Common use of REORGANIZATIONAL MATTERS Clause in Contracts

REORGANIZATIONAL MATTERS. (a) The Chapter 9 Proceeding was commenced on the Petition Date in accordance in all material respects with applicable Law and proper notice thereof was provided by the Borrower and proper notice of (x) the motion seeking approval of the Loan Documents, the Lease, the Management Services Agreement and the Purchase Agreement and entry of (i) an interim Order authorizing the Borrower’s entry into the Loan Documents and the Initial Draw, the Lease, the Management Services Agreement and the Purchase Agreement (the “Interim DIP Order”) and a Final Order authorizing the Borrower’s entry into the Loan Documents and additional Borrowings thereunder (“the Final DIP Order”, and together with the Interim DIP Order, collectively, the “DIP Orders”) and (y) any hearing thereon will be given; provided, that the Borrower shall give, on a timely basis as specified in the DIP Orders, all notices required to be given to all parties specified in the DIP Orders. (b) After the entry of each of the DIP Orders (and subject to the terms therein), and pursuant to and to the extent provided in each such DIP Order, the Obligations will be secured by a valid and perfected Lien on all of the Collateral. (c) Once entered, the DIP Orders shall remain in full force and effect and shall not be reversed, stayed, modified or amended in an adverse manner without Lender’s consent. (d) The Approved Budget and all projected balance sheets, income statements and cash flow statements of the Borrower delivered to Lender were prepared in good faith on the basis of the assumptions stated therein, which assumptions were believed in good faith by the Borrower to be fair in light of the conditions existing at the time of delivery of such report or projection. (e) The Borrower’s plan of adjustment in the Chapter 9 Proceeding shall not contradict or supersede any provision of this Agreement or any of the Loan Documents.

REORGANIZATIONAL MATTERS. (a) The Chapter 9 Proceeding was commenced on the Petition Date in accordance in all material respects with applicable Law and proper notice thereof was provided by the Borrower and proper notice of (x) the motion seeking approval of the Loan Documents, the Lease, the Management Services Agreement and the Purchase Agreement Documents and entry of (i) an interim Order authorizing the Borrower’s entry into the Loan Documents and the Initial Draw, the Lease, the Management Services Agreement and the Purchase Agreement Draw (the “Interim DIP Order”) and a Final Order authorizing the Borrower’s entry into the Loan Documents and additional Borrowings thereunder (“the Final DIP Order”, and together with the Interim DIP Order, collectively, the “DIP Orders”) and (y) any hearing thereon will be given; provided, that the Borrower shall give, on a timely basis as specified in the DIP Orders, all notices required to be given to all parties specified in the DIP Orders. (b) After the entry of each of the DIP Orders (and subject to the terms therein), and pursuant to and to the extent provided in each such DIP Order, the Obligations will be secured by a valid and perfected Lien on all of the Collateral. (c) Once entered, the DIP Orders shall remain in full force and effect and shall not be reversed, stayed, modified or amended in an adverse manner without Lender’s consent. (d) The Approved Budget and all projected balance sheets, income statements and cash flow statements of the Borrower delivered to Lender were prepared in good faith on the basis of the assumptions stated therein, which assumptions were believed in good faith by the Borrower to be fair in light of the conditions existing at the time of delivery of such report or projection. (e) The Borrower’s plan of adjustment in the Chapter 9 Proceeding shall not contradict or supersede any provision of this Agreement or any of the Loan Documents.

REORGANIZATIONAL MATTERS. (a) The Chapter 9 Proceeding was commenced on the Petition Date in accordance in all material respects with applicable Law and proper notice thereof was provided by the Borrower and proper notice of (x) the motion seeking approval of the Loan Documents, the Lease, the Management Services Agreement and the Purchase Agreement Documents and entry of (i) an interim Order authorizing the Borrower’s entry into the Loan Documents and the Initial Draw, the Lease, the Management Services Agreement and the Purchase Agreement (the “Interim DIP Order”) and a Final Order authorizing the Borrower’s entry into the Loan Documents and additional Borrowings thereunder (“the Final DIP Order”, and together with the Interim DIP Order, collectively, the “DIP OrdersOrder”) and (y) any hearing thereon will be given; provided, that the Borrower shall give, on a timely basis as specified in the DIP OrdersOrder, all notices required to be given to all parties specified in the DIP OrdersOrder. (b) After the entry of each of the DIP Orders Order (and subject to the terms therein), and pursuant to and to the extent provided in each such the DIP Order, the Obligations [will be secured by a valid and perfected super priority Lien on all of the CollateralCollateral]9. (c) Once entered, the DIP Orders Order shall remain in full force and effect and shall not be reversed, stayed, modified or amended in an adverse manner without Lender’s consent. (d) The Approved Budget and all projected balance sheets, income statements and cash flow statements of the Borrower delivered to Lender were prepared in good faith on the 9 Note to draft: to be revised once collateral package is final. basis of the assumptions stated therein, which assumptions were believed in good faith by the Borrower to be fair in light of the conditions existing at the time of delivery of such report or projection. (e) The Borrower’s plan of adjustment in the Chapter 9 Proceeding shall not contradict or supersede any provision of this Agreement or any of the Loan Documents.