Bankruptcy Financing Issues. (a) This Agreement shall continue in full force and effect after the filing of any petition ("Petition") by or against the Company under the Code and all converted or succeeding cases in respect thereof. All references herein to the Company shall be deemed to apply to the Company as debtor-in-possession and to a trustee for the Company. If the Company shall become subject to a proceeding under the Code, and if Briar shall desire to permit the use of cash collateral or to provide post-Petition financing from Briar to the Company under the Code, Subordinated Lender agrees as follows: (1) adequate notice to Subordinated Lender shall be deemed to have been provided for such consent or post-Petition financing if Subordinated Lender receive notice thereof three (3) Business Days (or such shorter notice as is given to Briar) prior to the earlier of (a) any hearing on a request to approve such post-petition financing or (b) the date of entry of an order approving same, and (2) no objection will be raised by Subordinated Lender to any such use of cash collateral or such post-Petition financing from Briar.
Bankruptcy Financing Issues. The Subordinated Note shall continue in full force and effect after the filing of any petition (“Petition”) by or against Maker under the Bankruptcy Code and all converted or succeeding cases in respect thereof. All references herein to Maker shall be deemed to apply to Maker as debtor-in-possession and to a trustee for Maker. If Maker shall become subject to a proceeding under the Bankruptcy Code, and if any Senior Creditors shall desire to permit the use of cash collateral or to provide post-Petition financing from such Senior Creditors to Maker under the Bankruptcy Code, the Subordinated Lender agrees as follows: (a) adequate notice to Subordinated Lender shall be deemed to have been provided for such consent or post-Petition financing if the Subordinated Lender receives notice thereof three (3) Business Days (or such shorter notice as is given to the Senior Creditors or the Senior Representatives thereof) prior to the earlier of (i) any hearing on a request to approve such post-petition financing or (ii) the date of entry of an order approving same and (b) no objection will be raised by the Subordinated Lender to any such use of cash collateral or such post-Petition financing from such Senior Creditors.
Bankruptcy Financing Issues. This Agreement shall continue in full force and effect after the filing of any petition for relief by or against Borrower under the United States Bankruptcy Code (the “Code”) and all converted or succeeding cases in respect thereof (all references herein to Borrower being deemed to apply to Borrower as debtor-in-possession and to a trustee for Borrower), and shall apply with full force and effect with respect to all Collateral acquired by Borrower, and to all Senior Debt and Subordinated Debt incurred by Borrower, subsequent to such filing. If Borrower shall become subject to a proceeding under the Code, and if the Senior Lender shall desire to permit the use of cash collateral by Borrower or to provide post-petition financing from the Senior Lender to Borrower, each Subordinated Lender agrees as follows: (a) no notice need be provided to any respective Subordinated Lender for such use of cash collateral or such post-petition financing; and (b) no objection will be raised by the Subordinated Lenders to any such use of cash collateral or such post-petition financing from the Senior Lender. No objection will be raised by the Subordinated Lenders to the Senior Lender’s motion for relief from automatic stay in any such proceeding to foreclose on, sell or otherwise realize upon the Collateral. In case of any assignment by Borrower for the benefit of creditors, and in case of the appointment of any receiver for Borrower or Borrower’s business or assets, and in case of any dissolution or other winding up of the affairs of Borrower, or of Borrower’s business, and in all such cases respectively, the officer of Borrower and any assignee, trustee in bankruptcy, receiver, and other person or persons in charge, are hereby directed to pay to Senior Lender the full amount of Senior Lender’s claims against Borrower before making any payment to any Subordinated Lender, and so far as may be necessary for that purpose, the Subordinated Lenders hereby transfer and assign to Senior Lender all their rights to any payment or distribution which might otherwise be coming to it. Senior Lender is hereby irrevocably constituted and appointed the attorney-in-fact of the Subordinated Lenders to file any and all proofs of claim and any other documents and to take all other action, either in the name of Senior Lender or any Subordinated Lender, which in the opinion of Senior Lender is necessary or desirable to enable Senior Lender to obtain all such payments.
Bankruptcy Financing Issues. This Agreement shall continue in full force and effect after the filing of any petition ("Petition") by or against the Company under the United States Bankruptcy Code (the "Code") and all converted or succeeding cases in respect thereof. All references herein to the Company shall be deemed to apply to the Company as debtor-in-possession and to a trustee for the Company. If the Company shall become subject to a proceeding under the Code, and if the Lender shall desire to permit the use of cash collateral or to provide post-petition financing from the Lender to the Company under the Code, Agent and Trustee agree no objection will be raised by Agent or Trustee to any such use of cash collateral or such post-petition financing from Lender on the grounds of a failure to provide adequate protection for Agent's or Trustee's junior Lien, provided that (i) Lender is not seeking a lien on any Collateral which does not constitute Lender Collateral,) (ii) the Trustee obtains a lien on properties acquired by the Company after the filing of the Petition consistent with its rights under the Indenture and subject to the prior rights of Agent's lien upon such after acquired properties; and (iii) the maximum amount of revolving credit to be extended by Lender to the Company, both pre-petition and post-petition, does not exceed at any time or from time to time the principal amount of $15,000,000.
