Collateral Diminution definition

Collateral Diminution means an amount equal to the diminution of the value of the Secured Notes Parties’ interests in the Prepetition Collateral from and after the Petition Date for the use, sale, or lease of Prepetition Collateral (including Cash Collateral), subordination to the Carve-Out, and other decline in value arising out of the imposition of the automatic stay (the “Adequate Protection Obligations”).
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Collateral Diminution means an amount equal to the decrease in the value of the Prepetition Collateral (including Cash Collateral) from and after the Petition Date resulting from the use, sale, or lease by the Debtors of such Prepetition Collateral, including Cash Collateral, whether in accordance with the terms and conditions of this Interim Order or otherwise, or the imposition of the automatic stay.
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Collateral Diminution means an amount equal to the decrease in the value of the Prepetition Collateral (including Cash Collateral) from and after the Petition Date, resulting from the use, sale, or lease of such Prepetition Collateral (including Cash Collateral), or the imposition of the automatic stay.
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Examples of Collateral Diminution in a sentence

  • For all adequate protection purposes throughout the Cases, the Prepetition Secured Parties shall be deemed to have requested relief from the automatic stay and adequate protection for any Collateral Diminution from and after the Petition Date.

  • For the avoidance of doubt, the rights of all parties in interest, including any Committee (as defined herein), concerning whether Collateral Diminution has occurred and the extent and/or amount of such Collateral Diminution, are hereby expressly reserved.

  • In addition, during the Waiting Period, except as may be otherwise ordered by the Court, the Debtors shall not use any Cash Collateral to pay any expenses except those which are (a) necessary to preserve the Debtors’ going concern value or (b) necessary to contest in good faith whether a Termination Event has occurred and/or is continuing and the quantum of any Collateral Diminution.

  • Cash payments made to the respective Prepetition Secured Parties pursuant to the Interim Order shall reduce each such respective Prepetition Secured Parties’ Collateral Diminution on a dollar for dollar basis.

  • For all adequate protection purposes throughout the Cases, the Prepetition Secured Parties and the Statutory Lienholders shall be deemed to have requested relief from the automatic stay and adequate protection for any Collateral Diminution from and after the Petition Date.

  • Above, the Halcombs’ daughter, Julie Kochevery Thursday andis an opportunityof Lexington, took guests on tours of the historic home.

  • The entry of this Interim Order, and anything contained herein, is not intended to and shall not be construed as a waiver of any of the rights of the Term Loan Administrative Agent or the Term Loan Lenders, including but not limited to any claim with respect to (i) seeking additional or different adequate protection, moving to vacate the automatic stay, any Collateral Diminution or (ii) objecting to any subsequent relief sought in the Cases.

  • The First Lien Secured Parties and the Second Lien Secured Parties are entitled, pursuant to sections 105, 361, 362 and 363(e) of the Bankruptcy Code, to adequate protection of their interest in the Prepetition Collateral, including the Cash Collateral, for any Collateral Diminution (as defined herein).

  • In any hearing regarding any exercise of rights or remedies, the only issues that may be raised by any of the Debtors in opposition thereto shall be (x) whether, in fact, the Termination Date shall have occurred and (y) what is the quantum of the Collateral Diminution.

  • Subtracting the Total Collateral Value as of the Forecasted Effective Date from the Total Collateral Value as of the Petition Date, Mr. Mitchell arrived at his estimated total Collateral Diminution of $417.5 million.229 Mr. Mitchell subsequently re-ran his analysis with May 20, 2016 and June 10, 2016 strip pricing assumptions, which altered only the Reserve Collateral Value as of the Forecasted Effective Date.


