Common use of Post-Petition Claims Clause in Contracts

Post-Petition Claims. (a) None of the Second Priority Representative, the Trustee or any Second Priority Secured Party shall oppose or seek to challenge any claim by the First Priority Representative or any First Priority Secured Party for allowance in any Insolvency Proceeding of First Priority Obligations consisting of Post-Petition Interest or indemnities to the extent of the value of the Lien in favor of the First Priority Representative and the First Priority Secured Parties, without regard to the existence of the Lien of the Second Priority Representative on behalf of the Second Priority Secured Parties on the Common Collateral. (b) None of the First Priority Representative or any First Priority Secured Party shall oppose or seek to challenge any claim by the Second Priority Representative, the Trustee or any Second Priority Secured Party for allowance in any Insolvency Proceeding of Second Priority Obligations consisting of Post-Petition Interest or indemnities to the extent of the value of the Lien of the Second Priority Representative on behalf of the Second Priority Secured Parties on the Common Collateral (after taking into account the Liens in favor of the First Priority Representative).

Post-Petition Claims. (a) None of the Second Priority Representative, the Trustee or any Second Priority Secured Party shall oppose or seek to challenge any claim by the First Priority Representative or any First Priority Secured Party Creditors for allowance in any Insolvency Proceeding of First Priority Obligations consisting of Post-Petition Interest or indemnities and other amounts referred to in Section 506(b) of the Bankruptcy Code to the extent of the value of the Lien in favor of the First Priority Representative and the First Priority Secured PartiesCreditors on Common Collateral, without regard to the existence of the Lien of the Second Priority Representative on behalf of the Second Priority Secured Parties on the Common Collateral. (b) None of the First Priority Representative or any First Priority Secured Party Creditors shall oppose or seek to challenge any claim by the Second Priority Representative, the Trustee or any Second Priority Secured Party for allowance in any Insolvency Proceeding of Second Priority Obligations consisting of Post-Petition Interest or indemnities to the extent of the value of the Lien of the Second Priority Representative on behalf of the Second Priority Secured Parties on the Common Collateral (after taking into account the Liens in favor of the First Priority RepresentativeCreditors).