Common use of Financing Issues Clause in Contracts

Financing Issues. If the Company or any other Grantor shall be subject to any Insolvency or Liquidation Proceeding and the Credit Agent shall desire to permit the use of cash collateral or to permit the Company or any other Grantor to obtain financing under Section 363 or Section 364 of Title 11 of the United States Code or any similar Bankruptcy Law (“DIP Financing”), then the Trustee, on behalf of itself and the Noteholders, agrees that it will raise no objection to such use of cash collateral or DIP Financing and will not request adequate protection or any other relief in connection therewith (except to the extent permitted by Section 6.3). To the extent the Liens securing the Credit Agreement Obligations are subordinated or pari passu with such DIP Financing, the Trustee, for and on behalf of itself and the Noteholders, hereby agrees that its Liens in the Collateral shall be subordinated to such DIP Financing (and all Obligations relating thereto) on the same basis as the other Liens securing the Note Obligations are so subordinated to Credit Agreement Obligations under this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (GXS Corp)

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Financing Issues. If the either Company or any other Grantor shall be subject to any Insolvency or Liquidation Proceeding and the Credit Agent shall desire to permit the use of cash collateral or to permit the either Company or any other Grantor to obtain financing under Section 363 or Section 364 of Title 11 of the United States Code or any similar Bankruptcy Law ("DIP Financing"), then the Trustee, on behalf of itself and the Noteholders, agrees that it will raise no objection to such use of cash collateral or DIP Financing and will not request adequate protection or any other relief in connection therewith (except to the extent permitted by Section 6.3). To ) and, to the extent the Liens securing the Credit Agreement Obligations Senior Lender Claims are subordinated or pari passu with such DIP Financing, the Trustee, for and on behalf of itself and the Noteholders, hereby agrees that will subordinate its Liens in the Common Collateral shall be subordinated to such DIP Financing (and all Obligations relating thereto) on the same basis as the other Liens securing the Note Obligations Noteholder Claims are so subordinated to Credit Agreement Obligations Senior Lender Claims under this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (On Semiconductor Corp)

Financing Issues. If the Company or any other Grantor shall be subject to any Insolvency or Liquidation Proceeding and the Credit Agent shall desire to permit the use of cash collateral or to permit the Company or any other Grantor to obtain financing under Section 363 or Section 364 of Title 11 of the United States Code or any similar Bankruptcy Law ("DIP Financing"), then the Trustee, on behalf of itself and the Noteholders, agrees that it will raise no objection to such use of cash collateral or DIP Financing and will not request adequate protection or any other relief in connection therewith (except to the extent permitted by Section 6.3). To ) and, to the extent the Liens securing the Senior Lender Claims under the Senior Credit Agreement Obligations or, if no Senior Credit Agreement exists, under the other Senior Lender Documents are subordinated or pari passu with such DIP Financing, the Trustee, for and on behalf of itself and the Noteholders, hereby agrees that will subordinate its Liens in the Common Collateral shall be subordinated to such DIP Financing (and all Obligations relating thereto) on the same basis as the other Liens securing the Note Obligations Noteholder Claims are so subordinated to Credit Agreement Obligations Senior Lender Claims under this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Pierson Industries Inc)

Financing Issues. If the Company any Borrower or any other Grantor Guarantor shall be subject to any Insolvency or Liquidation Proceeding and the Credit Senior Agent shall desire to permit the use of cash collateral or to permit the Company or any other Grantor Borrower to obtain financing under Section section 363 or Section section 364 of Title 11 of the United States Bankruptcy Code or any similar Bankruptcy Law ("DIP Financing"), then the Trustee, on behalf of itself and the Noteholders, agrees that it will raise no objection to such use of cash collateral or DIP Financing and will not request adequate protection or any other relief in connection therewith (except to the extent permitted by Section 6.3). To ) and, to the extent the Liens securing the Credit Agreement Obligations Senior Lender Claims are subordinated or pari passu with such DIP Financing, the Trustee, for and on behalf of itself and the Noteholders, hereby agrees that will subordinate its Liens in the Common Collateral shall be subordinated to such DIP Financing (and all Obligations relating thereto) on the same basis as the other Liens securing the Note Obligations Noteholder Claims are so subordinated to Credit Agreement Obligations Senior Lender Claims under this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Rent Way Inc)

