Expense Deposit. At Closing, the Fee shall be applied to the costs to be paid by Sellers as contemplated by Section 6 and the balance, if any, shall be refunded to Sellers. In the event the transaction set forth in this Agreement fails to close, the Fee shall be applied as contemplated by the Commitment.
Expense Deposit. Client shall deposit in advance with Optima a deposit of $1,900.00 (the "Expense Deposit"). In the event of any default by Client hereunder, Optima may, cumulative to all other remedies found at law or in equity, apply or retain all or any part of the Expense Deposit to cure such default or to reimburse Optima for any damages, losses, claims or expenses Optima may have incurred by reason of the default. If at the end of the Term Client shall not be in default under this Agreement, the Expense Deposit, or any balance thereof, shall be returned to Client without interest. The Expense Deposit is not to be considered the final payment due under this Agreement.
Expense Deposit. DaimlerChrysler acknowledges receipt of $150,000 from Borrower for payment and reimbursement of reasonable fees and expenses incurred by DaimlerChrysler solely in connection with the Loan. Such sum shall be subject to replenishment if such funds are expended. Upon Termination, any unused expense deposit funds shall be credited to the Obligations or, if no obligations are outstanding, refunded to Borrower.
Expense Deposit. The Fee previously paid to Buyer was deemed fully earned upon Buyer's receipt and is not refundable except as otherwise provided below. In the event the transaction set forth in this Agreement fails to close due to a breach or default by Seller under this Agreement, Buyer shall retain the Fee (without affecting or limiting Buyer's remedies set forth in this Agreement). In the event the transaction set forth in this Agreement fails to close due to a breach or default by Buyer under this Agreement, Buyer shall return the Fee to Seller. In the event the transaction set forth in this Agreement fails to close for any reason other than a breach or default by either party hereto, the Fee, less Buyer's reasonable expenses incurred in connection with this transaction, including, but not limited to, attorneys fees, Lender's expenses and due diligence expenses, shall be returned to Seller.
Expense Deposit. An expense deposit (the "Expense Deposit") in an amount set forth on Exhibit A hereto to be held by Lender in a non-interest bearing account, which shall be applied to out-of-pocket expenses incurred by Lender on behalf of Borrower, including but not limited to appraisals, market studies, legal fees, and environmental and engineering reports, as more specifically set forth in Section II.I below, as well as travel expenses and other direct office expenses of Lender. In the event that this Application is not approved by Lender, that Borrower withdraws its application or defaults under the Commitment, or in the event the Construction Loan is closed, the Expense Deposit, less expenses incurred by Lender in connection with the Construction Loan, shall be returned to Borrower or credited to Borrower at the closing of the Construction Loan. Similarly, Borrower shall reimburse Lender for any such expenses incurred by Lender in excess of the Expense Deposit.
Expense Deposit. The Administrative Agent shall have received a deposit in an amount equal to Two Hundred Fifty Thousand Dollars ($250,000) to be applied by the Administrative Agent to the payment of fees, costs and expenses payable to the Administrative Agent under Section 11.3 of the Credit Agreement following the Second Amendment Effective Date, including, without limitation, all fees, costs and expenses of the Administrative Agent (including, without limitation, the reasonable fees and out-of-pocket expenses of counsel for the Administrative Agent).
Expense Deposit. Borrower shall have paid to (i) Successor Agent the Expense Deposit, and (ii) Resigning Agent the Fleet Expense Deposit required pursuant to Section 4.5
Expense Deposit. On or prior to the date hereof, Seller has paid $50,000 to Purchaser to defray, in part, the out-of-pocked due diligence costs to be incurred by Purchaser in connection with the transactions contemplated hereby. The expense deposit is non-refundable.
Expense Deposit. Borrower has previously delivered to Lender an expense deposit (the "Expense Deposit") to cover certain Lender Expenses incurred in conducting due diligence and drafting and negotiating the Loan Documents. If after this Agreement is executed, Borrower declines to borrow from Lender hereunder or fails to satisfy the conditions precedent to the initial extension of credit hereunder (through no fault of Lender), Lender shall be entitled to retain the full amount of the Expense Deposit, irrespective of the amount of Lender Expenses incurred by Lender. If the conditions precedent to the initial extension of credit hereunder are satisfied and Borrower borrows from Lender hereunder, the Expense Deposit will be returned to Borrower after deducting all Lender Expenses incurred by Lender. The Expense Deposit will not be segregated and may be commingled with other funds. Borrower will not be entitled to receive interest on the Expense Deposit. Lender may require additional deposits in the event the Lender Expenses associated with closing the financing hereunder exceed, or are projected to exceed, the initial amount of the Expense Deposit. [Signature page to follow.]
Expense Deposit. Issuer has paid to Agent an expense deposit of Thirty-Five Thousand Dollars ($35,000) (the “Expense Deposit”) to initiate Holders’ due diligence review process. The Expense Deposit shall be applied to the payment of Holder Expenses incurred through the Issue Date, with any remaining amounts promptly remitted to Issuer.
