Common use of Borrower's Reimbursement Obligation Clause in Contracts

Borrower's Reimbursement Obligation. The expenses of the Lender incurred in connection with actions undertaken as provided in this Section 9, together with interest thereon at a rate per annum equal to the Prime Rate (as defined in the Note) plus 200 basis points from the date of payment by the Lender to the date reimbursed by the Borrower, shall be payable by the Borrower to the Lender on demand.