Common use of Subsequent Fees and Expenses Clause in Contracts

Subsequent Fees and Expenses. The Borrower shall promptly reimburse the Bank (after the Borrower’s receipt of the Bank’s request for reimbursement) for all reasonable amounts expended, advanced or incurred by the Bank necessary to protect the Bank’s interest, together with interest thereon as provided in this Section 6.15 (i) to satisfy any of the Obligations, (ii) to protect or enforce the Bank’s rights under any of the Loan Documents, (iii) to amend any of the Loan Documents, or (iv) to protect the Collateral or business of the Borrower; provided, however, if an uncured Event of Default does not exist, the Bank must obtain the Borrower’s contemporaneous written consent prior to making any such expenditure or Advance, or incurring such reimbursable amount. The amount so reimbursable pursuant to this Section 6.15 shall bear interest at the per annum interest rate equal to the Index Rate, calculated on a basis of a calendar year of 360 days, but counting the actual number of days elapsed, on each such amount from the date of notification that the same was expended, advanced or incurred by the Bank until the date that it is repaid to the Bank, with the obligations under this Section 6.15 surviving the non-assumption of this Agreement in a case commenced under any Insolvency Proceeding and being binding upon the Borrower and/or a trustee, receiver, custodian or liquidator of the Borrower appointed in any such case.

Appears in 2 contracts

Samples: Loan Agreement (Windsor Energy Resources, Inc.), Loan Agreement (Windsor Energy Resources, Inc.)

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Subsequent Fees and Expenses. The Borrower shall promptly reimburse ---------------------------- the Bank Lender (after the Borrower’s 's receipt of the Bank’s Lender's request for reimbursement) for all reasonable amounts reasonably expended, advanced or incurred by the Bank necessary to protect the Bank’s interestLender, together with interest thereon as provided in this Section 6.15 (i) to ------------ satisfy any of the Obligations, (ii) to protect or enforce the Bank’s Lender's rights under any of the Loan Documents, or (iii) to amend any of the Loan Documents, or (iv) to protect the Collateral or business of the Borrower; provided, however, if an uncured Event of Default does not ----------------- exist, the Bank Lender must obtain the Borrower’s 's contemporaneous written consent prior to making any such expenditure or Advance, or incurring such reimbursable amount. The amount so reimbursable pursuant to this Section 6.15 shall bear ------------ interest at the per annum interest rate equal to the Index Base Rate, calculated on a basis of a calendar year of 360 days, but counting the actual number of days elapsed, on each such amount from the date of notification that the same was expended, advanced or incurred by the Bank Lender until the date that it is repaid to the BankLender, with the obligations under this Section 6.15 surviving the non-non- ------------ assumption of this Agreement in a case commenced under any Insolvency Proceeding and being binding upon the Borrower and/or a trustee, receiver, custodian or liquidator of the Borrower appointed in any such case.

Appears in 1 contract

Samples: Credit Agreement (Canaan Energy Corp)

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Subsequent Fees and Expenses. The Borrower shall promptly Promptly reimburse the Bank Lender (after the Borrower’s Borrowers' receipt of the Bank’s Lender's request for reimbursement) for all reasonable amounts reasonably expended, advanced or incurred by the Bank necessary to protect the Bank’s interestLender, together with interest thereon as provided in this Section 6.15 Subsection 6.17 (i) to satisfy any of the Obligations, (ii) to protect or enforce the Bank’s Lender's rights under any of the Loan Documents, Documents or (iii) to amend any of the Loan Documents, or (iv) to protect the Collateral or business of the Borrower; provided, however, if an uncured Event of Default does not exist, the Bank must obtain the Borrower’s contemporaneous written consent prior to making any such expenditure or Advance, or incurring such reimbursable amountBorrowers. The amount so reimbursable pursuant to this Section 6.15 Subsection 6.17 shall bear interest at the per annum interest rate equal to the Index RateBase Rate plus one-half of one percent, calculated on a basis of a calendar year of 360 days, but counting the actual number of days elapsed, on each such amount from the date of notification that the same was expended, advanced or incurred by the Bank Lender until the date that it is repaid to the BankLender, with the obligations under this Section 6.15 Subsection 6.17 surviving the non-assumption of this Agreement in a case commenced under any Insolvency Proceeding and being binding upon the Borrower Borrowers and/or a trustee, receiver, custodian or liquidator of the Borrower Borrowers appointed in any such case.

Appears in 1 contract

Samples: Credit Agreement (GMX Resources Inc)

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