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date of delivery of the check and not the date it clears for purpose of the (c)(4) exception because it fulfills the statutory purpose. In re Contempri Homes, Inc., 269 B.R. 124 (Bankr. M.D. Pa. 2001).
10. New Value Must be from Transfers.
The text of the defense requires that the transfer of new value must be from such creditor to whom the alleged preferential transfer must be made. In re Telsave Corp., 116 F. App'x 91 (9th Cir. 2004). The creditor transferee, not a third party, must be the one to extend new value to the debtor. Id.
1. Overview.
A trustee cannot avoid a lien "that creates a perfected security interest in inventory or a receivable or the proceeds of either, except to the extent that the aggregate of all such transfers to the transferee caused a reduction, as of the date of the filing of the petition and to the prejudice of other creditors holding unsecured claims, of any amount by which the debt secured by such security interest exceeded the value of all security interests for such debt on the later of
a. (i) with respect to a transfer to which subsection (b)(4)(A) of this section applies, 90 days before the date of the filing of the petition; or
(ii) with respect to a transfer to which subsection (b)(4)(B) of this section applies, one year before the date of the filing of the petition; or
b. the date on which new value was first' given under the security agreement creating such security interest.
2. Policy TC. A "floating lien" is a lien or security interest in a mass of collateral, the individual components of which
