DIP Borrower definition
Examples of DIP Borrower in a sentence
If the amount of the Order Currency so purchased is less than the amount originally due to the LP DIP Lenders from the LP DIP Borrower on the Order Currency, the LP DIP Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the LP DIP Lenders against such deficiency.
Any agreement or instrument pursuant to which an LP DIP Lender sells such a participation shall provide that the relevant participant shall not be permitted to sell sub-participations to any natural person, the LP DIP Borrower or any of its Affiliates or any Disqualified Company or an Affiliate thereof that is not a financial institution, private equity firm, bona fide debt fund, or hedge fund.
A set of counterparts executed by all the partieshereto shall be lodged with the LP DIP Borrower and the LP DIP Lenders.
Amounts advanced by the DIP Borrower for the general corporate purposes of any Subsidiary in accordance with the DIP Credit Agreement shall be and are hereby subordinated to the Prepetition Obligations and the DIP Obligations and shall be pledged as collateral security on a first priority basis to secure the DIP Facility.
In order to enable them to continue to operate their businesses, subject to the terms and conditions of this Interim Order and the other DIP Loan Documents, the DIP Borrower is hereby authorized under the DIP Facility to borrow during the Interim Period (and the other Debtors are authorized to guarantee repayment of) up to an aggregate principal amount of $25,000,000.