Laserfiche WebLink
Case 16-42529 Doc 108 Filed 04/14/16 Entered 04/14/16 17:28:56 Main Document <br />Pg 62 of 70 <br />hold, any such payment or proceeds of Collateral in trust for the benefit of the DIP Agent and <br />DIP Lenders and shall immediately turn over such proceeds to the DIP Agent, or as otherwise <br />instructed by this Court, for application in accordance with the DIP Documents and this <br />Interim Order. <br />26. Credit Bidding. <br />(a) The DIP Agent shall, acting at the direction of the Required Lenders, have <br />the right to credit bid up to the full amount of the DIP Obligations in any sale of the Collateral <br />(including, without limitation, sales occurring under Section 363 of the Bankruptcy Code or <br />included as part of any plan of reorganization subject to confirmation of such reorganization <br />plan) as provided for in section 363(k) of the Bankruptcy Code, without the need for further <br />Court order authorizing the same and whether such sale is effectuated through section 363(k) or <br />1 l 29(b) of the Bankruptcy Code, by a chapter 7 trustee under section 725 of the Bankruptcy <br />Code, or otherwise. <br />(b) Subject to entry of the Final Order and the prior indefeasible satisfaction <br />and discharge in full of all DIP Obligations and the termination of the Commitments thereunder, <br />the full amount of the Pre -Petition First Lien Debt then outstanding may be used to "credit bid" <br />for the assets and property of the Debtors (to the extent such assets are Senior Lender Collateral <br />or secured by Senior Lender Adequate Protection Liens (but with respect thereto, solely to the <br />extent of the value of the Senior Lender Adequate Protection Liens)) as provided for in section <br />363(k) of the Bankruptcy Code, without the need for further Court order authorizing the same <br />and whether such sale is effectuated through section 363(k) or 1129(b) of the Bankruptcy Code, <br />by a chapter 7 trustee under section 725 of the Bankruptcy Code, or otherwise. For the <br />avoidance of doubt, no amount on account of the Pre -Petition First Lien Debt may be credit bid <br />62 <br />