Examples of DIP Lender in a sentence
Recharacterize or suffer the recharacterization of any portion of (i) the proceeds of the DIP Loans or the Collateral, (ii) the Carveout or (iii) cash collateral in which DIP Lender has an interest in any manner adverse to DIP Lender, Prepetition Lender or Prepetition Lessor, or use or suffer the use of any of property described in the foregoing clauses (i) through (iii) to commence or prosecute any action or objection with respect to the claims or the Liens of DIP Lender or Prepetition Lender.
DIP Lender shall record in its records, the date and amount of each DIP Loan made by DIP Lender, and each repayment thereof.
DIP Lender shall have received a certificate from Borrower's and its Subsidiaries insurance broker(s) or other evidence reasonably satisfactory to it that all insurance required to be maintained pursuant to Section 3.1(e) is in full force and effect and that DIP Lender has been named as additional insured and/or loss payee thereunder to the extent required under Section 3.1(e).
If DIP Lender becomes entitled to claim any additional amounts pursuant to this Section 1.8, it shall notify Borrower thereof within thirty (30) days after DIP Lender becomes aware of the nature and extent of such claim or, in any event, within a reasonable time thereafter; provided, however, failure of DIP Lender to give such notice pursuant to this Section 1.8 shall not relieve Borrower of any of its obligations hereunder.
If any Event of Default shall occur, at DIP Lender's option, all DIP Revolver Commitments and obligations of DIP Lender under this Agreement or the Related Documents or any other agreement between DIP Lender and Borrower immediately will terminate and all DIP Loans immediately will become due and payable, all without notice of any kind to Borrower.