Expense Reimbursement; Administrative Expenses; Fee Caps. (i) The Company shall have paid all amounts payable as the Expense Reimbursement accrued through the Effective Date pursuant to Section 4.3; (ii) the total amount of administrative expenses under sections 503 and 507 of the Bankruptcy Code paid by the Debtors on the Effective Date (or prior thereto) shall not exceed the sum of (A) fees and expenses incurred by legal and financial advisors plus (B) such expenses set forth on Schedule 4 hereto plus (iii) (C) an additional amount not to exceed two hundred and fifty thousand dollars $250,000 in the aggregate, solely as necessary to make additional payments under the KERP consistent with the Order of the Bankruptcy Court approving the KERP on June 5, 2014; provided that the total amount of such administrative expenses that may be paid under this Section 8.1(s)(ii) may be increased with the consent of the Investors. (iii) The Debtors shall have performed and complied with their covenants and agreements in Section 7.25 (Fee Caps) in all respects
Appears in 2 contracts
Samples: Backstop Conversion Commitment Agreement (Global Geophysical Services Inc), Backstop Conversion Commitment Agreement
Expense Reimbursement; Administrative Expenses; Fee Caps. (i) The Company shall have paid all amounts payable as the Expense Reimbursement accrued through the Effective Date pursuant to Section Section 4.3;
(ii) the total amount of administrative expenses under sections 503 and 507 of the Bankruptcy Code paid by the Debtors on the Effective Date (or prior thereto) shall not exceed the sum of (A) fees and expenses incurred by legal and financial advisors plus (B) such expenses set forth on Schedule 4 hereto plus (iii) (C) an additional amount not to exceed two hundred and fifty thousand dollars $250,000 in the aggregate, solely as necessary to make additional payments under the KERP consistent with the Order of the Bankruptcy Court approving the KERP on June 5, 2014; provided that the total amount of such administrative expenses that may be paid under this Section 8.1(s)(iiSection 8.1(s)(ii) may be increased with the consent of the Investors.
(iii) The Debtors shall have performed and complied with their covenants and agreements in Section Section 7.25 (Fee Caps) in all respects
Appears in 1 contract
Samples: Backstop Conversion Commitment Agreement (Global Geophysical Services Inc)
Expense Reimbursement; Administrative Expenses; Fee Caps. (i) The Company shall have paid all amounts payable as the Expense Reimbursement accrued through the Effective Date pursuant to Section 4.3;
(ii) the total amount of administrative expenses under sections 503 and 507 of the Bankruptcy Code paid by the Debtors on the Effective Date (or prior thereto) shall not exceed the sum of (A) fees and expenses incurred by legal and financial advisors plus (B) such expenses set forth on Schedule 4 hereto plus (iii) (C) an additional amount not to exceed two hundred and fifty thousand dollars $250,000 in the aggregate, solely as necessary to make additional payments under the KERP consistent with the Order of the Bankruptcy Court approving the KERP on June 5, 2014; provided that the total amount of such administrative expenses that may be paid under this Section 8.1(s)(ii) may be increased with the consent of the InvestorsInvestor in consultation with the Committee.
(iii) The Debtors shall have performed and complied with their covenants and agreements in Section 7.25 (Fee Caps) in all respects
Appears in 1 contract
Samples: Backstop Conversion Commitment Agreement (Global Geophysical Services Inc)