Compensation and Costs of Administration Sample Clauses

Compensation and Costs of Administration. The Liquidation Trustee shall receive fair and reasonable compensation for his or her services in accordance with Schedule A, which shall be charged against and paid out of the Liquidation Trust Assets (subject to the limitations set forth in this Agreement and the Plan), provided, that no compensation may be paid to the Liquidation Trustee or his or her professionals unless and until the following procedures have been followed with respect to any individual request for compensation: (i) the Liquidation Trustee shall submit to the Liquidation Trust Supervisory Board a statement or statements (“Statements”) reflecting all fees (itemized, as applicable, to indicate the individual performing services, such individual’s billable rate, a description of the services performed, the time spent, and the fees incurred) and itemized costs to be reimbursed, (ii) the amount reflected in any such Statements may be paid by the Liquidation Trust after seven (7) days after the delivery of the Statements as specified in clause (i) above, unless prior to the expiration of such seven-day period, the Liquidation Trust Supervisory Board shall have objected in writing to any compensation reflected in the Statement, in which case the undisputed amounts may be paid and the disputed amounts may only be paid by agreement of the Liquidation Trust Supervisory Board, or pursuant to order of the Bankruptcy Court, which shall retain jurisdiction over all disputes regarding the Liquidation Trustee’s and his or her professionals’ compensation. All costs, expenses, and obligations, including filing fees, incurred by the Liquidation Trustee (or professionals who may be employed by the Liquidation Trustee in administering the Liquidation Trust, in carrying out their other responsibilities under this Agreement, or in any manner connected, incidental, or related thereto) shall be paid from the applicable Liquidation Trust Assets prior to any distribution to the Liquidation Trust Beneficiaries (subject to the limitations set forth in this Agreement and the Plan). If the cash in the Liquidation Trust shall be insufficient to compensate and reimburse the Liquidation Trustee or the members of the Liquidation Trust Supervisory Board, as the case may be, for any amounts to which they are entitled hereunder, then the Liquidation Trustee is hereby authorized to reduce to cash that portion of the Liquidation Trust Assets that are causes of action necessary so as to effect such compensation and reimburse...
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Compensation and Costs of Administration. Subject to the Plan, the Trustee may retain and compensate professionals (including himself) as provided for in Section 3.9 of this Agreement. The reasonable fees and actual and necessary expenses of such professionals and the Trustee shall be paid by the Trustee upon each monthly submission of a fee statement to the Trustee and the Liquidating Trust Committee, as applicable, in accordance with the following procedures. The Trustee shall deliver his or her invoices or fee statements to the Liquidating Trust Committee before payment from the Assets shall be allowed. Any professionals retained by the Trustee pursuant to this Agreement shall deliver their invoices or fee statements to the Trustee and the Liquidating Trust Committee before payment from the Trust Assets shall be allowed. The Trustee and Liquidating Trust Committee, as applicable, shall have fifteen (15) calendar days from the delivery of any invoice or fee statement to give notice of an objection to the fee statement to the professional seeking compensation or reimbursement (including the Trustee himself). For an objection to be valid, it shall be in writing and set forth in detail the specific fees objected to and the basis for the objection. The uncontested portion of each invoice shall be paid within twenty-five (25) calendar days after its original delivery to the Trustee. Any objection that remains unresolved fifteen (15) calendar days after it is made shall be submitted to the Bankruptcy Court for resolution.
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Compensation and Costs of Administration. The Trustee shall receive fair and reasonable compensation for its services as determined by agreement between the Trustee and the Trust on an hourly basis at the Trustee employee’s standard hourly billing rates, as periodically adjusted. Except for such periodic adjustments to the Trustee employee’s standard hourly billing rates, the Trustee’s compensation shall not be changed unless the Trustee determines in its professional judgment that the proposed change in compensation is in the interests of all of the Beneficiaries. All compensation costs, expenses, and obligations, including filing fees, incurred by the Trustee (or professionals who may be employed by the Trustee in administering the Trust, in carrying out their responsibilities under this Agreement, or in any manner connected, incidental, or related thereto) shall be paid pursuant to Section 3.10 hereof, and may be paid prior to any distribution to the Beneficiaries without further Bankruptcy Court approval or order (subject to the limitations set forth in this Agreement and the Plan).
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Compensation and Costs of Administration. As compensation for its services pursuant to this Agreement, the Distribution Trustee will be entitled to $75,000 per month (pro rated for any partial month based on the number of days services were provided during such month) plus reasonable out-of-pocket expenses until the resignation or removal of the Distribution Trustee or the termination of this Agreement, which fee and expenses will be charged against and paid out of the Distribution Trust Expenses Account on the first business day of the month immediately following the month with respect to which such fee was earned and such expenses were submitted for payment. The Distribution Trustee's compensation for services under this Agreement as set forth in this Section 9.8 shall be subject to review by the Steering Committee after 180 days from the Effective Date. In addition, all reasonable costs, expenses and obligations incurred by the Distribution Trustee in administering the Distribution Trust, in carrying out its other responsibilities under this Agreement or in any manner connected, incidental or related thereto (including the cost of professionals that may, in accordance with this Agreement, be employed by the Distribution Trustee) will be paid, at the direction of the Distribution Trustee, from the Distribution Trust Expenses Account.
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Compensation and Costs of Administration. The Trustee shall receive fair and reasonable compensation for his services in accordance with the compensation schedule annexed hereto as Schedule A, which shall be a charge against and paid out of the Trust Assets. All costs, expenses, and obligations incurred by the Trustee (or professionals who may be employed by the Trustee in administering the Trust, in carrying out their responsibilities under this Agreement, or in any manner connected, incidental, or related thereto) shall be paid by the Trustee from the Trust Assets prior to any distribution to the Beneficiaries.
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Compensation and Costs of Administration. The Liquidation Trustee may retain and compensate professionals (including himself) as provided for in this Agreement. The reasonable fees and actual and necessary expenses of such professionals and the Liquidation Trustee shall be paid out of the Liquidation Trust. After the Effective Date, the payment of the fees and expenses of the Liquidation Trustee and his agents, financial advisors, attorneys, consultants, independent contractors, representatives and other Liquidation Trust professionals shall be made in the ordinary course of business and shall not be subject to the approval of the Bankruptcy Court; provided, however, monthly invoices shall be served upon the Liquidation Trustee and counsel to the Liquidation Trustee, and such fees and expenses shall be payable absent written objection within 30 days of service in accordance with the afore-referenced. If any portion of the monthly invoice is subject to objection, the undisputed portion shall be paid and the parties shall confer in good faith to resolve any remaining objections. Any Successor Liquidation Trustee shall receive such reasonable compensation and reimbursement of expenses in the same manner as the initial Liquidation Trustee.
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Compensation and Costs of Administration. The Liquidating Trustee shall be entitled to reasonable compensation and reimbursement of expenses in accordance with the terms of its engagement agreement, as summarized on Exhibit A hereto. The Liquidating Trustee may retain and compensate professionals as provided for in Article III.B of this Agreement. The reasonable fees and actual and necessary expenses of such professionals and the Liquidating Trustee shall be paid by the Liquidating Trustee from the Wind-down Account and in accordance with the Wind- down Budget upon each monthly submission of a fee statement to the Liquidating Trustee in accordance with the following procedures. Any professionals retained by the Liquidating Trustee pursuant to this Agreement shall deliver their invoices or fee statements to the Liquidating Trustee and, upon written request to the Liquidating Trustee, any Beneficiaries shall also be entitled to receive copies of such invoices. The Liquidating Trustee, and any Beneficiaries that have requested invoices or fee statements, shall have 10 days from the delivery of any invoice or fee statement to object to the invoice or fee statement in writing to the professional seeking compensation or reimbursement, which writing shall set forth in detail the basis for the objection and the specific fees at issue. The uncontested portion of each invoice or fee statement shall be paid within 15 days after its original delivery to the Liquidating Trustee and any Beneficiaries that have requested invoices or fee statements. Any objection that remains unresolved 15 days after it is made shall be submitted to the Bankruptcy Court for resolution.
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Related to Compensation and Costs of Administration