Financing Issues. If the Company or any other Grantor Maker shall be subject to any Insolvency or Liquidation Proceeding and the Credit Agent Senior Lender shall desire to permit the use of cash collateral or to permit the Company or any other Grantor Maker to obtain financing under Section 363 or Section 364 of Title 11 of the United States Code or any similar Bankruptcy Law (“DIP Financing”), then the Trustee, on behalf of itself and the Noteholders, Seller agrees that it will raise no objection to such use of cash collateral or DIP Financing and will not request adequate protection or any other relief in connection therewith (except to the extent permitted by Section 6.3). To ) and, to the extent the Liens securing the Credit Agreement Obligations Senior Lender Claims are subordinated or pari passu with such DIP Financing, the Trustee, for and on behalf of itself and the Noteholders, hereby agrees that will subordinate its Liens in the Common Collateral shall be subordinated to such DIP Financing (and all Obligations relating thereto) on the same basis as the other Liens securing the Note Obligations Seller Claims are so subordinated to Credit Agreement Obligations Senior Lender Claims under this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Bio Key International Inc)

Financing Issues. If the Company any Borrower or any other Grantor Guarantor shall be subject to any Insolvency or Liquidation Proceeding and the Credit Senior Agent shall desire to permit the use of cash collateral or to permit the Company or any other Grantor Borrower to obtain financing under Section section 363 or Section section 364 of Title 11 of the United States Bankruptcy Code or any similar Bankruptcy Law (“DIP Financing”), then the TrusteeBridge Agent, on behalf of itself and the NoteholdersBridge Lenders, agrees that it will raise no objection to such use of cash collateral or DIP Financing and will not request adequate protection or any other relief in connection therewith (except to the extent permitted by Section 6.3). To ) and, to the extent the Liens securing the Credit Agreement Obligations Senior Lender Claims are subordinated or pari passu with such DIP Financing, the Trustee, for and on behalf of itself and the Noteholders, hereby agrees that will subordinate its Liens in the Common Collateral shall be subordinated to such DIP Financing (and all Obligations relating thereto) on the same basis as the other Liens securing the Note Obligations Bridge Lenders Claims are so subordinated to Credit Agreement Obligations Senior Lender Claims under this Agreement.

Appears in 1 contract

Samples: Bridge Facility Intercreditor Agreement (Acg Holdings Inc)

Financing Issues. If the Company Borrower or any other Grantor shall be subject to any Insolvency or Liquidation Proceeding and the Credit Senior Agent shall desire to permit the use of cash collateral or to permit the Company Borrower or any other Grantor to obtain financing under Section 363 or Section 364 of Title 11 of the United States Code or any similar Bankruptcy Law ("DIP Financing"), then the Trustee, on behalf of itself and the Noteholders, agrees that it will raise no objection to such use of cash collateral or DIP Financing and will not request adequate protection or any other relief in connection therewith (except to the extent permitted by Section 6.3). To ) and, to the extent the Liens securing the Credit Agreement Obligations Senior Lender Claims are subordinated or pari passu with such DIP Financing, the Trustee, for and on behalf of itself and the Noteholders, hereby agrees that will subordinate its Liens in the Collateral shall be subordinated to such DIP Financing (and all Obligations relating thereto) on the same basis as the other Liens securing the Note Obligations Noteholder Claims are so subordinated to Credit Agreement Obligations Senior Lender Claims under this Agreement.

Appears in 1 contract

Samples: Intercreditor and Subordination Agreement (Reptron Electronics Inc)

Financing Issues. If the Company Borrower or any other Grantor Guarantor shall be subject to any Insolvency or Liquidation Proceeding and the Credit Senior Collateral Agent or any Senior Lender shall desire to permit the use of cash collateral or to permit the Company Borrower or any other Grantor Guarantor to obtain financing under Section 363 or Section 364 of Title 11 of the United States Bankruptcy Code or any similar Bankruptcy Law ("DIP Financing"), then the TrusteeNoteholder Collateral Agent, on behalf of itself and the Noteholders, agrees that it will raise no objection to such use of cash collateral or DIP Financing and will not request adequate protection or any other relief in connection therewith (except to the extent permitted by Section 6.3). To herein) and, to the extent any of the Liens securing the Credit Agreement Obligations any Senior Lender Claims are subordinated or pari passu with such DIP Financing, the Trustee, for and on behalf of itself and the Noteholders, hereby agrees that will subordinate its Liens in the same Collateral shall be subordinated to such DIP Financing (and all Obligations relating thereto) on the same basis as the other Liens securing the Note Obligations Noteholder Claims are so subordinated to Credit Agreement Obligations Senior Lender Claims under this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Aaipharma Inc)

