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2016-04-14_GENERAL DOCUMENTS - C1982056 (5)
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2016-04-14_GENERAL DOCUMENTS - C1982056 (5)
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Last modified
8/24/2016 6:20:45 PM
Creation date
4/18/2016 12:14:11 PM
Metadata
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Template:
DRMS Permit Index
Permit No
C1982056
IBM Index Class Name
General Documents
Doc Date
4/14/2016
Doc Name
Motion of the Debtors And Debtors in Possession
From
United State Bankruptcy Court
To
Drms
Permit Index Doc Type
General Correspondence
Email Name
MPB
JRS
JLE
Media Type
D
Archive
No
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Case 16-42529 Doc 23 Filed 04/13/16 Entered 04/13/16 11:20:44 Main Document <br />Pg 16 of 32 <br />Request for Authority for Banks to Honor and Pay <br />Checks and Funds Transfers Related to Amounts Paid Under the Surety Bond Program <br />31. In addition, by this Motion, the Debtors request that all applicable banks <br />and other financial institutions (collectively, the "Banks") be authorized, when requested by the <br />Debtors, to receive, process, honor and pay any and all checks presented for payment of and to <br />honor all fund transfer requests made by the Debtors related to the Surety Bond Program, <br />whether such checks were presented or fund transfer requests were submitted prior to or after the <br />Petition Date, provided that sufficient funds are available and standing in the Debtors' credit in <br />the applicable accounts to cover such checks and fund transfers. The Debtors represent that <br />these checks are drawn on identifiable disbursement accounts and can be readily identified as <br />relating directly to the authorized payments of amounts due pursuant to the Surety Bond Program. <br />Accordingly, the Debtors believe that checks other than those relating to authorized payments <br />will not be honored inadvertently. Any such financial institution may rely on the representations <br />of such Debtors as to which checks are issued or wire transfers are made and authorized to be <br />paid in accordance with this Motion without any duty of further inquiry and without liability for <br />relying on such representations. <br />Requests for Immediate Relief and Waiver of Stay <br />32. Pursuant to Rules 4001(c), 6003(b) and 6004(h) of the Federal Rules of <br />Bankruptcy Procedure (the "Bankruptcy"), the Debtors seek the entry of orders granting <br />the relief requested by this Motion on an interim and final basis and, to the extent it applies, a <br />waiver of any stay of the effectiveness of such order. <br />33. Bankruptcy Rule 4001(c) provides that, when presented with a motion for <br />authority to obtain credit, the "court may conduct a hearing before [ 14 days after service of the <br />motion], but the court may authorize the obtaining of credit only to the extent necessary to avoid <br />-16- <br />
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