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Common use of Payment of Obligations; No Discharge; Survival of Claims Clause in Contracts

Payment of Obligations; No Discharge; Survival of Claims. (a) Subject to the provisions of Section 8.02, upon the maturity (whether by acceleration or otherwise) of any of the Obligations of the Borrower under this Agreement or any of the other Loan Documents, the Lenders and the other Secured Parties shall be entitled to immediate payment of such Obligations without further application to or order of the Bankruptcy Court, and to exercise of any and all remedies under the Financing Orders. (b) The Borrower agrees that, to the extent that the Obligations have not been Paid in Full, (i) its Obligations arising hereunder shall not be discharged by the entry of any order of the Bankruptcy Court, including but not limited to an order confirming any chapter 11 plan or plans filed in any or all of the Cases (and the Borrower, pursuant to Section 1141(d)(4) of the Bankruptcy Code, hereby waives any such discharge) and (ii) the DIP Superpriority Claim granted to the Administrative Agent and the Lenders pursuant to the Financing Orders and described in Section 2.17 and the Liens on any assets of any Debtor Loan Parties granted to the Administrative Agent pursuant to the Financing Orders and described in Section 2.17 shall not be affected in any manner by the entry of any order of the Bankruptcy Court confirming any such plan.

Appears in 2 contracts

Samples: Senior Secured Debtor in Possession Credit Agreement (Sunedison, Inc.), Senior Secured Debtor in Possession Credit Agreement (Sunedison, Inc.)

Payment of Obligations; No Discharge; Survival of Claims. (a) Subject to the provisions of Section 8.028.01, upon the maturity (whether by acceleration or otherwise) of any of the Obligations of the Borrower Loan Parties under this Agreement or any of the other Loan Documents, the Lenders and the other Secured Parties shall be entitled to immediate payment of such Obligations without further application to or order of the Bankruptcy Court, and to exercise of any and all remedies under the Financing Orders. (b) The Borrower Each Loan Party agrees that, that to the extent that the Obligations hereunder have not been Paid satisfied in Fullfull in cash (other than contingent indemnity or expense reimbursement obligations and Cash Management Obligations and Secured Hedge Obligations that are cash collateralized) and the NM Commitments terminated, (i) its Obligations arising hereunder shall not be discharged by the entry of any order of the Bankruptcy Court, including but not limited to an order confirming any chapter Chapter 11 plan or plans filed in any or all of the Chapter 11 Cases (and the Borrower, pursuant to Section 1141(d)(4) of the Bankruptcy Code, hereby waives any such discharge) and (ii) the DIP Superpriority Claim granted to the Administrative Agent and the Lenders pursuant to the Financing Orders and described in Section 2.17 and the Liens on any assets of any Debtor Loan Parties granted to the Administrative Agent pursuant to the Financing Orders and described in Section 2.17 shall not be affected in any manner by the entry of any order of the Bankruptcy Court confirming any such plan.

Appears in 2 contracts

Samples: Superpriority Senior Debtor in Possession Credit Agreement (Paperweight Development Corp), Credit Agreement (Paperweight Development Corp)

Payment of Obligations; No Discharge; Survival of Claims. (a) Subject to the provisions of Section 8.028.01, upon the maturity (whether by acceleration or otherwise) of any of the Obligations of the Borrower Loan Parties under this Agreement or any of the other Loan Documents, the Lenders and the other Secured Parties shall be entitled to immediate payment of such Obligations without further application to or order of the Bankruptcy Court, and to exercise of any and all remedies under the Financing Orders. (b) The Borrower Each Loan Party agrees that, that to the extent that the Obligations hereunder have not been Paid satisfied in Full, full in cash (other than contingent indemnity or expense reimbursement obligations and Cash Management Obligations and Secured Hedge Obligations that are cash collateralized) (i) its Obligations arising hereunder shall not be discharged by the entry of any order of the Bankruptcy Court, including but not limited to an order confirming any chapter 11 plan or plans filed in any or all of the Cases (and the Borrower, pursuant to Section 1141(d)(4) of the Bankruptcy Code, hereby waives any such discharge) and (ii) the DIP Superpriority Claim granted to the Administrative Agent Agents and the Lenders pursuant to the Financing Orders and described in Section 2.17 2.23 and the Liens on any assets of any Debtor Loan Parties granted to the Administrative any Agent pursuant to the Financing Orders and described in Section 2.17 2.23 shall not be affected in any manner by the entry of any order of the Bankruptcy Court confirming any such plan.

Appears in 1 contract

Samples: Asset Based Revolving Credit Agreement (Verso Paper Holdings LLC)

Payment of Obligations; No Discharge; Survival of Claims. (a) Subject to the provisions of Section 8.028.01, upon the maturity (whether by acceleration or otherwise) of any of the Obligations of the Borrower Loan Parties under this Agreement or any of the other Loan Documents, the Lenders and the other Secured Parties shall be entitled to immediate payment of such Obligations without further application to or order of the Bankruptcy Court, and to exercise of any and all remedies under the Financing Orders. (b) The Borrower Each Loan Party agrees that, that to the extent that the Obligations hereunder have not been Paid satisfied in Fullfull in cash (other than contingent indemnity or expense reimbursement obligations and Cash Management Obligations and Secured Hedge Obligations that are cash collateralized) and the NM Commitments terminated, (i) its Obligations arising hereunder shall not be discharged by the entry of any order of the Bankruptcy Court, including but not limited to an order confirming any chapter 11 plan or plans filed in any or all of the Cases (and the Borrower, pursuant to Section 1141(d)(4) of the Bankruptcy Code, hereby waives any such discharge) and (ii) the DIP Superpriority Claim granted to the Administrative Agent Agents and the Lenders pursuant to the Financing Orders and described in Section 2.17 2.20 and the Liens on any assets of any Debtor Loan Parties granted to the Administrative any Agent pursuant to the Financing Orders and described in Section 2.17 2.20 shall not be affected in any manner by the entry of any order of the Bankruptcy Court confirming any such plan.

Appears in 1 contract

Samples: Superpriority Senior Debtor in Possession Term Loan Agreement (Verso Paper Holdings LLC)