Examples of Prepetition Obligations in a sentence
Amounts advanced by the DIP Borrower for the general corporate purposes of any Subsidiary in accordance with the DIP Credit Agreement shall be and are hereby subordinated to the Prepetition Obligations and the DIP Obligations and shall be pledged as collateral security on a first priority basis to secure the DIP Facility.
The liens and security interests (collectively, the “Prepetition Liens”) granted by the Debtors under the Prepetition Collateral Documents to or for the benefit of the Prepetition Secured Parties as security for the Prepetition Obligations encumber substantially all of the Debtors’ assets and property (all such assets and property, as the same existed on or at any time prior to the Petition Date, together with all cash and non-cash proceeds thereof, collectively, the “Prepetition Collateral”) .
Any failure by the Debtors on or after the Petition Date to comply with the segregation requirements of section 363(c)(4) of the Bankruptcy Code in respect of any Cash Collateral shall not be used as a basis to challenge the Prepetition Obligations, or the extent, validity, enforceability or perfected status of the Prepetition Liens.
As of the Petition Date, the value of the Prepetition Collateral (defined below) exceeds the amount of the Prepetition Obligations.
See Section VI.A.4, "Certain Prepetition Obligations - Synthetic Lease", for a discussion of the Synthetic Lease.