Additional Expenses Covered Sample Clauses
The 'Additional Expenses Covered' clause defines which extra costs, beyond standard coverage, an insurer will pay for under a policy. This may include expenses such as temporary relocation, emergency repairs, or increased operational costs incurred as a result of a covered event. By specifying these additional expenses, the clause ensures that policyholders are protected against unforeseen financial burdens that arise due to insured incidents, thereby providing more comprehensive coverage and reducing out-of-pocket costs.
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Additional Expenses Covered. Expenses being reimbursed by Borrower under this Section 10.6 include, without limitation, the cost and expense of obtaining an appraisal of each parcel of real property or interest in real property described in the Mortgages following a Default or Unmatured Default or a Default or Unmatured Default occurs or is discovered during such appraisal, which appraisal shall be in conformity with the applicable requirements of any law or any governmental rule, regulation, policy, guideline or directive (whether or not having the force of law), or any interpretation thereof, including, without limitation, the provisions of Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as amended, reformed or otherwise modified from time to time, and any rules promulgated to implement such provisions and costs and expenses incurred in connection with the Reports described in the following sentence. Borrower acknowledges that from time to time Agent may prepare and may distribute to Lenders (but shall have no obligation or duty to prepare or to distribute to Lenders) certain audit reports (the “Reports”) pertaining to Borrower’s assets for internal use by Agent from information furnished to it by or on behalf of Borrower, after Agent has exercised its rights of inspection pursuant to this Agreement.