Examples of Pre-Petition Collateral in a sentence
Nothing herein shall (i) preclude the Bond Trustee from seeking any other relief that it may deem appropriate, including relief from the automatic stay; or (ii) prevent the Bond Trustee from asserting at some later time that its liens and security interests in Pre-Petition Collateral are not being adequately protected.
As a condition to the Debtors’ use of any Pre-Petition Collateral, the Debtors are required to, in the alternative, provide adequate protection to the Bond Trustee or obtain the Bond Trustee’s consent.
The Pre-Petition Agent has objected, and does not consent, to the Debtor's use of the Pre-Petition Collateral, including Cash Collateral, and the granting of liens under section 364(d) of the Bankruptcy Code, except on the terms provided for in this Interim Order.
Accordingly, without the ability to use the Pre-Petition Collateral and the Cash Collateral, the Debtor submits that it will be unable to pay ongoing management, payroll, raw material, insurance, utilities and other necessary expenses related to the continued operation of the Debtor's business, to generate cash flow, and to maintain the value of Debtor's assets.
The Pre-Petition Collateral includes cash collateral within the meaning of section 363(a) of the Bankruptcy Code.