Professional Fee Carve Out means the carve-out from Byline’s collateral for the fees and expenses incurred by Professionals in the Chapter 11 Cases as contained in the various cash collateral orders that have been entered in the Chapter 11 Cases.
Professional Fee Carve Out means a carve out for the following expenses: (i) all fees required to be paid to the Clerk of the Bankruptcy Court; (ii) all statutory fees payable to the U.S. Trustee pursuant to 28 U.S.C. § 1930(a)(6) and 28 U.S.C. § 156(c); (iii) all Reported Fee Accruals, whether allowed by the Bankruptcy Court prior to or after delivery of a Carve Out Trigger Notice less the amount of the Case Professionals’ pre-petition retainers received but not previously applied to their Professional Fees and Expenses; and (iv) all accrued and unpaid Professional Fees and Expenses incurred after the date of service of a Carve Out Trigger Notice, to the extent allowed at any time, in an aggregate amount not to exceed $300,000 less, without duplication, the amount of such Case Professionals’ pre-petition retainers received but not previously applied to their Professional Fees and Expenses as set forth in clause (iii) herein; provided that the amount set forth in this clause (iv) shall be reduced on a dollar-for-dollar basis for the Professional Fees and Expenses incurred and paid by the Loan Parties after the date of service of a Carve Out Trigger Notice.
Professional Fee Carve Out means following an Event of Default under the Travelers DIP Documents or the BHSI DIP Documents, (a) up to $50,000 in fees and expenses incurred by the Debtor’s professionals from and after an Event of Default under the Travelers DIP Documents; and (b) up to $50,000 in fees and expenses incurred by the Debtor’s professionals from and after an Event of Default under the BHSI DIP Documents.
Examples of Professional Fee Carve Out in a sentence
All funds in the Post-Carve Out Trigger Notice Reserve (other than up to$250,000, which may be used to pay Pre-Carve Out Amounts to the extent they exceed the Professional Fee Carve Out Cap) shall be used first to pay the obligations set forth in clause (iv) of the definition of Carve Out set forth above (the “ Post-Carve Out Amounts”).
They also direct operations and organize, train and equip (OT&E) functions as determined by the Commander.
Professional Fee Carve Out: Also included in the wind-down expenses are accrued but unpaid professional fees that are subject to the professional fee carve out under the DIP Credit Agreement through the Liquidation Date.
Map panels shown at 1” = 2,000’ are tiled using the same neatlines as the corresponding USGS 7.5-minute quadrangles.
Notwithstanding the foregoing, (b) in the event of a default under the Travelers DIP Documents or the BHSI DIP Loan Documents, any Administrative Expense Advances after such default shall be limited the Professional Fee Carve Out; and (c) neither Travelers nor BHSI shall have any obligation to advance funds in excess of the Committee Administrative Expense Advance.
More Definitions of Professional Fee Carve Out
Professional Fee Carve Out means a carve out from the Collateral securing the Obligations under the Loan Documents to ensure payment of the following claims, expenses and costs: (i) all fees required to be paid to the Clerk of the Bankruptcy Court; (ii) all statutory fees payable to the U.S. Trustee pursuant to 28 U.S.C. § 1930(a)(6) and 28 U.S.C. § 156(c); (iii) all accrued and unpaid fees, disbursements, costs and expenses earned or incurred by Case Professionals to the extent allowed at any time, on or after the Petition Date through and including the date of service by the Administrative Agent of a Carve Out Trigger Notice, as limited by the respective Approved Budget amounts for each Case Professional or category of Case Professionals through the date of service of said Carve Out Trigger Notice, whether allowed by the Bankruptcy Court prior to or after delivery of a Carve Out Trigger Notice less the amount of pre-petition retainers received by such Case Professionals; and (iv) all accrued and unpaid fees, disbursements, costs and expenses earned or incurred by the Case Professionals after the date of service of a Carve Out Trigger Notice and not otherwise covered by clause (iii) above, to the extent allowed at any time, in an aggregate amount not to exceed $500,000, less the amount of pre-petition retainers received by such Case Professionals and not applied to the fees, disbursements, costs and expenses set forth in clause (iii) above. The Professional Fee Carve Out shall be reduced on a dollar for dollar basis by any payments of fees or expenses by the Case Professionals.
