Common use of Professional Fee Escrow Clause in Contracts

Professional Fee Escrow. As soon as reasonably practicable after the Confirmation Date and no later than the Effective Date, the Debtors shall establish and fund the Professional Fee Escrow. Funds held in the Professional Fee Escrow shall not be considered property of the Debtors’ Estates or property of the Reorganized Debtors, but the funds held in the Professional Fee Escrow after all Professional Fee Claims Allowed by the Bankruptcy Court have been irrevocably paid in full pursuant to one or more Final Orders of the Bankruptcy Court shall be deemed to constitute Available Cash and shall be distributed pursuant to Article IV.L hereof as if such amounts had constituted Available Cash on the Effective Date. The Professional Fee Escrow shall be held in trust for the Professionals and for no other parties until all Professional Fee Claims Allowed by the Bankruptcy Court have been paid in full pursuant to one or more Final Orders of the Bankruptcy Court. No Liens, claims, or interests shall encumber the Professional Fee Escrow or Cash held in the Professional Fee Escrow in any way. Professional Fees owing to the Professionals shall be paid in Cash to such Professionals from funds held in the Professional Fee Escrow when such Claims are Allowed by an order of the Bankruptcy Court; provided that the Debtors’ obligations to pay Professional Fee Claims shall not be limited nor be deemed limited to funds held in the Professional Fee Escrow.

Professional Fee Escrow. As soon as reasonably practicable after the Confirmation Date and no later than the Effective Date, the Debtors shall establish and fund the Professional Fee Escrow. Funds held in Escrow with Cash based on their evaluation of the Professional Fee Claims Estimates, and no Liens, Claims, or interests shall encumber the Professional Fee Escrow shall not be considered property in any way (whether on account of the Debtors’ Estates New Reorganized Corporate Debt, or property of the Reorganized Debtors, but the otherwise). The Professional Fee Escrow (including funds held in the Professional Fee Escrow after all Professional Fee Claims Allowed by the Bankruptcy Court have been irrevocably paid in full pursuant to one or more Final Orders Escrow) (i) shall not be and shall not be deemed property of the Bankruptcy Court shall be deemed to constitute Available Cash Debtors or the Reorganized Debtors and shall be distributed pursuant to Article IV.L hereof as if such amounts had constituted Available Cash on the Effective Date. The Professional Fee Escrow (ii) shall be held in trust for the Professionals and for no other parties Person or Entity until all Professional Fee Claims Allowed by the Bankruptcy Court have been irrevocably paid in full pursuant to one or more Final Orders of the Bankruptcy Court. No Liensfull; provided, claims, or interests shall encumber the Professional Fee Escrow or Cash held that funds remaining in the Professional Fee Escrow after all Allowed Professional Fee Claims have been irrevocably paid in any way. Professional Fees owing full shall revert to the Professionals Reorganized Debtors. Allowed Professional Fee Claims shall be paid in Cash to such Professionals from funds held in the Professional Fee Escrow when such Claims are Allowed by an order of the Bankruptcy Court; provided that the Debtors’ obligations with respect to pay Professional Fee Claims shall not be limited nor deemed to be deemed limited in any way to the balance of funds held in the Professional Fee Escrow. If the amount of funds in the Professional Fee Escrow is insufficient to fund payment in full of all Allowed Professional Fee Claims and any other Allowed amounts owed to Professionals, the deficiency shall be promptly funded to the Professional Fee Escrow by the Reorganized Debtors without any further notice to, action, order, or approval of the Bankruptcy Court or by any other Entity.

Professional Fee Escrow. (a) As soon as reasonably practicable after the Confirmation Date and no later than the Effective Date, the Debtors shall establish and fund the Professional Fee Escrow. Funds held in Escrow with Cash equal to the Professional Fee Escrow shall not be considered property of the Debtors’ Estates or property of the Reorganized DebtorsClaims Estimate, but the funds held in the Professional Fee Escrow after all Professional Fee Claims Allowed by the Bankruptcy Court have been irrevocably paid in full pursuant to one or more Final Orders of the Bankruptcy Court shall be deemed to constitute Available Cash and shall be distributed pursuant to Article IV.L hereof as if such amounts had constituted Available Cash on the Effective Date. The Professional Fee Escrow shall be held in trust for the Professionals and for no other parties until all Professional Fee Claims Allowed by the Bankruptcy Court have been paid in full pursuant to one or more Final Orders of the Bankruptcy Court. No Liens, claimsClaims, or interests shall encumber the Professional Fee Escrow or Cash in any way. The Professional Fee Escrow (including funds held in the Professional Fee Escrow) (i) shall not be and shall not be deemed property of the Debtors, the Debtors’ Estates, or the Reorganized Debtors and (ii) shall be held in trust for the Professionals; provided that funds remaining in the Professional Fee Escrow after all Allowed Professional Fee Claims have been irrevocably paid in any way. Professional Fees owing full shall revert to the Professionals Reorganized Debtors. Allowed Professional Fee Claims shall be paid in Cash to such Professionals from funds held in the Professional Fee Escrow when such Claims are Allowed by an order of the Bankruptcy Court; provided that the Debtors’ obligations with respect to pay Professional Fee Claims shall not be limited nor deemed to be deemed limited in any way to the balance of funds held in the Professional Fee Escrow, but subject to any order of the Bankruptcy Court capping the amount of any such fees.

