DIP Charge definition

DIP Charge means the charge in favour of CIBC as agent and lender in respect of the CIT Facility as created under paragraph 46 of the Initial Order.

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DIP Charge means the charge in favour of the DIP Lender as set out in the Charging Order;

DIP Charge means the fee charged by Illuminet to a Carrier Customer each time that Carrier Customer Dips the Service.

Examples of DIP Charge in a sentence

Each of the DIP Charge and the Security Agreement are subject to applicable bankruptcy, generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.
If the Borrower applies for a sanction order from a Bankruptcy Court, such application shall include a request that the sanction order provide for the survival of the Lender Additional Compensation Charge and the DIP Charge.
Upon such a Filing and Conversion, the Notes shall also be subject to the DIP Charge.
Except for transactions expressly permitted hereby, Borrower and Parent shall not, and shall not permit any of its Subsidiaries to, do anything to adversely affect the priority of the Liens created by the DIP Charge in respect of the Obligations.
No Credit Party will, and no Credit Party will permit any Credit Party to, create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired by any Credit Party or assign or sell any income or revenues (including Accounts of the Credit Parties) or rights in respect of any thereof, except Permitted Liens, and after the Restructuring Event Date, the DIP Charge, the Administrative Charge and the Directors’ Charge.
The DIP Charge shall be a super priority debtor in possession lien in the Collateral to secure the DIP Obligations.
The Obligations are and shall be at all times secured by the Liens in all Collateral created by the DIP Charge all such Liens shall be first priority Liens subject only to the Administration Charge.
This DIP Term Sheet and each of the documents contemplated herein shall be governed by the laws of the Province of Alberta and the federal laws of Canada applicable therein, except to the extent that the Lender otherwise determines is necessary to validly protect the DIP Charge.
Borrower also agrees to provide to the Administrative Agent, from time to time upon reasonable request of the Administrative Agent, information which is in the possession of Borrower or its Restricted Subsidiaries or otherwise reasonably obtainable by any of them, reasonably satisfactory to the Administrative Agent as to the perfection and priority of the Liens created or intended to be created by the DIP Charge.
The Initial CCAA Order will have been issued commencing the Insolvency Proceedings and approving this Agreement and such order shall be in form and substance reasonably satisfactory to the Administrative Agent and its counsel, including the provisions granting the DIP Charge in favour of the Administrative Agent and the Lenders, and the Initial CCAA Order shall not have been reversed, modified, amended or stayed in a manner adverse to the interests of the Lenders.

More Definitions of DIP Charge

DIP Charge means the super priority debtor in possession charge to secure the DIP Obligations and which for greater certainty, shall not secure any Pre-Petition Liabilities.

DIP Charge means a super-priority charge over all of the present and after-acquired property, assets and undertaking of the Canadian Debtors ahead of and senior to all creditors, interest holders, lien holders and claimants of any kind whatsoever pursuant to a court-ordered charge granted by the Canadian Court under the CCAA, except as set forth in Section 4.18(b)(iv).

DIP Charge shall have the meaning set forth in Section 2.19.

DIP Charge means a Court-ordered super-priority security interest and charge in and over all of the existing and after-acquired real and personal, tangible and intangible, assets of the Borrower in favour of the Lender which has priority over all Liens other than the administrative charge granted in the Proposal Proceedings to secure payment of the DIP Loan, plus any fees and expenses payable to such party hereunder;

DIP Charge the CCAA Court ordered charge to be granted in the CCAA Financing Order to secure payment of principal and interest on the Loan.

DIP Charge means the Lien(s) granted in favour of the Administrative Agent and the Lenders under the Initial CCAA Order in respect of the Loan Documents, the Loans and the other Obligations.