Professional Fee Carve Out means an amount equal to $3,000,000, plus the Reported Fee Accruals for Professional Fees and Expenses, but only to the extent such Professional Fees and Expenses are allowed by the US Bankruptcy Court and subject to any limitations contained in the DIP Orders. Notwithstanding anything to the contrary contained herein, (i) so long as an Event of Default shall not have occurred and be continuing and notice of such Event of Default has not been provided to the Lead Borrower by the Administrative Agent, the Domestic Borrowers shall be permitted to pay compensation and reimbursement of expense allowed and payable under 11 U.S.C. Section 330 and 331, as the same may be due and payable, and the same shall not reduce the Professional Expense Carve Out and (ii) to the extent the $3,000,000 limitation set forth above on fees and disbursements is reduced by any amount as a result of payment of such fees and disbursements during the continuance of an Event of Default, and such Event of Default is subsequently cured or waived, then effective as of the effectiveness of such cure or waiver, such dollar limitation shall be increased by an amount equal to the amount by which it has been so reduced.
Professional Fee Carve Out means an amount equal to $1,000,000 (inclusive of the amount of Professional Fees and Expenses which have been incurred and have not been paid at the time the Agent notifies the Borrower of the occurrence of an Event of Default and the commencement of the calculation of the Professional Fee Carve Out), but only to the extent such Professional Fees and Expenses are allowed by the Bankruptcy Court.
Professional Fee Carve Out means an amount equal to: (i) quarterly fees required to be paid to the United States Trustee pursuant to 28 U.S.C. §1930(a)(6), plus interest, if applicable, at the statutory rate, and any fees payable to the clerk of the Bankruptcy Court; (ii) the claims of counsel to the Borrowers, whose retention is approved during the Chapter 11 Cases pursuant to Sections 327 and 328 of the Bankruptcy Code, (collectively, the “Debtors’ Professionals”) for unpaid fees and expenses which were incurred at any time on and after the Carve-Out Trigger Date in an aggregate amount not exceeding $125,000; plus the claims of the Debtors’ Professionals for unpaid fees and expenses which were incurred at any time on and after the Petition Date and before the Carve-Out Trigger Date, but such claims shall not exceed the aggregate amounts for such Debtors’ Professionals expressly set forth in the Approved Budget for such period; provided that, in each case, such fees and expenses of the Debtors’ Professionals are ultimately allowed on a final basis by the Bankruptcy Court under sections 330 and 331 of the Bankruptcy Code and are not excluded from the Carve-Out under any DIP Order; and (iii) the claims of counsel to the Committee, whose retention is approved during the Chapter 11 Cases pursuant to Sections 1103 of the Bankruptcy Code, (collectively, the “Committee’s Professionals” and together with the Debtors’ Professionals, the “Retained Professionals”) for unpaid fees and expenses incurred at any time on and after the Carve-Out Trigger Date in an aggregate amount not exceeding $25,000; plus the claims of the Committee’s Professionals for unpaid fees and expenses which were incurred at any time on and after the Petition Date and before the Carve-Out Trigger Date, but such claims shall not exceed the aggregate amounts for such Committee’s Professionals expressly set forth in the Approved Budget for such period; provided that, in each case, such fees and expenses of the Committee’s Professionals are ultimately allowed on a final basis by the Bankruptcy Court under sections 330 and 331 of the Bankruptcy Code and are not excluded from the Carve-Out under and DIP Order.
Professional Fee Carve Out shall have the meaning set forth in Section 2.12(b)(iii).
Professional Fee Carve Out shall have the meaning ascribed to such term in the Financing Order.
Professional Fee Carve Out in sub-clause (iii) of clause “first” of the definition of the term “Agreed Administrative Expense Priorities”.