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2016-04-20_GENERAL DOCUMENTS - C1994082
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2016-04-20_GENERAL DOCUMENTS - C1994082
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Last modified
8/24/2016 6:20:57 PM
Creation date
4/20/2016 11:26:54 AM
Metadata
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Template:
DRMS Permit Index
Permit No
C1994082
IBM Index Class Name
General Documents
Doc Date
4/20/2016
Doc Name
Interim Order
From
United States Bankruptcy Court
To
DRMS
Permit Index Doc Type
General Correspondence
Email Name
MPB
JRS
JHB
Media Type
D
Archive
No
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Case 16-42529 Doc 136 Filed 04/15/16 Entered 04/15/16 14:39:40 Main Document <br />Pg2of8 <br />justify authorizing the Debtors to continue the Surety Bond Program, including paying the <br />prepetition amounts owed in connection therewith; (vii) the Debtors' authority to continue the <br />Surety Bond Program and the payment of prepetition amounts owed in connection therewith are <br />necessary and appropriate to prevent immediate and irreparable harm to their business operations <br />and will serve to preserve and maximize the Debtors' estates for the benefit of stakeholders and, <br />thus, cause exists to permit the Debtors immediately to continue the Surety Bond Program and <br />pay prepetition amounts owed in connection therewith, notwithstanding Bankruptcy Rules 4001 <br />and 6003, to the extent that they are applicable; (viii) there is good cause to waive the 14 -day <br />stay imposed by Bankruptcy Rule 6004(h), to the extent that it is applicable; and (ix) the legal <br />and factual bases set forth in the Motion, First Day Declaration and at the Hearing establish just <br />cause for the relief granted herein <br />ORDERED that, pursuant to sections 105(a), 363 and 364 of the Bankruptcy Code, the <br />Motion is GRANTED on an interim basis in that: <br />1. The Debtors are authorized, but not directed, to maintain, continue and <br />renew the Surety Bond Program without interruption, including, but not limited to, paying all <br />prepetition and postpetition amounts due in connection with to the Surety Bond Program <br />(including the Bond Premiums), renewing or securing new Surety Bonds, posting collateral, <br />honoring Indemnity Agreements and continuing to utilize their Self -Bonding Privileges; <br />provided that in the first 21 days following the Petition Date (the "Interim Period"), the Debtors <br />shall pay amounts due pursuant to the Surety Bond Program only to the extent such amounts are <br />currently due and owing and as necessary to prevent immediate and irreparable harm to the <br />Debtors' estates; provided that, notwithstanding any of the foregoing, the Debtors shall (i) obtain <br />the consent of the administrative agent for the Debtors' postpetition secured debtor in possession <br />-2- <br />
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