Cash Collateral - Agreement for Immediate Use

(a)  Interim Order. Where the debtor and one or more parties with an interest in the cash collateral have agreed to the immediate use of cash collateral, the court, upon motion, may enter an interim order approving the agreement.

(b)  Service And Form Of Notice. The debtor shall serve notice of the interim order and bar date for objections on parties to the agreement, the United States trustee, and entities entitled to notice under Rule 4001(d). The notice shall contain: (1) a detailed description of the terms of the agreement and the interim order, or in lieu of a detailed description, a copy of the agreement and interim order; (2) the date by which objections must be filed and served, which shall be 14 days from the date the notice is served, unless otherwise ordered by the court; and (3) the names and addresses of those persons upon whom objections must be served.  The notice shall state that, if no objection is timely filed and served, the court may direct that the interim order shall continue in effect until a specified date or that the interim order shall become the operative order on the use of cash collateral until modified by the court.

(c)  Certificate Of Service. The debtor shall file a certificate of service evidencing compliance with this Local Rule and Rule 4001(d).

(d)  Procedure If No Objection. If no objection is timely filed and served, the court may direct that the interim order shall continue as noted in subsection (b).

(e)  Procedure Upon Objection. If a timely objection is filed and served, the debtor shall obtain a hearing date and notice all parties entitled to notice under this Local Rule.

Committee Notes 2009: Time deadlines have been amended to be consistent with amendments to the Federal Rules of Bankruptcy Procedure, effective December 1, 2009.