DIP Agent Clause Samples
The DIP Agent clause designates a specific party to act as the agent for the Debtor-in-Possession (DIP) in bankruptcy proceedings. This agent is typically responsible for administering the DIP financing, coordinating communications between the debtor, lenders, and the court, and ensuring compliance with the terms of the DIP loan. By clearly identifying the DIP Agent and outlining their authority, this clause streamlines the management of DIP financing and helps prevent confusion or disputes among stakeholders during the bankruptcy process.
DIP Agent. Ankura Trust Company, LLC will act as administrative agent (in such capacity, the “DIP Administrative Agent”) and collateral agent (in such capacity, the “DIP Collateral Agent”, and together with the DIP Administrative Agent, collectively, the “DIP Agent”) for the DIP Lenders with respect to the DIP Facility and will perform the duties customarily associated with such roles.
DIP Agent. The DIP Agent is entering into this Guaranty solely in its capacity as DIP Agent under the Credit Agreement. All rights, privileges, protections and immunities (including, without limitation, the right to indemnification) in favor of the DIP Agent under the Order, the Credit Agreement and the other DIP Loan Documents shall be applicable to the DIP Agent under this Guaranty. It is understood that any reference to the DIP Agent taking any action, making any determinations, requests, directions, consents or elections, deeming any action or document reasonable, appropriate or satisfactory, exercising discretion, or exercising any rights or duties under this Guaranty shall be pursuant to written direction from the Required FBG Lenders.
DIP Agent. Wilmington Trust, National Association (the “DIP Agent”) shall act as administrative agent for the DIP Lenders under the DIP Facility. Existing Debt Arrangements/Prepetition Facility Prepetition Facilities: The Borrowers are party to:
DIP Agent. A financial institution selected by the Required DIP Lenders (as defined below) and reasonably acceptable to the Borrower shall act as the administrative agent and collateral agent under the DIP Facility (as defined below) (the “DIP Agent”) and will perform the duties customarily associated with such roles. The Borrower shall pay agency fees to the DIP Agent in an amount to be agreed between the Borrower and the DIP Agent.
DIP Agent. To be selected by the Majority DIP Lenders.
DIP Agent. GLAS USA LLC (“GLAS”) shall act as administrative agent and collateral agent for the DIP Facility (in such capacity, the “DIP Agent”) on behalf of the DIP Lenders (as defined below). Any action, exercise of remedies, approval, consent or similar action to be taken or not taken by the DIP Agent in respect of the DIP Facility shall only be taken (or not taken) as may be directed by the Required Lenders. The DIP Agent and the DIP Borrower shall enter into an agency fee letter providing for fees to be payable to the DIP Agent to be mutually agreed and reasonably acceptable to the Debtors.
DIP Agent. In its capacity as DIP Agent, the DIP Agent is a “representative” of the Secured Parties within the meaning of the term “secured party” as defined in the UCC. Each DIP Lender authorizes the DIP Agent to enter into each of the Collateral Documents to which it is a party and to take all action contemplated by such documents. Each DIP Lender agrees that no Secured Party (other than the DIP Agent, the DIP Agent or the Required DIP Lenders) shall have the right individually to seek to realize upon the security granted by any Collateral Document, it being understood and agreed that such rights and remedies may be exercised solely by the DIP Agent and the Required DIP Lenders for the benefit of the Secured Parties upon the terms of the Collateral Documents. In the event that any Collateral is hereafter pledged by any Person as collateral security for the Obligations, subject to this Agreement and the DIP Order, the DIP Agent is hereby authorized, and hereby granted a power of attorney, to execute and deliver on behalf of the Secured Parties any documents, necessary or appropriate to grant and perfect a Lien on such Collateral in favor of the DIP Agent and the DIP Agent on behalf of the Secured Parties.
DIP Agent. Wilmington Savings Fund Society, FSB.
DIP Agent