SEC Filings

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


enhancement of, or realization by the Prepetition Secured Parties upon, the Prepetition Collateral. In no event shall the DIP Lenders, Prepetition Revolving Lenders or Nalpropion be subject to the equitable doctrine of marshaling or any similar doctrine with respect to the DIP Collateral.


24.              Restrictions on Granting Post-Petition Liens; Collateral Rights; Limitations in Respect of Subsequent Court Orders and Subordination of Liens. Except for the Carve-Out or as otherwise expressly set forth in this Interim Order, it shall constitute a Termination Event if any of the Debtors incur or request authority to incur a claim or grant a lien (or a claim or lien is allowed) having a priority superior to or pari passu with those granted pursuant to this Interim Order to the Prepetition Agents or Prepetition Secured Parties at any time during which any portion of the DIP Obligations, Prepetition Obligations, and Adequate Protection Obligations remains outstanding. Without limiting any other provisions and protections of this Interim Order, unless the DIP Lenders have provided their prior written consent, there shall not be entered in these proceedings, or in any Successor Cases, any order which authorizes the obtaining of credit or the incurring of indebtedness that is secured by a security, mortgage, or collateral interest or other lien on all or any portion of the DIP Collateral and/or entitled to priority administrative status which is superior to or pari passu with those granted pursuant to this Interim Order for any purpose other than as set forth in the Approved Budget. Without limiting the provisions and protections of this paragraph, if at any time prior to the indefeasible repayment and satisfaction in full and in cash of all DIP Obligations and the Prepetition Obligations, any trustee, any examiner with enlarged powers or any responsible officer subsequently appointed, shall obtain credit or incur debt in violation of this Interim Order or the other DIP Loan Documents, then all of the cash proceeds derived from such credit or debt and all Cash Collateral shall immediately