Examples of Prepetition Agent in a sentence
The Debtors are authorized and directed on a final basis to execute and deliver promptly upon demand to the DIP Agent and the Prepetition Agent all such financing statements, mortgages, notices and other documents as the DIP Agent and the Prepetition Agent may reasonably request.
However, the Prepetition Agent and the Prepetition Lenders are entitled to receive adequate protection as set forth in this Final Order pursuant to Sections 361, 363 and 364 of the Bankruptcy Code, for any diminution in the value of each of their respective interests in the Prepetition Collateral (including Cash Collateral) resulting from the priming of their liens on the Prepetition Collateral (the “Diminution in Value”).
Notwithstanding the automatic stay under Section 362 of the Bankruptcy Code, the DIP Agent and the Prepetition Agent, each in its discretion, may file a photocopy of this Final Order as a financing statement with any filing or recording office or with any registry of deeds or similar office, in addition to or in lieu of such financing statements, notice of lien or similar instrument.
To secure the Prepetition Obligations, the Borrowers granted to the Prepetition Agent and Prepetition Lenders, security interests in and liens on (the “Prepetition Liens”) substantially all of the assets of the Debtors (collectively, the “Prepetition Collateral”).
The priming of the Prepetition Liens and all other liens of the Prepetition Agent and the Prepetition Lenders on the Prepetition Collateral under Section 364(d) of the Bankruptcy Code, as contemplated by the DIP Facility and as further described below, will enable the Debtors to obtain the DIP Facility and will enable to Debtors to continue to operate their businesses and to fund the orderly liquidation process to the benefit of the estates and creditors.