Financing Orders Sample Clauses
The Financing Orders clause establishes the terms and procedures under which a party may seek or obtain court approval for financing arrangements, typically in the context of insolvency or restructuring proceedings. It outlines the requirements for submitting financing requests, the conditions that must be met for approval, and the rights of existing creditors or stakeholders to object or participate in the process. This clause ensures that any new financing is transparently managed and legally sanctioned, thereby protecting the interests of all parties involved and facilitating the debtor's access to necessary funds during critical periods.
Financing Orders. (a) The Loan Parties are in compliance in all material respects with the terms and conditions of the Interim Order or the Final Order, as applicable.
(b) Each of the Interim Order (with respect to the period prior to the entry of the Final Order) or the Final Order (from after the date the Final Order is entered) is in full force and effect and has not been vacated, reversed or rescinded or, without the prior written consent of the Administrative Agent, in its sole discretion, amended or modified and no appeal of such order has been timely filed or, if timely filed, no stay pending such appeal is currently effective.
Financing Orders. The Interim Financing Order (if prior to the Final Financing Order Date) or the Final Financing Order (if after the Final Financing Order Date), as the case may be, is in form and substance satisfactory to the Agent and the Lenders, shall be in full force and effect and shall not have been reversed, stayed, modified or amended, except for such modifications, and amendments mutually agreed to by the Borrower, the Agent and the Lenders.
Financing Orders. (1) A public utility may petition the Commission for a financing order. The petition shall include all of the following:
a. A description of the storm recovery activities that the public utility has undertaken or proposes to undertake and the reasons for undertaking the activities, or if the public utility is subject to a settlement agreement as contemplated by subdivision (2) of this subsection, a description of the settlement agreement.
b. The storm recovery costs and estimate of the costs of any storm recovery activities that are being undertaken but are not completed.
c. The level of the storm recovery reserve that the public utility proposes to establish or replenish and has determined would be appropriate to recover through storm recovery bonds and is seeking to so recover and such level that the public utility is funding or will seek to fund through other means, together with a description of the factors and calculations used in determining the amounts and methods of recovery.
d. An indicator of whether the public utility proposes to finance all or a portion of the storm recovery costs using storm recovery bonds. If the public utility proposes to finance a portion of the costs, the public utility must identify the specific portion in the petition. By electing not to finance a portion of such storm recovery costs using storm recovery bonds, a public utility shall not be deemed to waive its right to recover such costs pursuant to a separate proceeding with the Commission.
e. An estimate of the financing costs related to the storm recovery bonds.
f. An estimate of the storm recovery charges necessary to recover the storm recovery costs, including the storm recovery reserve amount determined appropriate by the Commission, and financing costs and the period for recovery of such costs.
g. A comparison between the net present value of the costs to customers that are estimated to result from the issuance of storm recovery bonds and the costs that would result from the application of the traditional method of financing and recovering storm recovery costs from customers. The comparison should demonstrate that the issuance of storm recovery bonds and the imposition of storm recovery charges are expected to provide quantifiable benefits to customers.
h. Direct testimony and exhibits supporting the petition.
(2) If a public utility is subject to a settlement agreement that governs the type and amount of principal costs that could be included in storm recovery co...
Financing Orders. (a) The Interim Financing Order or, at all times after its entry by the Bankruptcy Court, the Final Financing Order is in full force and effect, and has not been vacated, reversed, terminated, stayed modified or amended in any manner without the written consent of the Required Lenders.
(b) Upon the maturity (whether by acceleration or otherwise) of any of the Obligations, the Lenders shall, subject to the provisions of Article VIII and the applicable provisions of the applicable Financing Order, be entitled to immediate payment of such Obligations, and to enforce the remedies provided for hereunder in accordance with the terms hereof and such Financing Order, as applicable, without further application to or order by the Bankruptcy Court.
(c) If either the Interim Financing Order or the Final Financing Order is the subject of a pending appeal in any respect, none of such Financing Order, the making of the Loans or the performance by Borrower or any other Loan Party of any of its obligations under any of the Loan Documents shall be the subject of a presently effective stay pending appeal. The Borrower, the Administrative Agent and the Secured Parties shall be entitled to rely in good faith upon the Financing Orders, notwithstanding objection thereto or appeal therefrom by any interested party. The Borrower, the Administrative Agent, the Lenders and the L/C Issuers shall be permitted and required to perform their respective obligations in compliance with this Agreement notwithstanding any such objection or appeal unless the relevant Financing Order has been stayed by a court of competent jurisdiction.
