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Intercreditor Agreement DIP Financing Clause 1

Book Publication Date: May 2014
Description: Intercreditor agreements may limit the amount of financing a first lien lender may provide to a debtor in possession. Such clauses, including the sample clause included here, protect the interests of the second lien lenders to a certain extent.
Type: Contract Clauses
PLI Item #: 133536
Practice Area: Banking and finance, Bankruptcy and restructuring, Bankruptcy process, Corporate finance, Financing, Intercreditor agreements

Keywords: "intercreditor agreement"; "lien subordination"; "first lien obligations"; "second lien obligations"; "first lien claimholders"; "second lien claimholders"; "revolving credit"; "debt cap"; "refinancing"; "amendment"; "restatement"; "maximum first priority lien amount"; "DIP financing"; "debtor in possession"

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