More Definitions of Collateral Diminution

Collateral Diminution means an amount equal (and limited) to the aggregate diminution of the fair market value of any of the Pre-Petition Collateral (including Cash Collateral) from and after the Petition Date for any reason provided for in the Bankruptcy Code, including, without limitation, any such diminution resulting from the Carve-Out, the use of Cash Collateral, the priming of the Pre-Petition Agent’s security interests in and liens on the Pre-Petition Collateral by the DIP Liens pursuant to the DIP Loan Documents and this Interim Order, the depreciation, sale, loss or use by any Debtor (or any other decline in value) of such Pre-Petition Collateral, the amount of any fees and expenses paid to retained professionals in these Chapter 11 Cases, in accordance with the Budget, and the imposition of the automatic stay pursuant to Section 362 of the Bankruptcy Code. The Pre-Petition Agent is hereby granted, subject to the Carve-Out and the rights of third parties preserved under Paragraph 26 and solely to the extent of any Collateral Diminution, the following for the benefit of Pre-Petition Credit Parties:
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Collateral Diminution means the amount (the "Initial Collateral Diminution Amount"), if any, by which (x) the arithmetic average of the unpaid balance of Exteriors' Eligible Accounts as of the last Business Day of each of the last four calendar weeks preceding the date of this Agreement (concluding with the calendar week within which the date of this Agreement occurs)) exceeds (y) the arithmetic average (the "Ending Eligible Accounts Balance") of the unpaid balance of Exteriors' Eligible Accounts as of the last Business Day of each of the last four calendar weeks preceding the Initial Diminution Measurement Date (concluding with the calendar week within which the Initial Diminution Measurement Date occurs); provided that: (1) the Agent shall determine the Eligible Accounts in the manner required by the Credit Agreement; (2) the Initial Diminution Measurement Date shall be the date on which the Standstill Period terminates and shall not be later than June 30, 2000; (3) a Subsequent Diminution Measurement Date shall occur once every four calendar weeks after the Initial Diminution Measurement Date; (4) on each Subsequent Diminution Measurement Date, the amount of the Collateral Diminution shall equal the amount (if any) by which (A) the Initial Collateral Diminution Amount exceeds (B) the excess of (i) the then highest arithmetic average of the unpaid balance of Exterior's Eligible Accounts as of the last Business Day of each of the last four calendar weeks preceding such Subsequent Diminution Measurement Date and any prior Subsequent Diminution Measurement Date (including for such purposes the four calendar weeks concluding with the calendar week within which any Subsequent Diminution Measurement Date occurs) over (ii) the Ending Eligible Accounts Balance; and (5) in no event shall the amount of the Collateral Diminution exceed either the aggregate amount of the License Deferral Amount as of the Initial Diminution Measurement Date or the Initial Collateral Diminution Amount.
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Collateral Diminution means an amount equal to the diminution of the value from and after the Petition Date of the Prepetition Secured Parties' interests in the Prepetition Collateral upon which any of the Prepetition Secured Parties have valid, perfected, enforceable and non- avoidable liens or security interests, resulting from the use, sale, or lease of the Prepetition Collateral, including Cash Collateral (whether in accordance with the terms and conditions of this SecondThird Interim Order or otherwise). Cash payments made to the respective PrepetitionSecured Parties pursuant to this SecondThird Interim Order shall reduce each such respective Prepetition Secured Parties’ Collateral Diminution on a dollar-for-dollar basis. For the avoidance of doubt, the rights of all parties in interest, including any Committee (as defined herein), concerning whether Collateral Diminution has occurred and the extent and/or amount of such Collateral Diminution, are hereby expressly reserved.
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Related to Collateral Diminution

  • Collateral Event means that no Relevant Entity has credit ratings at least equal to the Approved Ratings Threshold.

  • Collateral Disposition means (i) the sale, lease, transfer or other disposition of the Vessel by the Borrower to any Person (it being understood that a Permitted Chartering Arrangement is not a Collateral Disposition) or the sale of 100% of the Capital Stock of the Borrower or (ii) any Event of Loss of the Vessel.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Collateral savings, as used in this clause, means those measurable net reductions resulting from a VECP in the agency's overall projected collateral costs, exclusive of acquisition savings, whether or not the acquisition cost changes.

  • Canadian Collateral means the Collateral owned by (or, in the event such Collateral has been foreclosed upon, immediately prior to such foreclosure that was owned by) a Canadian Loan Party.

  • Permitted Collateral Liens means (a) in the case of Collateral other than Mortgaged Property, the Liens permitted under Section 6.01 and (b) in the case of Mortgaged Property, “Permitted Collateral Liens” shall mean the Liens described in clauses (a), (c), (d), (g), (h), (o), (p) and (u) of Section 6.01.

  • Collateral Debt Obligation means any debt obligation or debt security purchased by or on behalf of the Issuer from time to time (or, if the context so requires, to be purchased by or on behalf of the Issuer) each of which satisfies the Eligibility Criteria, in the case of Synthetic Securities and Non-Euro Obligations, to the extent required to do so. References to Collateral Debt Obligations shall not include Collateral Enhancement Obligations, Eligible Investments or Exchanged Equity Securities. Obligations which are to constitute Collateral Debt Obligations in respect of which the Issuer has entered into a binding commitment to purchase but which have not yet settled shall be included as Collateral Debt Obligations in the calculation of the Portfolio Profile Tests at any time as if such purchase had been completed. For the avoidance of doubt, the failure of any obligation to satisfy the Eligibility Criteria at any time after the Issuer or the Investment Manager on behalf of the Issuer has entered into a binding agreement to purchase it, shall not cause such obligation to cease to constitute a Collateral Debt Obligation.

  • First Lien Collateral Documents means the “Security Documents” or “Collateral Documents” or similar term (as defined in the applicable First Lien Loan Documents) and any other agreement, document or instrument pursuant to which a Lien is granted securing any First Lien Obligations or pursuant to which any such Lien is perfected.

  • Threshold Event Collateral shall have the meaning assigned to such term in Section 5(g).

