Collateral Agent Expenses Clause Samples
The 'Collateral Agent Expenses' clause defines the responsibility for covering costs and expenses incurred by the collateral agent while performing its duties under the agreement. This typically includes fees for legal counsel, administrative expenses, and any other out-of-pocket costs related to managing, protecting, or enforcing the collateral. By specifying who bears these expenses—often the borrower or obligors—the clause ensures that the collateral agent can act effectively without financial hindrance, thereby facilitating the proper administration and enforcement of the collateral arrangement.
Collateral Agent Expenses. The Obligors shall promptly reimburse the Collateral Agent upon demand for all of the Collateral Agent's reasonable out-of-pocket expenses (including reasonable attorney's fees) incurred in performing its duties under this Section 11. To the extent the Collateral Agent has not been so reimbursed by the Obligors (or arrangements therefor made to the satisfaction of the Collateral Agent), any disbursement to be made by the Collateral Agent pursuant to this Section 11 shall be net of all of the Collateral Agent's reasonable out-of-pocket expenses (including reasonable attorney's fees) incurred in performing its duties under this Section 11.
Collateral Agent Expenses. The Issuer agrees to reimburse, upon demand by the Collateral Agent (and, in any event, within 10 days following receipt of an invoice), all out-of-pocket costs and expenses (including counsel fees and expenses) incurred by the Collateral Agent in connection with the performance of its duties under this Agreement or the Security Documents, any amendments, waivers or releases, realization upon or protection of the Collateral or enforcement or defense of any Lien on the Collateral.
Collateral Agent Expenses. The parties acknowledge that the Credit Agreement includes provisions for a budget to cover expenses related to outsourcing collateral agent work. Such expenses shall be paid by the Borrower in accordance with the terms set forth in the Credit Agreement. The Agent shall have the right to use third-party services for collateral agent work within the limits of this budget without seeking additional approval from the Lenders.
Collateral Agent Expenses. The Debtor/Payor shall pay the Collateral Agent as and when due the fees and expenses set forth on SCHEDULE 1 attached hereto.
Collateral Agent Expenses. 44 Section 14. MISCELLANEOUS..................................................................... 45