KERP Charge definition

KERP Charge means the charge over the Property created by paragraph 25 of the Initial Order, and having the priority provided in paragraphs 63 and 65 of such Order;
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KERP Charge means the charge in favour of certain key employees of ACC and its subsidiary, Ardenton Capital Canada Inc., pursuant to an Order of the Court dated May 6, 2021;
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KERP Charge means the charge in favour of the KERP Participants as created under paragraph 64 of the Initial Order.
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Examples of KERP Charge in a sentence

  • The KERP Charge shall have the priority set out in paragraphs 16 and 18 hereof.

  • Approved a priority charge up to the maximum amount of USD $6,600,000 for Financial Advisors, inferior only to the Administration Charge, the Interim Financing Charge, the Credit Card Charge, the Directors’ Charge and the KERP Charge.

  • The beneficiaries of the KERP Charge were paid in full during the CCAA proceedings with the exception of 50% of the retention bonuses payable to three senior members of management.

  • All of Borrower's invoices shall bear the terms stated on the applicable customer order, and no material change from the original terms of such customer order shall be made without the prior written consent of Lender.

  • On the Effective Date, all amounts owing under the KERP and secured by the KERP Charge as at the Effective Date shall be fully paid by the Just Energy Entities to the beneficiaries thereof.


More Definitions of KERP Charge

KERP Charge means the charge granted by the Court to secure the KERP pursuant to the Amended and Restated Initial Order.
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KERP Charge means a priority charge over the Collateral granted by the CCAA Court pursuant to the ARIO to secure payment of the KERP, with the priority and the amount as set out in Section 10.
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KERP Charge means the charge over the Property created by paragraph 41 of the Initial Order;
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KERP Charge has the meaning given to such term in the Initial Order. “L/C Credit Support” has the meaning set forth in Section 2.07(k) hereof.
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KERP Charge means the charge created under the KERP Order securing the KERP Obligations, subject to the limits set out in the KERP Order or in any other Order consented to by the Buyers.
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KERP Charge means a key employee retention program charge pursuant to the Amended Order in an amount not to exceed $998,311 which shall rank in priority to the FA Charge, the Senior Priority Lender Liens and the DIP Lender Charge, and behind the Administration Charge and the D&O Charge.
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KERP Charge the charge granted by the order of the Court dated 5 July 2017 over the Property, for the beneficiaries of the key employee retention plan, and in the amount of CAD$150,000;
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