Bankruptcy Financing Issues. This Agreement shall continue in full\ force and effect after the filing of any petition for relief by or against Debtor under the Bankruptcy Code and all converted or succeeding cases in respect thereof (all references herein to the Debtor being deemed to apply to Debtor as debtor-in-possession and to a trustee for the Debtor), and shall apply with full force and effect with respect to all Senior Creditor Collateral acquired by the Debtor, and to all Senior Creditor Indebtedness and Junior Creditor Indebtedness incurred by the Debtor, subsequent to such filing. If Debtor shall become subject to a Proceeding, and if Senior Creditor shall desire to permit the use of cash collateral by Debtor or to provide post-petition financing from Senior Creditor to Debtor, Junior Creditor agrees as follows: (a) adequate notice to Junior Creditor shall be deemed to have been provided for such use of cash collateral or such post-petition financing if Junior Creditor receives notice thereof at least three (3) business days prior to the earlier of (i) any hearing on a request to approve such use of cash collateral or such post-petition financing or (ii) the date of entry of an order approving the same; and (b) no objection will be raised by Junior Creditor to any such use of cash collateral or such post-petition financing from Senior Creditor on the grounds of a failure to provide adequate protection or other similar grounds. No objection will be raised by Junior Creditor to Senior Creditor's motion for relief from the automatic stay in any such proceeding to foreclose on, sell or otherwise realize upon the Senior Creditor Collateral.
Bankruptcy Financing Issues. This Agreement shall continue in full force and effect after the filing of any petition (“Petition”) by or against any Borrower under the Bankruptcy Code and all converted or succeeding cases in respect thereof. All references herein to any Borrower shall be deemed to apply to such Borrower as debtor-in-possession and to a trustee for any Borrower. If any Borrower shall become subject to a proceeding under the Bankruptcy Code:
Bankruptcy Financing Issues. If Borrower shall become subject to a proceeding under the Bankruptcy Code and if Fremont shall desire to permit the use of Collateral or to provide financing to Borrower under either Section 363 or Section 364 of the Bankruptcy Code, Creditor agrees as follows: (i) adequate notice to Creditor shall have been provided for such financing if Creditor receives notice one (1) business day prior to the entry of the order approving such financing; and (ii) no objection will be raised by Creditor to any such financing on the ground of a failure to provide adequate protection for Creditor's lien position in the Collateral. For purposes of this paragraph, notice of a proposed financing or use of cash Collateral shall be deemed given upon the giving of notice by telegram, telecopy or hand-delivery to Creditor, at the address and location indicated in Paragraph 11. This Subordination Agreement shall be applicable both before and after the filing of any petition by or against Borrower under the Bankruptcy Code and all references herein to Borrower shall be deemed to apply to a trustee for Borrower and to Borrower as debtor-in-possession.
Bankruptcy Financing Issues. This Agreement shall continue in full force and effect after the filing of any petition ("Petition") by or against any Debtor under the United States Bankruptcy Code (the "Code") and all converted or succeeding cases in respect thereof. All references herein to a Debtor shall be deemed to apply to such Debtor as debtor-in-possession and to a trustee for such Debtor. If any Debtor shall become subject to a proceeding under the Code, and if Lender shall desire to permit the use of cash collateral (other than the Foothill Cash Collateral) or to provide post-petition financing from Lender to such Debtor under the Code, Foothill agrees as follows: (1) adequate notice to Foothill shall be deemed to have been provided for such post-petition financing if Foothill receives notice thereof at least three (3) Business Days (or such shorter notice as is given to Lender) prior to the earlier of (a) any hearing on a request to approve such post-petition financing or (b) the date of entry of an order approving the same; and (2) no objection will be raised by Foothill to any such use of cash collateral (other than the Foothill Cash Collateral) or such post-petition financing from Lender.
Bankruptcy Financing Issues. This Agreement shall continue in full force and effect after the filing of any petition ("Petition") by or against a Borrower or an Obligor under the United States Bankruptcy Code or in respect of any receivership proceeding under any state or federal law (any such bankruptcy, reorganization or receivership, a "Proceeding"), including all converted or succeeding cases in respect thereof. All references herein to any Borrower or any Obligor shall be deemed to apply to such Person as debtor-in-possession and to a trustee for such Person. If a Borrower or any Obligor shall become subject to a Proceeding, and Senior Agent/Senior Lenders shall desire to permit the use of cash collateral or to provide post-Petition financing from Senior Lenders, any such financing shall be treated as creating Senior Indebtedness and all Liens of Senior Agent, whether created before or after the commencement of any such Proceeding shall secure and continue to secure all such Senior Indebtedness.
Bankruptcy Financing Issues. This Agreement shall continue in full force and effect after the filing of any petition ("PETITION") by or against any Loan Party under the Bankruptcy Law (as defined in the Convertible Notes) and all converted or succeeding cases in respect thereof. All references herein to a Loan Party shall be deemed to apply to such Loan Party as debtor-in-possession and to a trustee for such Loan Party. If any Loan Party shall become subject to a Proceeding under the Bankruptcy Law (as defined in the Convertible Notes), and if Agent or any Lender shall desire to permit such Loan Party to use cash collateral or to provide post-Petition financing (or liens to secure same) from Agent or such Lender to such Loan Party under the Bankruptcy Law (as defined in the Convertible Notes), Subordinated Lender agrees as follows: (1) adequate notice to Subordinated Lender shall be deemed to have been provided for such permission or post-Petition financing if Subordinated Lender receives notice thereof three (3) Business Days (or such shorter notice as has been approved by the bankruptcy court for creditors in general) prior to the hearing in respect of such use of cash collateral or such financing and (2) no objection will be raised by Subordinated Lender to any such use by such Loan Party of cash collateral on the grounds of a failure to provide adequate protection for any Junior Lien on the Junior Collateral.
