Common use of Bankruptcy Financing Issues Clause in Contracts

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. (b) Subordinated Lender shall not join in, solicit any other person to, or act to cause the commencement of, any case involving the Company under any state or federal bankruptcy or insolvency laws or seek the appointment of a receiver for the affairs or property of the Company until such time as the Briar Obligations shall have been paid in full in cash and the Briar Agreements shall have been irrevocably terminated.

Bankruptcy Financing Issues. (a) This Agreement The Subordinated Note shall continue in full force and effect after the filing of any petition ("“Petition"”) by or against the Company Maker under the Bankruptcy Code and all converted or succeeding cases in respect thereof. All references herein to the Company Maker shall be deemed to apply to the Company Maker as debtor-in-possession and to a trustee for the CompanyMaker. If the Company Maker shall become subject to a proceeding under the Bankruptcy Code, and if Briar any Senior Creditors shall desire to permit the use of cash collateral or to provide post-Petition financing from Briar such Senior Creditors to the Company Maker under the Bankruptcy Code, the Subordinated Lender agrees as follows: (1a) adequate notice to Subordinated Lender shall be deemed to have been provided for such consent or post-Petition financing if the Subordinated Lender receive receives notice thereof three (3) Business Days (or such shorter notice as is given to Briarthe Senior Creditors or the Senior Representatives thereof) prior to the earlier of (ai) any hearing on a request to approve such post-petition financing or (bii) the date of entry of an order approving same, same and (2b) no objection will be raised by the Subordinated Lender to any such use of cash collateral or such post-Petition financing from Briarsuch Senior Creditors. (b) Subordinated Lender shall not join in, solicit any other person to, or act to cause the commencement of, any case involving the Company under any state or federal bankruptcy or insolvency laws or seek the appointment of a receiver for the affairs or property of the Company until such time as the Briar Obligations shall have been paid in full in cash and the Briar Agreements shall have been irrevocably terminated.

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 any Borrower under the Bankruptcy Code and all converted or succeeding cases in respect thereof. All references herein to the Company any Borrower shall be deemed to apply to the Company such Borrower as debtor-in-possession and to a trustee for the Companyany Borrower. If the Company any Borrower shall become subject to a proceeding under the Bankruptcy Code, and if Briar : (i) If Agent shall desire to permit the use of cash collateral or to provide post-Petition financing from Briar Agent to the Company any Borrower under the Bankruptcy Code, Subordinated Lender Trustee agrees as follows: (1) adequate notice to Subordinated Lender Trustee shall be deemed to have been provided for such consent or post-Petition financing if Subordinated Lender receive Trustee receives notice thereof at least three (3) Business Days business days (or such shorter notice as is given to BriarAgent) prior to the earlier of (a) any hearing on a request to approve such post-petition Petition financing or (b) the date of entry of an order approving the same, ; and (2) no objection will be raised by Subordinated Lender Trustee to any such use of cash collateral or such post-Petition financing from BriarAgent. (bii) Subordinated Lender Trustee shall not join inextend credit or otherwise provide any post-Petition financing to any Borrower pursuant to which, solicit or as a result of which, Trustee’s Lien on any other person Borrower’s assets would be equal or superior to, or act to cause have priority over, Agent’s Lien, in contravention of this Agreement. Trustee shall not on behalf of itself or the commencement of, any case involving the Company under any state or federal bankruptcy or insolvency laws or seek the appointment of a receiver for the affairs or property holders of the Company until such time as Secured Notes propose or approve a plan of reorganization of any Borrower that will conflict with any plan of reorganization proposed by Agent or the Briar Obligations shall have been paid in full in cash and the Briar Agreements shall have been irrevocably terminatedterms of this Agreement.

Bankruptcy Financing Issues. (ai) (i) This Agreement shall continue in full force and effect after the filing of any petition ("Petition") by or against the any Company under the United States Bankruptcy Code (the "Code") and all converted or succeeding cases in respect thereof. All references herein to the a Company shall be deemed to apply to the such Company as debtor-in-possession and to a trustee for the such Company. If the any Company shall become subject to a proceeding under the Code, and if Briar Senior Lender shall desire to permit the use of cash collateral or to provide post-Petition financing from Briar Senior Lender to the such Company under the Code, each Subordinated Lender agrees as follows: (1) adequate notice to such Subordinated Lender shall be deemed to have been provided for such consent or post-Petition financing if such Subordinated Lender receive receives notice thereof three (3) Business Days (or such shorter notice as is given to BriarSenior Lender) prior to the earlier of (a) any hearing on a request to approve such post-petition Petition financing or (b) the date of entry of an order approving same, same and (2) no objection will be raised by such Subordinated Lender to any such use of cash collateral or such post-Petition financing from BriarSenior Lender. (bii) No Subordinated Lender shall not join in, solicit any other person to, or act to cause the commencement of, any case involving the any Company under any state or federal bankruptcy or insolvency laws or seek the appointment of a receiver for the affairs or property of the Company until such time as the Briar Obligations Senior Indebtedness shall have been paid in full in cash and the Briar Senior Lending Agreements shall have been irrevocably terminated.

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 or a Guarantor under the Code and all converted or succeeding cases in respect thereof. All references herein to the Company or Guarantor shall be deemed to apply to the Company or Guarantor as debtor-in-possession and to a trustee for the CompanyCompany or Guarantor. 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. (b) Subordinated Lender shall not join in, solicit any other person to, or act to cause the commencement of, any case involving the Company or Guarantor under any state or federal bankruptcy or insolvency laws or seek the appointment of a receiver for the affairs or property of the Company or Guarantor until such time as the Briar Obligations shall have been paid in full in cash and the Briar Agreements shall have been irrevocably terminated.

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 Bankruptcy 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 Bankruptcy Code, and if Briar Senior Lender shall desire to permit the use of cash collateral or to provide post-Petition financing financing, including debtor-in-possession financing, from Briar Senior Lender to the Company under the Bankruptcy Code, the Subordinated Lender agrees Lenders agree as follows: (1) adequate notice to the Subordinated Lender Lenders shall be deemed to have been provided for such consent or post-Petition financing financing, including debtor-in-possession financing, if Subordinated Lender receive receives notice thereof three (3) Business Days business days (or such shorter notice as is given to BriarSenior 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 same, same and (2) no objection will be raised by the Subordinated Lender Lenders to any such use of cash collateral or such post-Petition financing financing, including debtor-in-possession financing, from Briar. (b) Senior Lender. Subordinated Lender shall Lxxxxx agrees that it will not join in, solicit assist any other person toparty in providing post-Petition financing, or act including debtor-in-possession financing, if the Senior Lender desires to cause the commencement ofprovide post-Petition financing, any case involving the Company under any state or federal bankruptcy or insolvency laws or seek the appointment of a receiver for the affairs or property of the Company until such time as the Briar Obligations shall have been paid in full in cash and the Briar Agreements shall have been irrevocably terminatedincluding debtor-in-possession financing.