Expense Deposit. Client shall deposit in advance with Optima a deposit of $1,900.00 (the "Expense Deposit"). In the event of any default by Client hereunder, Optima may, cumulative to all other remedies found at law or in equity, apply or retain all or any part of the Expense Deposit to cure such default or to reimburse Optima for any damages, losses, claims or expenses Optima may have incurred by reason of the default. If at the end of the Term Client shall not be in default under this Agreement, the Expense Deposit, or any balance thereof, shall be returned to Client without interest. The Expense Deposit is not to be considered the final payment due under this Agreement.
Expense Deposit. At Closing, the Fee shall be applied to the costs to be paid by Sellers as contemplated by Section 6 and the balance, if any, shall be refunded to Sellers. In the event the transaction set forth in this Agreement fails to close, the Fee shall be applied as contemplated by the Commitment.
Expense Deposit. The Administrative Agent shall have received a deposit in an amount equal to Two Hundred Fifty Thousand Dollars ($250,000) to be applied by the Administrative Agent to the payment of fees, costs and expenses payable to the Administrative Agent under Section 11.3 of the Credit Agreement following the Second Amendment Effective Date, including, without limitation, all fees, costs and expenses of the Administrative Agent (including, without limitation, the reasonable fees and out-of-pocket expenses of counsel for the Administrative Agent).
Expense Deposit. If at any time Borrowing Availability (as defined in the Working Capital Credit Agreement) shall be less than $20,000,000 as determined by Lender, Borrower shall pay to Lender, for deposit into an account designated by Lender, the sum of $25,000, to be held as security for the Obligations (the "Expense Deposit"). Lender may in its discretion charge such account for application towards any costs, expenses or fees payable by Borrower or any Guarantor to Lender under this Agreement or the other Loan Documents. In no event shall prior recourse to the Expense Deposit be a prerequisite to the Lender's right to demand reimbursement for any such costs, expenses or fees. To the extent that such account is charged and so long as Borrowing Availability (as defined in the Working Capital Credit Agreement) is less than $11,000,000, Borrower shall deposit with Lender upon demand by Lender the amount so charged so that the account contains an Expense Deposit of not less than $25,000 at all times. The Expense Deposit may be commingled with other funds of the Lender, and neither Borrower nor any Guarantor will be entitled to receive interest on the Expense Deposit. The unused portion of the Expense Deposit shall be returned to Borrower upon the indefeasible payment in full in cash of all of the Obligations.
Expense Deposit. An expense deposit (the "Expense Deposit") in an amount set forth on Exhibit A hereto to be held by Lender in a non-interest bearing account, which shall be applied to out-of-pocket expenses incurred by Lender on behalf of Borrower, including but not limited to appraisals, market studies, legal fees, and environmental and engineering reports, as more specifically set forth in Section II.I below, as well as travel expenses and other direct office expenses of Lender. In the event that this Application is not approved by Lender, that Borrower withdraws its application or defaults under the Commitment, or in the event the Construction Loan is closed, the Expense Deposit, less expenses incurred by Lender in connection with the Construction Loan, shall be returned to Borrower or credited to Borrower at the closing of the Construction Loan. Similarly, Borrower shall reimburse Lender for any such expenses incurred by Lender in excess of the Expense Deposit.
Expense Deposit. Borrower and Foothill acknowledge that Borrower previously has paid to Foothill the sum of $20,000 (the "Expense Deposit") as a --------------- deposit against the Foothill Expenses that may be incurred by Foothill. This Expense Deposit will be applied by Foothill to Foothill Expenses as and when they are incurred. If Foothill concludes for any reason, that it will not make the financing detailed herein available to Borrower, it will return the unused balance of the Expense Deposit. As an illustration, the amount to be deducted from the Expense Deposit may include costs and expenses incurred by auditors and appraisers and in verifying Borrower's records, Foothill's legal expenses in connection with advice concerning the subject financing or with the preparation of the Loan Documents, and any filing and search fees. If, on the other hand, Foothill continues to be prepared to extend the credit detailed herein to Borrower and Borrower declines for any reason, to accept such financial accommodations from Foothill, Foothill shall be entitled to retain the full amount of the Expense Deposit, irrespective of the amount of the Foothill Expenses incurred. Foothill's retention of the balance of the Expense Deposit results from its reasonable endeavor to estimate the added administrative costs incurred and the amount of damage sustained by Foothill as a result of Borrower's decision to decline to proceed with the financing. If the financing is funded, the Expense Deposit will be returned to Borrower after deducting all Foothill Expenses actually incurred by Foothill. Foothill shall not be obligated to segregate the Expense Deposit from its other funds and Borrower is not entitled to receive interest on any portion of the Expense Deposit.
Expense Deposit. The Fee previously paid to Buyer was deemed fully earned upon Buyer's receipt and is not refundable except as otherwise provided below. In the event the transaction set forth in this Agreement fails to close due to a breach or default by Seller under this Agreement, Buyer shall retain the Fee (without affecting or limiting Buyer's remedies set forth in this Agreement). In the event the transaction set forth in this Agreement fails to close due to a breach or default by Buyer under this Agreement, Buyer shall return the Fee to Seller. In the event the transaction set forth in this Agreement fails to close for any reason other than a breach or default by either party hereto, the Fee, less Buyer's reasonable expenses incurred in connection with this transaction, including, but not limited to, attorneys fees, Lender's expenses and due diligence expenses, shall be returned to Seller.
Expense Deposit. The Borrower has already provided the Lender with an expense deposit of USD 40,000.00, from which all amounts due under this Clause 15 (Costs and Expenses) will be deducted. The Borrower shall only make payments under this Clause 15 (Costs and Expenses) once the expense deposit has been fully used up and to the extent the amount due has not been deducted from the expense deposit.
Expense Deposit. On or prior to the date hereof, Seller has paid $50,000 to Purchaser to defray, in part, the out-of-pocked due diligence costs to be incurred by Purchaser in connection with the transactions contemplated hereby. The expense deposit is non-refundable.
Expense Deposit. The Fee previously paid to Buyer was deemed fully earned upon Buyer's receipt and is not refundable. In the event the transaction set forth in this Agreement fails to close due to a breach or default by either of the Seller Entities under this Agreement, Buyer shall retain the Fee (without affecting or limiting Buyer's remedies set forth in this Agreement).
