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.

Related to Liquidation Expense

  • Liquidation Expenses With respect to a Mortgage Loan in liquidation, unreimbursed expenses paid or incurred by or for the account of the Master Servicer or the related Servicers, such expenses including (a) property protection expenses, (b) property sales expenses, (c) foreclosure and sale costs, including court costs and reasonable attorneys’ fees, and (d) similar expenses reasonably paid or incurred in connection with liquidation.

  • Distribution Expenses means the reasonable costs, excluding overhead, incurred by ZIOPHARM that are directly and reasonably allocable to the distribution of a ZIOPHARM Product with respect to a particular country where such ZIOPHARM Product has been launched, excluding any costs included as a deduction in calculating Net Sales.

  • Disposition Expenses means reasonable out-of-pocket expenses incurred by the Servicer in connection with the sale at auction or other disposition of a Leased Vehicle by the Servicer.

  • Litigation Expense means any court filing fee, court cost, arbitration fee, and each other fee and cost of investigating or defending an indemnified claim or asserting any claim for indemnification or defense under this Agreement, including Attorney’s Fees, other professionals’ fees, and disbursements. “Attorney’s Fees” include a charge for the service of in-house counsel at the market rate for independent counsel of similar experience.

  • Common expense means costs incurred by the association to exercise any of the powers provided for in the association's governing documents.