Common use of INITIAL AND CONTINUING COSTS AND EXPENSES Clause in Contracts

INITIAL AND CONTINUING COSTS AND EXPENSES. Ideal shall (or shall procure that an Obligor shall), from time to time on demand of the Agent, reimburse the Agent for all costs and expenses (including, without limitation, legal fees) together with VAT thereon incurred by it in connection with the negotiation, preparation, execution and administration of each of the Finance Documents and the completion of the transactions contemplated therein and/or any amendment, variation or novation of, supplement to, or waiver or consent in respect of, any of the Finance Documents, the cost of any appraisals, inspections, verifications and audits of the Collateral or Group's operation the costs and expenses of forwarding loan proceeds, of the collection of all cheques and other items of payment, of the establishment and maintenance of any Receivables Account or other account and the costs and expenses of defending any claims made or threatened against the Agent arising out of the transactions contemplated hereby.