Expenses and Currency Sample Clauses
The Expenses and Currency clause defines how costs incurred under the agreement will be handled and specifies the currency in which payments must be made. Typically, it outlines which party is responsible for particular expenses, such as travel, materials, or third-party fees, and states whether payments should be made in local or foreign currency. This clause ensures both parties have a clear understanding of their financial obligations and eliminates confusion or disputes regarding payment amounts due to currency fluctuations or unanticipated costs.
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Expenses and Currency. Guarantor agrees to pay all out-of-pocket expenses, including reasonable attorneys’ fees and court costs, incurred by Creditor in any litigation, arbitration or proceeding to enforce its rights under this Guaranty, but only to the extent that the Guarantor is found in such litigation, arbitration or proceeding to be in default or in breach of the terms of this Guaranty. The Guarantor shall make payment of each Obligation in the currency (the “Contract Currency”) in which the Guaranteed Party is required to pay that Obligation. If the Guarantor makes payment of any Obligation to the Creditor in a currency (the “Other Currency”) other than the Contract Currency (whether voluntarily or pursuant to an order or judgment of a court or tribunal of any jurisdiction), such payment shall constitute a discharge only to the extent of the amount of the Contract Currency that the Creditor is able to purchase with such payment on the date of receipt in accordance with normal commercial practice.