Common use of Payment and Expenses Clause in Contracts

Payment and Expenses. If (i) the Trust shall fail to tender the Notes for delivery to the Underwriter for any reason not permitted under this Underwriting Agreement or (ii) the Underwriter shall decline to purchase the Notes for any reason permitted under this Underwriting Agreement, the Trust Depositor shall reimburse the Underwriter for the fees and expenses of its counsel and for such other out-of-pocket expenses as shall have been reasonably incurred by them in connection with this Underwriting Agreement and the proposed purchase of the Notes, and upon demand the Trust Depositor shall pay the full amount thereof to the Underwriter.

Payment and Expenses. If (i) the Trust Issuer shall fail to tender the Notes for delivery to the Underwriter for any reason not permitted under this Underwriting Agreement or (ii) the Underwriter shall decline to purchase the Notes for any reason permitted under this Underwriting Agreement, the Trust Depositor Issuer shall reimburse the Underwriter for the fees and expenses of its counsel and for such other out-of-pocket expenses as shall have been reasonably incurred by them in connection with this Underwriting Agreement and the proposed purchase of the Notes, and upon demand the Trust Depositor Issuer shall pay the full amount thereof to the Underwriter.