Common use of Financing Issues Clause in Contracts

Financing Issues. If any Obligor shall be subject to any Insolvency or Liquidation Proceeding and the Agent shall desire to permit the use of cash collateral or to permit such Obligor to obtain financing under section 363 or section 364 of the Bankruptcy Code ("DIP Financing"), then the Trustee, on behalf of itself and the Noteholders, and the Collateral Agent each agrees that it will raise no objection to such DIP Financing, any conditions thereto, or any other relief afforded to the Agent or Senior Lender in connection therewith or to any priming of any Lien securing the DIP Financing to the Noteholder Lien so long as (i) the principal amount of such DIP Financing, together with the outstanding amount of principal under the Senior Credit Agreement immediately prior to the initial funding under the DIP Financing (and after giving effect to the application of proceeds of such initial funding) does not exceed $17,000,000 and (ii) in the event that any Noteholder Lien is primed by the DIP Financing (and all Obligations relating thereto), the Senior Lender Lien is also primed. In the event that the Agent or Senior Lenders subordinate the Senior Lender Lien in connection with any such DIP Financing (and all Obligations relating thereto), the Trustee on behalf of itself and the Noteholders and the Collateral Agent will subordinate the Noteholder Lien to such DIP Financing (and all Obligations relating thereto).

Financing Issues. If any Obligor Telex shall be subject to any Insolvency or Liquidation Proceeding and the Agent shall desire to permit the use of cash collateral or to permit such Obligor Telex to obtain financing under section 363 or section 364 of the Bankruptcy Code ("DIP Financing"), then the Trustee, on behalf of itself and the Noteholders, and the Collateral Agent each agrees that it will raise no objection to such DIP Financing, any conditions thereto, or any other relief afforded to the Agent or Senior Lender in connection therewith or to any priming of any Lien securing the DIP Financing to the Noteholder Lien so long as (i) the principal amount of such DIP Financing, together with the outstanding amount of principal under the Senior Credit Agreement immediately prior to the initial funding under the DIP Financing (and after giving effect to the application of proceeds of such initial funding) does not exceed $17,000,000 and (ii) in the event that any Noteholder Lien is primed by the DIP Financing (and all Obligations relating thereto), the Senior Lender Lien is also primed. In the event that the Agent or Senior Lenders subordinate the Senior Lender Lien in connection with any such DIP Financing (and all Obligations relating thereto), the Trustee on behalf of itself and the Noteholders and the Collateral Agent will subordinate the Noteholder Lien to such DIP Financing (and all Obligations relating thereto).

Financing Issues. If any Obligor shall be subject to any Insolvency or Liquidation Proceeding and the Senior Agent shall desire to permit the use of cash collateral or to permit such Obligor to obtain financing under section 363 or section 364 of the Bankruptcy Code ("DIP Financing"), then the Trustee, on behalf of itself and the Noteholders, and the Collateral Agent each agrees that it will raise no objection to such use or DIP Financing, any conditions thereto, or any other relief afforded to the Senior Agent or Senior Lender in connection therewith or to any priming of any Lien securing the DIP Financing to the Noteholder Common Lien so long as (i) the principal amount of such DIP Financing, together with the outstanding amount of principal under the Senior Credit Agreement immediately prior to the initial funding under the DIP Financing (and after giving effect to the application of proceeds of such initial funding) does not exceed $17,000,000 12,500,000 and (ii) in the event that any Noteholder Common Lien is primed by the DIP Financing (and all Obligations relating thereto), the Senior Lender Lien is also primed. In the event that the Senior Agent or Senior Lenders subordinate the Senior Lender Lien in connection with any such DIP Financing (and all Obligations relating thereto), the Trustee on behalf of itself and the Noteholders and the Collateral Agent will subordinate the Noteholder Priority Lien and Noteholder Common Lien to such DIP Financing (and all Obligations relating thereto).

Financing Issues. If any Obligor shall be subject to any Insolvency or Liquidation Proceeding and the Senior Agent shall desire to permit the use of cash collateral or to permit such Obligor to obtain financing under section 363 or section 364 of the Bankruptcy Code ("DIP Financing"), then the Trustee, on behalf of itself and the Noteholders, and the Collateral Agent each agrees that it will raise no objection to such use or DIP Financing, any conditions thereto, or any other relief afforded to the Senior Agent or Senior Lender in connection therewith or to any priming of any Lien securing the DIP Financing to the Noteholder Common Lien so long as (i) the principal amount of such DIP Financing, together with the outstanding amount of principal under the Senior Credit Agreement immediately prior to the initial funding under the DIP Financing (and after giving effect to the application of proceeds of such initial funding) does not exceed $17,000,000 12,500,000 and (ii) in the event that any Noteholder Common Lien is primed 145 by the DIP Financing (and all Obligations relating thereto), the Senior Lender Lien is also primed. In the event that the Senior Agent or Senior Lenders subordinate the Senior Lender Lien in connection with any such DIP Financing (and all Obligations relating thereto), the Trustee on behalf of itself and the Noteholders and the Collateral Agent will subordinate the Noteholder Priority Lien and Noteholder Common Lien to such DIP Financing (and all Obligations relating thereto).