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GENERAL50076
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Last modified
8/24/2016 8:30:12 PM
Creation date
11/23/2007 5:38:56 PM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
M1977376
IBM Index Class Name
General Documents
Doc Name
MOTION OF DEBTORS FOR ORDER AUTHORIZING FINANCING GRANTING SENIOR LIENS & PRIORITY ADMINISTRATIVE E
Media Type
D
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<br />3. If the Borrower and the Debtors determine that. they <br />must seek interim financing on an emergency basis to avoicl <br />immediate, irreparable harm prior to the hearing on this Potion, <br />the Borrower and the Debtors will make a separate request to the <br />Court for interim financing pursuant to Bankruptcy Rule <br />4001(c)(2) and will ask the Court to hear such a request on an <br />extremely expedited basis oz ex Darte basis. <br />4. Each of the Debtors is a direct subsidiary of <br />Borrower and all of the Debtors operate an interrelated business <br />and the proposed financing of Borrower by Congress will benefit <br />each of the Debtors. <br />5. The Debtors have requested that Congress make loans <br />and advances and provide other credit accommodations to tlae <br />Borrower in order to provide funds to be used by the Borrower and <br />the other the Debtors for their general operating, working <br />capital, and other business purposes in the ordinary course of <br />their respective businesses. <br />6. The Borrower and Congress entered into the Proposal <br />Agreement in good faith for the postpetition financing of <br />Borrower by Congress prior to the commencement of these Chapter <br />11 cases. <br />7. Congress is willing to make such loans and advances <br />and provide such other credit accommodations on a secured basis <br />as more particularly described herein and subject to the terms <br />and conditions contained herein. <br />4 <br />
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