Examples of Replacement Liens in a sentence
The validity, enforceability, perfection and priority of the Replacement Liens shall not be subject to the equities of the case exception to § 552(b) of the Bankruptcy Code and shall not depend upon filing, recordation, or any other act required under applicable state or federal law, rule or regulation.
Notwithstanding the expiration or termination of this Order, the terms and provisions of this Order with respect to the Replacement Liens, Security Interest, administrative claim and other adequate protection granted to Secured Creditor herein shall continue for the duration of this Chapter 11 Case, for the duration of this case under any other Chapter of the Bankruptcy Code to which it may be converted, and shall survive the dismissal of any such case.
To the extent the Replacement Liens granted to Secured Creditor pursuant to this Order are insufficient to compensate Secured Creditor for any diminution in value of the Collateral, Secured Creditor shall be entitled to a super-priority administrative claim pursuant to 11 U.S.C. § 503(b) of the Bankruptcy Code, and Secured Creditor shall be entitled to the protections of and the priority set forth in 11 U.S.C. § 507(b).
The Replacement Liens shall maintain the same priority, validity and enforceability as Secured Creditor’s liens on the initial Collateral and shall be recognized only to the extent of any diminution in the value of the Collateral resulting from the use of Cash Collateral pursuant to this Order.
Notwithstanding anything to the contrary contained herein, the Wells Fargo Replacement Liens shall not attach to the Specified Vessel Collateral or the Avoidance Action Proceeds.