Common use of Post-Effective Date Fees and Expenses Clause in Contracts

Post-Effective Date Fees and Expenses. Except as otherwise specifically provided in the Plan, from and after the Effective Date, the Reorganized Debtor shall, in the ordinary course of business and without any further notice to or action, order or approval of the Bankruptcy Court, pay in Cash the legal, professional or other fees and expenses related to the implementation and consummation of the Plan incurred by the Reorganized Debtor following the Effective Date. Upon the Effective Date, any requirement that Professionals comply with sections 327 through 331 and 1103 of the Bankruptcy Code in seeking retention or compensation for services rendered after such date shall terminate, and each Reorganized Debtor may employ and pay any professional for services rendered or expenses incurred after the Effective Date in the ordinary course of business without any further notice to or action, order or approval of the Bankruptcy Court.

Appears in 3 contracts

Samples: Plan Sponsor Agreement, Alternative Plan Sponsor Agreement (Quality Care Properties, Inc.), Restructuring Support Agreement (Quality Care Properties, Inc.)

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Post-Effective Date Fees and Expenses. Except as otherwise specifically provided in the Plan, from and after the Effective Date, the Reorganized Debtor Debtors shall, in the ordinary course of business and without any further notice to or action, order order, or approval of the Bankruptcy Court, pay in Cash the reasonable legal, professional professional, or other fees and expenses related to the implementation and consummation Consummation of the Plan incurred by the Reorganized Debtor following the Effective DateDebtors. Upon the Effective Date, any requirement that Professionals comply with sections 327 through 331 and 1103 of the Bankruptcy Code in seeking retention or compensation for services rendered after such date shall terminate, and each the Reorganized Debtor Debtors may employ and pay any professional for services rendered or expenses incurred after the Effective Date Professional in the ordinary course of business without any further notice to or action, order order, or approval of the Bankruptcy Court.

Appears in 2 contracts

Samples: Restructuring and Lock Up Agreement (Constar International Inc), Restructuring and Lock Up Agreement

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Post-Effective Date Fees and Expenses. Except as otherwise specifically provided in the Plan, from and after the Effective Date, the Reorganized Debtor Debtors shall, in the ordinary course of business and without any further notice to or action, order order, or approval of the Bankruptcy Court, pay in Cash the reasonable legal, professional professional, or other fees and expenses related to the implementation and consummation Consummation of the 49 US1DOCS 7783787v8 Plan incurred by the Reorganized Debtor following the Effective DateDebtors. Upon the Effective Date, any requirement that Professionals comply with sections 327 through 331 and 1103 of the Bankruptcy Code in seeking retention or compensation for services rendered after such date shall terminate, and each the Reorganized Debtor Debtors may employ and pay any professional for services rendered or expenses incurred after the Effective Date Professional in the ordinary course of business without any further notice to or action, order order, or approval of the Bankruptcy Court.

Appears in 1 contract

Samples: Note Purchase Agreement

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