Relief from Stay definition

Relief from Stay. Until the Discharge of the Senior Lien Obligations, neither the Junior Lien Agent nor any Junior Lien Lender will seek relief from the automatic stay or any other stay in any insolvency proceeding in respect of any portion of the Collateral without the Senior Lien Agent’s prior written consent. • Asset Sales: The Junior Lien Agent and each Junior Lien Lender will consent to any sale consented to by the Senior Lien Agent of any Collateral pursuant to Section 363 of the Bankruptcy Code (or any similar provision under law applicable to any insolvency proceeds) as long as their liens attach to the proceeds of such sale and are applied in accordance with the terms of the Junior Lien Intercreditor Agreement. •
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Relief from Stay. Until the Discharge of the Senior Lien Obligations, neither the Junior Lien Agent nor any Junior Lien Lender will seek relief from the automatic stay or any other stay in any insolvency proceeding in respect of any portion of the Collateral without the Senior Lien Agent’s prior written consent.
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Relief from Stay. The Interim Order and Final Order would provide, that, upon the occurrence and during the continuation of an event of default under the Facility, the automatic stay shall be deemed lifted without any further action by the bankruptcy court, (i) permitting the termination of the Debtors' authority to use cash collateral, the acceleration of the DIP Obligations, the termination of any commitments under the Facility and the exercise of other post-default remedies under the credit agreement and other loan documents for the facility (other than those described in clause (ii) below) and (ii) upon five (5) business days' notice to Borrowers, counsel to any creditors' committee, the United States Trustee, counsel to the Pre-Petition Senior Agent, and counsel to the Bridge Loan Steering Committee, permitting the DIP Agent and the DIP Lenders to exercise any and all enforcement remedies with respect to the DIP Collateral, including, without limitation, the disposition of the DIP Collateral. The only issue that may be contested in such regard is whether or not an event of default shall have occurred.
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Examples of Relief from Stay in a sentence

  • As soon as practicable after the FDIC-Receiver’s receipt of the Cash required to be paid pursuant to Article IV.C.1 of this Plan, the FDIC-Receiver will withdraw the FDIC-Receiver Reservations of Rights and the FDIC-Receiver Motion for Relief from Stay with prejudice.

  • On June 11, 2001, the Debtors' landlord, Aliso Viejo Town Center Corporate Park, LLC ("AVTC") filed a Motion for Relief from Stay against FRTI.

  • Section 6.1 DIP Financing 20 Section 6.2 Relief from Stay 21 Section 6.3 No Contest; Adequate Protection 21 Section 6.4 Asset Sales 21 Section 6.5 Separate Grants of Security and Separate Classification 22 Section 6.6 Enforceability 22 Section 6.7 ABL Obligations Unconditional 22 Page No.

  • Section 6.1 DIP Financing 20 Section 6.2 Relief from Stay 20 Section 6.3 No Contest; Adequate Protection 21 Section 6.4 Asset Sales 21 Section 6.5 Separate Grants of Security and Separate Classification 21 Section 6.6 Enforceability 22 Section 6.7 ABL Obligations Unconditional 22 Page No.

  • Notwithstanding any contrary provision of the Plan, the Order Granting National City Bank’s Motion for Relief from Stay (the “ Stay Relief Order,” docket no.

  • Section 6.2 Relief from Stay 48 Section 6.3 No Contest 49 Section 6.4 Asset Sales 49 Section 6.5 Separate Grants of Security and Separate Classification 49 Section 6.6 Enforceability 50 Section 6.7 Senior Priority Obligations Unconditional 50 Section 6.8 Junior Priority Obligations Unconditional 51 Section 6.9 Adequate Protection 51 Section 6.10 Reorganization Securities and Other Plan-Related Issues.

  • Entry ------------------------------------------------------------------------------------------------ 04/12/01 6192 MOTION for Relief from Stay (Filed by John X.

  • That the settlement terms as indicated in the Order Resolving Motion for Relief from Stay ("Bankruptcy Order"), and the Liquidator's participation therein, which is attached to the Liquidator's instant motion as Exhibit B are hereby approved pursuant to Section 193 of the Illinois Insurance Code, 215 ILCS5/193.

  • Entry ------------------------------------------------------------------------------------------------ 04/12/01 6192 MOTION for Relief from Stay (Filed by Xxxx X.

  • On January 29, 2003, Chesapeake, as Collateral Agent on its behalf and for the benefit of the Secured Lenders, filed a Motion for Relief from Stay (the "Stay Motion"), requesting that the Court grant relief from the automatic stay to allow the Collateral Agent and the Secured Lenders to pursue their rights and remedies with respect to their collateral held by the Debtor's Estate.


More Definitions of Relief from Stay

Relief from Stay. The Debtors shall consent to relief from the automatic stay in the event of a chapter 11 or chapter 7 filing.
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Related to Relief from Stay

  • Relief Event has the meaning set forth in Section 3.12.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • Insolvency Regulation means the Council Regulation (EC) No.1346/2000 29 May 2000 on Insolvency Proceedings.

  • Relief Act The Soldiers' and Sailors' Civil Relief Act of 1940, as amended.

  • Relief Act Shortfall With respect to any Distribution Date and any Mortgage Loan, any reduction in the amount of interest or principal collectible on such Mortgage Loan for the most recently ended calendar month as a result of the application of the Relief Act.

  • Separation from Service means a “separation from service” (within the meaning of Section 409A).

  • Fraud Loss Coverage Termination Date The point in time at which the Fraud Loss Coverage Amount is reduced to zero.

  • Relief Act Interest Shortfall With respect to any Distribution Date and any Mortgage Loan, any reduction in the amount of interest collectible on such Mortgage Loan for the most recently ended calendar month as a result of the application of the Relief Act.

  • Relief Act Shortfalls With respect to any Distribution Date and any Mortgage Loan as to which there has been a reduction in the amount of interest collectible thereon for the most recently ended calendar month as a result of the application of the Civil Relief Act, the amount, if any, by which (i) interest collectible on such Mortgage Loan for the most recently ended calendar month is less than (ii) interest accrued thereon for such month pursuant to the Mortgage Note.

  • Bankruptcy Loss With respect to any Mortgage Loan, a Deficient Valuation or Debt Service Reduction; provided, however, that a Bankruptcy Loss shall not be deemed a Bankruptcy Loss hereunder so long as the Master Servicer has notified the Trustee in writing that the Master Servicer is diligently pursuing any remedies that may exist in connection with the related Mortgage Loan and either (A) the related Mortgage Loan is not in default with regard to payments due thereunder or (B) delinquent payments of principal and interest under the related Mortgage Loan and any related escrow payments in respect of such Mortgage Loan are being advanced on a current basis by the Master Servicer, in either case without giving effect to any Debt Service Reduction or Deficient Valuation.

  • Continuing care retirement community means a residential

  • Civil Relief Act The Soldiers' and Sailors' Civil Relief Act of 1940, as amended.

  • Initial Bankruptcy Loss Coverage Amount $226,715.

  • Section 409A of the Code means the nonqualified deferred compensation rules under Section 409A of the Code and any applicable treasury regulations and other official guidance thereunder.

  • Change in Control Protection Period means the period commencing on the date a Change in Control occurs and ending on the first anniversary of such date.

  • Bankruptcy Coverage Termination Date The point in time at which the Bankruptcy Loss Coverage Amount is reduced to zero.