Agreed Administrative Expense Priorities means that administrative expenses with respect to the Debtor 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. Section 1930(a)(6) and any fees payable to the clerk of the Bankruptcy Court, (ii) allowed fees and expenses of attorneys, accountants and other professionals retained by formal application in the Chapter 11 Cases pursuant to Sections 327 and 1103 of the Bankruptcy Code (except to the extent such fees and expenses were incurred for services rendered in connection with (i) the prosecution of an adversary proceeding against the Agent or the Lenders, except to the extent necessary to determine an Event of Default; (ii) any challenge respecting the priority or validity of any lien granted under the Revolving Loan Documents; or (iii) following the issuance of a notice of an Event of Default under the Revolving Loan Documents or the Final Bankruptcy Court Order, and absent a determination by the Bankruptcy Court or agreement by the Lenders that such Event of Default did not occur or is waived, any action preventing or hindering or unreasonably delaying, whether directly or indirectly, either the Agent's enforcement of the Liens granted to the Agent and the Lenders hereunder or the Agent's realization upon the Collateral), but the amount entitled to priority under sub-clause (ii) of this clause first ("Priority Professional Expenses") shall not exceed $5,000,000 outstanding and unpaid in the aggregate at any time (inclusive of any holdbacks required by the Bankruptcy Court and any amounts unbilled for services performed prior to a Priority Triggering Event) (the "Professional Expense Cap"); provided, however, that (A) after the Agent has provided (by hand or facsimile) written 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 (a "Priority Triggering Event"), 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 mad...
Agreed Administrative Expense Priorities means that administrative expenses with respect to the Borrowers and, with respect to sub-clause (ii) of clause ”first”, an official unsecured creditors committee (if any) 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 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 (a) prior to a Carve-Out Expense Reduction Period, the aggregate amount set forth in the Budget for such Carve-Out Expenses for the applicable Budget Period (taking into account any Permitted Deviation therefrom) and (b) during a Carve-Out Expense Reduction Period, the sum of (1) the aggregate amount of Carve-Out Expenses (so long as not incurred in connection with any action or claim against the Prepetition Agents, the Prepetition Indebtedness Holders, the Agents or the Lenders, including, without limitation, any claim challenging the amount, validity, priority or enforceability of the Prepetition Obligations or the Obligations) accrued and not paid immediately prior to the commencement of a Carve-Out Expense Reduction Period and (2) $2,000,000 (as to the period in clause (b), the “Professional Expense Cap”); provided, that the portion of the Professional Expense Cap attributable to any professionals retained pursuant to an Order of the Bankruptcy Court by an official unsecured creditors committee (“Committee”) shall not exceed $450,000 (the “Committee Expense Cap”), which Committee Expense Cap shall be reduced dollar-for-dollar by the amount of fees and expenses actually paid to such professionals retained by the Committee during the period of the first 100 days following the Committee’s appointment (if any); provided, further, however, that (A) 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 (B) 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 Obligations then due and payable, and third, all other allowed administrative expenses (other than expenses of any Committee in excess of the Committee Expense Cap) to the extent then due and payable and not otherwise paid.
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
Social safeguard issues will be monitored by technical specialists contracted by the EPA during project implementation and by specialists participating in Bank/KfW supervision missions, on the basis of social indicators included in the GPAS M&E plan, to be further refined throughout project implementation.
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.
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 those administrative expenses with respect to the Borrower and the Guarantors 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. Section 1930(a)(6) and any fees payable to the Clerk of the Bankruptcy Court in connection with the Chapter 11 Cases and (ii) allowed fees and expenses of attorneys, accountants and other professionals retained in the Chapter 11 Cases pursuant to Sections 327, 328, 330, 331 and 1103 of the Bankruptcy Code, to the extent that the amount entitled to priority under this sub-clause (ii) of this clause first ("Priority Professional Expenses") does 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 (A) during the continuance of an Event of Default hereunder or a default by the Borrower or any Guarantor in any of their obligations under any of the Bankruptcy Court Orders, any payments actually made to such professionals during such continuance, under Sections 327, 328, 330, 331 and 1103 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, so long as no Event of Default or a default by the Borrower or any Guarantor in any of their obligations under any of the Bankruptcy Court Orders shall have occurred and be continuing, the payment of administrative expenses allowed and payable under Sections 327, 328, 330, 331 and 1103 of the Bankruptcy Code or otherwise shall not reduce the Professional Expense Cap, second, all Obligations in accordance with Section 4.02, third, the junior superpriority administrative claims of the Existing Lenders under Section 507(b) of the Bankruptcy Code, and fourth, all other allowed administrative expenses.
