Examples of RBL Loans in a sentence
Requisite Lenders means, as of the date of determination, Consenting Lendersholding at least a majority in amount of the outstanding principal amount of the RBL Loans (as defined in the RBL Plan Support Agreement).
To the extent the Existing RBL Loans shall not have become Roll-Up Loans, the Debtors shall, as and when due pursuant to the Existing RBL Credit Documents, pay to the Existing RBL Secured Parties all post-petition interest at the non-default rate specified in such Existing RBL Credit Documents and (subject to paragraph (iv) below) fees accruing under the Existing RBL Credit Documents (the payments described in (i) – (iii), the “ Existing RBL Adequate ProtectionPayments”).
Available at http://www.publications.parliament.uk/pa/ld/ldtoday/writtens/230913.htm person’s civil rights and obligations, where withholding of legal aid would make assertion of a claim practically impossible or there would be an obvious unfairness).
If, however, they do not wish to “bank” that cash and would, instead, prefer to use it to paydown debt—thus reducing their continued “carrying” costs related to the Prepetition RBL Loans (and, in turn, the amount of exit financing needed to consummate a plan of reorganization) —the roll-up affords them flexibility to do so.
Loans (as defined in the DIP Credit Agreement) made to effect the Roll-Up shall be included in the DIP Obligations, and a portion of the Prepetition RBL Loans and the pro rata share of the J.
As of the Petition Date and after giving effect to the prepetition cash sweep, the aggregate principal amount of outstanding Prepetition RBL Loans under the Prepetition RBL Facility was approximately $113,977,143.756 (the “Prepetition RBL Claim”).
As of the Petition Date, the aggregate principal amount of outstanding Prepetition RBL Loans under the Prepetition RBL Facility was approximately $113,977,143.754 (the, “ Prepetition RBL Claim”), plus any and all interest, fees, costs, expenses, charges, and otherclaims, debts, or obligations of the Debtors to the Prepetition Agent and the Prepetition Lenders.
Importantly, there is no increase in the cost of capital for Prepetition RBL Loans rolled-up into the DIP Facility.
The Debtors rationalize that the roll-up has no adverse impact upon the Debtors’ estates because it is economically neutral (if not beneficial), the liens securing the RBL Loans are allegedly perfected and the RBL Loans are significantly over-secured.
As of the Petition Date, the aggregate principal amount of outstanding Prepetition RBL Loans under the Prepetition RBL Facility was not less thanapproximately $115.0 million3 (collectively with the Citizens Hedge Early Termination Claim (as defined below) and accrued and unpaid interest and fees on such obligations, the “ Prepetition RBLObligations”).