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.

• The Debtor DIP Loan Parties are hereby authorized, and the Debtors are authorized and directed to use reasonable best efforts to cause the Non-Debtor DIP Loan Parties, as applicable, to execute, deliver, enter into and, as applicable, perform all of their obligations under the DIP Documents (including without limitation the DIP Intercreditor Agreement and the Syndicated Facility Amendment) and such other and further acts as may be necessary, appropriate or desirable in connection therewith.

• In the event of any conflict between the terms of the DIP Intercreditor Agreement and this Agreement with respect to lien priority, priority of proceeds of Collateral, mandatory prepayments or other rights and remedies in connection with the Collateral (as defined in the DIP Intercreditor Agreement), the terms of the DIP Intercreditor Agreement shall govern.

• All proceeds realized from any of the foregoing shall be turned over to the DIP Agents for application to the DIP Obligations under, and in accordance with the provisions of the DIP Documents, the DIP Intercreditor Agreement and this Order.

More Definitions of DIP Intercreditor Agreement

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 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.

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 March 11, 2009, between Agent, the DIP Term Agent and the Credit Parties.