Examples of DIP Collateral Obligation in a sentence
Notwithstanding the foregoing, such a loan will not be deemed to be a DIP Collateral Obligation following the emergence of the related debtor-in-possession from bankruptcy protection under Chapter 11 of the Bankruptcy Code.
Notwithstanding the foregoing, such a loan will not be deemed to be a DIP Collateral Obligation following the emergence of the related debtor-in-possession from bankruptcy protection under Chapter 11 of the Bankruptcy Code or any other applicable bankruptcy law.
With respect to a Collateral Obligation that is a DIP Collateral Obligation or a Synthetic Security, and notwithstanding anything to the contrary in clauses (i) through (iv) above, the S&P Rating of the Collateral Obligation that is a DIP Collateral Obligation or Synthetic Security shall be the rating (including any estimated rating) assigned by S&P to the DIP Collateral Obligation or Synthetic Security.
DIP Collateral Obligation: A loan made to a debtor-in-possession pursuant to Section 364 of the U.S. Bankruptcy Code having the priority allowed by either Section 364(c) or 364(d) of the U.S. Bankruptcy Code and fully secured by senior liens.
The cancellation, repudiation or termination of any Reference Obligation that is a DIP Collateral Obligation at the direction of a court of law during relevant legal proceedings shall be deemed to constitute a Failure to Pay.