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Case 1:20-bk-12043 Doc 108 Filed 07/27/20 Entered 07/27/20 15.09.40 Desc Main <br /> Document Page 9 of 13 <br /> EVA's services for engagements of this nature in both in- and out-of-court contexts, the Debtors <br /> believe that the Fee and Expense Structure is fair and reasonable and market-based under the <br /> standards set forth in section 328(a) of the Bankruptcy Code. <br /> Modification of Compliance with Requirements Regarding Time Entry Detail <br /> 26. Consistent with its ordinary practice and the practice of sale and financial advisors <br /> in other chapter 11 cases whose fee arrangements are typically not hours-based, EVA does not <br /> ordinarily maintain contemporaneous time records in one-tenth hour increments (similar to those <br /> customarily kept by attorneys) or provide or conform to a schedule of hourly rates for its <br /> professionals. Accordingly, EVA requests that it be excused from such requirements. Instead, <br /> notwithstanding that EVA does not charge for its services on an hourly basis, EVA will maintain <br /> records (in summary format with 0.5 hour increments) of its services rendered for the Debtors, <br /> including descriptions of those services, the time expended in providing those services and the <br /> individuals who provided those services. In addition, EVA will maintain records in support of any <br /> actual, necessary costs and expenses incurred in connection with the rendering of its services in <br /> this case. <br /> Payments to EVA Prior to the Petition Date <br /> 27. Under the terms of EVA's prepetition engagement, the Debtors were required to <br /> pay EVA an initial $100,000 retainer. Other than as set forth herein, EVA did not receive any <br /> payments from the Debtors during the 90 days immediately preceding the Petition Date. <br /> 28. As of the Petition Date, the Debtors did not owe EVA for any fees or expenses <br /> incurred prior to the Petition Date. <br /> 6. The terms and conditions of the Engagement Letter were negotiated by the <br /> Debtors and EVA at arm's length and in good faith. Accordingly, the Debtors request that the <br /> Court approve the Engagement Letter, as modified by the Proposed Order. <br /> 9 <br />