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2016-04-25_GENERAL DOCUMENTS - C1982056 (4)
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2016-04-25_GENERAL DOCUMENTS - C1982056 (4)
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Last modified
8/24/2016 6:21:06 PM
Creation date
4/26/2016 10:11:04 AM
Metadata
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Template:
DRMS Permit Index
Permit No
C1982056
IBM Index Class Name
General Documents
Doc Date
4/25/2016
Doc Name
Interim Order Authorizing the Continuation of the ADM Agreement Pending Assumption
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 134 Filed 04/15/16 Entered 04/15/16 14:33:01 Main Document <br />Pg2of6 <br />continued authorization to perform under the ADM Agreement is necessary and appropriate to <br />prevent immediate and irreparable harm to the Debtors' business operations and will serve to <br />preserve and maximize the Debtors' estates for the benefit of all stakeholders and, thus, cause <br />exists to permit the Debtors immediately to continue performing under ADM Agreement, <br />including providing Credit Support, notwithstanding Bankruptcy Rules 4001 and 6003, to the <br />extent that they are applicable; (viii) ADM is acting on reliance on this interim order, is <br />extending credit in good faith, such that ADM is entitled to the protections of section 364(e) of <br />the Bankruptcy Code; (ix) there is good cause to waive the 14 -day stay imposed by Bankruptcy <br />Rule 6004(h) to the extent it is applicable; and (x) the legal and factual bases set forth in the <br />Motion, Tichenor Declaration, First Day Declaration and at the Hearing establish just cause for <br />the relief granted herein <br />ORDERED that, pursuant to sections 105(a), 363, 364 and 365 of the Bankruptcy Code, <br />the Motion is GRANTED on an interim basis in that: <br />The Debtors are authorized, but not directed, to perform under the ADM <br />Agreement, including by entering into, consummating and performing transactions under the <br />ADM Agreement. <br />2. The Debtors are authorized, but not directed, to provide Credit Support to <br />ADM under the ADM Agreement, including prepaying obligations, pledging collateral, posting <br />initial or variation margin or providing other forms of collateral to ADM; provided, however, <br />that the provision of Credit Support is consistent with the Debtors' DIP Financing Agreement <br />and the A/R Facility. <br />3. If any or all of the provisions of this Interim Order are stayed, modified in <br />a manner adverse to ADM under the ADM Agreement or vacated, or this Interim Order <br />2 <br />
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