SEC Filings

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

 

Adequate Protection Obligations incurred prior to the actual receipt by the DIP Lenders and the Prepetition Secured Parties of written notice of the effective date of such reversal, modification, vacation or stay, or (ii) the validity or enforceability of any claim, lien, security interest or priority authorized or created hereby or pursuant to the DIP Loan Documents with respect to any DIP Obligations or Adequate Protection Obligations. Notwithstanding any such reversal, modification, vacatur or stay, any use of Cash Collateral or the incurrence of DIP Obligations or Adequate Protection Obligations by the DIP Loan Parties prior to the actual receipt by the Prepetition Secured Parties and Prepetition Agents of written notice of the effective date of such reversal, modification, vacatur, or stay, shall be governed in all respects by the provisions of this Interim Order, and DIP Lenders, DIP Agent, Prepetition Secured Parties, and Prepetition Agents shall be entitled to all of the rights, remedies, protections and benefits granted under section 364(e) of the Bankruptcy Code, this Interim Order, the Intercreditor Agreement, and the other DIP Loan Documents with respect to all uses of Cash Collateral and the incurrence of DIP Obligations and Adequate Protection Obligations.

 

28.              Termination Events. The following shall constitute a termination event under this Interim Order and the DIP Loan Documents unless waived in writing by the DIP Agent (each, a “Termination Event”): (a) The occurrence of any “Event of Default” as defined under the DIP Credit Agreement; (b) any other failure of the Debtors to comply with the terms and provisions of this Interim Order in any material respect; and (c) unless otherwise agreed by the Debtors and the DIP Lenders or to the extent necessary to accommodate the Court’s calendar, the Debtors’ failure to timely comply with the Milestones (as defined in the DIP Credit Agreement). Any Milestone that would otherwise fall on a Saturday, Sunday or Federal holiday will be treated in accordance with Bankruptcy Rule 9006.

 

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