Common use of Administrative Priority Clause in Contracts

Administrative Priority. The Borrowers hereby agree that the Obligations of the Borrowers shall constitute allowed administrative expenses in the Chapter 11 Cases having super-priority status under section 364(c)(1) of the Bankruptcy Code over all other administrative expenses and unsecured claims against the Borrowers now existing or hereafter arising of any kind or nature whatsoever, including without limitation all administrative expenses, charges and claims of the kind specified in sections 503(b), 506(c), 726(b) and 507(b) of the Bankruptcy Code, subject, as to priority, only to Carve-Out Expenses.

Administrative Priority. The Borrowers hereby agree that the Obligations of the Borrowers shall constitute allowed administrative expenses in the Chapter 11 Bankruptcy Cases having super-priority status under section § 364(c)(1) of the Bankruptcy Code over all other administrative expenses and unsecured claims against the Borrowers now existing or hereafter arising of any kind or nature whatsoever, including without limitation all administrative expenses, charges and claims of the kind specified in sections §§ 326, 330, 331, 503(a), 503(b), 506(c), 507(a), 507(b), 546(c), and 726(b) and 507(b) of the Bankruptcy Code, subject, as to priority, only to except for the Carve-Out ExpensesExpenses and the Agent’s Adequate Protection Lien and the Agent’s 507(b) Claim.