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  • Compensation and Indemnity The Company, Holdings and the Guarantors shall, jointly and severally, pay to the Trustee from time to time such compensation for its acceptance of this Indenture and services hereunder as the parties shall agree from time to time. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company, Holdings and the Guarantors shall reimburse the Trustee promptly upon request for all reasonable disbursements, advances and expenses incurred or made by it in addition to the compensation for its services. Such expenses shall include the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel. The Company, Holdings and the Guarantors, jointly and severally, shall indemnify the Trustee against any and all losses, claims, damages, liabilities or expenses (including reasonable attorneys’ fees and expenses) incurred by it arising out of, or in connection with, the acceptance or administration of its duties under this Indenture, including the costs and expenses of enforcing this Indenture against the Company, Holdings and the Guarantors (including this Section 7.07) and defending itself against any claim (whether asserted by the Company, Holdings and the Guarantors or any Holder or any other person) or liability in connection with the exercise or performance of any of its powers or duties hereunder, except to the extent any such loss, liability or expense shall be determined to have been caused by its own negligence or willful misconduct. The Trustee shall notify the Company, Holdings and the Guarantors promptly of any claim of which a Responsible Offer has received notice for which it may seek indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations hereunder. The Company shall defend the claim, and the Trustee shall cooperate in the defense. The Trustee may have separate counsel, and the Company shall pay the reasonable fees and expenses of such counsel. The Company, Holdings and the Guarantors need not pay for any settlement made without their consent, which consent shall not be unreasonably withheld. The obligations of the Company, Holdings and the Guarantors under this Section 7.07 shall survive the resignation or removal of the Trustee, the satisfaction and discharge and the termination of this Indenture. To secure the Company’s, Holdings’ and the Guarantors’ payment obligations in this Section, the Trustee shall have a Lien prior to the Notes on all money or property held or collected by the Trustee, except that held in trust to pay principal and interest on particular Notes. Such Lien shall survive the resignation or removal of the Trustee, the satisfaction and discharge and the termination of this Indenture. In addition, and without prejudice to the rights provided to the Trustee under any of the provisions of this Indenture, when the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(f) or (g) hereof occurs, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any Bankruptcy Law. “Trustee” for purposes of this Section shall include any predecessor Trustee and the Trustee in each of its capacities hereunder and each agent, custodian and other person employed to act hereunder; provided, however, that the negligence, willful misconduct or bad faith of any Trustee hereunder shall not affect the rights of any other Trustee hereunder. The Trustee shall comply with the provisions of TIA § 313(b)(2) to the extent applicable.

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