Common use of Bankruptcy Financing Clause in Contracts

Bankruptcy Financing. If Debtor shall become subject to a proceeding under the U.S. Bankruptcy Code and if Senior Creditor desires to permit the use of cash collateral or to provide financing to Debtor under either Section 363 or Section 364 of the U.S. Bankruptcy Code, Junior Creditor agrees as follows: (A) adequate notice to Junior Creditor shall have been provided for such financing or use of cash collateral if Junior Creditor receives notice two (2) Business Days prior to the entry of the order approving such financing or use of cash collateral and (B) no objection will be raised by Junior Creditor to any such use of cash collateral or financing. For purposes of this Section, notice of a proposed financing or use of cash collateral shall be deemed given when given in the manner prescribed by Section 4(e) hereof to Junior Creditor Agreement.

Appears in 4 contracts

Samples: Subordination Agreement (Perfumania Holdings, Inc.), Subordination Agreement (Perfumania Holdings, Inc.), Subordination Agreement (Perfumania Holdings, Inc.)

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Bankruptcy Financing. If any Debtor shall become subject to a proceeding under the U.S. Bankruptcy Code and if Senior Creditor desires Creditors desire to permit the use of cash collateral or to provide financing to any Debtor under either Section 363 or Section 364 of the U.S. Bankruptcy Code, Junior Creditor agrees as follows: (Aa) adequate notice to Junior Creditor shall have been provided for such financing or use of cash collateral if Junior Creditor receives receive notice two (2) Business Days business days prior to the entry of the order approving such financing or use of cash collateral and (Bb) no objection will be raised by Junior Creditor to any such use of cash collateral or financing. For purposes of this Section, notice of a proposed financing or use of cash collateral shall be deemed given when given in the manner prescribed by Section 4(e) hereof to Junior Creditor Agreement.4.5

Appears in 1 contract

Samples: Subordination Agreement

Bankruptcy Financing. If any Debtor shall become subject to a proceeding under the U.S. Bankruptcy Code and if Senior Creditor desires Creditors desire to permit the use of cash collateral or to provide financing to any Debtor under either Section 363 or Section 364 of the U.S. Bankruptcy Code, Junior Creditor agrees Creditors agree as follows: (Aa) adequate notice to Junior Creditor Creditors shall have been provided for such financing or use of cash collateral if Junior Creditor receives Creditors receive notice two (2) Business Days business days prior to the entry of the order approving such financing or use of cash collateral and (Bb) no objection will be raised by Junior Creditor Creditors to any such use of cash collateral or financing. For purposes of this Section, notice of a proposed financing or use of cash collateral shall be deemed given when given in the manner prescribed by Section 4(e) 4.5 hereof to Junior Creditor AgreementCreditors.

Appears in 1 contract

Samples: Affiliate Subordination Agreement (Hancock Fabrics Inc)

Bankruptcy Financing. If any Debtor shall become subject to a proceeding under the U.S. Bankruptcy Code and if Senior Creditor desires Creditors desire to permit the use of cash collateral or to provide financing to any Debtor under either Section 363 or Section 364 of the U.S. Bankruptcy Code, Junior Creditor agrees as follows: (Aa) adequate notice to Junior Creditor shall have been provided for such financing or use of cash collateral if Junior Creditor receives receive notice two (2) Business Days business days prior to the entry of the order approving such financing or use of cash collateral and (Bb) no objection will be raised by Junior Creditor to any such use of cash collateral or financing. For purposes of this Section, notice of a proposed financing or use of cash collateral shall be deemed given when given in the manner prescribed by Section 4(e) 4.5 hereof to Junior Creditor. Junior Creditor Agreementagrees that Junior Creditor will not provide to any Debtor as debtor-in-possession any financing under Section 364(d) of the Bankruptcy Code.

Appears in 1 contract

Samples: Subordination Agreement (U.S. Silica Holdings, Inc.)

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Bankruptcy Financing. If Debtor shall become subject to a proceeding under the U.S. Bankruptcy Code and if Senior Creditor desires to permit the use of cash collateral or to provide financing to Debtor under either Section 363 or Section 364 of the U.S. Bankruptcy Code, Junior Creditor agrees as follows: (Aa) adequate notice to Junior Creditor shall have been provided for such financing or use of cash collateral if Junior Creditor receives notice two (2) Business Days business days prior to the entry of the order approving such financing or use of cash collateral and (Bb) no objection will be raised by Junior Creditor to any such use of cash collateral or financing. For purposes of this Section, notice of a proposed financing or use of cash collateral shall be deemed given when given in the manner prescribed by Section 4(e) 4.5 hereof to Junior Creditor AgreementCreditor.

Appears in 1 contract

Samples: Accounts Financing Agreement (Transcrypt International Inc)

Bankruptcy Financing. If Debtor shall become subject to a proceeding under the U.S. Bankruptcy Code and if Senior Creditor desires Creditors desire to permit the use of cash collateral or to provide financing to Debtor under either Section 363 or Section 364 of the U.S. Bankruptcy Code, Junior Creditor agrees as follows: (Aa) adequate notice to Junior Creditor shall have been provided for such financing or use of cash collateral if Junior Creditor receives notice two five (25) Business Days business days prior to the entry of the order approving such financing or use of cash collateral and (Bb) no objection will be raised by Junior Creditor to any such use of cash collateral or financing. For purposes of this Section, notice of a proposed financing or use of cash collateral shall be deemed given when given in the manner prescribed by Section 4(e) 4.5 hereof to Junior Creditor AgreementCreditor.

Appears in 1 contract

Samples: Subordination Agreement (Lodestar Holdings Inc)

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