SEC Filings

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


applicable Debtor shall be authorized to assign such Specified Contract pursuant to, and to enjoy the protections of, Bankruptcy Code section 365 subsequent to the date of such assumption.


(d)               DIP Agent’s Right to Cure Defaults. If any of the Debtors is required to cure any monetary defaults under any Specified Contract pursuant to any order of this Court or otherwise in connection with any assumption and assignment of any such Specified Contract pursuant to section 365 of the Bankruptcy Code, and such monetary default is not, within five (5) business days of the receipt by such Debtor of notice from the DIP Agent pursuant to the applicable provision(s) of the DIP Credit Agreement or any other notice from the DIP Agent requesting the cure of such monetary default, cured in accordance with the provisions of such applicable court order as arranged by the DIP Agent, the DIP Agent may cure any such monetary defaults on behalf of the applicable Debtor(s).


31.              Limitations on Borrowings. It shall constitute a Termination Event if any of the Debtors seeks authorization for the Debtors or their estates to borrow money from any person other than the DIP Lenders to the extent that the repayment of such borrowings is to be secured pursuant to section 364(d)(1) of the Bankruptcy Code by a security interest, lien or mortgage that is senior to or pari passu with any of the security interests, liens or mortgages held by the DIP Lenders or Prepetition Secured Parties, unless (A) such authorization is sought with the prior written consent of the DIP Lenders or (B) in connection with such borrowings, the DIP Obligations and any remaining Prepetition Obligations are indefeasibly paid in full in cash as a condition to the closing of such borrowings.


32.              Modifications of DIP Loan Documents and Budgets. The DIP Loan Parties are hereby authorized, without further order of this Court, to enter into agreements with the DIP Agent and the DIP Lenders providing for any modifications to the Approved Budget or non-