Expenses and Indemnities. Whether or not the transactions contemplated hereby shall be consummated, the Borrowers agrees to pay: (a) the cost of producing and reproducing this Agreement and other instruments mentioned herein; (b) the reasonable fees, expenses and disbursements of the Agent and its counsel (as well as any outside counsel for the Lenders) incurred in connection with the preparation of this Agreement and other instruments mentioned herein, each funding hereunder, the addition or removal of Collateral pursuant to Section 5 and all amendments, modifications, approvals, consents or waivers hereto or hereunder, and (c) all reasonable out-of-pocket expenses (including attorneys' fees and costs incurred by the Agent and by each Lender in connection with (i) the enforcement of this Agreement, the Loan Documents and the Notes against any Borrower and/or the Parent Guarantor or the administration thereof after the occurrence and during the continuance of a Default or Event of Default, and (ii) in connection with any workout, amendment or waiver requested by any Borrower or the Parent Guarantor, litigation, proceeding or dispute (other than one between two or more Lenders and other than one in which any Borrower commences proceedings against the Lenders or any Lender and prevails therein), whether arising hereunder or otherwise, in any way related to the Agent's or any Lender's relationship with any Borrower hereunder. The amount of all such expenses shall, until paid, bear interest at the rate applicable to principal hereunder (including any Default Rate) and be an obligation secured by any collateral. After the occurrence and during the continuance of an Event of Default, the Borrowers shall pay the costs of any field audit examinations that the Agent in its discretion may conduct. Each Borrower further agrees to indemnify and hold harmless the Indemnified Parties from and against any and all damages, losses, settlement payments, obligations, liabilities, claims, actions or causes of action, and reasonable costs and expenses incurred, suffered, sustained or required to be paid by an Indemnified Party by reason of or resulting from any litigation, proceeding or dispute commenced or threatened against the Agent, or any Lender arising out of the transactions contemplated hereby unless such damages, losses, settlement payments, obligations or liabilities were caused by the gross negligence or willful misconduct of the Indemnified Party. In any investigation, proceeding or litigation, or the preparation therefor, the Agent shall be entitled to select its own counsel and, to the extent no conflict of interest arises, counsel for the Lenders (being the same counsel as counsel to the Agent) and, in addition to the foregoing indemnity, each Borrower agrees to pay promptly the reasonable fees and expenses of such counsel. The covenants of this Section 15 shall survive payment or satisfaction of payment of amounts owing with respect to the Notes.
Appears in 1 contract
Expenses and Indemnities. (a) Whether or not the transactions contemplated hereby shall be consummated, the Borrowers Borrower agrees to pay: (a) the cost of producing and reproducing this Agreement and other instruments mentioned herein; (b) the reasonable fees, expenses and disbursements of the Agent and its counsel (as well as any outside counsel for the Lenders) incurred in connection with the preparation preparation, negotiation and closing of this Agreement and other instruments mentioned herein, each funding hereunder, the addition or removal of Collateral pursuant to Section 5 and all amendments, modifications, approvals, consents or waivers hereto hereto, thereto, hereunder or hereunderthereunder, and (c) all reasonable out-of-pocket expenses (including attorneys' ’ fees and costs costs) incurred by the Agent and by each Lender in connection with (i) the enforcement of this Agreement, the Loan Documents and the Notes against any the Borrower and/or the Parent Guarantor or the administration thereof after the occurrence and during the continuance of a Default or Event of Default, and (ii) in connection with any workout, amendment amendment, modification, approval, consent or waiver requested by any the Borrower or the Parent Guarantor, litigation, proceeding or dispute (other than one between two or more Lenders and other than one in which any the Borrower commences proceedings against the Lenders or any Lender and prevails therein), whether arising hereunder or otherwise, in any way related to the Agent's ’s or any Lender's ’s relationship with any the Borrower hereunder. The amount of all such expenses shall, if not paid within 30 days of receipt of invoice, until paid, bear interest at the rate applicable to principal hereunder (including any Default Rate) and be an obligation secured by any collateral. After the occurrence and during the continuance of an Event of Default, the Borrowers Borrower shall pay the costs of any field audit examinations that the Agent or any Lender may conduct in its discretion may conduct. Each Borrower further agrees to indemnify and hold harmless the Indemnified Parties from and against any and all damagesdiscretion; provided, losseshowever, settlement payments, obligations, liabilities, claims, actions or causes of action, and reasonable costs and expenses incurred, suffered, sustained or required to be paid by an Indemnified Party by reason of or resulting from any litigation, proceeding or dispute commenced or threatened against that the Agent, or any each Lender arising out and their duly authorized representatives, attorneys and accountants shall use reasonable commercial efforts to share information with one another and otherwise cooperate with on another to limit the number of audits per annum and minimize the transactions contemplated hereby unless such damages, losses, settlement payments, obligations or liabilities were caused expenses incurred by the gross negligence Servicer in connection with any audits or willful misconduct of the Indemnified Party. In any investigation, proceeding or litigation, or the preparation therefor, the Agent shall be entitled to select its own counsel and, to the extent no conflict of interest arises, counsel for the Lenders (being the same counsel as counsel to the Agent) and, in addition to the foregoing indemnity, each Borrower agrees to pay promptly the reasonable fees and expenses of such counsel. The covenants of this Section 15 shall survive payment or satisfaction of payment of amounts owing with respect to the Notesinspections hereunder.
