Common use of Administrative Priority Clause in Contracts

Administrative Priority. The Borrower hereby agrees that the Obligations of the Borrower shall constitute allowed administrative expenses in the Chapter 11 Case having priority over all administrative expenses of and unsecured claims against the Borrower now existing or hereafter arising, of any kind or nature whatsoever, including without limitation all administrative expenses of the kind specified in Sections 503(b) and 507(b) of the Bankruptcy Code, subject, as to priority, only to Carve-Out Expenses having priority over the Obligations to the extent set forth in the definition of Agreed Administrative Expense Priorities.

Appears in 1 contract

Sources: Revolving Credit Agreement (Best Products Co Inc)

Administrative Priority. The Borrower Borrowers hereby agrees agree that the Obligations of the Borrower shall constitute allowed administrative expenses in the Chapter 11 Case Cases having priority over all administrative expenses of and unsecured claims against the Borrower Borrowers now existing or hereafter arising, of any kind or nature whatsoever, including without limitation all administrative expenses of the kind specified in Sections 503(b) and 507(b) of the Bankruptcy Code, subject, as to priority, only to the Professional Fee Carve-Out Expenses having priority over the any Obligations to the extent set forth in the definition of Agreed Administrative Expense PrioritiesFinal Financing Order.

Appears in 1 contract

Sources: Loan and Security Agreement (Advanced Lighting Technologies Inc)

Administrative Priority. The Borrower hereby agrees that the Obligations of the Borrower shall constitute allowed administrative expenses in the Chapter 11 Case having priority over all administrative expenses of and unsecured claims against the Borrower now existing or hereafter arising, of any kind or nature whatsoever, including without limitation all administrative expenses of the kind specified in Sections 503(b) and 507(b) of the Bankruptcy Code, subject, as to priority, only to Carve-Out Expenses having priority over other than those expenses constituting the Obligations to the extent set forth in the definition of Agreed Administrative Expense Priorities"Carveout".

Appears in 1 contract

Sources: Revolving Credit Agreement (Gander Mountain Inc)

Administrative Priority. The Borrower hereby agrees that the Obligations of the Borrower shall will ----------------------- constitute allowed administrative expenses in the Chapter 11 Case having priority over all other administrative expenses of and unsecured claims against the Borrower now existing or hereafter arising, of any kind or nature whatsoever, including without limitation all administrative expenses of the kind specified in Sections 503(b) and 507(b) of the Bankruptcy Code, subject, as to priority, only to Carve-Out Expenses having a priority over the Obligations to the extent set forth in the definition of Agreed Administrative Expense Priorities.Section 2.11. ------------

Appears in 1 contract

Sources: Loan and Security Agreement (System Software Associates Inc)

Administrative Priority. The Borrower hereby agrees that the Obligations of the Borrower shall Credit Parties hereunder will constitute allowed administrative expenses in the Chapter 11 Case Cases having priority over all administrative expenses of and unsecured claims against the Borrower Credit Parties now existing or hereafter arising, of any kind or nature whatsoever, including without limitation all administrative expenses of the kind specified in Sections sections 503(b) and 507(b) of the Bankruptcy Code, subject, as to priority, only to Carve-Out Expenses having priority over the Obligations to the extent set forth in the definition of Agreed Administrative Expense Priorities.

Appears in 1 contract

Sources: Debtor in Possession Credit and Guaranty Agreement (NTL Delaware Inc)