Common use of No Credit Available on More Favorable Terms Clause in Contracts

No Credit Available on More Favorable Terms. The Debtors have been unable to obtain on more favorable terms and conditions than those provided in this Interim Order (a) adequate unsecured credit allowable under Bankruptcy Code Section 503(b)(1) as an administrative expense, (b) credit for money borrowed with priority over any or all administrative expenses of the kind specified in Sections 503(b) or 507(b) of the Bankruptcy Code, (c) credit for money borrowed secured by a lien on property of the estate that is not otherwise subject to a lien, or (d) credit for money borrowed secured by a junior lien on property of the estate which is subject to a lien. The Debtors are unable to obtain credit for borrowed money without granting the DIP Liens and the DIP Superpriority Claim (defined below) to (or for the benefit of) the DIP Secured Parties.

Appears in 3 contracts

Samples: Convertible Notes Commitment Agreement (Accuride Corp), Restructuring Support Agreement (Accuride Corp), Restructuring Support Agreement (Accuride Corp)

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No Credit Available on More Favorable Terms. The Debtors have been unable to obtain on more favorable terms and conditions than those provided in this Interim Order (a) adequate unsecured credit allowable under Bankruptcy Code Section section 503(b)(1) as an administrative expense, (b) credit for money borrowed with priority over any or all administrative expenses of the kind specified in Bankruptcy Code Sections 503(b) or 507(b) of the Bankruptcy Code), (c) credit for money borrowed secured solely by a lien Lien on property of the estate that is not otherwise subject to a lienLien, or (d) credit for money borrowed secured by a junior lien Lien on property of the estate which is subject to a lienLien, in each case, on more favorable terms and conditions than those provided in the DIP Credit Agreement, the Interim Order and this Final Order. The Debtors are unable to obtain credit for borrowed money without granting the DIP Liens and the DIP Superpriority Claim (defined below) to (or for the benefit of) the DIP Secured PartiesParties the DIP Protections (as defined below).

Appears in 2 contracts

Samples: Credit Agreement (Smurfit Stone Container Corp), Credit Agreement (Smurfit Stone Container Corp)

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No Credit Available on More Favorable Terms. The Debtors have been unable to obtain on more favorable terms and conditions than those provided in this Interim Order (a) adequate unsecured credit allowable under Bankruptcy Code Section section 503(b)(1) as an administrative expense, (b) credit for money borrowed with priority over any or all administrative expenses of the kind specified in Bankruptcy Code Sections 503(b) or 507(b) of the Bankruptcy Code), (c) credit for money borrowed secured solely by a lien Lien on property of the estate that is not otherwise subject to a lienLien, or (d) credit for money borrowed secured by a junior lien Lien on property of the estate which is subject to a lienLien, in each case, on more favorable terms and conditions than those provided in the DIP Credit Agreement and this Interim Order. The Debtors are unable to obtain credit for borrowed money without granting the DIP Liens and the DIP Superpriority Claim (defined below) to (or for the benefit of) the DIP Secured PartiesParties the DIP Protections (as defined below).

Appears in 1 contract

Samples: Credit Agreement (Smurfit Stone Container Corp)

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