Agreed Administrative Expense Priorities means that administrative expenses with respect to the Borrowers entitled to priority pursuant to Sections 503 and 507 of the Bankruptcy Code and, with respect to sub-clause (ii) of clause "first", any official committee appointed by the Bankruptcy Court shall have the following order of priority: first, (i) amounts payable pursuant to 28 U.S.C. ss. 1930(a)(6) and (ii) allowed fees and expenses of attorneys, accountants and other professionals retained in the Chapter 11 Cases pursuant to Sections 327 and 1103 of the Bankruptcy Code, but the amount entitled to priority under sub-clause (ii) of this clause first ("Priority Professional Expenses") shall not exceed $4,000,000 outstanding and unpaid in the aggregate at any time (inclusive of any holdbacks required by the Bankruptcy Court) (the "Professional Expense Cap"); provided, however, that (A) after the Agent has provided written by-hand or facsimile notice to the Administrative Borrower of the occurrence of an Event of Default hereunder or a default by the Borrowers in any of their obligations under the Final Bankruptcy Court Order, any payments actually made to such professionals after the occurrence and during the continuance of such Event of Default or default, under Sections 330 and 331 of the Bankruptcy Code or otherwise, shall reduce the Professional Expense Cap on a dollar-for-dollar basis and (B) for the avoidance of doubt, any payment actually made to such professionals prior to the notice described in subclause (A) above may be retained by such professionals and not reduce the Professional Expense Cap, second, all Obligations, and third, all other allowed administrative expenses.
Agreed Administrative Expense Priorities means that administrative expenses with respect to the Loan Parties and, with respect to sub-clause (ii) of clause “first”, any official committee appointed by the Bankruptcy Court, shall have the following order of priority: first, (i) amounts payable pursuant to 28 U.S.C. § 1930(a)(6) and (ii) all amounts payable in respect of Carve-Out Expenses, provided that the amount entitled to priority under this sub-clause (ii) of this clause first (“Priority Professional Expenses”) shall not exceed the then effective Priority Professional Expenses Reserve; provided, (A) to the extent the Carve Out Expense Reduction Period commences prior to the Final Facility Effective Date, such Priority Professional Expenses will be equal to an amount not exceeding the amount of Priority Professional Expenses that were accrued but not paid prior to the commencement of such Carve-Out Expense Reduction Period and the amount of the then effective Priority Professional Expenses Reserve and (B) to the extent the Carve Out Expense Reduction Period commences on and after the Final Facility Effective Date, not more than $750,000 in Priority Professional Expenses may be incurred plus the amount of Priority Professional Expenses that were accrued but not paid prior to the commencement of the Carve-Out Expense Reduction Period in an amount not exceeding the then effective Priority Professional Expenses Reserve (together, the “Professional Expense Cap”); provided, however, that (1) during any Carve-Out Expense Reduction Period, any payments actually made in respect of Carve-Out Expenses shall reduce the Professional Expense Cap on a dollar-for-dollar basis, and Priority Professional Expenses accrued prior to the commencement of the Carve Out Expense Reduction Period but paid during the Carve Out Expense Reduction Period shall continue to reduce the Priority Professional Expenses Reserve, and (2) for the avoidance of doubt, so long as no Carve-Out Expense Reduction Period shall be continuing, the payment of Carve-Out Expenses shall not reduce the Professional Expense Cap (but will reduce the Priority Professional Expenses Reserve); provided, further, that to the extent the Professional Expense Cap is reduced by any such payments, and thereafter the applicable Event of Default or default by any Loan Party in any of its obligations under any of the Bankruptcy Court Orders, in either case, that caused the Carve-Out Expense Reduction Period to commence is cured (to the extent such cure is permi...
