roll-up

roll-up
USA
roll-up, Also known as roll-over.
A provision in a DIP financing order which permits the debtor to apply the proceeds of the DIP financing to satisfy, in whole or in part, secured or unsecured prepetition indebtedness, with the effect of transforming funds lent prepetition into funds lent under the DIP and secured by the priming lien. Roll-ups are attractive to DIP lenders even though there is no net cash benefit (as they are repaid with their own funds) because they ensure immediate repayment of prepetition debt and effectively convert the DIP lender's prepetition secured claim or unsecured claim into a postpetition superpriority claim.
For more information, see Practice Note, Roll-Up DIP Financing (www.practicallaw.com/1-386-8691).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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