Common use of Document Review and Legal Fees Clause in Contracts

Document Review and Legal Fees. Borrower agrees to pay a document review and legal fee equal to Twelve Thousand Five Hundred and No/100 United States Dollars (US$12,500) which shall be due and payable in full on the Closing Date, or any remaining portion thereof shall be due and payable on the Closing Date if a portion of such fee was paid upon the execution of any term sheet related to this Agreement. Lender acknowledges the receipt of Two Thousand Five Hundred and No/100 United States Dollars (US$2,500) from Borrower of such fee upon the execution of the term sheet. Borrower further agrees, following the Closing Date, to pay a document review and legal fee in connection any and all work of Lender’s counsel which must be performed following the Closing Date, included, but not limited to, any work of Lender’s counsel which must be performed for purposes of drafting, reviewing, revising and filing any and all other documentation necessary or advisable in order to obtain a perfected security interest in the Collateral (as defined in the Security Agreements). Any and all work of Lender’s counsel performed following the Closing Date shall be assessed and billed by Lender’s counsel on an hourly basis. Any amount owed to Lender’s counsel shall be paid by the Lender from amounts held in the Lock-Box Account on behalf of Borrower and Borrower expressly agrees to such payments to Lender’s counsel from the Lock-Box Account.

Document Review and Legal Fees. Borrower agrees to pay a document review and legal fee equal to Twelve Thousand Five Hundred and No/100 United States Dollars (US$12,500) which shall be due and payable in full on the Closing Date, or any remaining portion thereof shall be due and payable on the Closing Date if a portion of such fee was paid upon the execution of any term sheet related to this Agreement. Lender acknowledges the receipt of Two Five Thousand Five Hundred and No/100 United States Dollars (US$2,5005,000) from Borrower of such fee upon the execution of the term sheet. Borrower further agrees, following the Closing Date, to pay a document review and legal fee in connection any and all work of Lender’s counsel which must be performed following the Closing Date, included, but not limited to, any work of Lender’s counsel which must be performed for purposes of drafting, reviewing, revising and filing any and all other documentation necessary or advisable in order to obtain a perfected security interest in the Collateral (as defined in the Security Agreements). Any and all work of Lender’s counsel performed following the Closing Date shall be assessed and billed by Lender’s counsel on an hourly basis. Any amount owed to Lender’s counsel shall be paid by the Lender from amounts held in the Lock-Box Account on behalf of Borrower and Borrower expressly agrees to such payments to Lender’s counsel from the Lock-Box Account.