DIP Letters of Credit definition

DIP Letters of Credit means (i) Letters of Credit (as defined in the DIP Agreement) and (ii) any letters of credit that have been extended or issued to replace such Letters of Credit, in each case, on or before the Closing Date.

DIP Letters of Credit has the meaning specified in the recitals to this Agreement.

DIP Letters of Credit has the meaning specified in the recitals hereto.

Examples of DIP Letters of Credit in a sentence

• Notwithstanding anything in this Interim Order to the contrary, neither the Prepetition Agent (on behalf of itself or the other Prepetition Secured Parties) or the other Prepetition Secured Parties shall be permitted to exercise any rights or remedies unless and until the DIP Obligations are indefeasibly paid and satisfied in full in cash (including the cash collateralization of all DIP Letters of Credit, in accordance with the DIP Loan Documents) and discharged.

• On the Effective Date, any DIP Letters of Credit outstanding shall15 be replaced, returned to the issuing DIP Facility Lender, or collateralized with cash or backstopped16 with new letters of credit in accordance with the terms of the applicable DIP Letter of Credit and the DIP Facility Documents.

• The Debtors do not have sufficient available sources of working capital and financing to operate their businesses or maintain their properties in the ordinary course of business, and to provide credit support to third parties, without the authorization to use Cash Collateral and to obtain extensions of credit in the form of DIP Letters of Credit.

• The DIP Secured Parties shall have no obligation to make any loan or advance or to issue, amend, renew, or extend any DIP Letters of Credit unless all of the conditions precedent to the making of such extension of credit or the issuance, amendment, renewal, or extension of such DIP Letter of Credit and this Final Order have been satisfied in full or waived by the DIP Agent in accordance with the terms of the DIP Agreement.

• The Debtors have a need to use Cash Collateral and obtain DIP Letters of Credit pursuant to the DIP Facility in order to, among other things, enable the orderly continuation of their operations and to administer and preserve the value of their estates.

More Definitions of DIP Letters of Credit

DIP Letters of Credit the collective reference to the Letters of Credit issued and outstanding under the Existing DIP Agreement as of the Closing Date for the account of the Borrower and identified on Schedule 1.1B and deemed to be made under this Agreement pursuant to Section 2.7(a).

DIP Letters of Credit means any letters of credit issued by a DIP Facility Lender pursuant to the DIP Facility Credit Agreement.

DIP Letters of Credit means the letters of credit and payment obligations thereunder issued under the DIP Credit Agreement.

DIP Letters of Credit means each of the letters of credit issued, extended or renewed by the DIP LC Issuer under the DIP LC Agreement.

DIP Letters of Credit means all letters of credit issued pursuant to the DIP Facility and outstanding as of the Effective Date.

DIP Letters of Credit means all letters of credit issued pursuant to the DIP Credit Facility and outstanding as of the Effective Date.

DIP Letters of Credit shall have the meaning set forth in the Introductory Statement.