Sentences with phrase «first out abl»

First, the first out ABL lenders under the 2013 credit agreement objected by claiming that under their applicable AAL, Standard General as last out lender under that facility was precluded from submitting a credit bid if any obligations to the first out ABL lenders remained outstanding.

The first out ABL lenders sought full payment for contingent indemnification claims and certain expenses as a condition to a credit bid by Standard General, its counterparty under the 2013 credit agreement AAL.