SEC Filings

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

 

16.              DIP Superpriority Claims. In addition to the liens and security interests granted to the DIP Agent on behalf of the DIP Lenders pursuant to this Interim Order, subject to the Carve-Out and in accordance with sections 364(c)(1), 503 and 507 of the Bankruptcy Code, the DIP Obligations shall constitute allowed superpriority administrative expense claims (the “DIP Superpriority Claims”) with priority over any and all administrative expenses of the Debtors, whether heretofore or hereafter incurred, of the kind specified in, or ordered pursuant to, sections 105, 326, 328, 330, 331, 364, 365, 503(b), 506(c) (subject to entry of the Final Order), 507(a), 507(b), 726, 1113, 1114 or any other provisions of the Bankruptcy Code.

 

17.              Contingent Liens and Adequate Protection of Prepetition Revolving Lenders. Until the occurrence of the Revolver Discharge, the Prepetition Revolving Lenders are entitled to (a) the Contingent Revolving Liens and (b) pursuant to Bankruptcy Code sections 361, 362, 363(e), 364(d)(1) and 507, adequate protection of their interests in the Prepetition Revolving Collateral, including the Cash Collateral, in an amount equal to the aggregate diminution in the value of the Prepetition Revolving Lenders’ interests in the Prepetition Revolving Collateral (including Cash Collateral) from and after the Petition Date, if any, for any reason provided for under the Bankruptcy Code, including, without limitation, any such diminution resulting from the depreciation, sale, lease or use by the DIP Loan Parties (or other decline in value) of the Prepetition Revolving Collateral, the priming of the Prepetition Revolving Liens by the DIP Liens pursuant to the DIP Loan Documents and this Interim Order and the imposition of the automatic stay pursuant to Bankruptcy Code section 362 (the “Prepetition Revolving Adequate Protection Claim”). In consideration of the foregoing, the Prepetition Revolving Lenders are hereby granted the following, in each case, subject to the Carve-Out and the provisions of

 

32