Examples of Working Capital Collateral in a sentence
The Parties agree that, once the Rabobank Working Capital Collateral has been sold and removed from the Debtors’ operating locations, the Real Property Collateral is no longer necessary for the Debtors’ effective reorganization.
The Rabobank Secured Parties therefore assert that the Insurance Proceeds are part of the Rabobank Working Capital Collateral to the extent, at a minimum, of the improvement costs and deductible.
Upon the removal of all of the Rabobank Working Capital Collateral from the Real Property Collateral, or any individual premises comprising the Real Property Collateral, Compeer is entitled to, and cause exists to grant, an order modifying the automatic stay to allow Compeer to exercise its state law and contractual rights and remedies against the respective Real Property Collateral.
Rabobank asserts that the Debtors used certain Rabobank Working Capital Collateral to improve the Real Property Collateral and to pay the deductible for the Insurance Claims.
Pursuant to an intercreditor agreement among Rabobank, Compeer PCA, and Pipeline (the “ Intercreditor Agreement”), Rabobank’s asserted security interest in the Working Capital Collateral (as defined therein), comprising substantially all current-asset personal property of the Debtors, is senior to Compeer PCA’s security interest.