Examples of Liquid Collateral in a sentence
The DIP Lenders were granted a first Lien on the Debtors' Liquid Collateral under the Final DIP Order, as well as a first Lien on any Additional DIP Collateral.
If (x) with respect to Illiquid Collateral, an Event of Default shall have occurred and be continuing, or (y) with respect to Liquid Collateral, a Specified Event of Default shall have occurred and be continuing, the Collateral Agent may exercise (or cause its sub-agents to exercise) any or all of the remedies available to it (or to such sub-agents) under the Pledge Documents with respect to Illiquid Collateral and Liquid Collateral, respectively.
The DIP Facility Claims shall continue to be secured, on and after the Effective Date, by the Liens granted to the DIP Lenders in and upon the Liquid Collateral and the Additional DIP Collateral, provided, however, that at the request of all of the Holders of Allowed DIP Facility Claims, any or all of the Liquid Collateral and the Additional DIP Collateral shall be abandoned and the automatic stay shall be modified to allow the Holders of such Claims to enforce their Liens in such Collateral.
The third "Whereas" Clause of the Original Trust Indenture is hereby amended by deleting from clause (ii) thereof "mortgage and pledge by the Owner Trustee to the Indenture Trustee, as part of the Trust Indenture Estate hereunder of the Owner Trustee's right, title and interest in and to the Liquid Collateral and after the Delivery Date the assignment,".
All of the Debtors' assets and rights constitute Collateral of the Term Lender Parties except for the Unencumbered Assets (the entitlement to which has been waived by the Term Lender Parties pursuant to the Sale-Related Settlements), the Liquid Collateral and the Additional DIP Collateral.