Common use of Chapter 11 Claims Clause in Contracts

Chapter 11 Claims. No Loan Party shall, nor shall any Loan Party permit any of the Subsidiaries to, agree to, incur, create, assume, suffer to exist or permit (a) any administrative expense, unsecured claim, or other superpriority claim or lien which is pari passu with or senior to the claims of the Secured Parties against the Loan Parties hereunder, or apply to the Bankruptcy Court for authority to do so, except for the Carve-Out, the Existing Las Vegas Liens or as otherwise provided in the Orders or (b) any obligation to make or provide adequate protection (whether by the payment of cash or otherwise) other than as expressly set forth in the Orders, without the consent of Administrative Agent and Required Lenders.

Chapter 11 Claims. No Loan Credit Party shall, nor shall any Loan Credit Party permit any of the its Subsidiaries to, agree to, incur, create, assume, suffer to exist or permit (a) any administrative expense, unsecured claim, or other superpriority claim or lien which is pari passu with or senior to the claims of the Secured Parties against the Loan Credit Parties hereunder, or apply to the Bankruptcy Court for authority to do so, except for the Carve-Out, the Existing Las Vegas Liens or as otherwise provided in the Orders Out or (b) any obligation to make or provide adequate protection (whether by the payment of cash or otherwise) other than as expressly set forth in the Orders, without the consent of Administrative Agent and Required Requisite Lenders.