Common use of Audit Fees Clause in Contracts

Audit Fees. The Borrower hereby agrees to pay the Lender, on demand, audit fees of $87.50 per hour (or Lender's then applicable rate) per auditor in connection with any audits or inspections by the Lender of any collateral or the operations or business of the Borrower, together with all actual out-of-pocket costs and expenses incurred in conducting any such audit or inspection (collectively, "Out-of-Pockets"). So long as there is not any then existing Event of Default or Default Period, such audit fees shall not exceed $5,000.00 per audit plus all applicable Out-of-Pockets and audits shall be performed not more frequently than four times per annum. The Lender shall send to the Borrower an invoice applicable to such audit fees, out-of-pocket costs and expenses, provided, however, any failure of the Lender to send such invoices shall not relieve the Borrower of its obligations under this Section 2.9(d).

Audit Fees. The Borrower hereby agrees to pay the Lender, on demand, audit fees of $87.50 60.00 per hour (or Lender's then applicable rate) per auditor in connection with any audits or inspections by the Lender of any collateral or the operations or business of the Borrower, together with all actual out-of-pocket costs and expenses incurred in conducting any such audit or inspection (collectively, "Out-of-Pockets"). So long as there is not any then existing Event of Default or Default Period, such audit fees shall not exceed $5,000.00 per audit plus all applicable Out-of-Pockets and audits shall be performed not more frequently than four times per annumquarterly. The Lender shall send to the Borrower an invoice applicable to such audit fees, out-of-pocket costs and expenses, provided, however, any failure of the Lender to send such invoices shall not relieve the Borrower of its obligations under this Section 2.9(d).

Audit Fees. The Borrower hereby agrees to pay the Lender, on demand, audit fees of $87.50 60.00 per hour (or Lender's then applicable rate) per auditor in connection with any audits or inspections by the Lender of any collateral or the operations or business of the Borrower, together with all actual out-of-pocket costs and expenses incurred in conducting any such audit or inspection (collectively, "Out-of-Pockets"). So long as there is not any then existing Event of Default or Default Period, such audit fees shall not exceed $5,000.00 2,500.00 per audit plus all applicable Out-of-Pockets and audits shall be performed not more frequently than four times per annumquarterly. The Lender shall send to the Borrower an invoice applicable to such audit fees, out-of-pocket costs and expenses, provided, however, any failure of the Lender to send such invoices shall not relieve the Borrower of its obligations under this Section 2.9(d).

Audit Fees. The Borrower hereby agrees to pay the Lender, on demand, audit fees of $87.50 75.00 per hour (or Lender's then applicable rate) per auditor in connection with any audits or inspections by the Lender of any collateral or the operations or business of the Borrower, together with all actual out-of-pocket costs and expenses incurred in conducting any such audit or inspection (collectively, "Out-of-Pockets"). So long as there is not any then existing Event of Default or Default Period, such audit fees shall not exceed $5,000.00 per audit plus all applicable Out-of-Pockets and audits shall be performed not more frequently than four three times per annum. The Lender shall send to the Borrower an invoice applicable to such audit fees, out-of-pocket costs and expenses, provided, however, any failure of the Lender to send such invoices shall not relieve the Borrower of its obligations under this Section 2.9(d). (h) There is hereby added new subsections (e) and (f) to Section 2.9 of the Credit Agreement which provides as follows:

Audit Fees. The Borrower hereby agrees to pay the Lender, on demand, audit fees of $87.50 75.00 per hour (or Lender's then applicable rate) per auditor in connection with any audits or inspections by the Lender of any collateral or the operations or business of the Borrower, together with all actual out-of-pocket costs and expenses incurred in conducting any such audit or inspection (collectively, "Out-of-Pockets"). So long as there is not any then existing Event of Default or Default Period, such audit fees shall not exceed $5,000.00 2,500.00 per audit plus all applicable Out-of-Pockets and audits shall be performed not more frequently than four three times per annum. The Lender shall send to the Borrower an invoice applicable to such audit fees, out-of-pocket costs and expenses, provided, however, any failure of the Lender to send such invoices shall not relieve the Borrower of its obligations under this Section 2.9(d).

Audit Fees. The Borrower hereby agrees to pay the Lender, on demand, audit fees of $87.50 75.00 per hour (or Lender's then applicable rate) per auditor in connection with any audits or inspections by the Lender of any collateral or the operations or business of the Borrower, together with all actual out-of-pocket costs and expenses incurred in conducting any such audit or inspection (collectively, "Out-of-Pockets"). So long as there is not any then existing Event of Default or Default Period, such audit fees shall not exceed $5,000.00 2,500.00 per audit plus all applicable Out-of-Pockets and audits shall be performed not more frequently than four times per annum. The Lender shall send to the Borrower an invoice applicable to such audit fees, out-of-pocket costs and expenses, provided, however, any failure of the Lender to send such invoices shall not relieve the Borrower of its obligations under this Section 2.9(d). (e) Sections 2.13(a) and 2.13(b) of the Credit Agreement are hereby deleted and replaced as follows:

Audit Fees. The Borrower hereby agrees to pay the Lender, on demand, audit fees of $87.50 75.00 per hour (or Lender's then applicable rate) per auditor in connection with any audits or inspections by the Lender of any collateral or the operations or business of the Borrower, together with all actual out-of-pocket costs and expenses incurred in conducting any such audit or inspection (collectively, "Out-of-Pockets"). So long as there is not any then existing Event of Default or Default Period, such audit fees shall not exceed $5,000.00 per audit plus all applicable Out-of-Pockets and audits shall be performed not more frequently than four times per annum. The Lender shall send to the Borrower an invoice applicable to such audit fees, out-of-pocket costs and expenses, provided, however, any failure of the Lender to send such invoices shall not relieve the Borrower of its obligations under this Section 2.9(d).