Advances and Reimbursements Clause Samples
The "Advances and Reimbursements" clause outlines the terms under which one party may provide funds in advance or be reimbursed for expenses incurred on behalf of the other party. Typically, this clause specifies the types of expenses eligible for reimbursement, the process for requesting advances, and the documentation required to support reimbursement claims, such as receipts or invoices. Its core practical function is to ensure that parties are fairly compensated for out-of-pocket costs related to the agreement, thereby preventing disputes over payment and clarifying financial responsibilities.
Advances and Reimbursements. Manager shall not be required to make any advance to, or for the account of Owner, or to pay any amount except out of funds held or provided as aforesaid, nor shall Manager be required to incur any extraordinary obligation unless Owner shall furnish Manager with necessary funds for the discharge thereof.
Advances and Reimbursements. If Borrower fails to pay taxes, assessments, insurance premiums or any other charges or expenditures for which Borrower is responsible or liable under the Loan Documents, Agent may, but shall not be required to, advance the amount necessary to make such payments. Each Lender shall, immediately upon demand, reimburse Agent for such Lender’s Commitment Percentage thereof pursuant to Section 1.11. Agent shall use reasonable efforts to recover from Borrower all advances and expenses that are the obligation of Borrower under the Loan Documents, but making such efforts shall not be a precondition to Lenders’ reimbursing Agent promptly.
Advances and Reimbursements. Manager shall not be required to perform any act or duty hereunder involving an expenditure of money unless there shall be sufficient funds therefor in the bank accounts of the Club. If at any time the funds in the bank accounts of the Club are not sufficient to pay Club obligations in a timely manner, Manager, although not obligated to do so, may advance such sums as it deems necessary, and Manager shall thereupon be entitled to reimburse itself from Club funds for the amount of such advances, together with interest at the rate of 10% per year beginning from and after 20 days from the date of the advance by Manager.
Advances and Reimbursements. 12 6.4 Rentals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 6.5 Payment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 6.6 Discounts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 7: GENERAL PROVISIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 7.1 Agency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 7.2 Amendment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 7.3 Arbitration. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 7.4 Assignment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Advances and Reimbursements. In addition to the Management Fee, Manager shall be paid or reimbursed from the bank accounts of the Association an amount equal to all out-of-pocket expenses incurred by Manager in connection with this Agreement and/or the performance of the duties or obligations provided for herein. Manager shall not be required to perform any act or duty hereunder involving an expenditure of money unless there shall be sufficient funds therefor in the bank accounts of the Association. If at any time the funds in the bank accounts of the Association are not sufficient to pay the obligations, expenses and all charges incident to this Agreement, Association shall make available such funds. Manager, although not obligated to do so, may advance such sums as it deems necessary, and in such event, Manager shall be entitled to reimburse itself from Association funds for the amount of such advances, together with interest at the rate of fifteen percent (15%) per annum, or such lesser rate as allowed under the usury laws of Louisiana, commencing from the date of the advance by Manager.
Advances and Reimbursements. If Borrower fails to pay Taxes, assessments, insurance premiums or any other charges or expenditures for which Borrower is responsible or liable under the Loan Documents, Agent may, but shall not be obligated to, advance the amount necessary to make such payments. To the extent that Borrower for any reason fails to indefeasibly pay any such amounts, each Bank severally agrees to pay to Agent, such Bank’s pro rata share (determined as of the time that the applicable unreimbursed amount is sought) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Bank).
Advances and Reimbursements. Manager shall not be required to perform any act or duty hereunder involving an expenditure of money unless there shall be sufficient funds for such expenditure in the deposit accounts of the Trust. If at any time the funds in the bank accounts of the Trust are not sufficient to pay the Trust obligations in a timely manner, Manager, although not obligated to do so, may advance such sums as it deems necessary, and Manager shall thereupon be entitled to reimburse itself from Trust funds for the amount of such advances, together with interest at the rate of 10.00% per year beginning from and after 20 days from the date of the advance by Manager.
Advances and Reimbursements. The Company shall promptly make advances or reimbursements for reasonable expenses (including attorneys’ fees) incurred by any Person claiming indemnification under this Article 11, unless it has been determined that such Person is not entitled to indemnification because of a failure to meet the standards set forth in this Article 11. Such advances or reimbursements shall be conditioned upon receipt from the Person claiming indemnification of a written undertaking to repay the amount of such advances or reimbursements if it is ultimately determined that such Person is not entitled to indemnification.