Agreed Administrative Expense Priorities means that administrative expenses with respect to the Loan Parties and, with respect to sub-clause (ii) of clause "first", any official committee appointed by the Bankruptcy Court, shall have the following order of priority: first, (i) amounts payable pursuant to 28 U.S.C. § 1930(a)(6) and (ii) amounts payable in respect of Carve-Out Expenses, provided that the amount entitled to priority under this sub-clause (ii) of this clause first ("Priority Professional Expenses") shall not exceed the sum of (A) the aggregate amount of professional fees, costs and disbursements accrued and not paid immediately prior to the commencement of a Carve-Out Expense Reduction Period, but solely if, as and to the extent such professional fees, costs and disbursements are or have been provided for in, and are consistent with, the Initial Budget and are ultimately allowed by the Bankruptcy Court pursuant to Section 330 of the Bankruptcy Code and (B) $1,000,000 (the "Professional Expense Cap"); provided, however, that (1) during any Carve-Out Expense Reduction Period, any payments actually made in respect of Carve-Out Expenses other than the Carve-Out Expenses described in subclause (A) of this clause (ii), shall reduce the Professional Expense Cap on a dollar-for-dollar basis, and (2) for the avoidance of doubt, so long as no Carve-Out Expense Reduction Period shall be continuing, the payment of Carve-Out Expenses shall not reduce the Professional Expense Cap; second, all Pre-Petition Revolving Loans and the Obligations, and third, all other allowed administrative expenses.
Examples of Agreed Administrative Expense Priorities in a sentence
Priority: The DIP Credit Agreement shall constitute allowed administrative expenses in the Bankruptcy Case, pursuant to section 364(b) and 503(b)(1) of the Bankruptcy Code, and subject only to the prior payment of Agreed Administrative Expense Priorities, as and to the extent set forth in the Final DIP Order or any subsequent order of the Bankruptcy Court.Remedies: Upon the occurrence of an Event of Default, the DIP Lender shall have customary remedies.
Specifically, “The DIP Credit Agreement shall constitute allowed administrative expenses in the Bankruptcy Case, pursuant to section 364(b) and 503(b)(1) of the Bankruptcy Code, and subject only to the prior payment of Agreed Administrative Expense Priorities, as and to the extent set forth in the Final DIP Order or any subsequent order of the Bankruptcy Court.” DIP Motion at5.
If a Participant dies, his Performance Units do not lapse and an Award may be made to him as soon as possible after the date of death.
More Definitions of Agreed Administrative Expense Priorities
Agreed Administrative Expense Priorities means that administrative expenses with respect to the Loan Parties shall have the following order of priority:
Agreed Administrative Expense Priorities means that administrative expenses with respect to the Borrower and the Guarantors, which shall have the following order of priority: first, (i) amounts payable pursuant to 28 U.S.C. § 1930(a)(6) and all fees required to be paid to the Clerk of the Bankruptcy Court and (ii) only upon the occurrence and continuance of an Event of Default, allowed fees, expenses and costs of attorneys, accountants and other professionals retained in the Chapter 11 Cases by the Debtors or any official committee of unsecured creditors pursuant to Bankruptcy Code sections 327, 328, 330, 331, 503 or 1103 and owed pursuant to the terms of such profesionals’ respective engagement letters (other than any success fee, transaction fee, or other similar fee set forth in such professionals’ respective engagement letters), provided that the amount entitled to priority under this sub-clause (ii) (“Priority Professional Expenses”) shall not exceed $1,250,000 minus any retainers held by the professionals at the time of the occurrence of an Event of Default outstanding in the aggregate at any time (such Priority Professional Expenses to be inclusive of any holdbacks required by the Bankruptcy Court) (the “Professional Expense Cap”); second, GECC Superpriority Claim and GECC Adequate Protection Priority Claims; third, all Obligations in accordance with subsection 10.2; and fourth, all other allowed administrative expenses. 66
Agreed Administrative Expense Priorities means that administrative expenses with respect to the Obligors and, with respect to clause (ii) of clause first, any official committee appointed by the Bankruptcy Court, shall have the following order of priority: first, (i) amounts payable pursuant to 28 U.S.C. Section 1930(a)(6), (ii) allowed fees and expenses of professionals retained in the Chapter 11 Cases pursuant to Section Section 327 and 1103 of the Bankruptcy Code, (iii) sales taxes collected by the Obligors that constitute trust funds under Section 111.016 of the Texas Tax Code, and (iv) allowed expenses of members of the Official Committee of Unsecured Creditors appointed in the Chapter 11 Cases; provided, however, that the amount entitled to priority under subclauses (i), (ii) and (iv) of this clause first ("Priority Expenses") shall not exceed $1,500,000 outstanding in the aggregate at any time (inclusive of any holdbacks required by the Bankruptcy Court) (the "Priority Expense Cap"); provided, however, that after the occurrence and during the continuance of an Event of Default any payments actually made to professionals under Section Section 330 and 331 of the Bankruptcy Code shall reduce the Priority Expense Cap; second, all Obligations; and third, all other allowed administrative expenses.
