Prepetition Indebtedness. (a) Subject to Section 6.7, pay or discharge, or permit any Loan Party to pay or discharge, or cause to be paid or discharged, any Indebtedness of any Loan Party incurred before the Filing Date except as provided for in the Orders .
Prepetition Indebtedness. The Borrowers shall not pay or discharge, or cause to be paid or discharged, any Indebtedness of any Borrower incurred before the Filing Date other than payments:
(a) approved by the Bankruptcy Court and satisfactory to the Agent on or about the Filing Date in connection with the Borrowers’ “first day orders”;
(b) in respect of coverage for director and officer liabilities and constituting the deductible amounts under applicable director and officer insurance policies purchased by the Borrowers, not exceeding the total sum of $450,000;
(c) as required in any Reorganization Plan that provides for payment in full in cash of all of the Obligations, on or about the effective date of the Reorganization Plan;
(d) required to be made pursuant to an order of the Bankruptcy Court in the Cases for adequate protection pursuant to the Bankruptcy Code on account of Permitted Prior Liens approved in writing by the Agent; or
(e) of severance and other employee related payments approved by the Bankruptcy Court and satisfactory to the Agent; provided, however, the Borrowers shall be permitted to return up to $750,000 in the aggregate of Inventory shipped to any of the Borrowers prior to the Filing Date that would not otherwise be Eligible Inventory so as to pay or discharge, or caused to be paid or discharged pre-petition Indebtedness. None of the Borrowers shall seek, or file any motion with the Bankruptcy Court in accordance with Section 546(g) of the Bankruptcy Code seeking, to return any goods shipped to any of the Borrowers prior to the Filing Date, without the Agent’s consent in writing.
Prepetition Indebtedness. The Borrowers shall not pay or discharge, or cause to be paid or discharged, any Indebtedness of any Borrowers incurred before the Petition Date other than payments:
(a) approved by the Bankruptcy Court on or about the Petition Date in connection with orders entered prior to the formation of a statutory creditors’ committee,
(b) required to be made to the Prepetition Collateral Agent and the Prepetition Lenders pursuant to the Orders,
(c) required to be made pursuant to an order of the Bankruptcy Court in the Case for adequate protection pursuant to the Bankruptcy Code on account of Permitted Prior Liens or on account of other Liens primed pursuant to the Orders by the Liens securing the Obligations,
(d) as required in a Reorganization Plan, on or about the effective date of the Reorganization Plan, or
(e) of severance and other payments approved by the Bankruptcy Court and to which the Lenders consent in writing. None of the Borrowers shall file any motion with the Bankruptcy Court in accordance with Section 546(h) of the Bankruptcy Code seeking to return any goods shipped to any of the Borrowers prior to the Petition Date, without the Lenders’ consent in writing.
Prepetition Indebtedness. 35 6.16 Application to the Court . . . . . .. . . . . 35
Prepetition Indebtedness. No Borrower shall consent to any amendment, supplement or other modification of any of the terms or provisions contained in, or applicable to, any Prepetition Indebtedness if doing so would violate the provisions of the Bankruptcy Code or an order of the Bankruptcy Court.
Prepetition Indebtedness. Pay or discharge, or permit any of its Subsidiaries to pay or discharge, or cause to be paid or discharged, any Debt of such Loan Party incurred before the Petition Date other than payments:
(i) approved by the Bankruptcy Court and consented to by the Required Lenders;
(ii) consistent with the Budget;
(iii) required to be made to the Prepetition Agents and the Prepetition Lenders pursuant to the Orders (including, without limitation, amounts payable to the Special Counsel, the Financial Adviser, Stikeman Elliott LLP, as Canadian counsel, and Xxxxxxxxx Xxxxx Xxxxx & Xxxxx LLP, as Delaware counsel, each in connection with their representation of certain Prepetition Lenders); and
(iv) as required in the Plan of Reorganization, on or about the effective date of the Plan of Reorganization (except as otherwise expressly provided for therein). None of the Loan Parties shall, without the consent of the Required Lenders, file any motion with the Bankruptcy Court in accordance with Section 546(h) of the Bankruptcy Code seeking to return any goods shipped to any of the Loan Parties prior to the Petition Date.
Prepetition Indebtedness. No Borrower shall make any payment in ------------------------ respect of, or repurchase, redeem, retire or defease any, Prepetition Indebtedness except for:
(a) payment of the Liquidity Loan Payoff Amount as provided in SECTION 1.4;
(b) payments on account of Prepetition Indebtedness provided for in the Budget and authorized by an order of the Bankruptcy Court (including (i) "adequate protection" payments of monthly interest at the non-default rate under the Existing Credit Agreement, the 1995 Master Lease Agreement, the 1996 Master Lease Agreement,and (ii) the payment on account of the 1996 Obligations described in SECTION 1.3(b)(ii)(A), in each case pursuant to the terms of the relevant Adequate Protection Order);
(c) payments on account of Indebtedness secured by a Permitted Senior Encumbrance if the asset securing such Indebtedness has been sold or otherwise disposed of in accordance with SECTION 6.8 and such payment has been authorized by an order of the Bankruptcy Court; and
(d) payments pursuant to a plan of reorganization.
