DIP Claims definition
Examples of DIP Claims in a sentence
On the Plan Effective Date, all DIP Claims shall (i) be paid in full in cash, or (ii) receive such other treatment as may be consented to by the holders of DIP Claims.
The Assignee agrees that any sale, transfer or assignment of any DIP Claims or Senior Secured Notes Claims that does not comply with the terms and procedures set forth herein shall be deemed void ab initio.
Subject to the terms and conditions set forth herein, the DIP Liens, Superpriority DIP Claims, Prepetition Liens, Adequate Protection Liens and Adequate Protection Claims shall be subject to the payment of the Carve Out.
The amount of each Commitment Party’s obligation to purchase unsubscribed Rights Offering Shares pursuant to the Backstop Commitment Agreement (the “Backstop Commitment”) will be based on the percentages (the “Backstop Commitment Percentages”) derived from the relative amounts of the DIP Claims held by each of the Commitment Parties.
The Senior Superpriority DIP Claims shall, for purposes of section 1129(a)(9)(A) of the Bankruptcy Code, be considered administrative expenses allowed under section 503(b) of the Bankruptcy Code, shall be against each Debtor on a joint and several basis.