Examples of Avoidance Proceeds in a sentence
The DIP Superpriority Claims shall for purposes of section 1129(a)(9)(A) of the Bankruptcy Code be considered administrative expenses allowed under section 503(b) of the Bankruptcy Code and shall be payable from and have recourse to all prepetition and postpetition property of the Debtor and all proceeds thereof, including, without limitation, to the extent a Final Order is entered providing for such relief, the Avoidance Proceeds.
For avoidance of doubt, nothing contained in this Final Order or otherwise shall impose any duty of marshaling upon the Prepetition Revolving Agent and/or the Prepetition Revolving Lenders of any nature or kind whatsoever, including, without limitation, any duty to suspend or otherwise delay any collection action with respect to, or any application of, any Avoidance Proceeds based on any alleged or otherwise identified prospect or expectation regarding the realization of any Non- Avoidance Proceeds.
Upon entry of a Final Order providing for such relief, the DIP Agent, for the benefit of itself and the DIP Lenders, is hereby granted valid, binding, enforceable, non-avoidable, and automatically and properly perfected postpetition security interests in and liens on Avoidance Proceeds of the Debtor’s Avoidance Actions.
The Adequate Protection Superpriority Claims shall for purposes of section 1129(a)(9)(A) of the Bankruptcy Code be considered administrative expenses allowed under section 503(b) of the Bankruptcy Code and shall be payable from and have recourse to all prepetition and postpetition property of the Debtor and all proceeds thereof, including, without limitation, subject to entry of the Final Order, the Avoidance Proceeds.
The Prepetition Term Loan 507(b) Claim shall be payable from and have recourse to all prepetition and postpetition property of the DIP Loan Parties and all proceeds thereof (excluding Avoidance Actions but including, upon entry of the Final Order, the Avoidance Proceeds).