  • Collateral Deficiency Amount With respect to any AB Modified Loan as of any date of determination, the excess of (i) the Stated Principal Balance of such AB Modified Loan (taking into account the related junior note(s) included therein), over (ii) the sum of (in the case of a Loan Combination, solely to the extent allocable to the subject Mortgage Loan) (x) the most recent Appraised Value for the related Mortgaged Property or Mortgaged Properties, plus (y) solely to the extent not reflected or taken into account in such Appraised Value and to the extent on deposit with, or otherwise under the control of, the lender as of the date of such determination, any capital or additional collateral contributed by the related Mortgagor at the time the Mortgage Loan became (and as part of the modification related to) such AB Modified Loan for the benefit of the related Mortgaged Property or Mortgaged Properties (provided, that in the case of an Outside Serviced Mortgage Loan, the amounts set forth in this clause (y) will be taken into account solely to the extent relevant information is received by the Special Servicer), plus (z) any other escrows or reserves (in addition to any amounts set forth in the immediately preceding clause (y)) held by the lender in respect of such AB Modified Loan as of the date of such determination. The Certificate Administrator, the Master Servicer and the Operating Advisor (other than with respect to any Collateral Deficiency Amount calculations that the Operating Advisor is required to review, recalculate and/or verify pursuant to Section 3.29) shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Collateral Deficiency Amount.

  • Loan Collateral With respect to any Mortgage Loan, the related Mortgaged Property and any personal property securing the related Mortgage Loan, including any lessor’s interest in such property, whether characterized or recharacterized as an ownership or security interest, and including any accounts or deposits pledged to secure such Mortgage Loan, and any Additional Collateral.

  • Additional Collateral Any of the following held, in addition to the related Mortgaged Property, as security for a Mortgage Loan: (i) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as security for the repayment of such Mortgage Loan, (ii) third-party guarantees, and (A) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as collateral for such guarantee or (B) any mortgaged property securing the performance of such guarantee, or (iii) such other collateral as may be set forth in the Series Supplement.

  • Collateral costs as used in this clause, means agency cost of operation, maintenance, logistic support, or Government-furnished property.

  • Collateral Enhancement Obligation means any warrant or equity security, excluding Exchanged Equity Securities, but including without limitation, warrants relating to Mezzanine Obligations and any equity security received upon conversion or exchange of, or exercise of an option under, or otherwise in respect of a Collateral Debt Obligation; or any warrant or equity security purchased as part of a unit with a Collateral Debt Obligation (but in all cases, excluding, for the avoidance of doubt, the Collateral Debt Obligation), in each case, the acquisition of which will not result in the imposition of any present or future, actual or contingent liabilities or obligations on the Issuer other than those which may arise at its option; provided that no Collateral Enhancement Obligation may be a Dutch Ineligible Security.

  • Collateral Rate means, for any Interest Period, the rate specified in the Loan Agreement.

  • Additional Collateral Documents as defined in the Base Intercreditor Agreement.

  • Term Loan Collateral means all assets, whether now owned or hereafter acquired by any Loan Party, in which a Lien is granted or purported to be granted to any Term Loan Secured Party as security for any Term Loan Obligation.

  • First Lien Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any First Lien Obligations.

  • Contested Collateral Lien Conditions means, with respect to any Permitted Lien of the type described in clauses (a), (b), (e) and (f) of Section 6.02, the following conditions:

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Second Lien Collateral Documents means the “Security Documents” or “Collateral Documents” (as defined in the applicable Second Lien Documents) and any other agreement, document or instrument pursuant to which a Lien is granted securing any Second Lien Obligations or pursuant to which any such Lien is perfected.

  • Collateral Tax Event means at any time, as a result of the introduction of a new, or any change in, any home jurisdiction or foreign tax statute, treaty, regulation, rule, ruling, practice, procedure or judicial decision or interpretation (whether proposed, temporary or final), interest payments due from the Obligors of any Collateral Debt Obligations in relation to any Due Period becoming properly subject to the imposition of home jurisdiction or foreign withholding tax (other than where such withholding tax is compensated for by a “gross-up” provision in the terms of the Collateral Debt Obligation or such requirement to withhold is eliminated pursuant to a double taxation treaty so that the Issuer as holder thereof is held completely harmless from the full amount of such withholding tax on an after-tax basis) so that the aggregate amount of such withholding tax on all Collateral Debt Obligations in relation to such Due Period is equal to or in excess of 6% of the aggregate interest payments due (for the avoidance of doubt, excluding any additional interest arising as a result of the operation of any gross-up provision) on all Collateral Debt Obligations in relation to such Due Period.

  • Collateral Call means a notice to a Participant that additional Collateral, or possibly early payment, is required in order to remain in, or to regain, compliance with Tariff, Attachment Q. Commencement Date:

  • Term Loan Collateral Agent means Credit Suisse, Cayman Islands Branch, as collateral agent for the lenders under the Term Loan Credit Agreement, together with its respective successors and permitted assigns under the Term Loan Credit Agreement exercising substantially the same rights and powers, or such other agent as may from time to time be appointed thereunder.

  • First Lien Collateral Agent means the First Lien Credit Agreement Collateral Agent and any Additional First Lien Obligations Agent.