Liquidation Expense definition

Liquidation Expense means expense that the Plan Administrator and/or the Committee shall incur to liquidate Debtors' assets, including but not limited to, the fees and expenses of Professionals and the fees required to be paid to the Office of the U.S. Trustee pursuant to Section 1930 of Title 28 of the United States Code.
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Liquidation Expense means any out-of-pocket expense (exclusive of any ------------------- overhead expense) which is incurred by the Servicer in connection with the liquidation of any Defaulted Loan, including, without limitation, legal fees and expenses, and any related and unreimbursed expenditures for pursuing claims in bankruptcy proceedings of the related Obligor, property taxes, property preservation or restoration of the property to marketable condition.
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Examples of Liquidation Expense in a sentence

  • To the extent that the amount of any such Liquidation Expense is determined by the Company based on estimated costs, and the actual costs are subsequently determined to be higher, the Company may withdraw the additional amount from the Collateral Fund.

  • To the extent that the amount of any such Liquidation Expense is determined by the Company based on estimated costs, and the actual costs are subsequently determined to be higher, the Company or the Trustee may withdraw the additional amount from the Collateral Fund to reimburse the Company.

  • The Servicer shall expend funds in connection with the repossession and recovery or sale or other disposition of any Leased Vehicle (and such expense shall be deemed a Liquidation Expense) only to the extent that it reasonably determines that anticipated Liquidation Expenses will not exceed anticipated Liquidation Proceeds.

  • To the extent that the amount of any such Liquidation Expense is determined by the Depositor based on estimated costs, and the actual costs are subsequently determined to be higher, the Depositor may withdraw the additional amount from the Collateral Fund.

  • The Servicer shall expend funds in connection with the repossession, recovery or sale of any Leased Vehicle (and such expense shall be deemed a Liquidation Expense) only to the extent that it reasonably determines that anticipated Liquidation Expenses will not exceed anticipated Liquidation Proceeds.

  • Any Liquidation Expense previously incurred by the Servicer that is determined by the Servicer to have become a Non-Recoverable Liquidation Expense shall be reported on the related Monthly Report.

  • The Servicer will follow the practices and procedures set forth in the Credit and Collection Policy in order to realize upon such Related Property; provided, that the Servicer shall not be required to pay or incur any Liquidation Expense in connection with the realization of such Related Property unless, in the reasonable opinion of the Servicer, such Liquidation Expenses will be recoverable by the Servicer from the proceeds of sale or other disposition of such Related Property or otherwise.

  • The Servicer shall expend funds in connection with the repossession and recovery or sale or other disposition of any Vehicle (and such expense shall be deemed a Liquidation Expense) only to the extent that it reasonably determines that anticipated Liquidation Expenses will not exceed anticipated Liquidation Proceeds.

  • Notwithstanding any other provision of this Agreement, the Master Servicer shall not pay any Liquidation Expense that it determines in its reasonable judgment would be, if paid, a Nonrecoverable Advance.

  • To the extent that the amount of any such Liquidation Expense is determined by the LHMC based on estimated costs, and the actual costs are subsequently determined to be higher, the LHMC may withdraw the additional amount from the Collateral Fund.