Adequate Protection Payment Sample Clauses

Adequate Protection Payment. The Pre-Petition Agents shall receive from the U.S. Debtors or SSC Canada adequate protection in the form of (i) immediate cash payment of all accrued and unpaid interest (including any pre-petition interest) under the Pre-Petition Credit Agreement and letter of credit fees at the non-default contract rate applicable on the Petition Date as provided for in the Pre-Petition Financing Agreements, and all other accrued and unpaid fees and disbursements (including, but not limited to, fees and expenses owed to the Pre-Petition Agents and incurred prior to the Petition Date), (ii) current cash payments of all fees and expenses payable to the Pre-Petition Agents under the Pre-Petition Financing Agreements, including, but not limited to, the reasonable fees and disbursements of counsel, financial and other consultants for the Pre-Petition Agents (including, but not limited to, such fees and disbursements incurred prior to the Petition Date), and (iii) current cash payments of all accrued but unpaid interest on the Pre-Petition Debt (including Swap Agreements), and letter of credit and other fees, in each case at the non-default contract rate applicable on the Petition Date (including LIBOR pricing options) under the Pre-Petition Financing Agreements, provided that, without prejudice to the rights of any other party to contest such assertion, the Pre-Petition Secured Parties reserve their rights to assert claims for the payment of additional interest calculated at any other applicable rate of interest (including, without limitation, default rates), or on any other basis, provided for in the Pre-Petition Financing Agreements (the “Adequate Protection Payments”); provided, however, that SSC Canada’s obligations with respect to the Adequate Protections Payments shall be limited to those amounts relating to the Pre-Petition Canadian Obligations. The payment of the fees, expenses and disbursements set forth in this paragraph 4(c) of this Final Order (including professional fees and expenses of Xxxxxxx Xxxxxxx & Xxxxxxxx LLP, Capstone Advisory Group, LLC and any other professionals or advisors retained by or on behalf of the Pre-Petition Agents) shall be made within 10 business days after the receipt by the Debtors, the Statutory Committee and the United States Trustee (the “Review Period”) of invoices thereof (the “Invoiced Fees”) (subject in all respects to applicable privilege or work product doctrines) and without the necessity of filing formal fee applications, inc...
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Adequate Protection Payment. The Borrowers shall have paid to the administrative agent (the "Prepetition Agent") under the Existing Credit Agreement an adequate protection payment (the "Adequate Protection Payment") in the amount of $2,500,000. Such payment (i) shall be received by the Prepetition Agent and applied to repay the Deemed DIP Loans ratably for account of the lenders under the Existing Credit Agreement and (ii) shall be fully earned and nonrefundable when paid. The Adequate Protection Payment shall be deemed to have been used to repay Prepetition Indebtedness for purposes of the proviso to the first sentence of Section 5.1(b) of the Credit Agreement and shall therefore apply dollar-for-dollar against the $30,000,000 basket specified therein.
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Adequate Protection Payment. The Borrower shall have paid all accrued but unpaid interest on the Existing Lender Debt and all other fees, costs and charges owing in respect thereof under the Existing Credit Agreement.
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Adequate Protection Payment. The Borrower shall have paid to the Prepetition Agent for the benefit of the Existing Lenders and the issuer of the Existing Letters of Credit all accrued and unpaid fees, costs and charges owing to the Prepetition Agent, such issuer and the Existing Lenders under the Existing Credit Agreement.
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Related to Adequate Protection Payment