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Financing Issues. If the any Company or any other Grantor shall be subject to any Insolvency or Liquidation Proceeding and the Credit Agent or the Senior Lenders shall desire to permit the use of cash collateral or to permit the any Company or any other Grantor to obtain financing under Section 363 or Section 364 of Title 11 of the United States Code or any similar Bankruptcy Law (“DIP Financing”), then the Trustee, on behalf of itself and the Noteholders, agrees that it will raise no objection to such use of cash collateral or DIP Financing and will not request adequate protection or any other relief in connection therewith (except to the extent permitted by Section 6.3). To ) and, to the extent the Liens securing the Credit Agreement Obligations Senior Lender Claims are subordinated or pari passu with such DIP Financing, the Trustee, for and on behalf of itself and the Noteholders, hereby agrees that will subordinate its Liens in the Common Collateral shall be subordinated to such DIP Financing and such Senior Lender Claims (and all Obligations relating thereto) on the same basis as the other Liens securing the Note Obligations Noteholder Claims are so subordinated to Credit Agreement Obligations Senior Lender Claims under this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (SMART Modular Technologies (DE), Inc.)

Financing Issues. If the Company or any other Grantor shall be subject to any Insolvency or Liquidation Proceeding and the Credit Agent shall desire to permit the use of cash collateral or to permit the Company or any other Grantor to obtain financing under Section 363 or Section 364 of Title 11 of the United States Code or any similar Bankruptcy Law ("DIP Financing"), then the Trustee, on behalf of itself and the Noteholders, agrees that it will raise no objection to such use of cash collateral or DIP Financing and will not request adequate protection or any other relief in connection therewith (except to the extent permitted by the proviso in clause (ii) of Section 3.1(a) and Section 6.3). To ) and, to the extent the Liens securing the Senior Lender Claims under the Senior Credit Agreement Obligations or, if no Senior Credit Agreement exists, under the other Senior Lender Documents are subordinated or pari passu with such DIP Financing, the Trustee, for and on behalf of itself and the Noteholders, hereby agrees that will subordinate its Liens in the Common Collateral shall be subordinated to such DIP Financing (and all Obligations relating thereto) on the same basis as the other Liens securing the Note Obligations Noteholder Claims are so subordinated to Credit Agreement Obligations Liens securing Senior Lender Claims under this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Koppers Inc)

Financing Issues. If the Company any Borrower or any other Grantor Guarantor shall be subject to any Insolvency or Liquidation Proceeding and the Credit Senior Agent shall desire to permit the use of cash collateral or to permit the Company or any other Grantor Borrower to obtain financing under Section section 363 or Section section 364 of Title 11 of the United States Bankruptcy Code or any similar Bankruptcy Law (“DIP Financing”), then the Trustee, on behalf of itself and the Noteholders, agrees that it will raise no objection to such use of cash collateral or DIP Financing and will not request adequate protection or any other relief in connection therewith (except to the extent permitted by Section 6.3). To ) and, to the extent the Liens securing the Credit Agreement Obligations Senior Lender Claims are subordinated or pari passu with such DIP Financing, the Trustee, for and on behalf of itself and the Noteholders, hereby agrees that will subordinate its Liens in the Common Collateral shall be subordinated to such DIP Financing (and all Obligations relating thereto) on the same basis as the other Liens securing the Note Obligations Noteholder Claims are so subordinated to Credit Agreement Obligations Senior Lender Claims under this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Acg Holdings Inc)

Financing Issues. If the Company Borrower or any other Grantor Guarantor shall be subject to any Insolvency or Liquidation Proceeding and the Credit any Senior Agent or any Senior Lender shall desire to permit the use of cash collateral or to permit the Company or any other Grantor Borrower to obtain financing under Section 363 or Section 364 of Title 11 of the United States Bankruptcy Code or any similar Bankruptcy Law ("DIP Financing"), then the Trustee, on behalf of itself and the Noteholders, agrees that it will raise no objection to such use of cash collateral or DIP Financing and will not request adequate protection or any other relief in connection therewith (except to the extent permitted by Section 6.3). To ) and, to the extent any of the Liens securing the Credit Agreement Obligations any Senior Lender Claims are subordinated or pari passu with such DIP Financing, the Trustee, for and on behalf of itself and the Noteholders, hereby agrees that will subordinate its Liens in the same Common Collateral shall be subordinated to such DIP Financing (and all Obligations relating thereto) on the same basis as the other Liens securing the Note Obligations Noteholder Claims are so subordinated to Credit Agreement Obligations Senior Lender Claims under this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Foamex International Inc)

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