Common use of Payment of Fees, Costs and Expenses Clause in Contracts

Payment of Fees, Costs and Expenses. Borrower shall reimburse Lender for any and all fees, costs, and expenses, including, without limitation, reasonable attorneys’ fees incurred or paid by Lender or any of its officers, employees, or agents in connection with: (a) the preparation, negotiation, procurement, review, administration, or enforcement of the Loan Documents or any instrument, agreement, document, policy, consent, waiver, subordination, release of lien, termination statement, satisfaction of mortgage, financing statement or other lien search, recording or filing related thereto (or any amendment, modification or extension to, or any replacement or substitution for, any of the foregoing), whether or not any particular portion of the transactions contemplated during such negotiations is ultimately consummated, and (b) the defense, preservation, and protection of Lender’s rights and remedies thereunder, including without limitation, whether incurred in bankruptcy, insolvency, foreclosure, or other litigation or proceedings or otherwise. The costs shall be due and payable upon demand by Lender. At the option of Lender, Lender may withhold the same from the loan proceeds to be delivered to Borrower. If Borrower fails to pay the costs upon such demand, Lender is entitled to disburse such sums as Obligations. Thereafter, the costs shall bear interest from the date incurred or disbursed at the highest rate set forth in the Note(s). This provision shall survive the termination of this Agreement and/or the repayment of any amounts due or the performance of any Obligation.

Appears in 2 contracts

Samples: Business Loan Agreement (GPAQ Acquisition Holdings, Inc.), Business Loan Agreement (Hall of Fame Resort & Entertainment Co)

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Payment of Fees, Costs and Expenses. Borrower shall reimburse Lender for any and all fees, costs, and expenses, including, without limitation, reasonable attorneys’ fees incurred or paid by Lender or any of its officers, employees, or agents in connection with: (a) the preparation, negotiation, procurement, review, administration, or enforcement of the Loan Documents or any instrument, agreement, document, policy, consent, waiver, subordination, release of lien, termination statement, satisfaction of mortgage, financing statement or other lien search, recording or filing related thereto (or any amendment, modification or extension to, or any replacement or substitution for, any of the foregoing), whether or not any particular portion of the transactions contemplated during such negotiations is ultimately consummated, and (b) the defense, preservation, and protection of LenderXxxxxx’s rights and remedies thereunder, including without limitation, whether incurred in bankruptcy, insolvency, foreclosure, or other litigation or proceedings or otherwise. The costs shall be due and payable upon demand by LenderXxxxxx. At the option of Lender, Lender may withhold the same from the loan proceeds to be delivered to Borrower. If Borrower Xxxxxxxx fails to pay the costs upon such demand, Lender Xxxxxx is entitled to disburse such sums as ObligationsIndebtedness. Thereafter, the costs shall bear interest from the date incurred or disbursed at the highest rate set forth in the Note(s)Term Loan Note. This provision shall survive the termination of this Agreement and/or the repayment of any amounts due or the performance of any ObligationIndebtedness.

Appears in 1 contract

Samples: Business Loan Agreement (Hall of Fame Resort & Entertainment Co)

Payment of Fees, Costs and Expenses. Borrower shall reimburse Lender for any and all fees, costs, and expenses, including, without limitation, reasonable attorneys’ fees incurred or paid by Lender or any of its officers, employees, or agents in connection with: (a) the preparation, negotiation, procurement, review, administration, or enforcement of the Loan Documents or any instrument, agreement, document, policy, consent, waiver, subordination, release of lien, termination statement, satisfaction of mortgage, financing statement or other lien search, recording or filing related thereto (or any amendment, modification or extension to, or any replacement or substitution for, any of the foregoing), whether or not any particular portion of the transactions contemplated during such negotiations is ultimately consummated, and (b) the defense, preservation, and protection of Lender’s rights and remedies thereunder, including without limitation, whether incurred in bankruptcy, insolvency, foreclosure, or other litigation or proceedings or otherwise. The costs shall be due and payable upon demand by Lender. At the option of Lender, Lender may withhold the same from the loan proceeds to be delivered to Borrower. If Borrower fails to pay the costs upon such demand, Lender is entitled to disburse such sums as Obligationsobligations. Thereafter, the costs shall bear interest from the date incurred or disbursed at the highest rate set forth in the Note(s). This provision shall survive the termination of this Agreement and/or the repayment of any amounts due or the performance of any Obligationobligation.

Appears in 1 contract

Samples: Loan Agreement (GPAQ Acquisition Holdings, Inc.)

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Payment of Fees, Costs and Expenses. Borrower shall reimburse Lender for any and all fees, costs, and expenses, including, without limitation, reasonable attorneys’ fees incurred or paid by Lender or any of its officers, employees, or agents in connection with: (a) the preparation, negotiation, procurement, review, administration, or enforcement of the Loan Documents or any instrument, agreement, document, policy, consent, waiver, subordination, release of lien, termination statement, satisfaction of mortgage, financing statement or other lien search, recording or filing related thereto (or any amendment, modification or extension to, or any replacement or substitution for, any of the foregoing), whether or not any particular portion of the transactions contemplated during such negotiations is ultimately consummated, and (b) the defense, preservation, and protection of LenderXxxxxx’s rights and remedies thereunder, including without limitation, whether incurred in bankruptcy, insolvency, foreclosure, or other litigation or proceedings or otherwise. The costs shall be due and payable upon demand by LenderXxxxxx. At the option of LenderXxxxxx, Lender may withhold the same from the loan Term Loan proceeds to be delivered to Borrower. If Borrower Xxxxxxxx fails to pay the costs upon such demand, Lender Xxxxxx is entitled to disburse such sums as Obligationsan obligation of Borrower hereunder. Thereafter, the such costs and/or if appliable such disbursed amounts shall bear interest from the date incurred or disbursed at the highest rate set forth in the Note(s)Term Loan Note. This provision shall survive the termination of this Agreement and/or the repayment of any amounts due or the performance of any Obligationof Borrower’s obligations hereunder or under any of the Loan Documents.

Appears in 1 contract

Samples: Business Loan Agreement (Hall of Fame Resort & Entertainment Co)

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