  • Adequate Protection Each Second Priority Agent, on behalf of itself and each applicable Second Priority Secured Party, agrees that none of them shall contest (or support any other Person contesting) (a) any request by any First Lien Agent or Senior Lenders for adequate protection or (b) any objection by any First Lien Agent or Senior Lenders to any motion, relief, action or proceeding based on such First Lien Agent’s or the Senior Lenders’ claiming a lack of adequate protection. Notwithstanding the foregoing, in any Insolvency or Liquidation Proceeding, (i) if the Senior Lenders (or any subset thereof) are granted adequate protection in the form of additional collateral in connection with any DIP Financing or use of cash collateral under Section 363 or Section 364 of Title 11 of the United States Code or any similar Bankruptcy Law, then each Second Priority Agent, on behalf of itself and any applicable Second Priority Secured Party, (A) may seek or request adequate protection in the form of a replacement Lien on such additional collateral, which Lien is subordinated to the Liens securing the Senior Lender Claims and such DIP Financing (and all Obligations relating thereto) on the same basis as the other Liens securing the Second Priority Claims are so subordinated to the Liens securing Senior Lender Claims under this Agreement and (B) agrees that it will not seek or request, and will not accept, adequate protection in any other form, and (ii) in the event any Second Priority Agent, on behalf of itself or any applicable Second Priority Secured Party, seeks or requests adequate protection and such adequate protection is granted in the form of additional collateral, then such Second Priority Agent, on behalf of itself or each such Second Priority Secured Party, agrees that the First Lien Agents shall also be granted a senior Lien on such additional collateral as security for the applicable Senior Lender Claims and any such DIP Financing and that any Lien on such additional collateral securing the Second Priority Claims shall be subordinated to the Liens on such collateral securing the Senior Lender Claims and any such DIP Financing (and all Obligations relating thereto) and any other Liens granted to the Senior Lenders as adequate protection on the same basis as the other Liens securing the Second Priority Claims are so subordinated to such Liens securing Senior Lender Claims under this Agreement.

  • Interest Rate Protection Agreements (a) Within ninety days after the Closing Date, the Borrower shall enter into and thereafter maintain interest rate protection agreements (protecting against fluctuations in interest rates) having a term of at least three years from the Closing Date, establishing a fixed or maximum interest rate of 10.5% per annum for an aggregate notional amount equal to at least 50% of the aggregate principal amount of all Term Loans then outstanding.

  • Interest Rate Protection Agreement As of the date hereof, Borrower has entered into, made all payments required under, and satisfied all conditions precedent to the effectiveness of, an interest rate protection agreement that satisfies all of the following conditions (such interest rate protection agreement together with (i) any extension thereof or (ii) any other interest rate protection agreement entered into pursuant to Section 2.8, being referred to herein as the “Interest Rate Protection Agreement”):

  • Interest Rate Protection No later than the 90th day after the Closing Date, the Borrower shall enter into, and for a minimum of three years thereafter maintain, Hedging Agreements acceptable to the Administrative Agent that result in at least 50% of the aggregate principal amount of its funded long-term Indebtedness being effectively subject to a fixed or maximum interest rate acceptable to the Administrative Agent.

  • Retention Payments (a) In the event that Executive is employed by the Company on January 1, 2002, Executive shall be entitled to a lump sum cash retention payment equal to 150% of the sum of (i) Executive's Base Salary and (ii) Executive's target annual bonus, each as in effect for the 2001 fiscal year (such sum, the "2002 Retention Bonus").

  • Retention Payment If Employee remains employed by Company or its subsidiaries on the first anniversary of the Closing Date, then Company shall pay to Employee in a lump sum within five (5) business days thereafter, an amount equal to $460,000 (the “Retention Payment”).

  • Adequate Assurance Landlord and Tenant acknowledge that, pursuant to the Code, Landlord is entitled to adequate assurances of future performance of the provisions of this Lease. The parties agree that the term “adequate assurance” shall include at least the following:

  • Adequate Assurances If the Parties have so agreed in Part XI of the Schedule, the failure by a Party to give adequate assurances of its ability to perform any of its obligations under the Agreement within two (2) Business Days of a written request to do so when the other Party has reasonable grounds for insecurity shall be an Event of Default under the Agreement.

  • Adequate Consideration Executive expressly agrees that the Company has provided adequate, reasonable consideration for the obligations imposed upon him in this Agreement.

  • Termination Payments In the event of termination of the Executive’s employment during the Employment Period, all compensation and benefits set forth in this Agreement shall terminate except as specifically provided in this Section 8.

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