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 Issuer 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) allowed fees and expenses of attorneys, accountants and other professionals retained in the Chapter 11 Case pursuant to Sections 327, 328, 330 and 331 of the Bankruptcy Code, to the extent that the amount entitled to priority under this sub-clause (ii) of this clause first (“Priority Professional Expenses”) does not exceed $2,000,000 outstanding in the aggregate at any time (inclusive of any holdbacks required by the Bankruptcy Court) (the “Professional Expense Cap”); provided, however, that (A) during the continuance of an Event of Default hereunder or a default by the Issuer in any of its obligations under the Bankruptcy Court Orders, any payments actually made to such professionals during such continuance, under Sections 327, 328, 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, so long as no Event of Default or a default by the Issuer in any of its obligations under the Bankruptcy Court Orders shall have occurred and be continuing, the payment of administrative expenses allowed and payable under Sections 327, 328, 330 and 331 of the Bankruptcy Code or otherwise shall not reduce the Professional Expense Cap, second, all Obligations in accordance with Section 4.02, and third, all other allowed administrative expenses.
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.
Agreed Administrative Expense Priorities means that administrative expenses with respect to the Borrowers and the Guarantors 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. Section 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, 328, 330, 331 and 1103 of the Bankruptcy Code, to the extent that the amount entitled to priority under sub-clause (ii) of this clause FIRST ("PRIORITY PROFESSIONAL EXPENSES") does not exceed $500,000 in the aggregate at any time (inclusive of any holdbacks required by the Bankruptcy Court) (the "PROFESSIONAL EXPENSE CAP"); PROVIDED, HOWEVER, that (x) during the continuance of an Event of Default hereunder or a default by any Borrower or Guarantor in any of its obligations under the Final Bankruptcy Court Order, any payments actually made to such professionals during such continuance, under Sections 327, 328, 330, 331 and 1103 of the Bankruptcy Code or otherwise, shall reduce the Professional Expense Cap on a dollar-for-dollar basis, (y) so long as no Event of Default or a default by any Borrower or Guarantor in any of its obligations under the Final Bankruptcy Court Order shall have occurred and be continuing, the payment of administrative expenses allowed and payable under Sections 327, 328, 330, 331 and 1103 of the Bankruptcy Code or otherwise shall not be applied against the Professional Expense Cap and (z) on and after the Final Maturity Date, amounts in the Letter of Credit Collateral Account shall not be used for, or subject to the prior payment of, the Carve-Out Expenses, SECOND, all Obligations in accordance with Section 3.02, and THIRD, all other allowed administrative expenses.
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).
Agreed Administrative Expense Priorities means those administrative expenses with respect to the Borrowers and the Guarantors 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. Section 1930(a)(6) and any fees payable to the Clerk of the Bankruptcy Court and (ii) the Carve-Out Expenses, provided, that the amount entitled to priority under this sub-clause (ii) of this clause first ("Priority Professional Expenses") is funded with the proceeds of the Carve-Out Term Loan B (inclusive of (a) any holdbacks required by the Bankruptcy Court, (b) actual, documented reasonable fees and expenses of a trustee payable under Section 726(b) of the Bankruptcy Code, as required by the Guidelines, and (c) reasonable and actual, documented expenses of the members of the statutory creditors' committee, if any); second, all Obligations in accordance with Section 4.05, and third, all other allowed administrative expenses.