DIP Lenders definition
Examples of DIP Lenders in a sentence
All Allowed Intercompany Claims shall either be, in the discretion of the (Reorganized) Debtors (with the consent of the Required Consenting DIP Lenders), (i) cancelled, released, extinguished, and otherwise eliminated and Holders of such Intercompany Claims shall not receive any Plan Distributions or retain any interest in property on account of such Intercompany Claims or (ii) Reinstated (including, as amended).
None of the Consenting DIP Lenders shall have any fiduciary duty, any duty of trust or confidence in any form, or other duties or responsibilities to each other, any Consenting DIP Lender, the Company, or any of the Company’s respective creditors or other stakeholders, and there are no commitments among or between the Consenting DIP Lenders, in each case except as expressly set forth in this Agreement or any other Definitive Document.
It is understood and agreed that any Consenting DIP Lenders may trade in any debt or equity securities of the Company without the consent of the Company, subject to applicable securities laws and this Agreement.
At any time after the Confirmation Date, with the consent of the Required Consenting DIP Lenders, the (Reorganized) Debtors may take any action reasonably designed to simplify the corporate structure of the (Reorganized) Debtors without the need for (1) a further order of the Bankruptcy Court, (2) any other or further actions to be taken by or on behalf of the (Reorganized) Debtors, or (3) any payments to be made in connection therewith.
The Consenting DIP Lenders, constituting Required DIP Lenders, shall be deemed not to have consented to such request unless the Required Consenting DIP Lenders deliver a written response to the Debtors (including via email from counsel) approving such request (as determined in their sole discretion) within two (2) Business Days of receipt thereof.