Extract to table

The Facility is structured as a 364-day bridge facility, which means it is designed to serve as temporary financing that must be taken out by permanent financing or repaid within 364 days of the funding date

As noted above, the Commitment Letter includes a mandatory refinancing requirement pursuant to which Halcyon must use commercially reasonable efforts to refinance the bridge facility within 180 days of the Funding Date

Net cash proceeds from asset sales or other dispositions by the surviving entity or its subsidiaries exceeding $25 million in any fiscal year must be applied to prepay the term loan, subject to customary reinvestment rights (i

Net cash proceeds from the issuance of debt by the surviving entity or its subsidiaries (other than debt constituting "permitted refinancing" of the Facility or other permitted indebtedness under the credit agreement) must be applied to prepay the term loan

50% of the excess cash flow (as defined in the credit agreement, generally meaning operating cash flow less capital expenditures, debt service, and certain other permitted uses) for each fiscal year must be applied to prepay the term loan, provided that the leverage ratio of the borrower exceeds 3

Conditions Precedent to Funding The Commitment Letter sets forth conditions that must be satisfied (or waived by Meridian Atlantic) prior to the funding of the Facility