Interim Borrowing Order Clause Samples
An Interim Borrowing Order is a legal provision that authorizes a party, typically in the context of family law or insolvency proceedings, to obtain temporary financing or loans while a case is ongoing. This clause outlines the conditions under which interim borrowing is permitted, such as specifying the maximum amount, the purpose of the funds, and any required approvals from the court or other parties. Its core practical function is to ensure that essential expenses or obligations can be met during the pendency of legal proceedings, thereby preventing financial hardship or disruption until a final resolution is reached.
Interim Borrowing Order. The Interim Borrowing Order shall have been entered by the Bankruptcy Court on or prior to 5:00 P.M. (New York City time) no later than the fifth (5th) Business Day after the Petition Date.
Interim Borrowing Order. The Interim Borrowing Order shall cease to be in full force and effect and the Permanent Borrowing Order shall not have been entered by the Bankruptcy Court prior to such cessation; or
Interim Borrowing Order. The Bankruptcy Court shall have entered the ------------------------ Interim Borrowing Order within five (5) Business Days after the Petition Date, and no order modifying or vacating such Order shall have been entered, and no appeal of such Order shall have been timely filed or, if such an appeal has been taken, no stay of such Order pending appeal shall have been granted.
Interim Borrowing Order. Permanent Borrowing Order; Administrative Priority; Lien Priority; Payment of Claims
(a) Without the prior written consent of the Lenders, no Borrower shall at any time seek, consent to or suffer to exist any modification, stay, vacation or amendment of the Interim Borrowing Order or the Permanent Borrowing Order.
(b) No Borrower shall at any time suffer to exist a priority for any administrative expense or unsecured claim (including, without limitation, any reclamation claim) against any Borrower now existing or hereafter arising of any kind or nature whatsoever (including, without limitation, any administrative expenses of the kind specified in Sections 503(b) and 507(b) of the Bankruptcy Code) equal or superior to the priority of the Lenders in respect of the Borrowers' Liabilities, except as set forth in the Borrowing Order.
(c) No Borrower shall at any time suffer to exist any lien on the Collateral having a priority equal or superior to the Liens in respect of the Collateral granted to the Lenders hereby, except for Permitted Liens.
Interim Borrowing Order. All motions and other documents to be filed with and submitted to the Bankruptcy Court in connection with the DIP Orders shall be, prior to such filing and submittal, (x) received by the Administrative Agent and the Lenders reasonably in advance of filing and