Laserfiche WebLink
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 />