Examples of Prepetition Obligations in a sentence
The Prepetition Notes Documents and the Prepetition Obligations are (a) legal, valid, binding, and enforceable against the Debtor and (b) not subject to any contest, attack, objection, recoupment, defense, counterclaim, offset, subordination, re-characterization, avoidance, or other claim, cause of action, or other challenge of any kind or nature under the Bankruptcy Code, under applicable non-bankruptcy law or otherwise.
Subject to the terms and conditions set forth herein and in the DIP Orders, the Lender shall automatically, and without further action or order of the Bankruptcy Court, be deemed on the Interim Order Entry Date to have “rolled-up” and refinanced as the Roll-Up Loan all Prepetition Obligations held by the Lender immediately prior to the Effective Date.
For the avoidance of doubt and notwithstanding anything to the contrary in this Interim Order or in any Prepetition Credit Agreement Documents, the Carve Out shall be senior to all liens and claims securing the Prepetition Obligations, including, for the avoidance of doubt, the Prepetition Liens, the Adequate Protection Liens, and the 507(b) Claims, and any and all other forms of adequate protection, liens, or claims securing the Prepetition Obligations.
Such conversion (or “roll-up”) shall be authorized as compensation for, in consideration for, and solely on account of, the Prepetition First Lien Lenders that are also DIP Lenders or affiliates thereof to fund the New Money Loans and not as payments under, adequate protection for, or otherwise on account of, any Prepetition Obligations.
Subject to the Intercreditor Agreement and the other Prepetition Credit Agreement Documents, the Debtors admit, stipulate, acknowledge, and agree that, subject to entry of the Final Order, the Prepetition Secured Parties shall have the rights grantedpursuant to and consistent with section 363(k) of the Bankruptcy Code with respect to any credit bidding of the Prepetition Obligations.