Accrued Professional Compensation Claims definition

Accrued Professional Compensation Claims means, at any given moment, all Claims for accrued fees and expenses (including success fees) for services rendered by a Professional through and including the Effective Date, to the extent such fees and expenses have not been paid pursuant to the Interim Compensation Order or any other order of the Bankruptcy Court and regardless of whether a fee application has been Filed for such fees and expenses. To the extent the Bankruptcy Court denies or reduces by a Final Order any amount of a Professional’s fees or expenses, then the amount by which such fees or expenses are reduced or denied shall reduce the applicable Accrued Professional Compensation Claim.
Accrued Professional Compensation Claims means, at any given time, all Claims for accrued, contingent, and/or unpaid fees and expenses rendered allowable before the Effective Date by any retained Professional in the Chapter 11 Cases that the Bankruptcy Court has not denied by Final Order; provided, however, that any such fees and expenses (a) have not been previously paid (regardless of whether a fee application has been Filed for any such amount) and (b) have not been applied against any retainer that has been provided to such Professional. To the extent that the Bankruptcy Court or any higher court of competent jurisdiction denies or reduces by a Final Order any amount of a Professional’s fees or expenses, then those reduced or denied amounts shall no longer constitute Accrued Professional Compensation Claims.
Accrued Professional Compensation Claims means Claims for all accrued, contingent or unpaid fees and expenses (including success fees) for legal, financial advisory, accounting and other services and reimbursement of expenses of the Professionals that are awardable and allowable under sections 327, 328, 330, 331, 503(b), or 1103 of the Bankruptcy Code or otherwise incurred before the Effective Date and Allowed before or after the Effective Date. To the extent that the Bankruptcy Court or any higher court of competent jurisdiction denies or reduces by a Final Order any amount of a Professional’s fees or expenses, or the Professional otherwise agrees to reduce its fees and expenses, then those reduced or denied amounts shall no longer constitute Accrued Professional Compensation Claims.

Examples of Accrued Professional Compensation Claims in a sentence

In accordance with section 1123(a)(l) of the Bankruptcy Code, Administrative Claims, Accrued Professional Compensation Claims, DIP Inc.

FACILITY CLAIMS, PRIORITY TAX CLAIMS, AND U.S. TRUSTEE FEES All Claims and Equity Interests (except Administrative Claims, Accrued Professional Compensation Claims, DIP Inc.

After notice and a hearing in accordance with the procedures established by the Bankruptcy Code and prior Bankruptcy Court orders, the Allowed amounts of such Accrued Professional Compensation Claims shall be determined by the Bankruptcy Court and satisfied in accordance with an order of the Bankruptcy Court.

The amount of Accrued Professional Compensation Claims owing to the Professionals shall be paid in Cash to such Professionals from funds held in the Professional Fee Escrow Account when such Claims are Allowed by a Final Order.


More Definitions of Accrued Professional Compensation Claims

Accrued Professional Compensation Claims means, at any given moment, all Claims for accrued fees and expenses for services rendered by a Professional through and including the Confirmation Date, to the extent such fees and expenses have not been paid pursuant to the Interim Compensation Order or any other order of the Bankruptcy Court and regardless of whether a fee application has been Filed for such fees and expenses; provided that the Accrued Professional Compensation Claims with respect to Andrews Kurth LLP and Gavin Solmonese LLC shall be Allowed in an amount no greater than the Committee Professionals Escrow Amount with respect to each such Professional; provided, further, that, to the extent the Bankruptcy Court denies or reduces by a Final Order any amount of a Professional’s fees or expenses, then the amount by which such fees or expenses are reduced or denied shall reduce the applicable Accrued Professional Compensation Claim and the Professional Fee Escrow Amount with respect to such Claim. For the avoidance of doubt, the Accrued Professional Compensation Claims with respect to Andrews Kurth LLP and Gavin Solmonese LLC shall equal the Committee Professionals Escrow Amount solely for purposes of the Global Settlement, and all rights regarding the Committee Professionals Escrow Amount are reserved and fully preserved if the Plan is not Confirmed, the Effective Date does not occur, or the Global Settlement is not otherwise consummated.
Accrued Professional Compensation Claims means (a) all Allowed Administrative Claims for accrued fees and expenses (including transaction or sale fees) for services rendered by a Professional through and including the Effective Date, to the extent such fees and expenses have not been previously paid pursuant to any order of the Bankruptcy Court and regardless of whether a fee application has been Filed for such fees and expenses and (b) all Allowed requests for compensation or expense reimbursement for making a substantial contribution in the Chapter 11 Cases pursuant to Sections 503(b)(3), (4), and (5) of the Bankruptcy Code. The holders and projected amounts of the Accrued Professional Compensation Claims are set forth in Schedule B hereto.
Accrued Professional Compensation Claims means any accrued but unpaid professional fees incurred by the Sellers during the period commencing on the Petition Date and ending at the earlier of the Closing and the effective date of the Acceptable Chapter 11 Plan.

Related to Accrued Professional Compensation Claims

Final Compensation of a member means:
income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;
Accrued Benefits means the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive’s employment for reasonable and necessary expenses incurred by the Executive on behalf of the Company for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; and (iv) all other payments and benefits to which the Executive (or in the event of the Executive’s death, the Executive’s surviving spouse or other beneficiary), including those provided pursuant to Exhibit A, is entitled on the Termination Date under the terms of any benefit plan of the Company, excluding severance payments under any Company severance policy, practice or agreement in effect on the Termination Date. Payment of Accrued Benefits shall be made promptly in accordance with the Company’s prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii) and (iv), pursuant to the terms of the benefit plan or practice establishing such benefits.
Total Compensation means the cash and noncash dollar value earned by the executive during the Contractor’s preceding fiscal year and includes the following (for more information see 17 CFR 229.402(c)(2)):
Compensation Period has the meaning specified in Section 2.12(c)(ii).
Date of Termination means (i) if the Executive's employment is terminated by the Company for Cause, or by the Executive for Good Reason, the date of receipt of the Notice of Termination or any later date specified therein, as the case may be, (ii) if the Executive's employment is terminated by the Company other than for Cause or Disability, the Date of Termination shall be the date on which the Company notifies the Executive of such termination and (iii) if the Executive's employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death of the Executive or the Disability Effective Date, as the case may be.