SEC Filings

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


44.              Equities of the Case. Subject to and effective upon entry of a Final Order, the Prepetition Secured Parties shall each be entitled to all of the rights and benefits of section 552(b) of the Bankruptcy Code, and the “equities of the case” exception under section 552(b) of the Bankruptcy Code shall not apply to the Prepetition Secured Parties with respect to the proceeds, product, offspring, or profits of any of the Prepetition Collateral.


45.              Reporting Requirements. Notwithstanding any procedures or requirements under the Prepetition Financing Documents or the DIP Loan Documents, the Debtors shall (a) prepare and furnish to counsel for the DIP Lenders, in form and substance reasonably acceptable to the DIP Lenders, a weekly report of receipts, disbursements, and a reconciliation of actual receipts and disbursements with those set forth in the Approved Budget, on a line-by-line basis, showing any percentage variance to the proposed corresponding line item of the Approved Budget (i) for the immediately preceding weekly period, (ii) on a cumulative basis for the period of the Approved Budget or such other budget period, as applicable, and showing a calculation of the covenants and Debtors’ compliance or noncompliance, and (iii) provide an explanation for all variances, on a line-item and cumulative basis, between the budgeted amounts and the actual amounts (the “Budget Reconciliation”). The Budget Reconciliation shall (i) be certified as true and correct by an officer of the Borrower and (ii) certify that no Termination Event, including any Event of Default, has occurred or, if such Termination Event has occurred, specifying the nature and extent thereof and any corrective action taken or proposed to be taken with respect thereto. The Debtors shall also provide to DIP Agent’s counsel (i) a list of any and all prepetition claims paid during such period, each with a notation regarding which order authorized such payments, and (ii) the cumulative total of all prepetition claims paid, each with a notation regarding which order authorized such payments (the “Other Reporting Obligations”). Such