New First Lien Term Loans definition

New First Lien Term Loans means the term loans advanced or deemed advanced to the Reorganized Debtors under the New First Lien Facility either as the Initial New First Lien Term Loan or the Additional New First Lien Term Loans.
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New First Lien Term Loans means the loans issued under the New First Lien Term Loan Facility. 116.“New Organizational Documents” means, collectively, the new organizational documents of theRestructured Debtors, including, but not limited to, the New Shareholders Agreement, and thecertificates of incorporation, bylaws, limited liability agreements, stockholders or similar agreements, operating agreements, charters, and other formation or constituent documents, as applicable, for19-23774-rdd Doc38 Filed 1100//2234//1199 Entered 1100//2234//1199 1262::2511::5172 Pg 5148 of 114363Main Document Restructured Holdings, Restructured DESG and each of its direct or indirect subsidiaries, including, Creative Intermediate Holdco and Distribution Intermediate Holdco, each of which shall be in form and substance acceptable to the Debtors and the Requisite Consenting Creditors. 117.“New Shareholders Agreement” means the stockholders agreement, partnership agreement, or limited liability company agreement, as applicable, with respect to Restructured Holdings and the Restructured DESG Equity Interests, which agreement shall be effective as of the Effective Date, and the terms of which shall be in form and substance acceptable to the Debtors and the Requisite Consenting Creditors. 118.“New Second Lien Term Loan Facility” means that certain term loan facility to be provided either by
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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.
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Examples of New First Lien Term Loans in a sentence

  • No amortization of the New First Lien Term Loans shall be required until after the date falling three (3) years from the Effective Date.

  • At Reorganized Holdings’ option, until the date falling three (3) years after the Effective Date, the payment of interest on the New First Lien Term Loans may be satisfied through the payment-in- kind issuance of Additional New First Lien Term Loans.

  • FINANCIAL BRIDGE TO CONSUMMATION OF PLAN Assuming the Plan is confirmed, the Plan provides for a New First Lien Facility under which (1) the Senior Credit Facility Lenders will receive $25.5 million in aggregate principal amount of Initial New First Lien Term Loans and (2) the New First Lien Facility Lenders will make available to Restructured Knight up to $30 million in aggregate principal amount of advances of Additional New First Lien Term Loans.

  • The New First Lien Term Loans will have a maturity date of five(5) years from the Effective Date and will bear interest at an annual rate of 8.5%.

  • The holding period for the New First Lien Term Loans should include the holding period for the Existing Term Loans transferred, except to the extent treated as received for accrued but unpaid interest.

  • Envision expects to take the position that the receipt by the Holders of the New First Lien Term Loans will qualify as a recapitalization under Section 368(a)(1)(E) of the Internal Revenue Code of 1986, as amended (the “ Code”).

  • Envision is taking the position that each of the Existing Term Loans and the New First Lien Term Loans qualifies as a security for U.S. federal income tax purposes.See below for additional information on the quantitative effect of the Transaction for the Holders.

  • Accordingly, a Holder should receive an aggregate tax basis in the New First Lien Term Loans held by it equal to its aggregate tax basis in its Existing Term Loans transferred, plus the portion of New First Lien Term Loans treated as received in satisfaction of accrued but unpaid interest (or OID) on the Existing Term Loans.

  • The New First Lien Term Loans will have a maturity date of five (5) years from the Effective Date and will bear interest at an annual rate of 8.5%.

  • Envision expects to take the position that, for any issuance of New First Lien Term Loans (the “ 2018 New First Lien Term Loans”) the proceeds thereof are used to repurchase the 2018 Third Out Tranche (as defined below), such exchange will qualify as a recapitalization under Section 368(a)(1)(E) of the Internal Revenue Code of 1986, as amended (the “Code”).


More Definitions of New First Lien Term Loans

New First Lien Term Loans and the holders thereof referred to as the “New First Lien Lenders”). New First Lien Term Loans that are prepaid may not be reborrowed. Use of Proceeds A portion of the First Lien Credit Agreement Loans in the principal amount of $75 million will be converted dollar-for-dollar into the New First Lien Term Loans on the Closing Date. Closing Date The date on which the New First Lien Term Loans are issued under the New First Lien Term Loan Facility and the Restructuring Transaction is consummated pursuant to the Plan (the “Closing Date”). Maturity The date that is 5 years after the Closing Date (the “Maturity Date”).
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New First Lien Term Loans means the $687.0 million and €200.0 million term loans established under the Senior Secured Facilities Agreement and drawn on or about the Issue Date.
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New First Lien Term Loans in an aggregate original principal amount equal (x) the aggregate outstanding principal amount of the DIP Facility on the Plan Effective Date (as defined in the Transaction Support Agreement) less (y) the DIP Paydown Amount (as defined in the Chapter 11 Term Sheet). On the Plan Effective Date, each holder of DIP Facility Claims shall receive its pro rata share of the New First Lien Term Loans, as and to the extent set forth in the “Classification and Treatment of Claims” section of the Chapter 11 Term Sheet. No actual funding shall occur on the Plan Effective Date in respect of the New First Lien Term Loans. Once repaid or prepaid, no portion of the New First Lien Term Loans may be reborrowed.
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New First Lien Term Loans means, collectively, the New First Lien Tranche A Term Loans and New First Lien Tranche B Term Loans.
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New First Lien Term Loans means (x) a new term B loan credit facility anticipated to be in an aggregate principal amount of approximately $448,068,099.40 million and(y) a new term C facility anticipated to be in an aggregate principal amount of approximately$54 million, in each case made available to Reorganized MACH Gen pursuant to the New First Lien Facilities Documents.
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New First Lien Term Loans as defined in Section 2.24.
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Related to New First Lien Term Loans

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

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

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

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

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

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

  • 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.

  • First Lien Loans means the loans made under the First Lien Credit Agreement.

  • Incremental Term Loan Borrowing Date means, with respect to each Tranche of Incremental Term Loans, each date on which Incremental Term Loans of such Tranche are incurred pursuant to Section 1.01(c) and as otherwise permitted by Section 1.14.

  • Refinanced Term Loans shall have the meaning provided in Section 13.1.

  • 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.

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

  • Refinancing Term Lender has the meaning specified in Section 2.15(c).

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

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

  • 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.

  • Term Loans as defined in Section 2.1.

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

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

  • Other Term Loan Commitments means one or more Classes of term loan commitments hereunder that result from a Refinancing Amendment.

  • New Term Loans as defined in Section 2.24.

  • Tranche B Term Loan Lender means a Lender with a Tranche B Term Loan Commitment or an outstanding Tranche B Term Loan.

  • Tranche A Term Loan Lender means a Lender with a Tranche A Term Loan Commitment or an outstanding Tranche A Term Loan.

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

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

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