Professional Fee Contribution definition
Examples of Professional Fee Contribution in a sentence
Subject to the satisfaction of all conditions precedent in Article 6 of this Proposal, on the Implementation Date the Investor shall deliver to the Trustee, in accordance with wire transfer instructions provided by the Trustee at least three (3) Business Days prior to the Implementation Date, $500,000 in cash (the "Professional Fee Contribution") which is to be contributed by the Investor to the Professional Fee Pool for payment of the Administrative Fees and Expenses.
Subject to the satisfaction ofall conditions precedent in Article 6 ofthis Proposal, the Trustee shall distribute the Professional Fee Contribution in accordance with Article 9 of this Proposal.
On the Implementation Date, in order to provide for the payment of the Administrative Fees and Expenses, the Trustee shall make distributions using the Professional Fee Contribution of the Professional Fee Pool, in priority to all claims of Unsecured Creditors.
Ifthe Professional Fee Contribution is greater than the total amount of the Administrative Fees and Expenses, any surplus amount that would remain in the Professional Fee Pool after payment of all Administrative Fees and Expenses (the "Professional Fee Surplus") will be transferred, or otherwise contributed, by the Trustee to the Investment Pool Cash Account (as defined below).