SEC Filings

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

 

29.              Modification of Stay; Rights and Remedies Upon Termination.

 

(a)               Upon the occurrence and during the continuance of any Termination Event, and five (5) business days’ after written notice thereof (the “Default Notice,” and such period of time, the “Default Notice Period”) is provided by the DIP Agent to Debtors’ counsel, Committee’s counsel (if any), and the U.S. Trustee, the automatic stay provisions of section 362 of the Bankruptcy Code shall be automatically vacated and modified to the extent necessary to permit the DIP Agent, the DIP Lenders, the Prepetition Agents and/or the Prepetition Secured Parties, as applicable, to exercise all rights and remedies provided in this Interim Order, the DIP Loan Documents, the Intercreditor Agreement, or Prepetition Financing Documents, as applicable, and to take any or all of the following actions without further order of or application to this Court: (i) immediately terminate the Debtors’ use of Cash Collateral and cease making any DIP Loans to the DIP Loan Parties; (ii) immediately declare all DIP Obligations to be immediately due and payable; (iii) immediately terminate the DIP Facility and the availability of any DIP Loans thereunder; (iv) immediately set off any and all amounts in accounts maintained by the DIP Loan Parties with (or subject to a security interest in favor of) the DIP Agent, DIP Lenders, Prepetition Agents, or Prepetition Secured Parties, as applicable, against the DIP Obligations or the Prepetition Obligations, or otherwise enforce rights against the DIP Collateral in the possession of, or subject to a lien in favor of the DIP Agent, DIP Lenders, Prepetition Agents, or the Prepetition Secured Parties, as applicable, in each case for application towards the DIP Obligations or the Prepetition Obligations, as applicable; (v) immediately exercise any of their rights with respect to the Specified Contracts (as defined in the DIP Credit Agreement) under paragraph 30 herein; (vi) direct any Debtor to file and prosecute pleadings before this Court seeking relief under Bankruptcy Code section 363 (including, without limitation,

 

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