DIP Intercreditor Agreement definition

DIP Intercreditor Agreement means the amended and restated intercreditor agreement, by and among the ABL Agent and the Term Loan Agent, which amended and restated the prepetition intercreditor agreement in its entirety, and is binding and enforceable against the Borrowers (as such term is defined in the DIP Orders), the other “Grantors” thereunder, the Prepetition Secured Parties, and the DIP Lenders in accordance with its terms.

DIP Intercreditor Agreement means that certain intercreditor agreement, dated as of June 14, 2015, by and between the Debtors, the DIP Senior Loan Agent, the DIP Term Loan Agent, the Senior Loan Agent, and the Term Loan Agent.

DIP Intercreditor Agreement shall have the meaning assigned to such term in the Collateral Trust Agreement.

Examples of DIP Intercreditor Agreement in a sentence

• The Bidding Procedures will set forth the terms of an Initial Minimum Overbid, will provide that all bids for the ABL Priority Collateral must be in cash unless otherwise agreed by the DIP ABL Agent (with respect to the ABL Priority Collateral), and will provide that any bids placed by any of the DIP Agents or the Prepetition Agents must be in accordance with the DIP Intercreditor Agreement.

• If an Entity other than the Term Loan Lenders is the Winning Bidder, each Holder of an Allowed Last Out DIP Loan Claim (or to the extent the Last Out Loans are not rolled into the Last Out DIP Loans, the Holders of Last Out Loans) shall receive payments in accordance with the waterfall provisions of the DIP ABL Credit Agreement, the DIP Intercreditor Agreement, and the Final DIP Order.

• Notwithstanding anything herein to the contrary, the Liens and security interest granted to Agent pursuant to this Agreement and the other Loan Documents and the exercise of any right or remedy by the Agent with respect to the Collateral (as defined in the DIP Intercreditor Agreement), as the case may be, hereunder and thereunder are subject to the provisions of the DIP Intercreditor Agreement.

• The Debtors shall not sell, transfer, lease, encumber or otherwise dispose of any portion of the DIP ABL Priority Collateral or Prepetition ABL Priority Collateral other than in the ordinary course of business without the prior written consent of the DIP ABL Agent and Prepetition ABL Agent, except as otherwise provided for in the DIP ABL Documents, and subject to the DIP Intercreditor Agreement.

• Each member of the Lender Group authorizes and directs Agent to enter into this Agreement, the DIP Intercreditor Agreement and the other Loan Documents.

More Definitions of DIP Intercreditor Agreement

DIP Intercreditor Agreement means the DIP Intercreditor Agreement dated as of the Closing Date, by and among the Administrative Agent, the Collateral Agent and the DIP ABL Agent, and acknowledged by the Loan Parties, substantially in the form of Exhibit G or such other form agreed to by the Administrative Agent and the Collateral Agent, as such document may be amended, renewed, extended, supplemented, restated or otherwise modified from time to time.

DIP Intercreditor Agreement means a customary intercreditor agreement, negotiated in good faith by the Required Lenders, in the form approved by the Required Lenders (such approval not to be unreasonably withheld, conditioned or delayed (giving deference to the expected funding date under the DIP Term Loan)) and entered into in connection with the DIP Junior Priority Collateral.

DIP Intercreditor Agreement means that certain Intercreditor and Security Agreement, dated as of October 18, 2002, among the Debtors, the DIP LC Agent, the DIP LC Participants, SCTSC, the DIP Term Lender Agent, the DIP Term Lenders and the DIP Collateral Agent.

DIP Intercreditor Agreement means that certain Intercreditor Agreement, dated as of the date hereof, entered into between Agent and DIP ABL Agent, as amended and in effect from time to time.

DIP Intercreditor Agreement means that certain Intercreditor Agreement, dated as of April 24, 2020, among Parent, the Borrower, the Collateral Agent, the Security Trustee, the borrowers party to the Pre-Petition First Lien Credit Agreement, the Existing DIP Collateral Agent, the Existing DIP Security Trustee, the Pre-Petition First Lien Security Agents and the other parties thereto, as amended, restated, supplemented or otherwise modified from time to time, including pursuant to that certain Joinder Agreement No. 1, dated as of the date hereof, among Parent, the Collateral Agent, the Security Trustee, and the other parties thereto.

DIP Intercreditor Agreement means that certain Intercreditor Agreement, dated as of the date hereof, among Parent, the Borrower, the borrowers party to the Pre-Petition First Lien Credit Agreement, the Collateral Agent, the Security Trustee, the Pre-Petition First Lien Security Agents and the other parties thereto.

DIP Intercreditor Agreement means that certain Intercreditor Agreement, dated as of the Effective Date, between the Administrative Agent and the DIP Term Agent.