Professional Fee Escrow. As soon as reasonably practicable after the Confirmation Date and no later than the Effective Date, the Debtors shall establish and fund the Professional Fee Escrow. Funds held in Escrow with Cash based on their evaluation of the Professional Fee Claims Estimates, and no Liens, Claims, or Interests shall encumber the Professional Fee Escrow shall not be considered property in any way (whether on account of the Debtors’ Estates New Reorganized Corporate Debt, or property of the Reorganized Debtors, but the otherwise). The Professional Fee Escrow (including funds held in the Professional Fee Escrow after all Professional Fee Claims Allowed by the Bankruptcy Court have been irrevocably paid in full pursuant to one or more Final Orders Escrow) (i) shall not be and shall not be deemed property of the Bankruptcy Court shall be deemed to constitute Available Cash Debtors or the Reorganized Debtors and shall be distributed pursuant to Article IV.L hereof as if such amounts had constituted Available Cash on the Effective Date. The Professional Fee Escrow (ii) shall be held in trust for the Professionals and for no other parties Person or Entity until all Professional Fee Claims Allowed by the Bankruptcy Court have been irrevocably paid in full pursuant to one or more Final Orders of the Bankruptcy Court. No Liensfull; provided, claims, or interests shall encumber the Professional Fee Escrow or Cash held that funds remaining in the Professional Fee Escrow after all Allowed Professional Fee Claims have been irrevocably paid in any way. Professional Fees owing full shall revert to the Professionals Reorganized Debtors. Allowed Professional Fee Claims shall be paid in Cash to such Professionals from funds held in the Professional Fee Escrow when such Claims are Allowed by an order of the Bankruptcy Court; provided that the Debtors’ obligations with respect to pay Professional Fee Claims shall not be limited nor deemed to be deemed limited in any way to the balance of funds held in the Professional Fee Escrow. If the amount of funds in the Professional Fee Escrow is insufficient to fund payment in full of all Allowed Professional Fee Claims and any other Allowed amounts owed to Professionals, the deficiency shall be promptly funded to the Professional Fee Escrow by the Reorganized Debtors without any further notice to, action, order, or approval of the Bankruptcy Court or by any other Entity.

Professional Fee Escrow. As soon as reasonably practicable after the Confirmation Date and no later than On the Effective Date, the Debtors shall establish and fund the Professional Fee Escrow. Funds held in the Professional Fee Escrow shall not be considered property of the Debtors’ Estates or property of the Reorganized Debtors, but the funds held in and transfer an amount equal to the Professional Fee Escrow after all Professional Fee Claims Allowed by Amount, which funds shall come first from the Bankruptcy Court have been irrevocably paid in full pursuant Administrative Expense Account and then, solely to one or more Final Orders the extent the Administrative Expense Account does not otherwise contain sufficient funds, from the Debtors’ general funds available as of the Bankruptcy Court shall be deemed to constitute Available Cash and shall be distributed pursuant to Article IV.L hereof as if such amounts had constituted Available Cash on the Effective Date. The Professional Fee Escrow shall be held maintained in trust for the Professionals and for no other parties Entities until all Accrued Professional Fee Compensation Claims Allowed by the Bankruptcy Court have been irrevocably paid in full to the Professionals pursuant to one or more Final Orders of the Bankruptcy Court. No Liens, claimsClaims, or interests shall encumber the Professional Fee Escrow or Cash held in on account of the Professional Fee Escrow in any way. Such funds shall not be considered property of the Estates, the Debtors, or the Reorganized Debtors; provided, however, that the Reorganized Debtors shall have a reversionary interest in the excess, if any, of the amount of the Professional Fees owing to Fee Escrow over the aggregate amount of Accrued Professional Compensation Claims of the Professionals shall to be paid from the Professional Fee Escrow. When such Accrued Professional Compensation Claims have been paid in Cash to such Professionals from funds held full, any remaining amount in the Professional Fee Escrow when such Claims are Allowed by an order shall promptly be paid to the Reorganized Debtors without any further action or Order of the Bankruptcy Court; provided that the Debtors’ obligations to pay Professional Fee Claims shall not be limited nor be deemed limited to funds held in the Professional Fee Escrow.