Common use of Financing Orders Clause in Contracts

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.

Appears in 2 contracts

Sources: Senior Secured Debtor in Possession Credit Agreement (Sunedison, Inc.), Senior Secured Debtor in Possession Credit Agreement (Sunedison, Inc.)

Financing Orders. (ai) The Interim Financing Order or, at all times after its entry by the Bankruptcy Court, the Final applicable Financing Order is in full force and effect, and has not been vacated, reversed, terminated, stayed stayed, modified or amended in any manner without the written consent of the Required LendersAgent, acting reasonably. (bii) Upon the maturity occurrence of the Termination Date (whether by acceleration or otherwise) of any of the Obligations), the Lenders Agent shall, subject to the provisions of Article VIII VII and the applicable provisions of the applicable Financing Order, be entitled to immediate payment of such Obligations, the Obligations and to enforce the remedies provided for hereunder under this Agreement and the other Loan Documents in accordance with the terms hereof hereof, thereof and such the applicable Financing Order, as applicable, in each case without further application to or order by the Bankruptcy Court. (ciii) If either the Interim Financing Order or the Final applicable Financing Order is the subject of a pending appeal in any respect, none of such the applicable Financing Order, the making extension of the Loans credit or the performance by Borrower or any other Loan Party of any of its obligations under this Agreement or any of the other Loan Documents shall be the subject of a presently effective stay pending appeal. The BorrowerDebtors, the Administrative Agent, the Collateral Agent and the Secured Parties Lenders shall be entitled to rely in good faith upon the Final Financing OrdersOrder, notwithstanding any objection thereto or appeal therefrom by any interested party. The BorrowerDebtors, the Administrative Agent, the Lenders Collateral Agent and the L/C Issuers Lenders shall be permitted and required to perform their respective obligations in compliance with this Agreement the Loan Documents notwithstanding any such objection or appeal appeal, unless the relevant Final Financing Order has been stayed by a court of competent jurisdiction.

Appears in 1 contract

Sources: Credit Agreement (Sears Holdings Corp)