Professional Fees and Expenses means, subject to any limitations contained in the DIP Orders, (a) allowed administrative expenses payable pursuant to 28 U.S.C. § 1930(a)(6), and (b) professional fees of, and costs and expenses incurred by, Case Professionals.
Professional Fees and Expenses has the meaning specified in the Interim Bankruptcy Court Order.
Professional Fees and Expenses incurred on and after the Petition Date and before the occurrence of a Carve-Out Trigger Date (as defined below) in an unlimited amount and (c) Professional Fees and Expenses incurred after the occurrence of a Carve-Out Trigger Date, in an amount not to exceed $7.0 million (the “Post-Trigger Date Carve-Out”). Payment of Professional Fees and Expenses pursuant to the Carve-Out is subject to entry of a customary order of the Bankruptcy Court, allowing for the interim payment of such amounts, and subject further to Bankruptcy Court approval of any such Professional Fees and Expenses; provided that the Carve-Out shall not be available to pay Professional Fees and Expenses incurred by any party, including the Loan Parties or any committee or any professionals engaged thereby, in connection with the initiation or prosecution of any claims, causes of action, adversary proceedings or other litigation against any of the DIP Term Facility Agent, the DIP Term Lenders or other secured parties under the DIP Term Documents, subject to $75,000 being available for a committee to investigate the validity and enforceability of the obligations under and liens securing the Prepetition RBL Credit Agreement. The “Carve-Out Trigger Date” means the first business day after the DIP Term Facility Agent provides a written notice to the DIP Term Facility Borrower and its counsel that an event of default under the DIP Term Facility (an “Event of Default”) (or an event which with the giving of notice would constitute an Event of Default) has occurred and that the Post-Trigger Date Carve-Out has been invoked. Upon the occurrence of the Carve-Out Trigger Date, the DIP Term Facility Borrower shall deposit into an interest-bearing escrow account at a financial institution acceptable to the Required DIP Term Lenders (the “Carve-Out Account”) an amount equal to the sum of (i) all fees and expenses required to be paid pursuant to clause (a) in the definition of Carve-Out above, (ii) all billed and unpaid Professional Fees and Expenses (including outstanding holdbacks) incurred on or after the Petition Date and prior to the Carve-Out Trigger Date, (iii) all unbilled Professionals Fees and Expenses incurred on or after the Petition Date and prior to the Carve-Out Trigger Date and (iv) $7.0 million. For the avoidance of doubt, if the “Carve-Out Trigger Date” happens under both the Senior DIP Facility and the DIP Term Facility, satisfaction of the deposit requirements under the Senior DIP Facilit...
Examples of Professional Fees and Expenses in a sentence
All payments to Professionals for Professional Fees and Expenses Claims will be made in accordance with the procedures established by the Code, the Rules and the Court relating to the payment of interim and final compensation for services rendered and reimbursement of expenses.
The Policyholder and any other person insured under this Policy shall, at The Company's expense, take every available step to recover from third parties their Professional Fees and Expenses payable under this Policy and such Professional Fees and Expenses must be paid to The Company.
If the amounts on deposit in the Professional Fee Reserve Account shall be insufficient to pay the amount of Professional Fees and Expenses awarded to any entity, the balance shall be paid by the Reorganized Debtors as an Allowed Administrative Expense Claim.
In addition, a statement must be included with the Schedule of Professional Fees and Expenses stating the firm will accept reimbursement for travel, lodging and subsistence at the prevailing BWC rates for its employees.
All entities seeking an award by the Court of Professional Fees and Expenses shall file their respective final applications for allowance of compensation for services rendered and reimbursement of expenses incurred through the Effective Date pursuant to section 330 of the Code and Rule 2016 by the date that is ten (10) days after the Effective Date or such other date as may be fixed by the Court.
More Definitions of Professional Fees and Expenses
Professional Fees and Expenses means the Claims and Administrative Expenses of professionals retained by the Debtor, the Committee or the Examiner pursuant to section 327 of the Bankruptcy Code and payable pursuant to Sections 330 and 331 of the Bankruptcy Code.
Professional Fees and Expenses means the reasonable and documented fees and expenses of professionals of Sellers and any committee appointed in the Bankruptcy Cases pursuant to section 1102 of the Bankruptcy Code that are accrued and unpaid as of the Closing Date, whether or not included in a fee statement or fee application at such time and whether or not allowed by the Bankruptcy Court at such time.
Professional Fees and Expenses has the meaning assigned to such term in the definition of “Carve Out”.
Professional Fees and Expenses means (a) amounts payable pursuant to 28 U.S.C. § 1930(a)(6) and (b) professional fees and expenses of attorneys, accountants, financial advisors, consultants, and other professionals retained by the Borrowers or the Creditors’ Committee or other statutory committee appointed in the Chapter 11 Cases pursuant to §§ 327 and 1103 of the Bankruptcy Code or any Chapter 11 or Chapter 7 trustees appointed in the Chapter 11 Cases.
Professional Fees and Expenses means (a) amounts payable pursuant to 28 U.S.C. § 1930(a)(6), and (b) professional fees and expenses of attorneys, accountants, financial advisors, consultants and other professionals retained by the Borrower or the Creditors’ Committee or other statutory committee appointed in the Case pursuant to §§327 and 1103 of the Bankruptcy Code or any Chapter 11 or Chapter 7 trustees appointed in the Case (except, in each case, to the extent that such fees and expenses represent services or were incurred in the prosecution of actions, claims or causes of action against the Agent or any of the Lenders in connection with a challenge to any aspect of their rights and obligations with respect to any Loan Document or the Pre-Petition Credit Agreement and Loan Documents thereunder).
Professional Fees and Expenses means Administrative Claims of the professionals hired by the Debtor and shall also include any and all fees and expenses of BSSN incurred by the Debtor after the Confirmation Date, including, but not limited to, the costs and expenses incurred in relation to pursuing the Causes of Action and shall include the costs and expenses of any Liquidating Trustee.
Professional Fees and Expenses means the actual fees and expenses paid by (or credited to) the Borrower with respect to (i) the Borrower's Advisors, (ii) Kaufman & Canoles, P.C., (iii) Riemer & Braunstein LXX, (xx) Exxxx & Young Corporate Finance XXX, (x) the Agent's local Canadian counsel, (vi) the Borrower's local Canadian counsel, and (vii) up to $200,000.00 of fees paid to other service providers and/or advisors retained by the Borrower and reasonably acceptable to the Agent, in each case relating to (a) the negotiation and preparation of the Amendment and the Limited Waiver and Amendment each dated October 15, 2002, (b) the negotiation and preparation of this Agreement, (c) the negotiation and preparation of the First Amendment and Waiver, and (d) the Borrower's Advisors continued involvement with the Borrower. In no event shall "Professional Fees and Expenses" exceed, in the aggregate, the following amounts for the following periods: