Fee Escrow definition

Fee Escrow means the segregated account no. 359681263786 with KeyBank that was funded with a total of $40 million consistent with the DIP Lender Winddown Order to pay certain Professional fees and expenses incurred prior to the Closing Date.
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Fee Escrow means the segregated account no. 359681263786 with KeyBank that was funded
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Fee Escrow has the meaning assigned to it in Section 2.1(e)(ii) hereof.
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Examples of Fee Escrow in a sentence

  • The Professional Fee Escrow Account shall be maintained in trust solely for the Professionals.

  • The Advisor shall have the right and power, without any further approval of the Company to cause the Escrow Agent to draw on the Letter of Credit, provided that any draws on the Letter of Credit shall remain in the Termination Fee Escrow Account.

  • All amounts so deposited shall be retained in escrow pursuant to the terms of the Termination Fee Escrow Agreement.

  • The Company and the Advisor shall equally share all costs of the Termination Fee Escrow Account including the reasonable fees and expenses of each Escrow Agent.

  • The amount of Professional Fee Claims owing to the Professionals shall be paid in Cash to such Professionals by the Reorganized Debtors from the Professional Fee Escrow Account as soon as reasonably practicable after such Professional Fee Claims are Allowed.

  • No Liens, claims, or interests shall encumber the Professional Fee Escrow Account or Cash held in the Professional Fee Escrow Account in any way.

  • The Reorganized Debtors shall pay Professional Fee Claims in Cash in the amount the Bankruptcy Court allows, including from the Professional Fee Escrow Account, which the Reorganized Debtors will establish in trust for the Professionals and fund with Cash equal to the Professional Fee Amount on the Effective Date.

  • When all such Allowed amounts owing to Professionals have been paid in full, any remaining amount in the Professional Fee Escrow Account shall promptly be paid to the Reorganized Debtors without any further action or order of the Court.

  • The amount of Allowed Professional Fee Claims owing to the Professionals shall be paid in Cash to such Professionals from funds held in the Professional Fee Escrow when such Claims are Allowed by order of the Bankruptcy Court.

  • Professional Fee Escrow Account An interest-bearing account in an amount equal to the total estimated amount of Professional Fee Claims and funded by the Debtors on the Effective Date.