First Lien Winddown Order definition

First Lien Winddown Order means the Agreed Order, Pursuant to Sections 105, 361, 362 and 363 of the Bankruptcy Code, Bankruptcy Rules 2002 and 4001 and Local Bankruptcy Rule 4001-2, (A) Authorizing Debtors to Use Cash Collateral of the Prepetition Secured Lenders in Support of the Administration and Disposition of Their Collateral and (B) Granting Related Relief entered by the Bankruptcy Court on November 19, 2009 (Docket No. 5981), pursuant to which the First Lien Lenders agreed to the use of their cash collateral to fund the preservation and liquidation of the First Lien Collateral, subject to certain terms and conditions. A copy of the First Lien Winddown Order is attached hereto as Plan Exhibit X.A.115.
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First Lien Winddown Order means the Agreed Order, Pursuant to Sections 105, 361, 362 and
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Examples of First Lien Winddown Order in a sentence

  • As set forth in the Plan and the First Lien Winddown Order (and subject to the terms thereof), net proceeds of any First Lien Collateral will be transferred into the First Lien Reserve to the extent necessary to maintain the Minimum Amount (as defined in the First Lien Winddown Order) in the First Lien Reserve during the Covered Period.

  • To the extent not otherwise provided in the Plan, the other terms of the First Lien Winddown Order shall continue to govern the treatment of the First Lien Collateral and the rights and obligations of the Liquidation Trust (as successor in interest to the Debtors) and the First Lien Agent, the Collateral Trustee and the First Lien Lenders.

  • The Covered Costs incurred by the Liquidation Trust in connection with the liquidation or other disposition of First Lien Trust Assets shall be funded solely from the First Lien Reserve in accordance with the First Lien Winddown Order; provided that the treatment of Covered Costs with respect to the Company Cars shall be subject to treatment consistent with paragraph 15 of the First Lien Winddown Order.

  • After the conclusion of the Covered Period, the funds remaining in the First Lien Reserve will be subject to the treatment set forth herein and in the First Lien Winddown Order and, after distribution of these funds, the First Lien Reserve will be closed.

  • Subject to the foregoing and the other terms of the Plan, the terms of the First Lien Winddown Order shall remain in full force and effect.

  • After several months of discussions, these various matters were resolved pursuant to the terms of two agreed orders described below: the First Lien Winddown Order and the DIP Lender Winddown Order (collectively, the "Winddown Orders").

  • Consistent with the First Lien Winddown Order (defined below), the net proceeds of the sale (after payment of closing costs) were paid to the First Lien Agent on behalf of the First Lien Lenders.

  • The First Lien Winddown Order provides for (a) the establishment of a $15 million reserve from existing First Lien Collateral to pay for certain of the Covered Costs (which reserve is subject to a $3 million minimum funding at all times), as well as (b) the payment of closing costs directly from the proceeds of the sale of First Lien Collateral.

  • It establishes a framework for the orderly liquidation and administration of the First Lien Collateral by providing a set of procedures, whereby assets are identified and designated to be sold, foreclosed upon, abandoned or otherwise disposed of in accordance with the First Lien Winddown Order.

  • The First Lien Winddown Order is premised on an acknowledgement that (a) the Debtors maintain no equity in the First Lien Collateral and (b) First Lien Lenders are the primary economic stakeholders with respect to the First Lien Collateral.

Related to First Lien Winddown Order

  • Final Order means, as applicable, an order or judgment of the Bankruptcy Court or other court of competent jurisdiction with respect to the relevant subject matter that has not been reversed, stayed, modified, or amended, and as to which the time to appeal or seek certiorari has expired and no appeal or petition for certiorari has been timely taken, or as to which any appeal that has been taken or any petition for certiorari that has been or may be filed has been resolved by the highest court to which the order or judgment could be appealed or from which certiorari could be sought or the new trial, reargument, or rehearing shall have been denied, resulted in no modification of such order, or has otherwise been dismissed with prejudice.

  • Sale Order means an order or orders of the Bankruptcy Court in form and substance reasonably acceptable to Buyer and Seller approving this Agreement and all of the terms and conditions hereof, and approving and authorizing Seller to consummate the Transactions.

  • Confirmation Order means the order of the Bankruptcy Court confirming the Plan pursuant to section 1129 of the Bankruptcy Code.

  • FCC Order means Federal Communications Commission Order 94-102 (61 Federal Register 40348)

  • Second Lien Facility means the second lien term loan facility under the Second Lien Credit Agreement.

  • Sale Motion means the motion or motions of Sellers filed with the Bankruptcy Court seeking approval and entry of the Sale Order.

  • Preliminary Approval Order means the proposed Order Granting Preliminary Approval of Class Action Settlement, Approving Form and Manner of Notice, and Setting Date for Hearing on Final Approval of Settlement, which, subject to the approval of the Court, shall be substantially in the form attached hereto as Exhibit A.

