Funding of Expenses. Amounts equal to the cost of publishing the Notice and other Class Administration Costs are to be paid within thirty (30) days of when such amounts are invoiced to Virgin Scent, along with wire instructions and other required documentation and become due and owing. Virgin Scent and/or its Insurers are not required to advance costs for claims validation or other claims processing related costs until such time such costs are actually incurred. These amounts shall be subtracted from the Aggregate Settlement Fund to calculate the Net Aggregate Settlement Fund.
Funding of Expenses. The Parties agree that Service Recipient will accrue for and pay its direct expenses, including, without limitation, licensing, registration fees, taxes, surety bonds, legal fees, auditing fees and other outside vendors with whom Service Recipient contracts; and the expense allocation payable under Exhibits A, B and C hereto. Service Provider further agrees that it will apportion or chargeback any expenses at the end of each month, or any other applicable billing period, and will not true up any such expenses to Service Recipient at the end of any fiscal year.
Funding of Expenses. Notwithstanding Paragraphs 5, 6 and 7, the ----------------------- Stockholders' Representative may in any Allocation Notice instruct the Escrow Agent to transfer to the Stockholders' Representative a number of Merger Consideration Escrow Shares specified in the Allocation Notice, to be sold by the Stockholders' Representative to provide funds for any or all of the following purposes (the "Expense Funding Shares"); and shall mandatorily include in the Allocation Notice for the First Release Period, after taking into account the Merger Consideration Escrow Shares to be transferred to the Stockholders' Representative pursuant to Paragraph 5(a) as agent for Incentive Plan Participants, which shall have priority, the number of Merger Consideration Escrow Shares to be sold to provide funds to pay the amounts in subpararaphs (d) and (e):
Funding of Expenses. 14 4.14 Chapter 11 Cases Assistance..................................... 15 4.15 Right to Participate in First Public Offering................... 15
Funding of Expenses. From and after the Closing Date, New Globalstar shall pay all reasonable costs and expenses of the Debtors in connection with the administration of the Chapter 11 Cases (including all allowed Claims for administrative expenses payable in cash), any conversion of the Chapter 11 Cases to a liquidation under Chapter 7 of the Bankruptcy Code or any such liquidation and other winding up of the Debtors in accordance with the budget with respect to such costs and expenses attached hereto as Exhibit 4.13 (the "Approved Post-Closing Budget"). The Approved Post-Closing Budget may be updated from time to time by the Debtors, subject to approval of such updates by Investor, which approval shall not be unreasonably withheld or delayed. Investor and the Debtors shall each have standing to object to the reasonableness of costs and expenses reflected in such updates in accordance with the Bankruptcy Code and the procedures of the Bankruptcy Court. In the event that a plan of reorganization is unable to be confirmed solely as a result of the nonpayment of Claims (including, without limitation, administrative expense Claims) in a manner consistent with the requirements of Section 1129(a)(9) of the Bankruptcy Code associated with the Chapter 11 Cases as a result of disputes with respect to updates to the Approved Post-Closing Budget, New Globalstar will promptly register the distribution of the Class A Shares to creditors of the Debtors under the Securities Act of 1933 and pay all reasonable costs and expenses relating thereto.
Funding of Expenses. (a) MgmtCo will continue to operate consistent with current practice (operations, staffing and expenses) for the purpose of performing its obligations under the Fund II Investment Advisory Agreement (and Broadpoint agrees to fund MgmtCo for such operations, subject to the provisions below) through the date (the “Cut-Off Date”) that is the earlier to occur of the following dates (i) the Trigger Date and (ii) December 31, 2008. The parties expect that MgmtCo will operate consistent with a budget agreed upon by the parties attached hereto as Exhibit C, and NewCo will provide Broadpoint with monthly reports outlining actual results as compared to the budget as soon as practicable after the end of each month. In addition, MgmtCo will provide NewCo with bridge funding for reasonable out-of-pocket legal, travel and other expenses incurred by NewCo prior to the Cut-Off Date in connection with the organization and marketing of Fund III (“Fund-Related Expenses”); consistent with the budget agreed upon by the parties attached hereto as Exhibit D, and NewCo will provide Broadpoint with monthly reports outlining actual results as compared to budget as soon as practicable after the end of each month. It is contemplated that the expenses to be borne by MgmtCo pursuant to this Paragraph 8(a) will principally be funded out of the management fees payable to Mgmt Co under the Fund II Investment Advisory Agreement.
