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2016-04-25_GENERAL DOCUMENTS - C1992081 (19)
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2016-04-25_GENERAL DOCUMENTS - C1992081 (19)
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Entry Properties
Last modified
8/24/2016 6:21:07 PM
Creation date
4/26/2016 2:26:19 PM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
C1992081
IBM Index Class Name
General Documents
Doc Date
4/25/2016
Doc Name
Amended 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
JHB
Media Type
D
Archive
No
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Case 16-42529 Doc 149 Filed 04/15/16 Entered 04/15/16 16:16:59 Main Document <br />Pg 62 of 71 <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 />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 />62 <br />
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