Professional Fee Carve Out definition

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 of the Obligations are secured by Liens on substantially all the assets of the Borrowers and, at all times, shall constitute administrative expenses of the Borrowers in the Bankruptcy Case with priority under Section 364(c)(1) of the Bankruptcy Code over any and all other administrative expenses of the kind specified in Sections 503(b) and 507(b) of the Bankruptcy Code, subject and subordinate only to the Professional Fee Carve Out.

• September Delivery of the 5 solar power plants in order to CSR ORI008 activity in Tasikmalaya, Yogyakarta, Jember and Banyuwangi.

• Each Grantor represents and warrants that all Claims imposed upon or assessed against the Collateral have been paid and discharged except to the extent (i) such Claims constitute a Lien not yet due and payable, a Permitted Encumbrance or the Professional Fee Carve Out, or (ii) the enforcement of which Claims has been stayed by virtue of the filing of the Chapter 11 Case.

• Each Grantor is as of the date hereof, and, as to Collateral acquired by it from time to time after the date hereof, such Grantor will be, the sole direct and beneficial owner of all Collateral pledged by it hereunder free from any Lien or other right, title or interest of any Person other than the Liens and security interest created by this Security Agreement, Permitted Encumbrances and the Professional Fee Carve Out.

• 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 (the “Court Fees”); (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) (the “Statutory Fees”); (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 $25,000 plus the Court Fees and Statutory Fees referred in (i) and (ii) in this definition, 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 a carve-out in an amount acceptable to the Lenders for unpaid professional fees allowed by the Bankruptcy Court in an amount to be determined, but in no event greater than $2,500,000.

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 the money held by Xxxxxxxx, Xxxxxx & Finger, P.A. in the amount of the Carve-Out Amount (as defined in the DIP Credit Agreement as in effect on the date of this Agreement) for the Carve-Out (as defined in the DIP Credit Agreement as in effect on the date of this Agreement).

Professional Fee Carve Out shall have the meaning set forth in Section 2.12(b)(iii).

Professional Fee Carve Out means the maximum aggregate amount of (a) allowed professional fees and disbursements incurred by professionals retained by the Borrower and any statutory committee of unsecured creditors appointed in the Chapter 11 Case; and (b) quarterly fees required to be paid pursuant to 28 U.S.C. Section 1930(a)(6) whose payment shall have priority over the otherwise super-priority claims granted to the Agent and the Lenders pursuant to the DIP Orders entered by the Court, such maximum aggregate amount not to exceed $250,000 on account of such professional fees and disbursements incurred following a Default under this Agreement, plus the aggregate amount of all unpaid professional fees and disbursements incurred, accrued or invoiced from the Filing Date to the date of Default; provided, however, the Professional Fees Carve-Out shall not include professional fees and disbursements incurred in connection with asserting any claims or causes of action against the Agent and/or Lenders and/or challenging or raising any defense to the Pre-Petition Debt or the Obligations and/or challenging the validity, attachment, binding effect, enforceability, perfection or priority of any Lien granted to the Agent and/or the Lenders pursuant to the Pre-Petition Loan Documents and/or challenging the validity, binding effect or enforceability of the Pre-Petition Loan Documents or the DIP Loan Documents, and/or challenging any of the rights or interests of the Agent or Lenders under the DIP Financing Documents.

Professional Fee Carve Out in sub-clause (iii) of clause “first” of the definition of the term “Agreed Administrative Expense Priorities”.