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Case 1:20-bk-12043 Doc 307 Filed 08/28/20 Entered 08/28/20 16:03:37 Desc Main <br />Document Page 4 of 10 <br />Caterpillar's larger claim against Rhino Energy ("Claim One") is secured by valid, properly - <br />perfected, unavoidable, purchase -money liens on the Caterpillar Collateral.3 <br />7. Caterpillar's smaller claim arises out of a Promissory Note and Security Agreement <br />dated December 30, 2019, which evidences Rhino Energy's obligation to repay funds that <br />Caterpillar loaned to Rhino Energy. To secure payment under that Note, Rhino Energy granted <br />Caterpillar security interests in the Caterpillar Collateral and executed the Cross -Collateral / Cross - <br />Default Agreement between Caterpillar and Rhino Energy of even date. That security interest was <br />perfected by the financing statement that Caterpillar filed on October 29, 2019, described above. <br />Therefore, Caterpillar's smaller claim ("Claim Two, and together with Claim One, the "Secured <br />Claims") is secured by valid, properly -perfected, unavoidable liens on the Caterpillar Collateral.4 <br />Debtors' Proposed Asset Sale <br />8. The Bid Procedures Order authorizes Rhino Energy and other Debtors to enter into <br />the Stalking Horse Agreement, which contemplates that the Stalking Horse Bidder will purchase <br />substantially all of the Debtors' assets. <br />9. Based on a review of the Stalking Horse Agreement and conversations between <br />Caterpillar's counsel and the Debtors' counsel, Caterpillar understands that the Stalking Horse <br />Bidder does not intend to purchase any of the Caterpillar Collateral, all of which is deemed an <br />"Excluded Asset" under the Agreement. However, between now and the upcoming hearing at <br />which the Court will consider approving Debtors' proposed asset sales to Successful Bidders, the <br />' Debtor Rhino Resource Partners LP ("Rhino Partners") guaranteed payment of the Note underlying Claim One, and <br />Caterpillar has a claim against Rhino Partners accordingly. <br />a Rhino Partners guaranteed payment of the Note underlying Claim Two, and Caterpillar has a claim against Rhino <br />Partners accordingly. <br />L; <br />