Priority Professional Expenses definition

Priority Professional Expenses means those expenses entitled to a priority as set forth in sub-clause (ii) of the clause "first" of the definition of the term "Agreed Administrative Expense Priorities".

Priority Professional Expenses means allowed fees, costs and reasonable expenses allowed or permitted pursuant to Sections 330 and 331 of the Bankruptcy Code, exclusive of prepetition retainers, of:

Priority Professional Expenses shall not include any Ineligible Professional Expenses and (ii) the amount of Priority Professional Expenses shall not exceed the Professional Expense Cap.

Examples of Priority Professional Expenses in a sentence

• All payments of Priority Professional Expenses made on and after the Termination Declaration Date shall reduce the Professional Expense Cap dollar for dollar.

• At the time of reference thereto, the sum of (i) allowed administrative expenses payable pursuant to 28 U.S.C.ss.1930(a)(6) and (ii) Priority Professional Expenses incurred on and after the Filing Date.

• At the time of reference thereto, allowed and unpaid fees, costs and reasonable expenses of professionals retained in the Cases pursuant to Sections 327 and 1103 of the Bankruptcy Code consisting of attorneys, accountants, financial advisors, and consultants retained by the Borrowers or the Creditors' Committee; PROVIDED, HOWEVER, that the amount of Priority Professional Expenses shall not exceed the applicable Professional Expense Cap if in effect at the time of reference thereto.

• Taken with our findings that older respondents are less likely to identify as a person of colour, we can infer that older respondents may have immigrated from countries that predominantly white or white presenting, whereas younger respondents who have greater likelihood of identifying as a visible minority and report being a Canadian citizen by birth may be second or third generation Canadians from families who have non-white ethnic origins.

• As used in this Second Interim Order, "Carve-Out" means, at any time of determination, the sum of (a) allowed administrative expenses payable pursuant to 28 U.S.C. Section 1930(a)(6) and (b) Priority Professional Expenses (as defined below), subject to the Priority Expense Cap (as defined below).

More Definitions of Priority Professional Expenses

Priority Professional Expenses means allowed and unpaid fees, costs and reasonable expenses of professionals retained in the Cases pursuant to Sections 327 and 1103 of the Bankruptcy Code consisting of attorneys, accountants, financial advisors, and consultants retained by the Borrowers, the Guarantors, the Creditors' Committee or any Bondholder's Committee; provided, however, that (i) Ineligible Professional Expenses and the fees, costs and expenses of third-party professionals employed by the members of the Creditors' Committee or any Bondholder's Committee shall not be included, and (ii) the amount of Priority Professional Expenses shall not exceed the applicable Professional Expense Cap if in effect at the time of reference thereto. "PROFESSIONAL EXPENSE CAP" If, at the time of reference thereto, the Termination Declaration Date has not occurred, there is no Professional Expense Cap. If, at the time of reference thereto, the Termination Declaration Date has occurred, the Professional Expense Cap is the aggregate sum of $2,000,000, whether the fees and expenses are allowed and unpaid at the time of the Termination Declaration Date or are incurred before or after the Termination Declaration Date. The term includes any holdbacks required by the Bankruptcy Court. All payments of Priority Professional Expenses made on and after the Termination Declaration Date shall reduce the Professional Expense Cap dollar for dollar.

Priority Professional Expenses set forth in Article 1 in its entirety and substituting in lieu thereof the following new definition:

Priority Professional Expenses. At the time of reference thereto, accrued and unpaid allowed fees, costs and reasonable expenses of the members of the Creditors' Committee and professionals retained in the Proceedings pursuant to Sections 327 and 1103 of the Bankruptcy Code consisting of attorneys, accountants, financial advisors and consultants retained by the Borrowers or the Creditors' Committee; provided, however, that the amount of Priority Professional Expenses shall not exceed the Professional Expense Cap for purposes of the Carve Out Reserve. The term does not include any Ineligible Professional Expenses or the expenses of any professionals engaged by members of the Creditors' Committee."

Priority Professional Expenses. At the time of reference thereto, allowed and unpaid fees, costs and reasonable expenses of professionals retained in the Proceedings pursuant to Sections 327 and 1103 of the Bankruptcy Code consisting of attorneys, accountants, financial advisors and consultants retained by the Borrowers or the Creditors' Committee; provided, however, that the amount of Priority Professional Expenses shall not exceed the Professional Expense Cap for purposes of the Carve Out Reserve. The term does not include any Ineligible Professional Expenses or the expenses of any professionals engaged by individual members of the Creditors' Committee.

Priority Professional Expenses means allowed and unpaid fees, costs and reasonable expenses of professionals retained in the Proceedings pursuant to Sections 327 and 1103 of the Bankruptcy Code consisting of attorneys, accountants, financial advisors, and consultants retained by the Borrower, the Creditors' Committee or any Chapter 11 or Chapter 7 trustee appointed in the Proceedings; PROVIDED, HOWEVER, that (i) the term "Priority Professional Expenses" shall not include any Ineligible Professional Expenses and (ii) the amount of Priority Professional Expenses shall not exceed the Professional Expense Cap.

Priority Professional Expenses means allowed (whenever such fees, costs and expenses may be allowed) and unpaid fees, costs and expenses of professionals retained in the Case pursuant to Sections 327, 328, 363 and 1103 of the Bankruptcy Code consisting of any attorneys, accountants, financial advisors, consultants and other Persons and firms retained by Borrower or the Creditors’ Committee; provided, h owever, that (i) the term “Priority Professional Expenses” shall not include any Ineligible Professional Expenses, and (ii) the amount of Priority Professional Expenses shall not exceed the Professional Expense Cap.

Priority Professional Expenses shall not include any Ineligible Professional Expenses and (ii) the amount of Priority Professional Expenses shall not exceed the Professional Expense Cap. Professional Expense Cap. $3,700,000 in the aggregate (inclusive of any holdbacks required by the Bankruptcy Court), which shall accrue in equal monthly increments of $616,500 in each of the first six months following the Filing Date; provided however, if an Event of Default occurs the then unaccrued amount of the $3,700,000 Professional Expense Cap shall be immediately available up to $1,500,000, and if the unaccrued amount is greater than $1,500,000 the excess amount shall be eliminated.