Common use of Administrative Priority Clause in Contracts

Administrative Priority. Each of the Loan Parties agrees for itself that the Obligations of such Person shall, pursuant to Section 364(c)(1) of the Bankruptcy Code, constitute allowed administrative expenses in the Chapter 11 Cases, having priority over all administrative expenses of and unsecured claims against such Person now existing or hereafter arising, of any kind or nature whatsoever, including, without limitation, all administrative expenses of the kind specified in, or arising or ordered under, Sections 105, 326, 328, 503(b), 506(c), 507(a), 507(b), 546(c), 552(b), 726, 1113 and 1114 of the Bankruptcy Code, subject only to the prior payment of Carve-Out Expenses to the extent set forth in the Bankruptcy Court Orders.

Administrative Priority. Each of the Loan Parties agrees for itself that the Obligations of such Person shallthat, pursuant to Section 364(c)(1Sections 364(c) and 364(d) of the Bankruptcy Code, the Obligations of such Person shall be DIP Superpriority Claims and constitute allowed administrative expenses in the Chapter 11 CasesCase, having priority over all administrative expenses of and unsecured claims against such Person now existing or hereafter arising, of any kind or nature whatsoever, including, without limitation, including all administrative expenses of the kind specified in, or arising or ordered under, Sections 105, 326, 328, 330, 331, 503(b), 506(c), 507(a), 507(b), 546(c), 552(b), 726, 1113 726 and 1114 of the Bankruptcy Code, subject only other than with respect to the prior payment of Carve-Out Expenses to the extent set forth in the Bankruptcy Court OrdersOut.

Administrative Priority. Each of the Loan Parties agrees for itself that the Obligations of such Person shallthat, pursuant to Section 364(c)(1Sections 364(c) and 364(d) of the Bankruptcy Code, the Obligations of such Person shall be DIP Superpriority Claims and constitute allowed administrative expenses in the Chapter 11 CasesCase, having priority over all administrative expenses of and unsecured claims against such Person now existing or hereafter arising, of any kind or nature whatsoever, including, without limitation, including all administrative expenses of the kind specified in, or arising or ordered under, Sections 105, 326, 328, 330, 331, 503(b), 506(c), 507(a), 507(b), 546(c), 552(b), 726, 1113 726 and 1114 of the Bankruptcy Code, subject only to the prior payment of Carve-Out Expenses to the extent set forth in the Bankruptcy Court Orders.