After-acquired Property as Voidable Preference. In the case of property which becomes part of the Subject Collateral after the date hereof, Section 547 of the Bankruptcy Code provides that a transfer is not made until the debtor has rights in the property transferred, so a security interest in after-acquired property which is security for other than a contemporaneous advance may be treated as a voidable preference under the conditions (and subject to the exceptions) provided by Section 547 of the Bankruptcy Code.
Appears in 6 contracts
Samples: Term Loan Agreement (Dominion Midstream Partners, LP), Joinder and Assumption Agreement (CONSOL Energy Inc), Joinder and Assumption Agreement (CONSOL Energy Inc)
After-acquired Property as Voidable Preference. In the case of property which becomes part of the Subject Article 9 Collateral after the date hereof, Section 547 of the Bankruptcy Code provides that a transfer is not made until the debtor has rights in the property transferred, so a security interest in after-acquired property which is security for other than a contemporaneous advance may be treated as a voidable preference under the conditions (and subject to the exceptions) provided by Section 547 of the Bankruptcy Code.
Appears in 2 contracts
Samples: Credit Agreement (Sra International Inc), Bond Purchase Contract (Clean Energy Fuels Corp.)
