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. The Lenders shall have received from the Borrower an expense deposit equal to an amount no less than $500,000.00, which amount shall be held by the Lenders and applied solely to expenses payable by the Loan Parties pursuant to Section 12.05, with any unused portion of such amount repaid to the Borrower upon the repayment in full of the Loans.
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 and Foothill acknowledge that Borrower previously has paid to Foothill the sum of $20,000 (the "Expense Deposit") as a --------------- deposit against the Foothill Expenses that may be incurred by Foothill. This Expense Deposit will be applied by Foothill to Foothill Expenses as and when they are incurred. If Foothill concludes for any reason, that it will not make the financing detailed herein available to Borrower, it will return the unused balance of the Expense Deposit. As an illustration, the amount to be deducted from the Expense Deposit may include costs and expenses incurred by auditors and appraisers and in verifying Borrower's records, Foothill's legal expenses in connection with advice concerning the subject financing or with the preparation of the Loan Documents, and any filing and search fees. If, on the other hand, Foothill continues to be prepared to extend the credit detailed herein to Borrower and Borrower declines for any reason, to accept such financial accommodations from Foothill, Foothill shall be entitled to retain the full amount of the Expense Deposit, irrespective of the amount of the Foothill Expenses incurred. Foothill's retention of the balance of the Expense Deposit results from its reasonable endeavor to estimate the added administrative costs incurred and the amount of damage sustained by Foothill as a result of Borrower's decision to decline to proceed with the financing. If the financing is funded, the Expense Deposit will be returned to Borrower after deducting all Foothill Expenses actually incurred by Foothill. Foothill shall not be obligated to segregate the Expense Deposit from its other funds and Borrower is not entitled to receive interest on any portion of the Expense Deposit.
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. The Fee previously paid to Buyer was deemed fully earned upon Buyer's receipt and is not refundable. In the event the transaction set forth in this Agreement fails to close due to a breach or default by either of the Seller Entities under this Agreement, Buyer shall retain the Fee (without affecting or limiting Buyer's remedies set forth in 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. If at any time Borrowing Availability (as defined in the Working Capital Credit Agreement) shall be less than $20,000,000 as determined by Lender, Borrower shall pay to Lender, for deposit into an account designated by Lender, the sum of $25,000, to be held as security for the Obligations (the "Expense Deposit"). Lender may in its discretion charge such account for application towards any costs, expenses or fees payable by Borrower or any Guarantor to Lender under this Agreement or the other Loan Documents. In no event shall prior recourse to the Expense Deposit be a prerequisite to the Lender's right to demand reimbursement for any such costs, expenses or fees. To the extent that such account is charged and so long as Borrowing Availability (as defined in the Working Capital Credit Agreement) is less than $11,000,000, Borrower shall deposit with Lender upon demand by Lender the amount so charged so that the account contains an Expense Deposit of not less than $25,000 at all times. The Expense Deposit may be commingled with other funds of the Lender, and neither Borrower nor any Guarantor will be entitled to receive interest on the Expense Deposit. The unused portion of the Expense Deposit shall be returned to Borrower upon the indefeasible payment in full in cash of all of the Obligations.
Expense Deposit. If at any time Borrowers' Excess Availability shall be less than $2,500,000, Borrowers shall promptly, but in any event within five Business Days, pay to Agent an expense deposit in the amount of $25,000 (the "Expense Deposit"), which Expense Deposit shall be held by Agent and may be applied by the Agent to the Lender Group Expenses incurred by the Agent in connection with the exercise of any of its rights under this Agreement, including, without limitation, monitoring Borrowers' compliance with the terms of this Agreement and the other Loan Documents and any appraisals, audits, collateral reviews and field examinations conducted by the Agent during the term of this Agreement. To the extent that the Agent applies any portion of the Expense Deposit to pay any Lender Group Expenses, Borrowers shall deposit with the Agent within ten (10) days after demand by the Agent the amount so applied so that the Expense Deposit is not less than $25,000 after such new deposit. In no event shall prior recourse to the Expense Deposit be a prerequisite to the Agent's right to demand reimbursement for any Lender Group Expenses. The Expense Deposit will not be segregated and may be commingled with other funds of the Agent and Borrowers will not be entitled to receive any interest on the Expense Deposit. The unused portion of the Expense Deposit shall be returned to Administrative Borrower upon the earlier of the Maturity Date or the payment in full in cash of all of the Obligations.