Examples of Revolver Collateral in a sentence
Pursuant to the UST-Related Intercreditor Agreement, the Revolver Agent and the U.S. Treasury agreed, among other things, that (a) the liens of the U.S. Treasury on the Initial UST Collateral shall be senior and prior to the liens of the Revolver Agent on the Initial UST Collateral and (b) the liens of the Revolver Agent on the Initial US Revolver Collateral shall be senior and prior to the liens of the U.S. Treasury on the Initial US Revolver Collateral.
An immediate and critical need exists for the Debtors to continue to use Cash Collateral, including any and all prepetition and, subject to section 552 of the Bankruptcy Code, postpetition proceeds of the Prepetition Revolver Collateral and Term Loan Collateral (together, “Cash Collateral”) in accordance with the Budget (as defined below), in order to continue the operation of their businesses under chapter 11 of the Bankruptcy Code.
The value of the Prepetition Revolver Collateral exceeds the amount of the Revolver Indebtedness as of the Petition Date.
For the avoidance of doubt, the determination that the Revolver Adequate Protection Liens are subject only to the Carve-Out and to such other liens, if any, as may be senior, under applicable law, to the Revolver Liens in the Prepetition Revolver Collateral, is in all respects subject to paragraph 18 hereof.
Notably, the DIP Liens will only prime the liens securing the Prepetition Revolver Collateral (as well as other liens held by Bank of America or its affiliates) and will not prime liens securing the Prepetition Noteholder Collateral.