DIP Financing Facility definition
Examples of DIP Financing Facility in a sentence
DRx shall not be required to provide any inventory pursuant to the DIP Financing Facility until the same is approved by the Banrkuptcy Court.
In addition to being secured the obligations of P&W to DRx under the DIP Financing Facility shall have the highest priority as expenses of administration pursuant to the provisions of sections 503(b), 507(a)(1) and 364(c)(2) and (3) of the United States Bankruptcy Code, and in any event shall be given administrative expense priority, and no expenses of administration of the bankruptcy case shall be granted a status pari passu or higher or greater than that of DRx.
As soon as reasonably practicable after the ------------------ commencement of P&W's bankruptcy case, P&W shall pursue diligently Bankruptcy Court approval of the Management Agreement, the DIP Financing Facility and a Plan incorporating the Acquisition agreement, all as set forth hereinabove.
Upon interim approval of the Management Agreement and of the following financing facility by the Bankruptcy Court, DRx agrees to provide P&W with debtor-in-possession financing upon terms to be mutually agreed upon between the parties (the "DIP Financing Facility").
The DIP Financing Facility shall be on such terms and conditions as are acceptable to DRx, in its sole discretion.