DIP Financing Order Sample Clauses
A DIP Financing Order is a court order that authorizes a debtor in possession (DIP) to obtain new financing during bankruptcy proceedings. This order typically sets out the terms and conditions under which the debtor can borrow funds, including the amount, interest rate, repayment terms, and any security interests granted to the lender. It may also specify the priority of the new debt over existing obligations. The core function of a DIP Financing Order is to provide the debtor with access to necessary funds to continue operations during bankruptcy, thereby preserving the value of the estate and maximizing potential recovery for creditors.
DIP Financing Order. The entry of the DIP Financing Order shall not have occurred by December 16, 2005; or the DIP Financing Order shall not be in full force and effect; or the DIP Financing Order shall have been reversed, amended, supplemented, modified, stayed or vacated; or
DIP Financing Order. The Company shall on or within two (2) Business Day after the Petition Date file a motion with the Bankruptcy Court seeking interim and final approval of the DIP Facilities, which DIP Facilities shall be in form and substance acceptable to the DIP Lenders, and shall use its best efforts to obtain approval and entry, on an interim and final basis, of the DIP Facilities (such interim or final order, as applicable, the “DIP Financing Order”), which shall be in form and substance acceptable to the Supporting Noteholders.
DIP Financing Order. The order or orders of the Bankruptcy Court, including any interim order or orders, approving and authorizing the terms of debtor-in-possession financing arrangements in the Chapter 11 Cases.
DIP Financing Order. The DIP Financing Orders shall include a provision for the due and legal perfection of the security interest granted to the Lenders hereunder upon the entry of such orders without the necessity of filing Uniform Commercial Code financing statements or assignments of Patents, Copyrights and Trademarks and without the necessity of possession of Chattel Paper, Documents, Instruments or negotiable securities subject only to the rights of third parties possessing such Chattel Paper, Documents, Instruments or negotiable securities. Accordingly, Lenders will at all times have a duly perfected security interest in the Collateral, second in priority only to the lien and security interest of Cybear, Inc.
DIP Financing Order. (a) At all times after its entry by the Bankruptcy Courts, the DIP Order, is in full force and effect, and has not been vacated, reversed, terminated, stayed modified or amended in any manner without the reasonable written consent of DIP Lenders, (b) upon the occurrence of the Maturity Date (whether by acceleration or otherwise) of any of the Obligations, DIP Lenders shall, subject to Article VII and the applicable provisions of the DIP Order, be entitled to immediate payment of such Obligations, and to enforce the remedies provided for under the DIP Loan Documents in accordance with the terms thereof and such DIP Order, as applicable, without further application to or order by the Bankruptcy Court, (c) if the DIP Order is the subject of a pending appeal in any respect, none of such DIP Order, the extension of credit or the performance by Borrower of any of its obligations under any of the DIP Loan Documents shall be the subject of a presently effective stay pending appeal. Borrower and DIP Lenders shall be entitled to rely in good faith upon the DIP Order, notwithstanding objection thereto or appeal therefrom by any interested party. Borrower and the Guarantors shall be permitted and required to perform their respective obligations in compliance with the DIP Loan Documents notwithstanding any such objection or appeal unless the DIP Order has been stayed by a court of competent jurisdiction.