of secured funded indebtedness composed of the Exit First Lien Term Loan Facility and Exit Second Lien Term Loan Facility, and will also have approximately $147.8 million of letters of credit issued under the Exit LC Facility.

  • As of the Effective Date, the Exit First Lien Term Loan Facility, the Exit Second Lien Term Loan Facility, and the Promissory Note shall constitute legal, valid, binding, and authorized obligations of Reorganized Quoizel and/or any successors, assigns, or transferees of the applicable Debtors or Reorganized Quoizel, including in connection with the Restructuring Transactions, enforceable in accordance with their terms.

  • Standard deviation within the technical replicates for representative data is shown.

  • The Exit First Lien Term Loan Facility and Exit Second Lien Term Loan Facility shall constitute legal, valid, binding and authorized joint and several obligations of the Reorganized Debtors, enforceable in accordance with their terms, and such obligations shall not be enjoined or subject to discharge, impairment, release, avoidance, recharacterization, or subordination under applicable law, the Plan or the Confirmation Order.

Related to Exit First Lien Term Loan Facility

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

  • First Lien Term Loans means the “Term Loans” (or any comparable term) as defined in the First Lien Credit Agreement.

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

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

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

  • Second Lien Term Loans means the “Term Loans” under and as defined in the Second Lien Credit Agreement.

  • 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.

  • Refinancing Term Loan Commitments shall have the meaning provided in Section 2.14(h).

  • Term Loan B has the meaning set forth in Section 2.2(b).

  • Existing Term Loan Facility means that certain Term Loan Credit Agreement, dated as of September 7, 2018, by and among the ProFrac Services LLC, as the borrower thereunder, Holdings, the guarantors party thereto, the lenders party thereto and Barclays Bank PLC, as the administrative agent and collateral agent (as amended, amended and restated, supplemented and otherwise modified from time to time, and together with the guarantee and security documentation executed in connection therewith).

  • Incremental Term Loan Facility has the meaning set forth in Section 2.16(a).

  • Exit Facility Credit Agreement means the credit agreement, Filed with the Plan Supplement, which credit agreement shall contain terms and conditions consistent in all respects with those set forth on the Exit Facility Term Sheet and, to the extent any terms and conditions are not set forth on or contemplated therein, such other terms and conditions as are acceptable to the Special Restructuring Committee and the Majority Noteholders in the manner set forth in the Restructuring Support Agreement.

  • 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

  • Term Loan Obligations means the “Obligations” as defined in the Term Loan Credit Agreement.

  • First Lien Last Out Loan means a loan that, prior to an event of default under the applicable Related Contract, is entitled to receive payments pari passu with other senior secured loans of the same Obligor, but following an event of default under the applicable Related Contract, such Collateral Loan becomes fully subordinated to other senior secured loans of the same Obligor and is not entitled to any payments until such other senior secured loans are paid in full.

  • Term Loan Credit Agreement shall have the meaning set forth in the recitals hereto.

  • Term Loan A has the meaning set forth in Section 2.2(a).

  • Term Loan Claims means any Claim on account of, arising under, derived from, or based upon the Term Loan Documents, including Claims for all principal amounts outstanding, interest, fees, expenses, costs, and other charges arising thereunder or related thereto.

  • Refinancing Term Commitments means one or more term loan commitments hereunder that fund Refinancing Term Loans of the applicable Refinancing Series hereunder pursuant to a Refinancing Amendment.

  • First Lien Credit Agreement has the meaning set forth in the recitals hereto.

  • Term Loan Collateral means all assets, whether now owned or hereafter acquired by any Loan Party, in which a Lien is granted or purported to be granted to any Term Loan Secured Party as security for any Term Loan Obligation.

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.7.

  • Additional First Lien Obligations means, with respect to any Series of Additional First Lien Obligations, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Additional First Lien Obligations, (b) all other amounts payable to the related Additional First Lien Secured Parties under the related Additional First Lien Documents and (c) any renewals of extensions of the foregoing.

  • ABL/Term Loan Intercreditor Agreement as defined in the recitals hereto.

  • Refinancing Term Loans shall have the meaning assigned to such term in Section 2.21(j).

  • Specified Refinancing Term Loans means Specified Refinancing Debt constituting term loans.