Common use of Administrative Priority Clause in Contracts

Administrative Priority. Each of the Borrower and Guarantors agrees for itself that the Obligations of such Person shall 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) and 1114 of the Bankruptcy Code, subject, as to priority, only to Carve-Out Expenses having priority of payment over the Obligations to the extent set forth in the definition of Agreed Administrative Expense Priorities.

Administrative Priority. Each Pursuant to Section 364(c)(1) of the Borrower Bankruptcy Code and Guarantors as provided for in the Final Bankruptcy Court Order, each of the Borrowers agrees for itself that the all Obligations of such Person the Debtor Borrowers under this Agreement shall constitute allowed administrative expenses in the Chapter 11 Cases, Cases having priority over all administrative expenses of and unsecured claims against such Person the Debtor Borrowers now existing or hereafter arising, of any kind or nature whatsoever, including, including without limitation, limitation all administrative expenses of the kind specified in, or arising or ordered under, in Sections 105, 326, 328, 503(b), 506(c), 507(a), 507(b), 546(c) and 1114 507(b) of the Bankruptcy Code, subject, as to priority, only to Carve-Out Expenses having priority of payment over the Obligations to the extent set forth in the definition of Agreed Administrative Expense Priorities.