Post-Termination Carve-Out means the Allowed Professional Fees of the Professionals retained in the Bankruptcy Case by the Borrower in an aggregate amount not to exceed $75,000.00 incurred beginning the first Business Day following the receipt of a Carve-Out Trigger Notice, to the extent allowed at any time, whether by interim order, final order, procedural order, or otherwise.
Examples of Post-Termination Carve-Out in a sentence
The Borrower hereby pledges, assigns and grants to the Agent, for the benefit of itself and as agent for the Lenders, a continuing first priority Lien and security interest (subject only to (i) the Carve-Out, (ii) the Post-Termination Carve-Out, and (iii) the Permitted Liens), in accordance with Section 364(d)(1) of the Bankruptcy Code, in the Collateral (collectively referred to as the "Security Interest"), as security for the payment and performance of the Obligations due hereunder.
The Agent shall have a superpriority administrative expense claim against the Borrower's estate pursuant to Section 364(c) of the Bankruptcy Code for the Obligations, which shall be prior, senior and superior to any other Claim, including any other superpriority administrative expense claim of any kind or nature, subject to the Carve-Out, the Post-Termination Carve-Out, and the Permitted Liens and except as provided herein and/or in the Financing Orders.
As security for the payment and performance of the Obligations, and without limiting any other grant of a Lien and security interest in any Security Document, Borrower hereby assigns and grants to Agent, for the benefit of itself and the Lenders, a continuing first priority Lien on and security interest in, upon, and to the Collateral, subject only to the Pre-Termination Carve-Out or Post-Termination Carve-Out, as applicable.