Common use of Administrative Claims Clause in Contracts

Administrative Claims. All amounts to be paid to Buyer pursuant to this Agreement shall constitute an allowed administrative expense claim with priority over any and all administrative expenses of the kind specified in Sections 503 and 507 of the Bankruptcy Code other than administrative priority claims of the Agent under the DIP Facility and the Carve-Out Expenses (as defined in the DIP Facility).

Administrative Claims. All amounts to be paid to Buyer pursuant to this Agreement shall constitute an allowed administrative expense claim with priority over any and all administrative expenses of the kind specified in Sections 503 and 507 of the Bankruptcy Code other than administrative priority claims Code, and shall be, at Buyer's option and as otherwise permitted by this Agreement, (i) immediately payable if and when any such obligation of Sellers arises under this Agreement or the Agent under the DIP Facility and the Carve-Out Expenses Bidding Procedures Order, or (as defined in the DIP Facility)ii) credited against any amounts owed by Buyer to Sellers pursuant to this Agreement.