Common use of Attorneys’ Fees and Costs of Collection Clause in Contracts

Attorneys’ Fees and Costs of Collection. If there is a prevailing party in any lawsuit, reference or arbitration arising out of or relating to this Guaranty or the Guaranteed Obligations, such prevailing party shall be entitled to recover from each other party such sums as the court, referee or arbitrator may adjudge to be reasonable attorneys’ fees in the action, reference or arbitration, in addition to costs and expenses otherwise allowed by law. In all other situations, Guarantor shall pay on demand all attorneys’ fees and all other costs and expenses incurred by Administrative Agent or Lenders in the enforcement of or preservation of Administrative Agent or Lenders’ rights under this Guaranty including all attorneys’ fees and expenses, investigation costs, and all court costs, whether or not suit is filed hereon, or whether at maturity or by acceleration, or whether before or after maturity, or whether in connection with bankruptcy, insolvency or appeal, or whether in connection with the collection and enforcement of this Guaranty against any other Guarantor, if there be more than one. Guarantor agrees to pay interest on any expenses or other sums due to Administrative Agent or Lenders under this Section 10 that are not paid when due, at a rate per annum equal to the interest rate provided for in the Note. Guarantor’s obligations and liabilities under this Section 10 shall survive any payment or discharge in full of the Guaranteed Obligations.

Appears in 2 contracts

Samples: Guaranty Agreement (Prospect Acquisition Corp), Guaranty Agreement (Prospect Acquisition Corp)

AutoNDA by SimpleDocs

Attorneys’ Fees and Costs of Collection. If there is a prevailing party in any lawsuit, reference or arbitration arising out of or relating to this Guaranty or the Guaranteed Obligations, such prevailing party shall be entitled to recover from each other party such sums as the court, referee or arbitrator may adjudge to be reasonable attorneys’ fees in the action, reference or arbitration, in addition to costs and expenses otherwise allowed by lawbylaw. In all other situations, Guarantor shall pay on demand all attorneys’ fees and all other costs and expenses incurred by Administrative Agent or Lenders in the enforcement of or preservation of Administrative Agent or Lenders’ rights under this Guaranty including all attorneys’ fees and expenses, investigation costs, and all court costs, whether or not suit is filed hereon, or whether at maturity or by acceleration, or whether before or after maturity, or whether in connection with bankruptcy, insolvency or appeal, or whether in connection with the collection and enforcement of this Guaranty against any other Guarantor, if there be more than one. Guarantor agrees to pay interest on any expenses or other sums due to Administrative Agent or Lenders under this Section 10 that are not paid when due, at a rate per annum equal to the interest rate provided for in the Note. Guarantor’s obligations and liabilities under this Section 10 shall survive any payment or discharge in full of the Guaranteed Obligations.

Appears in 1 contract

Samples: Guaranty Agreement (Prospect Acquisition Corp)

AutoNDA by SimpleDocs

Attorneys’ Fees and Costs of Collection. If there is a prevailing party in any lawsuit, reference or arbitration arising out of or relating to this Guaranty or the Guaranteed Obligations, such prevailing party shall be entitled to recover from each other party such sums as the court, referee or arbitrator may adjudge to be reasonable attorneys’ fees in the action, reference or arbitration, in addition to costs and expenses otherwise allowed by law. In all other situations, The Guarantor shall pay on demand all reasonable attorneys’ fees and all other costs and expenses actually incurred by the Administrative Agent or Lenders Agent’s and the Lenders’ in the enforcement of or preservation of the Administrative Agent Agent’s or the Lenders’ rights under this Guaranty including including, without limitation, all attorneys’ fees and expenses, investigation costs, costs and all court costs, whether or not suit is filed hereon, or whether at maturity or by acceleration, or whether before or after maturity, or whether in connection with bankruptcy, insolvency or appeal, or whether in connection with the collection and enforcement of this Guaranty against any other Guarantor, if there be more than oneone (1). The Guarantor agrees to pay interest on any expenses or other sums due to the Administrative Agent or and the Lenders under this Section 10 12 that are not paid when due, at a rate per annum equal to the interest rate provided for in the NoteDefault Rate. The Guarantor’s obligations and liabilities under this Section 10 12 shall survive any payment or discharge in full of the Guaranteed Obligations. All such costs and expenses incurred by the Administrative Agent and the Lenders shall constitute a portion of the Guaranteed Obligations hereunder, shall be subject to the provisions hereof with respect to the Guaranteed Obligations and shall be payable by the Guarantor on demand by the Administrative Agent.

Appears in 1 contract

Samples: Guaranty Agreement (Grubb & Ellis Healthcare REIT II, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.