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Intercreditor Agreement Post-Petition Interest Clause

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.
Form Type: Contract Clauses
Practice Area: Corporate & Securities

Date: May 2014
PLI Item #: 135747
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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