NANCY C. DREHER, United States Bankruptcy Court Judge.
This matter came on before the Court on August 1, 2001 on Debtor's Motion for Order Authorizing the Grant of Additional Security Interest. Appearances were as noted in the record. The Court having considered the papers filed with the Court and the argument of counsel, finds as follows:
1. This Court's Order of May 1, 2001 incorporated and approved the Commitment Letter between the Debtor and Naples Lending Group dated February 13, 2001 (the "Commitment Letter").
2. The Commitment Letter provides that if Debtor borrows more than $1.5 million under its terms, the Debtor will grant to Naples Lending Group, or its successor, a security interest in the Debtor's interest in the Microstrand Technology subordinate only to the prior security interest of Rabobank.
3. As authorized by the Court's May 1, 2001 Order, the Debtor intends to borrow in excess of $1.5 million from Cypress Lending Group, Ltd., the successor in interest to Naples Lending Group, LC.
NOW, THEREFORE, it is ordered:
A. The Debtor's Motion is granted.
B. As collateral to secure payment of its obligation to Cypress Lending Group, Ltd., the Debtor is authorized to grant to Cypress Lending Group, Ltd. a security interest in the Debtor's interest in the Microstrand Technology that is subordinate only to the prior security interest of Cooperatieve Centrale Raiffeisen-Boerenleenbank, B.A. ("Rabobank").
C. Cypress Lending Group, Ltd. shall be and hereby is authorized to take any action it deems necessary or appropriate to perfect the security interest granted to it hereunder, including but not limited to filing mortgages and financing statements, all of which shall be deemed to have been filed on the date of entry of this Order.