Appears in 1 contract
Samples: Credit Agreement (Interpool Inc)
Expenses and Indemnities. Whether or not any the transactions contemplated hereby shall be consummatedLoan is made hereunder, the Borrowers Borrower agrees to pay: reimburse the Lender upon demand for all reasonable expenses paid or incurred by either the Lender or Xxxxxx (aincluding filing and recording costs and fees and expenses of legal counsel of each of Lender and Xxxxxx) the cost of producing and reproducing this Agreement and other instruments mentioned herein; (b) the reasonable fees, expenses and disbursements of the Agent and its counsel (as well as any outside counsel for the Lenders) incurred in connection with the preparation preparation, review, execution, delivery, amendment, modification, interpretation, collection and enforcement of this Agreement and other instruments mentioned herein, each funding hereunder, the addition or removal of Collateral pursuant Loan Documents. The Borrower agrees to Section 5 and all amendments, modifications, approvals, consents or waivers hereto or hereunderpay, and (c) save the Lender harmless from all reasonable out-of-pocket expenses (including attorneys' fees and costs incurred by liability for, any stamp or other taxes which may be payable with respect to the Agent and by each Lender in connection with (i) the enforcement execution or delivery of this Agreement, the Loan Documents and the Notes against any Borrower and/or the Parent Guarantor or the administration thereof after the occurrence and during the continuance of a Default or Event of Default, and (ii) in connection with any workout, amendment or waiver requested by any Borrower or the Parent Guarantor, litigation, proceeding or dispute (other than one between two or more Lenders and other than one in which any Borrower commences proceedings against the Lenders or any Lender and prevails therein), whether arising hereunder or otherwise, in any way related to the Agent's or any Lender's relationship with any Borrower hereunderDocuments. The amount of all such expenses shall, until paid, bear interest at the rate applicable to principal hereunder (including any Default Rate) and be an obligation secured by any collateral. After the occurrence and during the continuance of an Event of Default, the Borrowers shall pay the costs of any field audit examinations that the Agent in its discretion may conduct. Each Borrower further agrees to indemnify and hold the Lender harmless from any loss or expense which may arise or be created by the acceptance of instructions for making Loans or disbursing the proceeds thereof. The Borrower agrees to indemnify and hold the Lender and Xxxxxx harmless from any obligation to pay any fees or commissions to any broker or finder in connection with the transactions contemplated in the Loan Documents, including, without limitation, to NDX Trading, Inc. The Borrower shall indemnify and hold harmless the Lender and its respective Affiliates, and each such Person’s respective officers, directors, employees, attorneys, agents and representatives (each, an “Indemnified Parties Person”), from and against any and all suits, actions, proceedings, claims, damages, losses, settlement payments, obligations, liabilities, claims, actions or causes of action, and reasonable costs liabilities and expenses incurred(including reasonable attorneys’ fees and disbursements and other costs of investigation or defense, sufferedincluding those incurred upon any appeal) that may be instituted or asserted against or incurred by any such Indemnified Person as the result of any representation or warranty made by the Borrower in the Loan Documents or in any certificate, sustained statement, report or required other writing furnished by the Borrower to be paid by an Indemnified Party by reason of the Lender or resulting from any litigation, proceeding or dispute commenced or threatened against Xxxxxx pursuant to the Agent, Loan Documents or any Lender arising out other instrument, document or agreement shall prove to have been false or misleading. The obligations of the transactions contemplated hereby unless such damages, losses, settlement payments, obligations Borrower under this Section 10.2 shall survive any termination or liabilities were caused by the gross negligence or willful misconduct expiration of the Indemnified Party. In any investigation, proceeding or litigation, or Facility and payment in full of the preparation therefor, the Agent shall be entitled to select its own counsel and, to the extent no conflict of interest arises, counsel for the Lenders (being the same counsel as counsel to the Agent) and, in addition to the foregoing indemnity, each Borrower agrees to pay promptly the reasonable fees and expenses of such counsel. The covenants of this Section 15 shall survive payment or satisfaction of payment of amounts owing with respect to the NotesObligations.
