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2016-04-25_GENERAL DOCUMENTS - C200987
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2016-04-25_GENERAL DOCUMENTS - C200987
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Entry Properties
Last modified
8/24/2016 6:21:09 PM
Creation date
4/26/2016 1:22:49 PM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
C2009087
IBM Index Class Name
General Documents
Doc Date
4/25/2016
Doc Name
Interim Order Authorizing Debtors to Obtain Post-Petition Financing Pursuant to 11
From
United State Bankruptcy
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 108 Filed 04/14116 Entered 04/14/16 17:28:56 Main Document <br />Pg 31 of 70 <br />any further financing statements, trademark filings, copyright filings, mortgages, notices of lien <br />or similar instruments, or otherwise take any action to perfect their security interests in the <br />Collateral unless, solely as to this clause (iii), the DIP Agent or DIP Lenders file financing <br />statements or other documents to perfect the liens granted pursuant to this Interim Order, or as <br />may be required by applicable state law to continue the perfection of valid and unavoidable liens <br />or security interests as of the Petition Date and (iv) deliver or cause to be delivered, at the <br />Debtors' cost and expense, any termination statements, releases and/or assignments in favor of <br />the DIP Agent, the DIP Lenders or other documents necessary to effectuate and/or evidence the <br />release, termination and/or assignment of liens on any portion of the Collateral subject to any <br />sale or disposition. <br />(b) The automatic stay provisions of section 362 of the Bankruptcy Code are <br />vacated and modified to the extent necessary to permit the DIP Agent and the DIP Lenders to <br />enforce all of their rights under the DIP Documents (including any cash dominion as provided <br />for in the DIP Documents) and to exercise all rights and remedies under the DIP Documents; <br />provided, that any such rights and remedies that are exercisable only upon an Event of Default <br />(other than the giving of any notice, including the Fees Carve Out Trigger Notice) shall require <br />the giving of five Business Days' prior written notice via email to the Debtors and their lead <br />counsel, with copies to the U.S. Trustee and counsel to the Creditors' Committee (which period <br />shall run concurrently with any notice period provided under the DIP Documents) (the "Default <br />Notice Period"). Upon receipt, the Debtors shall promptly distribute such notice to the U.S. <br />Trustee and counsel to (i) the Pre -Petition Agent, (ii) the Second Lien Notes Trustee, (iii) <br />counsel to the Specified Lenders (iv) the Administrator for the A/R Securitization Facility and <br />(v) counsel to the Creditors' Committee. In any hearing regarding any exercise of rights or <br />31 <br />
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