CDE Expenses definition
CDE Expenses. All costs and expenses incurred by, or on behalf of, the Lenders or their respective managing members from time to time on account of, or in connection with, the administration of the Loans and the Loan Documents and/or the operation, oversight and management of the investment and business activities of the Lenders, including, but not limited to: (i) fees for bookkeeping, accounting, and other similar services relating to the affairs of the Lenders (including, without limitation, the annual audit and tax return preparation, the preparation of annual and interim Financial Statements, and the preparation and submission of reports to the Lenders’ respective members, the Investment Fund and/or the CDFI Fund), (ii) any program participation fee that may be charged by the CDFI Fund, (iii) any local, state or federal taxes or other annual filing or reporting fees, charges or expenses (including, without limitation, any income, withholding or gross receipts tax imposed on the Lenders as a result of the Loans), (iv) annual asset management or compliance fees in the amounts reflected in the Projections, (v) any third party fees and expenses incurred outside of the ordinary course of business, such as the exercise of remedies in the case of an Event of Default hereunder.
Examples of CDE Expenses in a sentence
On the date hereof, the Borrower shall establish and fund an interest-bearing fee and expenses reserve account for NCIF Lender for a portion of the interest payments required to be made under its Loan that are intended to be used to pay its CDE Expenses, from the Initial Release, in the amount of $280,000 (such account, the “NCIF CDE Account”).