  • Sanction Order means the Court Order to be sought by the Participating CCAA Parties from the Court as contemplated under the Plan which, inter alia, approves and sanctions the Plan and the transactions contemplated thereunder, pursuant to section 6(1) of the CCAA, substantially in the form of Schedule “E” or otherwise in form and content acceptable to the Participating CCAA Parties, the Monitor and the Parent, in each case, acting reasonably;

  • Medication order means a written or verbal order from a

  • Final Financing Order means, the order of the Bankruptcy Court entered in the Chapter 11 Cases after a final hearing under Bankruptcy Rule 4001(c)(2) or such other procedures as approved by the Bankruptcy Court, which order shall be in form and substance reasonably satisfactory to the Agent and from which no appeal or motion to reconsider has been filed, together with all extensions, modifications and amendments thereto, in form and substance satisfactory to the Agent and the Required Lenders, which, among other matters but not by way of limitation, authorizes the Loan Parties to obtain credit, incur the Obligations, and grant Liens under this Agreement and the other Loan Documents, as the case may be, and provides for the super-priority of the claims of the Agent and Lenders, subject to the Carve- Out and Permitted Prior Liens.

  • Written Order means a written order signed by the General Manager or properly authorized representative or agent, mailed to the Contractor at the address designated in the firm's Bid, or to such other address as may be designated in writing as its official place of business.

  • Approval Order means an order entered by the Bankruptcy Court, pursuant to Sections 363 and 365 of the Bankruptcy Code, authorizing and approving, among other things, (a) the sale of the Purchased Assets (b) the assumption of the Assumed Liabilities by Purchaser and (c) the assumption and assignment of the Purchased Contracts, in accordance with the terms and conditions of this Agreement, which will be in a form and substance reasonably acceptable to the Parties.

  • Additional First Lien Secured Party means the holders of any Additional First-Lien Obligations and any Authorized Representative with respect thereto, and shall include the Initial Additional First-Lien Secured Parties.

  • Final DIP Order means an order of the Bankruptcy Court approving the Loans, this Agreement and the other Loan Documents on a final basis, which order shall be (a) in form and substance acceptable to the Administrative Agent, and (b) in full force and effect and shall not have been reversed, vacated, stayed or subject to appeal.

  • DIP Facility Claim means a Claim arising under or as a result of the DIP Facility.

  • Additional First Lien Secured Parties means the holders of any Additional First Lien Obligations and any trustee, authorized representative or agent of such Additional First Lien Obligations.

  • U.S. Bankruptcy Court means the United States Bankruptcy Court for the Southern District of New York.

  • DIP Facility means the debtor-in-possession secured financing facility provided to the Debtors by the DIP Lenders pursuant to the DIP Credit Agreement as authorized by the Bankruptcy Court pursuant to the DIP Facility Order.

  • Final Cash Collateral Order means the Final Order of the Bankruptcy Court entered on March 30, 2020, wherein the Bankruptcy Court authorized the Debtors’ continued use of cash collateral subject to certain conditions contained therein.

  • DIP Motion means a motion to be filed by the Debtors with the Bankruptcy Court seeking Bankruptcy Court approval of the DIP Facility, which motion shall be consistent in all material respects with this Agreement and otherwise in form and substance reasonably acceptable to the Requisite Parties.

  • First Lien Last Out Loan means a loan that, prior to an event of default under the applicable Related Contract, is entitled to receive payments pari passu with other senior secured loans of the same Obligor, but following an event of default under the applicable Related Contract, such Collateral Loan becomes fully subordinated to other senior secured loans of the same Obligor and is not entitled to any payments until such other senior secured loans are paid in full.

  • Additional First Lien Obligations means, with respect to any Series of Additional First Lien Obligations, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Additional First Lien Obligations, (b) all other amounts payable to the related Additional First Lien Secured Parties under the related Additional First Lien Documents and (c) any renewals of extensions of the foregoing.

  • Additional First Lien Documents means, with respect to any Series of Additional First Lien Obligations, the notes, credit agreements, indentures, security documents and other operative agreements evidencing or governing such Indebtedness, and each other agreement entered into for the purpose of securing any Series of Additional First Lien Obligations.

  • First Lien Bank Loan means a Bank Loan that is entitled to the benefit of a first lien and first priority perfected security interest on a substantial portion of the assets of the respective borrower and guarantors obligated in respect thereof.

  • First Lien Indebtedness means the Indebtedness under the First Lien Indebtedness Documents.

  • Bar Date Order means the Order (I) Setting Bar Dates for Filing Proofs of Claim, Including Requests for Payment under Section 503(B)(9), (II) Establishing Amended Schedules Bar Date and Rejection Damages Bar Date, (III) Approving the Form of and Manner for Filing Proofs of Claim, Including Section 503(B)(9) Requests, and (IV) Approving Notice of Bar Dates [Docket No. 482], as such order may be amended, supplemented, or modified from time to time.