Examples of DIP in a sentence
Recharacterize or suffer the recharacterization of any portion of (i) the proceeds of the DIP Loans or the Collateral, (ii) the Carveout or (iii) cash collateral in which DIP Lender has an interest in any manner adverse to DIP Lender, Prepetition Lender or Prepetition Lessor, or use or suffer the use of any of property described in the foregoing clauses (i) through (iii) to commence or prosecute any action or objection with respect to the claims or the Liens of DIP Lender or Prepetition Lender.
Xxxxxxxx understands and agrees that DIP Xxxxxx is relying upon the above representations and warranties in entering into this Agreement.
Xxxxxxxx agrees that the foregoing representations and warranties shall be continuing in nature and shall remain in full force and effect until, unless otherwise specified herein, such time as the DIP Loans and the DIP Note shall be paid in full, or until this Agreement shall be terminated in the manner provided above, whichever is the last to occur.
If DIP Lender becomes entitled to claim any additional amounts pursuant to this Section 1.8, it shall notify Borrower thereof within thirty (30) days after DIP Lender becomes aware of the nature and extent of such claim or, in any event, within a reasonable time thereafter; provided, however, failure of DIP Lender to give such notice pursuant to this Section 1.8 shall not relieve Borrower of any of its obligations hereunder.
It is acknowledged and agreed by Xxxxxxxx and DIP Lender that the loan transaction evidenced hereby bears a reasonable relationship to the State of New York.