SEC Filings

8-K
PERNIX THERAPEUTICS HOLDINGS, INC. filed this Form 8-K on 02/27/2019
Entire Document
 

 

(ii)              the actual aggregate amount of disbursements to be more than 120% of the aggregate budgeted amount of disbursements for such Budget Test Period set forth in the Approved Budget (excluding the fees and expenses of the DIP Lenders that are required to be reimbursed under the other provisions of this Agreement) (“Disbursements Permitted Variance” and together with the Net Receipt Permitted Variance, the “Permitted Variances”); provided that the Required Lenders (as defined in the DIP Credit Agreement) may authorize the Borrower in writing to exceed the Disbursements Permitted Variance for any Budget Test Period.

 

(b)               The Borrower shall deliver a Budget Reconciliation (as defined below) to the DIP Lenders in accordance with the terms of paragraph 45. In addition, the Borrower shall notify the DIP Lenders in writing as soon as reasonably practicable if the Borrower anticipates that it will violate the Net Receipt Permitted Variance or the Disbursements Permitted Variance for any Budget Test Period.

 

(c)               In the event that the Borrower projected a disbursement in the budget which is instead taken as a deduction to receipts, or vice versa, the Borrower will be permitted to apply the actual results to the category it was originally projected for budget testing purposes.

 

10.              Continuation of Prepetition Liens. Until (a) the Debtors have indefeasibly paid in full and in cash all DIP Obligations, all Prepetition Obligations and all Prepetition Treximet Notes Obligations, (b) the DIP Lenders’ obligations under the DIP Facility have terminated, (c) all objections and challenges to (i) the liens and security interests of the Prepetition Secured Parties (including, without limitation, liens granted for adequate protection purposes) and the Prepetition Treximet Noteholders, and (ii) the Prepetition Obligations and Prepetition Treximet Notes Obligations, have been waived, denied or barred, and (d) all of the Debtors’ stipulations contained in this Interim Order have become binding upon their estates and parties in interest in

 

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