Examples of Break-Up Fee in a sentence
Alternatively, if the services previously provided by Highland are not transitioned to Oaktree, Oaktree would nevertheless be entitled to an administrative claim for the value of any out of pocket and legal expenses incurred by Oaktree relating to the potential transition of such services to Oaktree, which expenses would be in addition to the Break-Up Fee and any other legal fees or expenses incurred by Oaktree.
If this Agreement is terminated pursuant to Section 4.4(c), Sellers shall also pay the Break-Up Fee to Buyer promptly upon the effective date of termination of this Agreement in accordance with the provisions thereof, and the Parties shall have no further obligations to one another except for any obligations that, by their terms, survive the termination of this Agreement.
However, if the services previously provided by Highland are transitioned to Oaktree, the replacement of Oaktree as the Sub-Advisor before the expiration of the one year minimum term will result in an administrative claim in favor of Oaktree for the value of the remainder of the one year term, which will be partially offset by the Break-Up Fee.
The Break-Up Fee shall be a super-priority administrative expense priority obligation under Section 364(c)(1) of the Bankruptcy Code with priority over all expenses of the kind specified in Sections 503(b) and 507(b) of the Bankruptcy Code.
However, replacement of Oaktree as the Sub-Advisor before the expiration of the one year minimum term will result in an administrative claim in favor of Oaktree for the value of the remainder of the one year term, which will be partially offset by the Break-Up Fee.