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SEC Filings

8-K
NN INC filed this Form 8-K on 10/20/2015
Entire Document
 


Loan Parties” means, collectively, the Borrower and each Guarantor.

London Banking Day” means any day on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar market.

Material Adverse Effect” means a material adverse effect on (a) the business, assets, liabilities (actual or contingent), operations, condition (financial or otherwise) or prospects of the Borrower, (b) the business, assets, liabilities (actual or contingent), operations, condition (financial or otherwise) or prospects of the Borrower and its Subsidiaries, taken as a whole, (c) the ability of any Loan Party to perform its obligations under any Loan Document to which it is a party, or (d) the legality, validity, binding effect or enforceability against any Loan Party of any Loan Document to which it is a party.

Material Indebtedness Agreement” means any debt instrument, lease (capital, operating or otherwise), guaranty, contract, commitment, agreement or other arrangement evidencing or entered into in connection with any Indebtedness of the Borrower or any Subsidiary in excess of $30,000,000, including, without limitation, the New Notes Documents.

Material Real Property” means any real property owned by a Loan Party in fee simple or leasehold real property of a Loan Party that (a) has a fair market value of $7,500,000 or (b) is designated by the Borrower in accordance with Section 6.12(h).

Maturity Date” means (a) with respect to the Revolving Credit Facility, October 19, 2020, (b) with respect to the Initial Term Facility, October 19, 2022, and (c) with respect to any Incremental Term Facility, as determined in accordance with Section 2.14, in each case, if such maturity is extended pursuant to Section 10.01, such maturity date as determined pursuant to such Section; provided that, in each case, if such date is not a Business Day, the Maturity Date shall be the next preceding Business Day. Notwithstanding the foregoing, if more than $25,000,000 in aggregate principal amount of the New Notes remains outstanding (and not refinanced or replaced (including by amendment and extension) with Permitted Notes Refinancing Debt on the date that is 180 days prior to the applicable Maturity Date (such date, the “New Maturity Date”)), the Maturity Date with respect to the Revolving Credit Facility, the Initial Term Facility and any Incremental Term Facility shall be no later than the New Maturity Date. For the purposes of this definition, “Permitted Notes Refinancing Debt” means Indebtedness that (i) is not an obligation of any Subsidiary that is not a Loan Party, (ii) matures no earlier than 91 days after the then Latest Maturity Date at the time such Indebtedness is incurred, (iii) has no interim amortization, (iv) has no mandatory prepayments or offers to purchase that are materially more onerous, taken as a whole, than those contained as of the Closing Date in the New Notes, (v) has no other covenants and events of default that are materially more onerous, taken as a whole, to the Borrower and its Subsidiaries than those contained in the New Notes, (vi) to the extent such Indebtedness has the benefit of any assets of the Borrower or any Subsidiary of the Borrower as collateral, such Lien is on a junior basis to each Facility and (vii) is otherwise permitted to be incurred hereunder.

Minimum Collateral Amount” means, at any time, (i) with respect to Cash Collateral consisting of cash or deposit account balances provided to reduce or eliminate Fronting Exposure during the existence of a Defaulting Lender, an amount equal to 105% of the Fronting Exposure

 

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