Common use of Administrative Fees and Charges Clause in Contracts

Administrative Fees and Charges. (i) Borrower shall pay to Agent, for its own account and not for the benefit of any other Lenders, all reasonable fees and expenses in connection with audits and inspections of the books and records of the Credit Parties, audits, valuations or appraisals of the Collateral, audits of the Credit Parties’ compliance with applicable Laws and such other matters as Agent shall deem appropriate, which shall be due and payable on the first (1st) Business Day of the month following the date of issuance by Agent of a written request for payment thereof to any Borrower; provided that, as long as no Default has occurred and is continuing, Agent shall be entitled to such reimbursement for no more than one (1) audit and inspection per calendar year.

Appears in 1 contract

Samples: Credit and Security Agreement (Recursion Pharmaceuticals, Inc.)

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Administrative Fees and Charges. (i) Borrower shall pay to Agent, for its own account and not for the benefit of any other Lenders, all reasonable fees and expenses in connection with audits and inspections of the books and records of the Credit Parties, audits, valuations or appraisals of the Collateral, audits of the Credit Parties’ Borrower’s compliance with applicable Laws and such other matters as Agent shall deem appropriate, which shall be due and payable on the first (1st) Business Day of the month following the date of issuance by Agent of a written request for payment thereof to any Borrower; provided that, as long as no Event of Default has occurred and is continuing, Agent shall be entitled to such reimbursement for no more than one (1) audit and inspection per calendar yearFiscal Year.

Appears in 1 contract

Samples: Credit, Guaranty and Security Agreement (Midatech Pharma PLC)

Administrative Fees and Charges. (i) Borrower shall pay to Agent, for its own account and not for the benefit of any other Lenders, all reasonable fees and expenses in connection with audits and inspections of the books and records of the Credit Parties, audits, valuations or appraisals of the Collateral, audits of the Credit Parties’ Borrower’s compliance with applicable Laws and such other matters as Agent shall deem appropriate, which shall be due and payable on the first (1st) Business Day of the month following the date of issuance by Agent of a written request for payment thereof to any Borrower; provided provided, that, as long as no Event of Default has occurred and is then continuing, Agent shall be entitled to such reimbursement for no more than one (1) audit two audits and inspection inspections per calendar year.

Appears in 1 contract

Samples: Credit and Security Agreement (Flexion Therapeutics Inc)

Administrative Fees and Charges. (i) Borrower shall pay to Agent, for its own account and not for the benefit of any other Lenders, all reasonable fees and out-of-pocket expenses in connection with audits and inspections of the books and records of the Credit Parties, audits, valuations or appraisals of the Collateral, audits of the Credit Parties’ Borrower’s compliance with applicable Laws and such other matters as Agent shall deem reasonably appropriate, which shall be due and payable on the first (1st) Business Day of the month following the date of issuance by Agent of a written request for payment thereof to any Borrower; provided provided, that, as long as no Default has occurred and is continuingwithin the preceding twelve (12) months, Agent shall be entitled to such reimbursement for no more than one (1) audit and inspection and appraisal per calendar year.

Appears in 1 contract

Samples: Credit and Security Agreement (Sancilio Pharmaceuticals Company, Inc.)

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Administrative Fees and Charges. (i) Borrower shall pay to Agent, for its own account and not for the benefit of any other Lenders, all reasonable fees and expenses in connection with audits and inspections of the books and records of the Credit Parties, audits, valuations or appraisals of the Collateral, audits of the Credit Parties’ Borrower’s compliance with applicable Laws and such other matters as Agent shall deem reasonably appropriate, which shall be due and payable on the first (1st) Business Day of the month following the date of issuance by Agent of a written request for payment thereof to any Borrower; provided that, as long as no Event of Default has occurred and is continuingwithin the preceding twelve (12) months, Agent shall be entitled to such reimbursement for no more than one (1) audit and inspection per calendar year.

Appears in 1 contract

Samples: Credit, Guaranty and Security Agreement (Gossamer Bio, Inc.)

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