Appears in 1 contract
Expenses and Indemnities. Whether or not the transactions contemplated hereby shall be consummated, the Borrowers Borrower agrees to pay: (a) the cost of producing and reproducing this Agreement and other instruments mentioned herein; (b) the reasonable fees, expenses and disbursements of the Agent and its counsel (as well as any outside counsel for the Lenders) incurred in connection with the preparation of this Agreement and other instruments mentioned herein, each funding hereunder, the addition or removal of Collateral pursuant to Section 5 and all amendments, modifications, approvals, consents or waivers hereto or hereunder, and (c) all reasonable out-of-pocket expenses (including attorneys' fees and costs incurred by the Agent and by each Lender in connection with (i) the enforcement of this Agreement, the Loan Documents and the Notes against any the Borrower and/or the Parent Guarantor or the administration thereof after the occurrence and during the continuance of a Default or Event of Default, and (ii) in connection with any workout, amendment or waiver requested by any Borrower or the Borrower, the Parent GuarantorGuarantor or Interpool Limited, litigation, proceeding or dispute (other than one between two or more Lenders and other than one in which any the Borrower commences proceedings against the Lenders or any Lender and prevails therein), whether arising hereunder or otherwise, in any way related to the Agent's or any Lender's relationship with any the Borrower hereunder. The amount of all such expenses shall, until paid, bear interest at the rate applicable to principal hereunder (including any Default Rate) and be an obligation secured by any collateral. After the occurrence and during the continuance of an Event of Default, the Borrowers Borrower shall pay the costs of any field audit examinations that the Agent in its discretion may conduct. Each The Borrower further agrees to indemnify and hold harmless the Indemnified Parties from and against any and all damages, losses, settlement payments, obligations, liabilities, claims, actions or causes of action, and reasonable costs and expenses incurred, suffered, sustained or required to be paid by an Indemnified Party by reason of or resulting from any litigation, proceeding or dispute commenced or threatened against the Agent, or any Lender arising out of the transactions contemplated hereby unless such damages, losses, settlement payments, obligations or liabilities were caused by the gross negligence or willful misconduct of the Indemnified Party. In any investigation, proceeding or litigation, or the preparation therefor, the Agent shall be entitled to select its own counsel and, to the extent no conflict of interest arises, counsel for the Lenders (being the same counsel as counsel to the Agent) and, in addition to the foregoing indemnity, each the Borrower agrees to pay promptly the reasonable fees and expenses of such counsel. The covenants of this Section 15 shall survive payment or satisfaction of payment of amounts owing with respect to the Notes.
