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Debtor In Possession Loan Agreement
"Need a Debtor In Possession Loan Agreement for a Singapore manufacturing company seeking USD 50M in rescue financing, with multiple lenders involved and cross-border assets in Malaysia and Indonesia that need to be included as security."
1. Parties: Identification of lender(s) and borrower(s), including registration details
2. Background: Context of the DIP financing, including insolvency proceedings status
3. Definitions: Key terms used throughout the agreement
4. Facility Details: Loan amount, purpose, and drawdown conditions
5. Security and Priority: Super-priority status and security arrangements
6. Conditions Precedent: Requirements before loan effectiveness
7. Representations and Warranties: Borrower's statements of fact and assurances
8. Covenants: Ongoing obligations of the borrower
9. Events of Default: Circumstances that trigger default and remedies
10. Payment Terms: Interest rates, repayment schedule, and fees
11. Governing Law and Jurisdiction: Applicable law and dispute resolution provisions
1. Intercreditor Provisions: Required when multiple creditors are involved to establish priority and rights between different classes of creditors
2. Cross-Border Provisions: Provisions dealing with international aspects of the financing, including recognition of foreign proceedings
3. Carve-out Provisions: Specific exceptions to the super-priority status and provisions for protected creditors
4. Insurance: Requirements for insurance coverage of assets and business
5. Voting Rights: Provisions regarding creditor voting rights in restructuring proceedings
1. Form of Drawdown Notice: Standard format for requesting loan disbursements
2. Security Documents: Details of collateral and security arrangements
3. Fee Schedule: Breakdown of all applicable fees and charges
4. Court Orders: Copies of relevant insolvency proceedings orders
5. Budget: Approved operating budget during DIP period
6. Existing Indebtedness: Schedule of pre-existing debts and their status
7. Form of Compliance Certificate: Template for periodic compliance reporting
Authors
Additional Facility
Administrative Agent
Agreed Budget
Applicable Law
Availability Period
Borrower
Business Day
Carve-Out
Cash Collateral
Commitment
Conditions Precedent
Court
Court Order
Default
Default Rate
DIP Collateral
DIP Facility
DIP Lender
DIP Obligations
DIP Priority Claims
Drawdown Date
Drawdown Notice
Event of Default
Existing Creditors
Facility Amount
Financial Indebtedness
Final DIP Order
Financial Statements
Governmental Authority
Insolvency Proceeding
Interest Payment Date
Interest Period
Interest Rate
Interim DIP Order
Judicial Manager
Lien
Loan
Material Adverse Effect
Maturity Date
Permitted Liens
Permitted Variance
Prepayment Event
Priority of Payments
Prohibited Person
Relevant Jurisdiction
Repayment Date
Restructuring Plan
Security
Security Documents
SGD
Singapore Dollars
Super Priority
Termination Date
Transaction Documents
Variance Report
Availability and Drawdown
Interest and Fees
Repayment Terms
Security and Priority
Conditions Precedent
Representations and Warranties
Affirmative Covenants
Negative Covenants
Financial Covenants
Budget Compliance
Reporting Requirements
Events of Default
Remedies
Cash Management
Priority and Ranking
Collateral Requirements
Use of Proceeds
Agency Provisions
Assignment and Transfer
Confidentiality
Notices
Amendments and Waivers
Costs and Expenses
Indemnification
Set-off Rights
Governing Law
Dispute Resolution
Court Approval
Carve-Out Provisions
Exit Financing
Survival
Severability
Force Majeure
Entire Agreement
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