Use of Cash Collateral. Notwithstanding anything to the contrary contained herein, the Borrower shall not be permitted to request a Borrowing under Section 2.04 or request the issuance of a Letter of Credit under 2.03 unless the Bankruptcy Court shall have entered the Approval Order and shall at that time have granted to the Borrower use of all cash collateral, subject to the Approval Order, for the purposes described in Section 3.09.
Use of Cash Collateral. Subject to the terms and conditions set forth in this Interim Order, the Borrower is authorized, pursuant to section 363(c)(2)(B) of the Bankruptcy Code, to use the Prepetition Lenders’ Cash Collateral for the period of time from the date hereof until the occurrence of a “Termination Event,” which shall mean the earliest to occur of (i) 30 days after the date of entry of this Interim Order if the Final Order has not been entered by such date, (ii) the occurrence of the Maturity Date, (iii) the determination by the Postpetition Lender to terminate the DIP Financing following the occurrence of an Event of Default, (iv) the date on which neither this Interim Order nor the Final Order is in full force and effect, (v) the date on which any Cash Collateral is not expended in accordance with the provisions of this Interim Order, the DIP Budget (as in effect on the date hereof), or the DIP Financing Term Sheet (as in effect on the date hereof), (vi) the date on which the Borrower seeks or receives authorization from this Court to borrow more than the principal amount of $5,000,000.00 (inclusive of borrowings authorized under this Interim Order) under the Postpetition Financing Documents or any other financing arrangements prior to, on or after entry of the Final Order without being authorized, directed and required, as a condition to such additional borrowings, to immediately and indefeasibly repay and satisfy in full, in cash all of the Postpetition Obligations from the proceeds of such additional borrowings, (vii) the date on which the Borrower’s Chapter 11 Case is converted to a case under chapter 7 of the Bankruptcy Code, (viii) the date on which a trustee or examiner with expanded powers is appointed in the Borrower’s Chapter 11 Case, or (ix) the date on which the Borrower fails to make any payments to the Prepetition Lenders when due in accordance with this Interim Order.
Use of Cash Collateral. The Administrative Agent shall apply Cash Collateral from time to time (i) in the manner provided under Section 10.22 and (ii) to the repayment of Loans on the Latest Maturity Date or to the prepayment thereof, including, without limitation, pursuant to Section 2.6(c) (including, in each case, each related required interest payment), as the Company shall request in writing, upon receipt by the Administrative Agent of the following:
Use of Cash Collateral. Notwithstanding anything to the contrary contained herein, neither the U.S. Borrower nor the Canadian Borrower shall be permitted to request a Borrowing under Section 2.7 unless the Loan Parties shall at that time have the use of substantially all cash collateral subject to the Orders for the purposes described in Section 3.10.
Use of Cash Collateral. Notwithstanding anything to the contrary contained herein, neither the Parent Borrower nor any Subsidiary Borrower shall be permitted (i) to request a Borrowing under Section 2.6 or request the issuance of a Letter of Credit under Section 2.3 unless the Bankruptcy Court shall have entered the Interim Order, or (ii) to request a Borrowing under Section 2.6 unless the Borrowers shall at that time have the use of all cash collateral subject to the Orders for the purposes described in Section 3.10.
Use of Cash Collateral. Prior to the Forbearance Date, absent a Forbearance Default under this Agreement, Lender will permit a portion of Collections, in such amounts as determined by Lender in its good faith discretion from time to time, to be used by the Loan Parties for Approved Expenses necessary to continue the operations of the same and in accordance with the terms of this Agreement. The Loan Parties shall provide expense reconciliations on the last Business Day of the month for expenses incurred in the immediately prior month, and may request, subject to the approval of Lender in its good faith discretion, amounts in excess of the budgeted amount for anticipated operating expenses. If such reconciliation indicates that monthly expenses were less than the budgeted amount, the difference between the actual expenses and the budgeted amount shall be returned to Lender or retained and applied against the next month’s expenses, in Lender’s sole discretion. Lender shall have no obligation to advance any sums pursuant to this Agreement at any time when a set of facts or circumstances exist, which, by themselves, upon the giving of notice, the lapse of time, or any one or more of the foregoing would constitute a Forbearance Default.
Use of Cash Collateral. Nothing herein will be deemed to be a consent by Surety that Indemnitors use any “cash collateral,” within the meaning of Section 363 of the Bankruptcy Code, including without limitation proceeds from Bonded Contracts, the Existing Pledged Collateral, and the Collateral. In the event that a court of competent jurisdiction determines that, notwithstanding the foregoing, Indemnitors may use any such “cash collateral” then Indemnitors stipulate that the “cash collateral” so used will be disbursed first to the payment of amounts for which Surety is or may become liable under the Bonds, including the payment of bona fide claims for labor, services, and supplies incurred in connection with Bonded Contracts; and second, subject to the availability of periodic surplusages of remaining proceeds from Bonded Contracts, to the payment of Overhead on Bonded Contracts which is ordinary and necessary; provided, however, a stringent standard will be used when determining what constitutes “ordinary and necessary” Overhead.
Use of Cash Collateral. Until the Working Capital Obligations Payment Date, if an Insolvency Proceeding was commenced, the Term Loan Representative, as holder of a Junior Lien on the Working Capital Priority Collateral, will not contest, protest or object to, and each Junior Secured Party will be deemed to have consented to, any use, sale or lease of “cash collateral” (as defined in section 363(a) of the Bankruptcy Code), provided that the Term Loan Representative otherwise retains its Junior Lien on the Working Capital Priority Collateral and any Liens granted as adequate protection and subject to this Agreement. Until the Term Loan Obligations Payment Date, if an Insolvency Proceeding has commenced, the Working Capital Representative, as holder of a Junior Lien on the Term Loan Priority Collateral, will not contest, protest or object to, and each Junior Secured Party will be deemed to have consented to, any use, sale or lease of “cash collateral” (as defined in section 363(a) of the Bankruptcy Code), provided that Working Capital Representative otherwise retains its Junior Lien on the Term Loan Priority Collateral and any Liens granted as adequate protection and subject to this Agreement.
Use of Cash Collateral. The Debtors shall be permitted to use the Lenders’ cash collateral on a consensual basis on the following key terms:
Use of Cash Collateral. Prior to the Forbearance Date, absent a Forbearance Default under this Agreement, Lender will permit a portion of Collections, in such amounts as determined by Lender in its good faith discretion from time to time, to be used by Guarantor and the Borrowers for Approved Expenses necessary to continue the operations of the same and in accordance with the terms of this Agreement. Lender shall have no obligation to advance any sums pursuant to this Agreement at any time when a set of facts or circumstances exist, which, by themselves, upon the giving of notice, the lapse of time, or any one or more of the foregoing would constitute a Forbearance Default.
