Examples of Final DIP Financing Order in a sentence
The Final DIP Financing Order granted security interests to the DIP Lenders that are senior to the preexisting security interests of the Senior Secured Credit Facility, the Bridge Loan Agreement, the ARCO Notes and the Equistar Notes (the prepetition secured debts hereinafter collectively, the “Primed Debt,” and the prepetition secured lenders hereinafter collectively, “Primed Parties”).
Either the Interim DIP Financing Order or Final DIP Financing Order shall be in full force and effect and shall not have been vacated, reversed, modified, amended or stayed (except to the extent that the Interim DIP Financing Order is replaced and superseded by the Final DIP Financing Order) and shall be in form and substance satisfactory to the Administrative Agent.
Any outstanding and unpaid Senior Lender Expenses incurred, or estimated to be incurred, up to and including the Plan Effective Date shall be paid in full in Cash on the Plan Effective Date without the requirement to file a fee application with the Bankruptcy Court or comply with any guidelines of the U.S. Trustee, and, subject to the Final DIP Financing Order, without any requirement for review or approval by the Bankruptcy Court or any Entity.
On April 20, 2009, BNY filed an appeal of the Final DIP Financing Order in the District Court for the Southern District of New York (the “First DIP Order Appeal”).
On December 24, 2009, BNY filed a motion for the allowance and payment of a section 507(b) superpriority administrative expense claim (the “507(b) Motion”), asserting that the adequate protection granted to BNY pursuant to the Final DIP Financing Order failed, and that the resulting diminution in BNY’s secured claim created an entitlement to a superpriority claim in an amount not less than $361.5 million.