New First Lien Term Loan Facility means a new senior secured term loan facility in the aggregate principal amount of $75,000,000, on terms consistent with the New Secured TL Term Sheet.
New First Lien Term Loan Facility means the first lien term loan facility, the terms of which shall be set forth in the New First Lien Term Loan Agreement, which shall be in the original principal amount of $1,000,000,000 and shall be funded by the New First Lien Lenders on the Effective Date.
New First Lien Term Loan Facility means the secured term loan facility or series of secured term loan facilities generally conforming to the "New Term Loan" described in the Offering Circular. For the avoidance of doubt, a "New First Lien Term Loan Facility" does not include any revolving credit facility.
Examples of New First Lien Term Loan Facility in a sentence
An up to $305 million senior secured asset-based revolving credit facility, on terms at least as favorable to the Debtors and the lenders under the New First Lien Term Loan Facility as the Prepetition ABL Facility, as determined by the Requisite Consenting Lenders (as defined herein) in their reasonable discretion.
If you are a partner of a partnership that is, or will be, a Holder of a Claim, the New Equity, or the New First Lien Term Loan Facility, then you should consult your own tax advisors.
Because the Plan provides that Holders of certain Claims will receive shares of the New Equity, the New First Lien Term Loan Facility, and/or the New ABL Facility, the amount of COD Income, and accordingly the amount of tax attributes required to be reduced, will depend on the fair market value of the New Equity, and the issue price of the New First Lien Term Loan Facility, and the New ABL Facility.
The following discussion assumes that each Holder of a Claim holds its New Equity or New First Lien Term Loan Facility, as applicable, as a “capital asset” within the meaning of Section 1221 of the IRC.
Each Holder of an Allowed Term Loan A Claim shall receive its Pro Rata share of: (i) $15,000,000 of Cash; (ii) Tranche B of the New First Lien Term Loan Facility; and (iii) Cash in the amount of any accrued but unpaid interest on the Term Loan A Claims measured through the Effective Date.
More Definitions of New First Lien Term Loan Facility
New First Lien Term Loan Facility means a takeback first lien term loan credit facility in an aggregate principal amount of $75,000,000.
New First Lien Term Loan Facility means that certain term loan facility to be provided either by (a) the DIP Term Facility Lenders, and/or (b) third parties acceptable to the Debtors and the Requisite Consenting Creditors, in each case, upon terms and conditions consistent with those set forth in the Restructuring Support Agreement and otherwise acceptable to the Requisite Consenting Creditors.
New First Lien Term Loan Facility the loans under such facility, the “New First Lien Term Loans,” and any all documents related thereto, the “New Term Loan Documentation”). The administrative agent and the collateral agent for the New First Lien Term Loan Facility shall be mutually reasonably acceptable to the Company and the Required Supporting Term Lenders in the event the Refinancing Loans (as defined below) are included as a separate tranche in the New First Lien Term Loan Facility. In the event the Refinancing Loans are governed by separate documentation from the New First Lien Term Loan Facility, the collateral agent for the New First Lien Term Loan Facility shall be mutually reasonably acceptable to the Company and the Required Supporting Term Lenders and the administrative agent for the New First Lien Term Loan Facility shall be reasonably acceptable to the Required Supporting Term Lenders and must qualify under Section 8.09 of the Existing Credit Agreement. For the avoidance of doubt, any indebtedness incurred in order to refinance the First Lien Revolver Loan Claims (the “Refinancing Loans”) may be included as a separate tranche in the New First Lien Term Loan Facility and, if so included, shall be subject to the same terms (other than economic terms) as the New First Lien Term Loans. Interest New First Lien Term Loans issued on account of First Lien Term Loan Claims maturing in 2024 shall accrue interest, from and after the Plan Effective Date, at a non-default rate equal to, at the Borrowers’ option, either LIBOR plus 525 bps, with a 75 bps LIBOR floor, or ABR plus 425 bps. New First Lien Term Loans issued on account of First Lien Term Loan Claims maturing in 2025 shall accrue interest, from and after the Plan Effective Date, at a non-default rate equal to, at the Borrowers’ option, either LIBOR plus 550 bps, with a 75 bps LIBOR floor, or ABR plus 450 bps.
New First Lien Term Loan Facility means a $280 million first lien senior secured term loan facility, composed of (i) the New First Lien Term Loan A-1 Tranche and (ii) the New First Lien Term Loan A-2 Tranche, the material terms of which are set forth in Exhibit B to the Restructuring Term Sheet and the forms of which shall be included in the Plan Supplement.
New First Lien Term Loan Facility means a new first lien term loan facility on the terms set forth on the New 1L Facilities Term Sheet attached as Exhibit B to the Restructuring Term Sheet, with a face amount equal to the face amount of (a) the DIP Term Loan Claims (including all PIK interest accrued thereunder through the Plan Effective Date) plus (b) the First Lien Term Loan Claims (including all PIK interest accrued thereunder through the Plan Effective Date).
New First Lien Term Loan Facility means the new term loan facility, to be entered into on the Closing Date, under which the Borrower shall issue the Exchange First Lien Loans. “Open Trade” means a transaction, agreement, or other arrangement, whether done through an oral or written confirmation, under which a Party to this Agreement is entitled or obligated to Transfer or receive a Transfer of any Existing Term Loans, with a trade date on or prior to the applicable date of determination. “Other Released Party” means each of: (a) the Consenting Term Lenders and each of their Affiliates; (b) the predecessors, successors, and assigns of each of the foregoing, and (c) the current and former officers, directors, members, managers, partners, employees, shareholders, agents, attorneys, financial advisors, and other representatives of each of the foregoing, in each case in their capacity as such. “Party” or “Parties” has the meaning set forth in the preamble hereof. “Permitted Transferee” has the meaning set forth in Section 7(a) hereof.
New First Lien Term Loan Facility means the term loan facility in an aggregate principal amount to be determined in accordance with Section V.B.1 pursuant to which holders of First Lien Term Loan Tranche A/B Claims will be deemed to have made term loans on the terms set forth on Exhibit I.A.115 and otherwise in accordance with the terms of the agreements governing the New First Lien Term Loan Facility.