DIP Financing Agreements definition
Examples of DIP Financing Agreements in a sentence
No Servicing Advance has been sold, transferred, assigned or pledged (other than a pledge that has been released as of the Closing including pursuant to the DIP Financing Agreements) by the related Seller to any Person other than the Purchaser.
Concurrently with the execution of this Agreement, Sellers entered (and caused their Subsidiaries to enter) into the DIP Financing Agreements, which includes a grant by Sellers to the lenders thereunder of a lien on Sellers’ rights under the Deposit Escrow Agreement, subject to the terms and conditions described therein.
Each Obligor hereby ratifies and reaffirms the Obligations, each of the DIP Financing Agreements and all of such Obligor's covenants, duties, indebtedness and liabilities under the Financing Agreements.
The DIP Financing Agreements represent valid and binding obligations of the Debtors enforceable against the Debtors in accordance with their terms.
Except as otherwise expressly provided in this Amendment, nothing herein shall be deemed to amend or modify any provision of the Loan Agreement or any of the other DIP Financing Agreements, each of which shall remain in full force and effect.
All (a) DIP Obligations shall be immediately due and payable, and (b) authority to use the proceeds of the DIP Financing Agreements and to use Cash Collateral shall cease, both on the date that is the earliest to occur of: (i) the Maturity Date, (ii) the Effective Date, and (iii) the acceleration of the Loans and the termination of the Revolving Commitments in accordance with the DIP Credit Agreement (the “Commitment Termination Date”).
Except as otherwise provided herein, no waiver, modification, or amendment of any of the provisions hereof shall be effective unless set forth in writing, signed by or on behalf of all the Debtors and the DIP Agents (after having obtained the approval of the DIP Secured Parties as provided in the DIP Financing Agreements) and approved by the Bankruptcy Court.
In the event of any inconsistency between the terms and conditions of the DIP Financing Agreements, the Interim Order and this Final Order, the provisions of this Final Order shall govern and control.
The failure of the Pre-Petition Secured Parties and the DIP Secured Parties to seek relief or otherwise exercise their rights and remedies under the DIP Financing Agreements, the DIP Facility, this Final Order or otherwise, as applicable, shall not constitute a waiver of any of the Pre-Petition Secured Parties’ and the DIP Secured Parties’ rights hereunder, thereunder, or otherwise.
The Debtors shall also provide to the Statutory Committee and the U.S. Trustee such advance notice as is reasonably practicable of all other modifications to the DIP Financing Agreements.