Common use of Bankruptcy Financing Clause in Contracts

Bankruptcy Financing. If the Borrower shall become subject to a proceeding under the Bankruptcy Code and if the Agent desires to permit the use of cash collateral and/or to provide financing to such the Borrower under either Section 363 or Section 364 of the Bankruptcy Code, the Subordinated Creditor agrees as follows: (a) adequate notice to the Subordinated Creditor shall be deemed to have been given to Subordinated Creditor if the Subordinated Creditor receives notice three (3) business days prior to the entry of the order approving such financing, and (b) no objection will be raised by the Subordinated Creditor to any such financing on the ground of a failure to provide "adequate protection" for the Subordinated Creditor's junior lien on the Collateral or any other grounds, provided the Subordinated Creditor retains a lien on and security interest in the post-petition Collateral to the extent and with the same priority as existed prior to the commencement of the proceeding under the Bankruptcy Code. 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 this Agreement, to the Subordinated Creditor or its counsel.

Bankruptcy Financing. If the Borrower shall become subject to a proceeding under the Bankruptcy Code and if the Agent Trustee desires to permit the use of cash collateral and/or to provide financing to such the Borrower under either Section 363 or Section 364 of the Bankruptcy Code, the Subordinated Creditor agrees as follows: (a) adequate notice to the Subordinated Creditor shall be deemed to have been given to Subordinated Creditor if the Subordinated Creditor receives notice three (3) business days prior to the entry of the order approving such financing, and (b) no objection will be raised by the Subordinated Creditor to any such financing on the ground of a failure to provide "adequate protection" for the Subordinated Creditor's junior lien on the Collateral or any other grounds, provided the Subordinated Creditor retains a lien on and security interest in the post-petition Collateral to the extent and with the same priority as existed prior to the commencement of the proceeding under the Bankruptcy Code. 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 this Agreement, to the Subordinated Creditor or its counsel.

Bankruptcy Financing. If the any Borrower shall become subject -------------------- to a proceeding under the Bankruptcy Code and if the Agent Lender desires to permit the use of cash collateral and/or to provide financing to such the Borrower under either Section 363 or Section 364 of the Bankruptcy Code, the Subordinated Creditor agrees as follows: (a) adequate notice to the Subordinated Creditor shall be deemed to have been given to Subordinated Creditor if the Subordinated Creditor receives actual notice three two (32) business days prior to the entry of the order approving such financing, and (b) no objection will be raised by the Subordinated Creditor to any such financing on the ground of a failure to provide "adequate protection" for the Subordinated Creditor's junior lien on the Collateral or any other grounds, provided the Subordinated Creditor retains a lien on and security interest in the post-petition Collateral to the extent and with the same priority as existed prior to the commencement of the proceeding under the Bankruptcy Code. 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 this Agreement, to the Subordinated Creditor or its counsel.