Factor Expenses definition
Factor Expenses means all (a) costs or expenses (including taxes, and insurance premiums) required to be paid by Midway under this Agreement that are paid, advanced, or incurred by the Factor, (b) fees or charges paid or incurred by the Factor in connection with the Factor’s transactions with Midway relating to this Agreement, including, fees or charges for photocopying, notarization, couriers and messengers, telecommunication, public record searches (including tax lien, litigation, and UCC searches), filing and recording fees, (c) costs and expenses incurred by the Factor in the disbursement of funds to or for the account of Midway (by wire transfer or otherwise), (d) reasonable costs and expenses paid or incurred by the Factor to correct any default or enforce any provision of this Agreement, (e) audit fees and expenses of the Factor related to audit examinations of the Books to the extent of the fees and charges (and up to the amount of any limitation) contained in this Agreement, (f) reasonable costs and expenses of third party claims or any other suit paid or incurred by the Factor in enforcing or defending this Agreement or in connection with the transactions contemplated by this Agreement or the Factor’s relationship with Midway pursuant to this Agreement, (g) the Factor’s reasonable costs and expenses (including court costs and attorneys fees) incurred in advising, structuring, drafting, reviewing, administering or amending this Agreement, and (h) the Factor’s reasonable costs and expenses (including court costs and attorneys, accountants, consultants, and other advisors fees and expenses) incurred in terminating, enforcing (including court costs and attorneys, accountants, consultants, and other advisors fees and expenses incurred in connection with an Insolvency Proceeding concerning Midway or in exercising rights or remedies under this Agreement), or defending this Agreement, irrespective of whether suit is brought, and (i) amounts owed by Midway to the Factor pursuant to the indemnification provisions of Section 11.2.
Examples of Factor Expenses in a sentence
The costs and expenses of one such examination in any calendar year shall constitute Factor Expenses reimbursable by Midway to the Factor.
Midway shall reimburse the Factor for any Factor Expenses which the Factor has incurred and provided a written detailed explanation thereof within thirty (30) days of presentation of such written invoice.