DIP Facility Liens definition

DIP Facility Liens means the Liens securing the payment of the DIP Facility Claims.
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DIP Facility Liens means the Liens securing the payment of the DIP Facility Claims. “DIP Final Order” means the “Final Order” as defined in the DIP Credit Agreement.
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DIP Facility Liens means the Liens securing the obligations of the Debtors under the DIP Facility Credit Agreement.
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Examples of DIP Facility Liens in a sentence

  • The Adequate Protection Liens are (a) subject only to (i) existing liens and encumbrances that were senior to those of Laurus as of the Filing Date under applicable non-bankruptcy law, and which are valid, binding, enforceable, perfected and non-avoidable liens existing in the Pre-Petition Collateral as of the Petition Date (the “Permitted Liens”), other than the Pre-Petition Liens; (ii) the Carve-Out (as defined in paragraph 15); and (iii) the DIP Facility Liens.

  • All possessory collateral held by the Prepetition Agent shall be subject to the DIP Facility Liens and deemed to be possessory collateral held by the DIP Agent and otherwise disbursed in accordance with the terms of this Final Order.

  • Specifically, only the following pre-Effective Date Liens, Claims, interests, rights, covenants, agreements, terms and conditions as are provided for herein shall be retained and be binding upon the Reorganized Debtor and/or the Litigation Trust after the Effective Date: (i) the Exit Facility Liens and DIP Facility Liens; (ii) Liens as otherwise as provided for in the Plan, if any; and (iii) Liens as may exist under and in connection with any assumed Executory Contract or Unexpired Lease.

  • Any Person or Entity holding such Liens, Claims or interests will, pursuant to section 1142 of the Bankruptcy Code and in the case of any DIP Facility Liens at the sole cost and expense of the Reorganized Debtors, promptly execute and deliver to the Reorganized Debtors such instruments of termination, release, satisfaction and/or assignment (in recordable form) as may be reasonably requested by the Reorganized Debtors.

  • New credit is unavailable to Debtors without (a) providing the DIP Lender (i) the DIP Facility Superpriority Claims and (ii) the DIP Facility Liens as provided herein and in the DIP Facility Documents, and providing for the Adequate Protection of the Prepetition Secured Parties’ interests in the Prepetition Collateral on the terms and conditions as set forth herein.

  • In addition, except to the extent otherwise expressly set forth in this Order, or in a written instrument, agreement or other document executed by DIP Lender and subject to paragraph 23 of this Order, neither the Pre-Petition Liens nor the DIP Facility Liens shall be subject to subordination to any other liens, security interests or claims under Section 510 of the Bankruptcy Code, or otherwise.

  • Any security interest or lien upon the Pre-Petition Collateral or the DIP Facility Collateral which is avoided or otherwise preserved for the benefit of the Debtors’ estates under Section 551 or any other provision of the Bankruptcy Code shall be subordinate to the Pre-Petition Liens, the DIP Facility Liens and the Senior Adequate Protection Liens (defined in paragraph 8(a) below).

  • In the event of the occurrence of an Event of Default (as defined below), or an event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default (a “ Default”), the DIP Facility Liens shall be subject only to the payment of the Carve-Out (as defined below).

  • The Prepetition Lenders have not objected to their Prepetition Liens being primed by the DIP Facility Liens and to the grant of superpriority administrative expense claims to the DIP Lender.

  • Each of the creditors holding prepetition security interests in the property whose interests will be subordinated to the DIP Facility Liens either have consented to such subordination or their interests will be adequately protected.


More Definitions of DIP Facility Liens

DIP Facility Liens means the DIP ABL Facility Liens and the DIP Term Loan Facility Liens.
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DIP Facility Liens means the Liens securing the payment of the DIP Facility Claims. “DIP Financing Documents” means, collectively, the DIP ABL Loan Documents and theDIP Term Loan Documents.
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Related to DIP Facility Liens

  • DIP Facility means the debtor-in-possession secured financing facility provided to the Debtors by the DIP Lenders pursuant to the DIP Credit Agreement as authorized by the Bankruptcy Court pursuant to the DIP Facility Order.

