Adequate Protection Lien definition

Adequate Protection Lien has the meaning set forth in Section 5.d.
Sample 1Sample 2Sample 3
Adequate Protection Lien has the meaning set forth in Section 3.d.
Sample 1Sample 2
Adequate Protection Lien means a lien granted by the Cash Collateral Order to the Prepetition Lenders on accounts receivable and cash generated and/or received by the Debtor post-petition solely to the extent of any diminution in the value of the Prepetition Lenders’ Cash Collateral.
Sample 1Sample 2

Examples of Adequate Protection Lien in a sentence

  • Upon occurrence of the Effective Date, the Administrative Agent’s Adequate Protection Lien on the Remaining Avoidance Actions (as defined below) will automatically be released, and the Prepetition Secured Parties shall not be entitled to any proceeds from such actions.

  • Until the Effective Date (as defined below), the Administrative Agent will retain an Adequate Protection Lien on the Remaining Avoidance Actions (as defined below, as and to the extent provided in the Final Cash Collateral Order).

  • Last date and time for submission of online Bids: 24th February, 2021, by 3 pm.

  • Any reversal, modification, vacatur, or stay of any or all of the provisions of this Interim Order (other than in accordance with the Final Order) shall not affect the validity or enforceability of any Adequate Protection Lien, or any claim, lien, security interest, or priority authorized or created hereby with respect to any Adequate Protection Lien, incurred prior to the effective date of such reversal, modification,vacatur, or stay.

  • The holders of any DIP Lien, Pre-Petition Lien, or Adequate Protection Lien are hereby relieved of any requirement to file proofs of claim in the Debtors’ bankruptcy cases with respect to any such Liens and the claims secured thereby, but any such holder may in its sole and absolute discretion file any such proof of claim.

  • The Debtor is the sole owner of and has good and marketable title to all of its properties and assets, and no such properties or assets are subject to any Liens, except Permitted Liens, Pre-Existing Liens and the Adequate Protection Lien.

  • For the avoidance of doubt, the Debtor reserves the right to contest, and to use Cash Collateral to contest, the existence or extent of any Diminution in Value for purposes of any Adequate Protection Claim or Adequate Protection Lien.

  • Upon the indefeasible cash payment of the Bauer Secured Claim, any and all liens and security interests held by Bauer against the Bauer Collateral, or otherwise, including, without limitation, the Bauer Adequate Protection Lien, shall automatically terminate and be deemed released without further order of the Court.

  • All liens and interests granted in or pursuant to this order, the Sale Order and the Previous Interim Orders shall survive the Termination Date; provided that any adequate protection liens granted by this Court, including the Additional Adequate Protection Lien, shall not cover any diminution in any Lenders’ collateral that occurs after the Termination Date.

  • The foregoing Collateral shall not include assets or property (other than Prepetition Collateral, including Cash Collateral) upon which, and solely to the extent that, the grant of an Adequate Protection Lien as contemplated in this Interim Order, would not be enforceable pursuant to applicable law, but shall include the proceeds thereof, which Adequate Protection liens are granted thereupon.


More Definitions of Adequate Protection Lien

Adequate Protection Lien has the meaning specified therefor in the Interim Order or the Final Order, as applicable.
Sample 1Sample 2
Adequate Protection Lien means the replacement lien provided to secured creditors, pursuant to section 361 of the Bankruptcy Code, to allow a debtor in bankruptcy to use such secured creditors collateral, while simultaneously protecting said secured creditor from the possible diminution in value of their collateral. For adequate protection for Pac West, the Debtors are providing Pac West with a replacement lien in machinery and Equipment, in the same priority as it had prepetition. Prepetition, Pac West also had a lien on the accounts receivable, inventory and accounts of RM Bakery, but since the Debtors owe Mayrich amounts in excess of the value of their collateral, Pac West subordinate position had no value as of the Petition Date. Accordingly, the Debtors are only providing adequate protection respect to their lien on machinery and Equipment. In addition, the Debtors will pay Pac West four percent (4%) per annum, of the maximum value of the Equipment, which at most is worth $448,500, on a monthly basis.
Sample 1
Adequate Protection Lien is defined in Section 5.1 of this Agreement.
Sample 1
Adequate Protection Lien has the meaning assigned to such term in the DIP Order.
Sample 1

Related to Adequate Protection Lien

  • Prepetition Collateral means the collateral securing the Prepetition BP Secured Claim, including, without limitation, the Posted Collateral.