Prepetition Indebtedness. The Indebtedness constituting Prepetition Indebtedness (and all amounts owing in respect thereof) as of the date hereof are set forth in Schedule 7.02 annexed hereto. The Prepetition Obligations and the liens and security interests in the Prepetition Collateral are not subject to avoidance, defense, objection, action, counterclaim, setoff or subordination of any kind whatsoever, except pursuant to this Agreement and the Final Borrowing Order. The Prepetition Obligations constitute legal, valid and binding obligations of the Borrower, enforceable in accordance with the terms of the Prepetition Credit Documents and the Indenture, as the case may be, and pursuant to applicable law, except as limited by Debtor Relief Laws (regardless whether such enforceability is considered in a proceeding at law or in equity).
Prepetition Indebtedness. Indebtedness under the Credit Agreement, dated as of May 30, 2008 (as amended, modified and supplemented from time to time), by and among VeraSun Energy Corporation, VeraSun Fort Dodge, LLC, VeraSun Xxxxxxx, LLC, VeraSun Welcome, LLC, VeraSun Xxxxxxx City, LLC, VeraSun Aurora Corporation, and VeraSun Marketing, LLC, together with VeraSun Energy Corporation, as borrowers, UBS AG, Stamford Branch, as issuing bank, administrative agent, and co-collateral agent, UBS Securities LLC, as lead arranger, documentation agent, and syndication agent, UBS Loan Finance LLC, as Swingline Lender, and the other agents and lenders from time to time parties thereto, and the other Loan Documents (as defined therein). Indebtedness under the 9 7/8% Senior Secured Notes due 2012, issued under an Indenture, dated as of December 21, 2005 (as amended, modified and supplemented from time to time), by and among VeraSun Energy Corporation, as issuer, VeraSun Aurora Corporation, VeraSun Fort Dodge, LLC, VeraSun Xxxxxxx City, LLC, VeraSun Marketing, LLC, as subsidiary guarantors, and other subsidiary guarantors party thereto, and Xxxxx Fargo Bank, N.A., as trustee, the Securities and the Security Documents (each as defined therein). Indebtedness under the 9 3/8 Senior Notes due 2017, issued under an Indenture, dated as of May 16, 2007 (as amended, modified and supplemented from time to time), by and among VeraSun Energy Corporation, as issuer, VeraSun Aurora Corporation, VeraSun Fort Dodge, LLC, VeraSun Xxxxxxx City, LLC, VeraSun Marketing, LLC, VeraSun Xxxxxxx, LLC, VeraSun Biodiesel, LLC, VeraSun Welcome, LLC, VeraSun Granite City, LLC, and VeraSun Xxxxxxxx, LLC, as subsidiary guarantors, and other subsidiary guarantors party thereto, and Xxxxx Fargo Bank, N.A., as trustee, and the Securities (as defined therein). Promissory Note of VeraSun Xxxxxxxx, LLC (the “Borrower”) payable to White County, Indiana (as “Issuer”), in the principal sum of $12,465,000, issued under the Loan Agreement dated as of September 1, 2007 between Issuer and Borrower. Outstanding Letters of Credit – See Attached. Liabilities associated with liens permitted under Section 7.3. Debt secured by Liens referenced on Schedule 7.3. Guarantee Obligations referenced on Schedule 7.4. Northern Natural Gas STB0520007400 $ 228,125 2.25 % Quarterly 7/19/2009 evergreen-30 days Northern Natural Gas STB0620003400 $ 2,007,855 2.25 % Quarterly 6/1/2017 evergreen-30 days Xxxxxx STB07200052 MOVED TO UBS Quarterly Cancelled Norther...
Prepetition Indebtedness. The Indebtedness and Contingent Obligations constituting Prepetition Indebtedness (and all amounts owing in respect thereof) of Borrowers as of the Petition Date are set forth on Schedule 7.1 annexed hereto. The Prepetition Obligations are secured by valid and enforceable first priority liens and security interests granted by the Prepetition Loan Parties to the Prepetition Agent, for the ratable benefit of the Prepetition Lenders, upon all of the Prepetition Collateral, subject only to Permitted Encumbrances. The Prepetition Obligations and the liens and security interests of the Prepetition Agent, for the ratable benefit of the Prepetition Lenders, in the Prepetition Collateral are not subject to avoidance, defense, objection, action, counterclaim, setoff or subordination of any kind whatsoever. The Prepetition Obligations constitute legal, valid and binding obligations of each Loan, enforceable in accordance with the terms of the Prepetition Credit Documents and pursuant to applicable law, except as limited by general equitable principles (regardless whether such enforceability is considered in a proceeding at law or in equity).
