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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 04/14/16 Entered 04/14/16 17:28:56 Main Document <br />Pg 36 of 70 <br />(a) Pre -Petition Secured Lender Adequate Protection Liens. The Pre -Petition <br />Agent (for itself and for the benefit of the Pre -Petition Lenders) is hereby granted (effective and <br />perfected upon the date of this Interim Order and without the necessity of the execution of any <br />mortgages, security agreements, pledge agreements, financing statements or other agreements), <br />in the amount of the Senior Lender Adequate Protection Claim, a security interest in and lien <br />upon all of the Collateral, subject and subordinate only to (i) DIP Liens and any liens on the <br />Collateral to which such liens so granted to the DIP Agent are junior, (ii) the Fees Carve Out, <br />and (iii) the Bonding Carve Out (the "Senior Lender Adequate Protection Liens"). For the <br />avoidance of doubt, other than with respect to the Senior Lender Adequate Protection Liens, no <br />liens are granted under this Interim Order for the benefit of the First Lien Secured Parties on any <br />cash held by Global Center or on the equity interests of Global Center. <br />(b) Continuation of Liens. To the extent replacement liens are not available, <br />the liens granted to the First Lien Secured Parties under the terms of the Pre -Petition Credit <br />Agreement shall continue in full force and effect and shall continue to secure the obligations of <br />the Debtors under the Pre -Petition Credit Agreement. <br />(c) Pre -Petition Secured Lender Section 507(b) Claim. The Pre -Petition <br />Agent, on behalf of itself and the Pre -Petition Lenders, is hereby granted, subject to the Fees <br />Carve Out and the Bonding Carve Out, a superpriority administrative expense claim as provided <br />for in section 507(b) of the Bankruptcy Code in the amount of the Senior Lender Adequate <br />Protection Claim, immediately junior to (i) the DIP Superpriority Claims held by the DIP Agent <br />and the DIP Lenders and (ii) solely with respect to the Securitization Debtors, the A/R <br />Securitization Facility Superpriority Claim, and senior to all other superpriority claims or <br />administrative expenses (other than the Fees Carve Out and the Bonding Carve Out) and shall <br />36 <br />
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