Common use of Cost of Collection and Enforcement Clause in Contracts

Cost of Collection and Enforcement. The El Paso Settling Parties jointly and severally agree to pay to the Designated Representative, within thirty (30) days after written demand is sent to El Paso Corporation by the Designated Representative, upon demand, all actual costs of collection and attempted collection of Consideration, including, without limitation: (a) those expenses incurred or paid to protect, preserve, collect, sell, advertise, locate, take possession of, liquidate or otherwise deal with any Collateral given by the El Paso Pledgors to secure Consideration, (b) expenses of dealing with any person or entity in any bankruptcy proceeding, (c) all expenses incurred by the Settlement Fund for its reasonable attorneys' and paralegal fees, disbursements, and costs, all at such rates and with respect to such services as the Settlement Fund in its sole discretion may elect to pay (as such rates may vary from time to time during the course of the performance of such services), and (d) the costs of appraisers, investment bankers, and other experts that may be retained by the Settlement Fund in connection with such collection efforts.

Cost of Collection and Enforcement. The El Paso Settling Parties jointly and severally agree to pay to the Designated Representative, within thirty (30) days after written demand is sent to El Paso Corporation by the Designated Representative, upon demand, all actual costs of collection and attempted collection of Consideration, including, without limitation: (a) those expenses incurred or paid to protect, preserve, collect, sell, advertise, locate, take possession of, liquidate or otherwise deal with any Collateral given by the El Paso Pledgors to secure Consideration, (b) expenses of dealing with any person or entity in any bankruptcy proceeding, (c) all expenses incurred by the Settlement Fund for its reasonable attorneys' ’ and paralegal fees, disbursements, and costs, all at such rates and with respect to such services as the Settlement Fund in its sole discretion may elect to pay (as such rates may vary from time to time during the course of the performance of such services), and (d) the costs of appraisers, investment bankers, and other experts that may be retained by the Settlement Fund in connection with such collection efforts.