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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 61 of 70 <br />procedures as were in effect prior to the Petition Date, and to take all actions reasonably <br />appropriate with respect thereto, on an uninterrupted basis and in accordance with the same <br />practices and procedures as were in effect prior to the Petition Date. <br />24. Citi as Collateral Agent. To the extent that (i) Citi, in its capacity as Collateral <br />Agent under the Existing Credit Documents, or (ii) U.S. Bank, National Association, or any <br />successor trustee, in its capacity as Collateral Agent under the Existing Second Lien Indenture <br />Documents, is listed as loss payee under the Debtors' insurance policies as required under the <br />Existing Credit Documents and Existing Second Lien Indenture Documents or is the secured <br />party under any other Existing Credit Document or Existing Second Lien Indenture <br />Documents, Citi, in its role as Collateral Agent under the DIP Credit Agreements, is also <br />deemed to be the secured party under such Control Agreements, loss payee under the Debtors' <br />insurance policies and the secured party under any other Existing Credit Document or Existing <br />Second Lien Indenture Documents and shall act in that capacity and shall turn over and <br />distribute any proceeds recovered or received first, for the benefit of the DIP Lenders in <br />accordance with the DIP Credit Agreements and second, subsequent to indefeasible payment in <br />full of all DIP Obligations, for the benefit of the Pre -Petition Secured Parties under the <br />Existing Secured Agreements. <br />25. Payments Held in Trust. Except as expressly permitted in this Interim Order or <br />the DIP Documents, in the event that any person or entity receives any payment on account of <br />a security interest in Collateral, receives any proceeds of Collateral or receives any other <br />payment with respect thereto from any other source prior to indefeasible satisfaction of all DIP <br />Obligations under the DIP Documents, and termination of the Commitments in accordance <br />with the DIP Documents, such person or entity shall be deemed to have received, and shall <br />61 <br />
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