Agreed Administrative Expense Priorities means that administrative expenses with respect to the Borrower and, with respect to clause (ii) of clause "first", any official committee appointed by the United States Trustee in the Chapter 11 Case shall have the following order of priority: first, (i) amounts payable pursuant to 28 U.S.C. ss. 1930(a)(6) and (ii) allowed fees and expenses of attorneys, accountants and other professionals retained in the Chapter 11 Case pursuant to Sections 327 and 1103 of the Bankruptcy Code, but the amount entitled to priority under clause (ii) of this clause first ("Priority Professional Expenses") shall not exceed $5,000,000 outstanding in the aggregate at any time (inclusive of any holdbacks required by the Bankruptcy Court) (the "Professional Expense Cap"); provided, however, that after the occurrence and during the continuance of an Event of Default hereunder or under the Interim Bankruptcy Court Order or the Final Bankruptcy Court Order, any payments actually made to such professionals after such occurrence or during such continuance, under Sections 330 and 331 of the Bankruptcy Code or otherwise, shall reduce the Professional Expense Cap on a dollar-for-dollar basis. second, all Obligations, and third, all other allowed administrative expenses.
Agreed Administrative Expense Priorities means these administrative expenses with respect to the Borrower and, with respect to clause (ii) of clause "first" below, any official committee appointed by the Bankruptcy Court in the Chapter 11 Case, shall have the following order of priority: first, (i) amounts payable pursuant to 28 U.S.C. ss. 1930(a)(6) and (ii) allowed fees and expenses of attorneys, accountants, financial advisors, consultants and other professionals retained by the Debtor or any official unsecured creditors' committee appointed in the Chapter 11 Case pursuant to Sections 327 and 1103 of the Bankruptcy Code, as the case may be (including any accrued and unpaid fees and expenses), whether incurred prior to or following an Event of Default (collectively, the "Professional Expenses"); provided, that after the occurrence and during the continuance of an Event of Default or the Termination Date the aggregate amount of Professional Expenses entitled to priority under clause "(ii)" shall not exceed the amount necessary to pay Professional Expenses for a thirty (30) day period (calculated based upon the 30 day period immediately prior to such Event of Default or Termination Date, as the case may be) up to $300,000 plus the amount then available in the Professional Expense Reserve to pay Professional Expenses (the "Professional Expense Cap"); provided, further, that the following Professional Expenses shall not be entitled to priority under this clause "(ii)": Professional Expenses incurred in connection with the assertion or joinder in any claim, counterclaim, action, proceeding, application, motion, objection, defenses or other contested matter, the purpose of which is to seek any order, judgment, determination or similar relief (A) invalidating, setting aside, avoiding, subordinating, in whole or in part, (i) the Pre-Petition Obligations or the Obligations or (ii) the Lenders' liens in the Collateral or the Pre-Petition Liens or (B) preventing, hindering or delaying, whether directly or indirectly, the Lenders' assertions or enforcement of its liens, security interests or realization upon any Collateral or the Pre-Petition Lenders' assertion or enforcement of the Pre-Petition Liens; and provided, further, that the agreement to a limited priority for Professional Expenses shall not waive any right of the Lenders or the Agent to object to fees and expenses constituting such Professional Expenses or be construed as consent to the allowance of any fees and expenses and nothing herein shall ...
Agreed Administrative Expense Priorities means those administrative expenses with respect to the Borrowers, Syntax Groups Corporation and, with respect to sub-clause (ii) of clause “first”, an official unsecured creditors committee (if any) appointed by the Bankruptcy Court, which shall have the following order of priority: first, (i) the unpaid fees of the Clerk of the Bankruptcy Court and the U.S. Trustee pursuant to 28 U.S.C. § 1930(a), and (ii) amounts in respect of Carve-Out Expenses, second, all Obligations then due and payable, third, all Adequate Protection Obligations (as defined in the Bankruptcy Court Orders); and fourth, all other allowed administrative expenses to the extent then due and payable and not otherwise paid.
Agreed Administrative Expense Priorities means the unpaid fees of the Clerk of the Bankruptcy Court and the U.S. Trustee pursuant to 28 U.S.C. § 1930(a).