Financing Orders. The Loan Parties shall comply with the Interim Financing Order and the Final Financing Order, as then in effect, in all respects.
Financing Orders. The Financing Orders shall be in full force and effect and shall not have been stayed, reversed, modified or amended in any respect without the prior written consent of the Requisite Lenders, provided, that at the time of the making of any Term Loans, the aggregate amount of which, when added to the aggregate principal amount of all Term Loans then outstanding would exceed the amount authorized by the Interim Financing Order (collectively, the “Additional Credit”), the Requisite Lenders shall have received satisfactory evidence of the entry of the Final Financing Order, which, in any event, shall have been entered by the Bankruptcy Court no later than thirty-five (35) days after the Filing Date and must become a Final Order by the forty-sixth (46th) day after the Filing Date, and at the time of the extension of any Additional Credit the Final Financing Order shall be in full force and effect; and if either the Interim Financing Order or the Final Financing Order is the subject of a pending appeal in any respect, neither the making of the Term Loans nor the performance by the Borrower of any of its obligations under this Agreement or any of the Loan Documents shall be the subject of a then effective stay pending appeal. Without limiting the foregoing, such Final Financing Order shall (i) authorize such Additional Credit, (ii) authorize and approve the Facility and the transactions contemplated thereby, including, without limitation, the granting of the super-priority status, security interests and liens, and the payment of all fees referred to herein, (iii) lift the automatic stay to permit the Borrower and the Guarantors that are debtors under the Facility to perform their respective obligations under the Loan Documents and the Agents to exercise their rights and remedies with respect to the Facility and the Loans, provided that such Final Financing Order shall provide that the Administrative Agent shall first provide the Borrower and Guarantors with three (3) Business Days’ prior written notice before exercising such rights and remedies, and (iv) authorize payment in full of the remaining outstanding amount of the Second Lien Obligations (as defined in the Plan of Reorganization) other than the Excluded Portion. The acceptance of any proceeds of Term Loans shall be deemed to be a representation and warranty by the Borrower as to compliance with this Section 7.1 on the Effective Date and on the date such Term Loan is made.
Financing Orders. Notwithstanding anything herein to the contrary, the provisions of this Copyright Security Agreement are subject to the provisions of the Financing Orders, in all respects. If any provision in this Copyright Security Agreement conflicts with any provision in the Financing Orders, the provisions in the applicable Financing Order shall control.
Financing Orders. Notwithstanding anything herein to the contrary, the provisions of this Patent Security Agreement are subject to the provisions of the Financing Orders, in all respects. If any provision in this Patent Security Agreement conflicts with any provision in the Financing Orders, the provisions in the applicable Financing Order shall control.
Financing Orders. On the date of the making of the initial Advances or the issuance of the initial Letters of Credit hereunder, whichever first occurs, the Interim Financing Order will have been entered and will not have been stayed, amended in a material manner, vacated, reversed or rescinded except as approved by the Agent and the Required Lenders, in each case in their sole discretion. On the date of the making of any Advance or the issuance of any Letter of Credit, the Interim Financing Order (or the Final Financing Order, when applicable) shall have been entered and shall not have been amended in a material manner, stayed, vacated or rescinded except as approved by the Agent and the Required Lenders, in each case in their sole discretion. Upon the maturity (whether by the acceleration or otherwise) of any of the obligations of the Loan Parties hereunder and under the other Loan Documents, the Lenders shall, subject to the provisions of Section 9.1 and the Financing Orders, be entitled to immediate payment of such obligations, and to enforce the remedies provided for hereunder, without further application to or order by the Bankruptcy Court.
Financing Orders. The applicable Financing Order has been duly entered, is valid, subsisting and continuing and has not been vacated, modified, or reversed on appeal by any court and is not subject to any pending stay, in the case of a modification in a manner which materially and adversely affects the rights of the Lenders or the DIP Agent and which modification is not acceptable to the Required Lenders.