  • Senior Lender Claims means (a) the principal of all Indebtedness outstanding under one or more of the Senior Lender Documents to the extent not prohibited by the Indenture (as in effect on the date hereof), and (b) all other Obligations not constituting principal of Indebtedness of any Obligor under the Senior Lender Documents, including, without limitation, all claims under the Senior Lender Documents for interest, fees, expense reimbursements, indemnification and other similar claims. Senior Lender Claims shall include all interest accrued or accruing (or which would, absent the commencement of an Insolvency or Liquidation Proceeding, accrue) after the commencement of an Insolvency or Liquidation Proceeding in accordance with and at the rate specified in the Senior Credit Agreement whether or not the claim for such interest is allowed as a claim in such Insolvency or Liquidation Proceeding. To the extent any payment with respect to the Senior Lender Claims (whether by or on behalf of any Obligor, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be fraudulent or preferential in any respect, set aside or required to be paid to a debtor in possession, trustee, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall be deemed to be reinstated and outstanding as if such payment had not occurred. Notwithstanding anything to the contrary contained in the first sentence of this definition, any principal Indebtedness (including reimbursement obligations for drawn or undrawn letters of credit) incurred under the Senior Credit Agreement shall constitute a "Senior Lender Claim" (whether or not such Indebtedness is at any time determined not to have been permitted to be incurred under the Indenture), to the extent, after giving effect to such incurrence, the aggregate principal amount of Indebtedness outstanding under the Senior Credit Agreement does not exceed $15,000,000 (less any prior permanent reductions in the Revolving Loan Commitment).

  • Securing means the application of Government-approved telecommunications security equipment, devices, techniques, or services to contractor telecommunications systems.

  • Prepetition means arising or accruing prior to the Petition Date.

  • DIP Obligations means “DIP Obligations” as defined in the DIP Order.

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Company or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • DIP means (1) the debtor in possession in a chapter 11 case in which no trustee has been appointed and is serving, and (2) the debtor in possession in a chapter 12 case in which the debtor has not been removed under §1204 without reinstatement.

  • Security Agreement Collateral means all "Collateral" as defined in the Security Agreement.

  • Security Instruments means, collectively, (a) the Mortgages, (b) the Transfer Letters, (c) the Pledge Agreements, (d) the Security Agreements, (e) each other agreement, instrument or document executed at any time in connection with the Pledge Agreements, the Security Agreements, or the Mortgages, (f) each agreement, instrument or document executed in connection with the Cash Collateral Account; and (g) each other agreement, instrument or document executed at any time in connection with securing the Obligations.

  • Possessory Collateral means any Shared Collateral in the possession of a Collateral Agent (or its agents or bailees), to the extent that possession thereof perfects a Lien thereon under the Uniform Commercial Code of any jurisdiction. Possessory Collateral includes, without limitation, any Certificated Securities, Promissory Notes, Instruments, and Chattel Paper, in each case, delivered to or in the possession of the Collateral Agent under the terms of the First-Lien Security Documents.

  • Second Lien Security Agreement means the “Security Agreement” as defined in the Second Lien Credit Agreement.

  • Bank Product Collateralization means providing cash collateral (pursuant to documentation reasonably satisfactory to Agent) to be held by Agent for the benefit of the Bank Product Providers (other than the Hedge Providers) in an amount determined by Agent as sufficient to satisfy the reasonably estimated credit exposure with respect to the then existing Bank Product Obligations (other than Hedge Obligations).

  • Senior Collateral Documents means the Security Agreement and the other “Collateral Documents” as defined in the Credit Agreement, the First Lien Intercreditor Agreement (upon and after the initial execution and delivery thereof by the initial parties thereto) and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any other Grantor for purposes of providing collateral security for any Senior Obligation.

