Relationship with DIP Orders Sample Clauses
The 'Relationship with DIP Orders' clause defines how the terms of an agreement interact with any orders issued by a court regarding debtor-in-possession (DIP) financing during bankruptcy proceedings. Typically, this clause clarifies that the agreement is subject to, or must be interpreted in harmony with, the terms and conditions set forth in DIP orders, which may include provisions about priority of payments, use of collateral, or restrictions on certain actions by the debtor. Its core practical function is to ensure that the agreement does not conflict with court-mandated DIP financing arrangements, thereby maintaining legal compliance and protecting the interests of all parties involved during bankruptcy.
Relationship with DIP Orders. In the event of any inconsistency between the terms of the DIP Orders and the Loan Documents, the terms of the DIP Orders shall control and the representations, warranties, covenants, agreements or events of default made herein and in the other Loan Documents shall be subject to any express, contrary terms of the DIP Orders.
Relationship with DIP Orders. In the event of any inconsistency between the terms of the DIP Orders and this Agreement, the terms of the DIP Orders shall control.