  • Prepetition Collateral shall refer to (i) all of the Borrower’s personal property upon which a security interest may be granted under the Uniform Commercial Code, (ii) all of the Borrower’s real property, (iii) all of the Borrower’s assets in or upon which a lien or other security interest has otherwise been granted in favor or for the benefit of the Prepetition Agent and the Prepetition Lenders in connection with, pursuant to, or under, the Prepetition Credit Agreement and the other Prepetition Financing Documents, and (iv) any of the Borrower’s assets otherwise held by the Prepetition Agent or any Prepetition Lender or otherwise provided to the Prepetition Agent or any Prepetition Lender as security for the Prepetition Indebtedness, in each case that existed as of the Petition Date or at any time prepetition and, subject to section 552 of the Bankruptcy Code, postpetition proceeds, products, offspring, rents and profits of all of the foregoing.

  • DIP Facility Claims means all Claims held by the DIP Facility Agent and the DIP Facility Lenders pursuant to the DIP Facility Agreements and the Final DIP Order.

  • DIP Facility Documents means any notes, certificates, agreements, security agreements, documents, or instruments (including any amendments, restatements, supplements, or modifications of any of the foregoing) related to or executed in connection with the DIP Credit Agreement.

  • DIP means debtor-in-possession.

  • Permitted Priority Liens means Liens permitted under any of the clauses (b), (c), (d), (e), (f) or (i) of Section 9.02.

  • DIP Facility Claim means a Claim arising under or as a result of the DIP Facility.

  • DIP Facilities means the DIP ABL Facility and the DIP Term Loan Facility.

  • Existing Liens means Liens on the property or assets of the Company and/or any of its Subsidiaries existing on the date of this Indenture securing Indebtedness of the Company or any of its Subsidiaries (other than Liens incurred pursuant to clause (1) of Section 4.07 hereof).

  • DIP Financing Liens has the meaning assigned to such term in Section 2.05(b).

  • Second Lien Facility means the second lien term loan facility under the Second Lien Credit Agreement.

  • Prepetition means arising or accruing prior to the Petition Date.

  • First Lien Lenders means the “Lenders” under and as defined in the First Lien Credit Agreement.

  • Prepetition Loan Documents means the “Loan Documents” as defined in the Prepetition Credit Agreement.

  • Prepetition Lenders means the lenders party to the Prepetition Credit Agreement.

  • First Priority Liens means all Liens that secure the First Priority Lien Obligations.

  • First Lien Loan Documents means the “Loan Documents” as defined in the First Lien Credit Agreement.

  • Second Priority Liens means all Liens on the Second Lien Collateral to secure the Second Lien Obligations, whether created under the Second Lien Security Documents or acquired by possession, statute, operation of law, subrogation or otherwise.

  • Second Priority Debt Obligations means the Initial Second Priority Debt Obligations and, with respect to any series, issue or class of Second Priority Debt, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Second Priority Debt, (b) all other amounts payable to the related Second Priority Debt Parties under the related Second Priority Debt Documents and (c) any renewals or extensions of the foregoing.

  • Priority Lien Security Documents means the Priority Credit Agreement (insofar as the same grants a Lien on the Collateral), each agreement listed in Part A of Exhibit B hereto, and any other security agreements, pledge agreements, collateral assignments, mortgages, deeds of trust, control agreements, or grants or transfers for security, now existing or entered into after the date hereof, executed and delivered by the Borrower or any other Grantor creating (or purporting to create) a Lien upon Collateral in favor of the Priority Lien Agent (including any such agreements, assignments, mortgages, deeds of trust and other documents or instruments associated with any Priority Substitute Credit Facility).

  • Second Priority Debt Documents means the Initial Second Priority Debt Documents and, with respect to any series, issue or class of Second Priority Debt, the promissory notes, indentures, Collateral Documents or other operative agreements evidencing or governing such Indebtedness, including the Second Priority Collateral Documents.

  • 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.

  • Existing Lien shall have the meaning assigned to such term in Section 6.02(c).

  • First Priority Documents means the First Priority Agreement, each First Priority Security Document and each First Priority Guarantee.

  • First Lien Security Documents means, collectively, (i) the Credit Agreement Collateral Documents and (ii) the Additional First-Lien Security Documents.

  • Term Loan Collateral means all of the assets of any Grantor, whether real, personal or mixed, upon which a Lien is granted or purported to be granted to any Term Loan Agent under any of the Term Loan Collateral Documents.