  • Term Obligations shall have the meaning assigned that term in the Intercreditor Agreement.

  • DIP Financing Liens has the meaning assigned to such term in Section 2.05(b).

  • Second Lien With respect to each Mortgaged Property, the lien of the mortgage, deed of trust or other instrument securing a Mortgage Note which creates a second lien on the Mortgaged Property.

  • Superpriority Claim means a claim against the Borrower and any Guarantor in any of the Cases which is an administrative expense claim having priority over any or all administrative expenses of the kind specified in Sections 503(b) or 507(b) of the Bankruptcy Code.

  • DIP Motion means the motion and proposed form of Interim DIP Order filed by the Loan Parties with the Bankruptcy Court on the Petition Date or as soon as reasonably practicable thereafter seeking approval, on an interim and final basis, of (among other things) the DIP Facility, and authorization for the use of cash collateral (including such terms and conditions relating to adequate protection in connection therewith), in each case, in form and substance acceptable to the Agent and the Required Lenders.

  • DIP Financing Order means the Final Order (I) Authorizing Debtors (A) to Obtain Post-Petition Financing Pursuant to 11 U.S.C. §§ 105, 361, 362, 364(c)(1), 364(c)(2), 364(c)(3), 364(d)(1) and 364(e), (B) to Utilize Cash Collateral Pursuant to 11 U.S.C. § 363 and (C) to Purchase Certain Assets Pursuant to 11 U.S.C. § 363 and (II) Granting Adequate Protection to Pre-Petition Secured Parties Pursuant To 11 U.S.C. §§ 361, 362, 363 and 364, entered March 1, 2009 (Docket No.1002).

  • First Lien Security Agreement means the “Security Agreement” as defined in the First Lien Credit Agreement.

  • Collateral has the meaning specified in the Granting Clause of this Indenture.

  • Second Priority Obligations means (a) with respect to the Existing Second Priority Agreement, all “Secured Obligations” of each Loan Party as defined in the “Security Agreement” referred to in the Existing Second Priority Agreement and (b) with respect to each other Second Priority Agreement, (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all indebtedness under such Second Priority Agreement, and (ii) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the applicable Second Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any Second Priority Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, any First Priority Secured Party, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Priority Secured Parties and the Second Priority Secured Parties hereunder, be deemed to be reinstated and outstanding as if such payment had not occurred.

  • Security Interests means the security interests in the Collateral created hereby.

  • Subject Lien shall have the meaning provided in Section 10.2(a).

  • Discharge of Senior Lender Claims means, except to the extent otherwise provided in Section 5.7 below, payment in full in cash (except for contingent indemnities and cost and reimbursement obligations to the extent no claim has been made) of (a) all Obligations in respect of all outstanding Senior Lender Claims and, with respect to letters of credit or letter of credit guaranties outstanding thereunder, delivery of cash collateral or backstop letters of credit in respect thereof in compliance with the Credit Agreement, in each case after or concurrently with the termination of all commitments to extend credit thereunder and (b) any other Senior Lender Claims that are due and payable or otherwise accrued and owing at or prior to the time such principal and interest are paid; provided that the Discharge of Senior Lender Claims shall not be deemed to have occurred if such payments are made with the proceeds of other Senior Lender Claims that constitute an exchange or replacement for or a refinancing of such Obligations or Senior Lender Claims. In the event the Senior Lender Claims are modified and the Obligations are paid over time or otherwise modified pursuant to Section 1129 of the Bankruptcy Code, the Senior Lender Claims shall be deemed to be discharged when the final payment is made, in cash, in respect of such indebtedness and any obligations pursuant to such new indebtedness shall have been satisfied.

  • Second Lien Security Documents means the “Security Documents”, as defined in the Second Lien Credit Agreement, and any other agreement, document or instrument pursuant to which a Lien is granted to secure any Second Lien Obligations or under which rights or remedies with respect to any such Lien are governed.