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.

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 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 Briar Bank shall desire to permit the use of cash collateral or to provide post-Petition financing from Briar Bank 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 receives notice thereof three (3) Business Days (or such shorter notice as is given to BriarBank) 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 Subordinated Lender to any such use of cash collateral or such post-Petition financing from BriarBank.

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 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 Briar Bank shall desire to permit the use of cash collateral or to provide post-Petition financing from Briar Bank 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 receives notice thereof three (3) Business Days (or such shorter notice as is given to BriarBank) 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 Subordinated Lender to any such use of cash collateral or such post-Petition financing from BriarBank.

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.