Borrower’s Liability for Expenditures and Advances Sample Clauses

Borrower’s Liability for Expenditures and Advances. Borrower shall pay Lender for all costs, charges, expenses, and reasonable attorneys’ fees paid or incurred by Lender in connection with such default by Borrower. A statement of such costs, charges, expenses, and fees, verified by the affidavit of an officer of Lender, shall be conclusive of the amounts so expended and of the propriety or the necessity for such expenditure. Lender shall have the right to apply any funds held by Lender toward all costs, charges, expenses and legal fees incurred incident thereto. Any costs, charges, expenses and fees incurred by Lender in excess of available Loan proceeds shall earn interest at the Default Rate from and after the date incurred by Lender. Borrower agrees that any and all expenditures incurred shall be deemed to have been advanced by Lender to Borrower, and that all such sums shall be deemed a portion of the Loan and shall be secured by the lien of the Mortgage and the other Loan Documents. Any judgment obtained by Lender against Borrower as to any amounts due under the Note, the Mortgage, or this Agreement shall also bear interest at the Default Rate.
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Borrower’s Liability for Expenditures and Advances. If Lender ----------------------------------------------------- undertakes any of its rights in subparagraph 7.2.4, Borrower agrees that (a) Lender may continue to make advances of the Loan that need not be in accordance with this Agreement in such manner and for such purposes as Lender deems advisable; and (b) Lender may make additional future advances (the "Additional Future Advances") in such manner and for such purposes as Lender'-deems advisable. The Additional Future Advances shall bear interest at the rate specified in the Note from the date of disbursement, and the Additional Future Advances and interest thereon shall be payable in accordance with the terms of the Note. Borrower agrees that all of the advances made under the provisions of this paragraph shall be deemed to have been advanced by Lender to Borrower and all such advances shall be a portion of the Loan. For the purpose of Lender exercising its rights under subparagraph 7.2.4, Borrower hereby constitutes and appoints Lender its true and lawful attorney-in-fact with full power of substitution and empowers said attorney or attorneys to execute, acknowledge, and deliver any instruments and do and perform any acts such as referred to in subparagraph 7.2.4 in the name and on behalf of Borrower. The powers vested in said attorney-in-fact are coupled with an interest and cannot be revoked. Lender shall indemnify Borrower for damages sustained by Borrower as a result of Lender's gross negligence or willful and wanton misconduct in the conduct of its powers pursuant to this subparagraph.
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Related to Borrower’s Liability for Expenditures and Advances

  • INDEMNIFICATION FOR EXPENSES OF A WITNESS Notwithstanding any other provision of this Agreement except for Section 27, to the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a witness or deponent in any Proceeding to which Indemnitee was or is not a party or threatened to be made a party, Indemnitee shall, to the fullest extent permitted by applicable law, be indemnified, held harmless and exonerated against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith.

  • Indemnification for Expenses as a Witness Notwithstanding any other provision of this Agreement except for Section 26 hereof, to the extent that Indemnitee is, by reason of his Corporate Status, a witness in any Proceeding, he shall be indemnified against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith.

  • Liability for Specific Obligations The Administrator will be liable only for its specific obligations under this Agreement. All other liability is expressly waived and released as a condition of, and consideration for, the execution of this Agreement by the Administrator. The Administrator will be liable for its willful misconduct, bad faith or negligence in performing its obligations under this Agreement.

  • Responsibility for Expenses Lessee shall, at Xxxxxx's sole cost and expense, pay all necessary expenses incident to Xxxxxx's use of the Property.

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