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Intercreditor Agreement Post-Petition Interest Clause

Book Publication Date: May 2014
Description: Intercreditor agreements must explicitly provide for the right of first lien lenders to receive post-petition interest in a bankruptcy proceeding. A clause such as the sample provided here performs such a function.
Type: Contract Clauses
PLI Item #: 135747
Practice Area: Banking and finance, Corporate finance, Financing

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"; "adequate protection"; "post-petition interest"; "fees"

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