Scribd Logo
Upload

Welcome to Scribd!

  • Eric Notes 51 Proof The Junior DIP Was Not Vacated by The 363 Sale PDF

    Uploaded by

    Eric Moore
    73 views1 page
    Eric Moore Legal Notes Sears Bankruptcy, Eric Notes 51 Junior DIP Not vacated by the sale to ESL

    Original Title

    Eric Notes 51 Proof the Junior DIP Was Not Vacated by the 363 Sale PDF

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Eric Moore Legal Notes Sears Bankruptcy, Eric Notes 51 Junior DIP Not vacated by the sale to ESL

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    73 views1 page

    Eric Notes 51 Proof The Junior DIP Was Not Vacated by The 363 Sale PDF

    Uploaded by

    Eric Moore
    Eric Moore Legal Notes Sears Bankruptcy, Eric Notes 51 Junior DIP Not vacated by the sale to ESL

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 1

    Eric Notes 51 Proof the Junior DIP was not vacated by the 363 Sale

    SHLDQ Doc 1436 Page 22-23


    Each of the Junior DIP Agent, DIP ABL Agents, their respective lenders and the
    Debtors are bound by the DIP Intercreditor Agreement; provided, that the DIP
    ABL Agents and the Junior DIP Agent and each of their respective lenders are
    contractually obligated to comply with the DIP Intercreditor Agreement, and the
    Junior DIP Agent and Junior DIP Lenders may enforce such agreement against the
    DIP ABL Agents and their respective lenders in these Chapter 11 Cases without
    the need for any further order of the Bankruptcy Court; provided, further that
    the Debtors and their estates shall be deemed to be express third party
    beneficiaries of, and shall be entitled to enforce the provisions of section
    4.1(b)(iii) and section 4.1(b)(iv) of the DIP Intercreditor Agreement and the
    immediately succeeding sentence of this paragraph 12 (collectively, the “Reverse
    Marshaling Provisions”), which Reverse Marshaling Provisions shall remain
    enforceable by the Debtors and their estates until the repayment in full in cash of
    the DIP ABL Obligations and the Junior DIP Obligations.
    The DIP ABL Agents shall not apply proceeds of any Prepetition
    Unencumbered Collateral (as defined herein) received in connection with any
    Exercise of Secured Creditor Remedies (as defined in the DIP Intercreditor
    Agreement) or from any sale, transfer or other disposition of such assets
    pursuant to section 3631 or section 11292 of the Bankruptcy Code (or any similar
    provision under the law applicable to the Chapter 11 Cases or any other Insolvency
    Proceeding (as defined in the DIP Intercreditor Agreement)

    1
    Section 363 Relates to the sale of Assets in a Bankruptcy Case
    2
    Section 1129 of the code is the dismissal of a Bankruptcy Case.

    You might also like