Second Lien Adequate Protection Claim definition

Second Lien Adequate Protection Claim means any Claim that is or may be asserted by the Second Lien Agent and the Second Lien Secured Parties for the use and diminution in value of the Second Lien Collateral.
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Examples of Second Lien Adequate Protection Claim in a sentence

  • The Second Lien Adequate Protection Claim shall, for purposes of section 1129(a)(9)(A) of the Bankruptcy Code, be considered administrative expenses allowed under section 503(b) of the Bankruptcy Code, shall be against each Debtor on a joint and several basis, and shall be payable from and have recourse to all DIP Collateral.

  • Moreover, under the Final DIP Order, the Interchange Claim and any proceeds generated thereby were explicitly excluded from the Debtors’ secured lenders’ Collateral, Pre- Petition Collateral, Superpriority Claim, First Lien Adequate Protection Claim, and Second Lien Adequate Protection Claim (each as defined in the Final DIP Order).

  • If any or all of the provisions of this Final Order are hereafter modified, vacated, or stayed without the prior written agreement of the Prepetition Second Lien Agent, such modification, vacation, or stay shall not affect the validity, priority, or enforceability of the Prepetition Second Lien Adequate Protection Liens or Prepetition Second Lien Adequate Protection Claim.

  • If any or all of the provisions of this Interim Order are hereafter modified, vacated, or stayed without the prior written agreement of the Prepetition Second Lien Agent, such modification, vacation, or stay shall not affect the validity, priority, or enforceability of the Prepetition Second Lien Adequate Protection Liens or Prepetition Second Lien Adequate Protection Claim.

Related to Second Lien Adequate Protection Claim

  • Superpriority Claim means a claim against the Borrower and any Guarantor in any of the Cases which is an administrative expense claim having priority over any or all administrative expenses of the kind specified in Sections 503(b) or 507(b) of the Bankruptcy Code.

  • First Lien Claims means, collectively, Claims against the Debtors arising under the Prepetition Term Loan Agreement.

  • 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.

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

  • Second Lien Credit Agreement means the Second Lien Credit Agreement, dated as of the Effective Date, among Holdings, the Borrowers, the lenders party thereto and Deutsche Bank AG New York Branch, as administrative agent and collateral agent.

  • DIP means debtor-in-possession.

  • Term Loan Claims means any Claim on account of, arising under, derived from, or based upon the Term Loan Documents, including Claims for all principal amounts outstanding, interest, fees, expenses, costs, and other charges arising thereunder or related thereto.

  • 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.

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

  • Prepetition Credit Agreement has the meaning specified in the recitals hereto.

  • DIP Motion means the motion filed by the Debtors seeking entry of the DIP Orders.

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

  • Second Lien Loan Documents means the Second Lien Credit Agreement and the other “Loan Documents” as defined in the Second Lien Credit Agreement.

  • Senior Priority Obligations as defined in the Base Intercreditor Agreement.

  • Postpetition means arising or accruing on or after the Petition Date and before the Effective Date.

  • Second Lien Security Documents means the “Security Documents”, as defined in the Second Lien Credit Agreement, and any other agreement, document or instrument pursuant to which a Lien is granted to secure any Second Lien Obligations or under which rights or remedies with respect to any such Lien are governed.

  • First Lien Credit Agreement has the meaning set forth in the Recitals to this Agreement.

  • Second Lien With respect to each Mortgaged Property, the lien of the mortgage, deed of trust or other instrument securing a Mortgage Note which creates a second lien on the Mortgaged Property.

  • DIP Obligations means “DIP Obligations” as defined in the DIP Order.

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

  • Second Lien Security Agreement means the Second Lien Security Agreement, dated as of the date hereof, among the Initial Borrower, the Parent Borrower, certain Subsidiaries of the Parent Borrower from time to time party thereto and the Second Lien Notes Collateral Agent, as amended, restated, waived, restructured, renewed, extended, supplemented or otherwise modified from time to time or as replaced in connection with any Refinancing, extension, refunding or replacement of the Second Lien Notes Indenture.

  • First Priority Obligations means, collectively, (i) the Credit Agreement Secured Obligations, (ii) each Series of Other First-Priority Obligations and (iii) any other First-Priority Hedging Obligations and First-Priority Cash Management Obligations (which shall be deemed to be part of the Series of Other First-Priority Obligations to which they relate to the extent provided in the applicable Other First-Priority Agreement).

  • Litigation Claims means the claims, rights of action, suits or proceedings, whether in law or in equity, whether known or unknown, that any Debtor or any Estate may hold against any Person or Entity, including, without limitation, the Causes of Action of the Debtors or their Estates, in each case solely to the extent of the Debtors’ or their Estates’ interest therein. A non-exclusive list of the Litigation Claims held by the Debtors as of the Effective Date will be Filed with the Plan Supplement, which will be deemed to include any derivative actions filed against any Debtor as of the Effective Date.

  • Pre-Petition Credit Agreement has the meaning assigned to such term in the Recitals.

  • Junior Priority Obligations means the Original Second Lien Obligations and any Additional Obligations constituting Junior Priority Debt.

  • 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.