Appears in 1 contract
Samples: Credit Agreement (Interpool Inc)
Expenses and Indemnities. Borrowers and Lenders agree that, as the following costs, expenses, charges and other disbursements benefit each Borrower and as such costs, expenses, charges and other disbursements cannot easily be ratably allocated to the account of any Borrower or Borrowers, each Borrower, unless otherwise specified in this Section 10.1, shall pay, as its Obligation, promptly on demand, and in any event within thirty (30) days of the invoice date therefor, (a) all costs, expenses, charges and other disbursements (including, without limitation, all reasonable attorneys' fees and allocated expenses of outside counsel and in-house legal staff) incurred by or on behalf of Agent or any Lender in connection with the preparation of the Loan Documents and all amendments and modifications thereof, extensions thereto or substitutions therefor, and all costs, expenses, charges or other disbursements incurred by or on behalf of Agent or any Lender (including, without limitation all reasonable attorney's fees and allocated expenses of outside counsel and in-house legal staff) in connection with the furnishing of opinions of counsel (including, without limitation, any opinions requested by Lenders as to any legal matters arising hereunder) and of Borrowers' performance of and compliance with all agreements and conditions contained herein or in any of the other Loan Documents on its part to be performed or complied with; (b) all other costs, expenses, charges and other disbursements incurred by or on behalf of Agent or any Lender in connection with the negotiation, preparation, execution, administration, continuation and enforcement of the Loan Documents, and the making of the Loans hereunder; (c) all costs, expenses, charges and other disbursements (including, without limitation, all reasonable attorney's fees and allocated expenses of outside counsel and in-house legal staff) incurred by or on behalf of Agent or any Lender in connection with the assignment or attempted assignment to any other Person of all or any portion of any Lender's interest under this Agreement pursuant to Section 11.10; and (d) regardless of the existence of an Event of Default or Potential Event of Default, all legal, appraisal, audit, accounting, consulting or other fees, costs, expenses, charges or other disbursements incurred by or on behalf of Agent or any Lender in connection with any litigation, contest, dispute, suit, proceeding or action (whether instituted by Lenders, Agent, any Borrower or any other Person) seeking to enforce any Obligations of, or collecting any payments due from, any Borrower under this Agreement and the Notes, all of which amounts shall be deemed to be part of the Obligations; provided, however, that Lenders shall be entitled to collect the full amount of such costs, expenses, charges and other disbursements only once. Notwithstanding anything to the contrary contained in this Section 10.1, so long as no Event of Default or Potential Event of Default shall have occurred and be continuing, all appraisals of the Eligible Inventory shall be at the expense of Lenders. If an Event of Default or Potential Event of Default shall have occurred and be continuing, such appraisals shall be at the expense of the Requesting Borrower. . Whether or not the transactions contemplated hereby shall be consummated: . Each Borrower, the Borrowers agrees as to itself, and FSI, jointly and severally as to itself and each Borrower, shall pay: (a) the cost of producing , indemnify, and reproducing this Agreement and other instruments mentioned herein; (b) the reasonable feeshold each Lender, expenses and disbursements of the Agent and its counsel each of their respective officers, directors, employees, counsel, agents and attorneys-in-fact (as well as any outside counsel for the Lenderseach, an "Indemnified Person") incurred in connection with the preparation of this Agreement and other instruments mentioned herein, each funding hereunder, the addition or removal of Collateral pursuant to Section 5 and all amendments, modifications, approvals, consents or waivers hereto or hereunder, and (c) all reasonable out-of-pocket expenses (including attorneys' fees and costs incurred by the Agent and by each Lender in connection with (i) the enforcement of this Agreement, the Loan Documents and the Notes against any Borrower and/or the Parent Guarantor or the administration thereof after the occurrence and during the continuance of a Default or Event of Default, and (ii) in connection with any workout, amendment or waiver requested by any Borrower or the Parent Guarantor, litigation, proceeding or dispute (other than one between two or more Lenders and other than one in which any Borrower commences proceedings against the Lenders or any Lender and prevails therein), whether arising hereunder or otherwise, in any way related to the Agent's or any Lender's relationship with any Borrower hereunder. The amount of all such expenses shall, until paid, bear interest at the rate applicable to principal hereunder (including any Default Rate) and be an obligation secured by any collateral. After the occurrence and during the continuance of an Event of Default, the Borrowers shall pay the costs of any field audit examinations that the Agent in its discretion may conduct. Each Borrower further agrees to indemnify and hold harmless the Indemnified Parties from and against any and all damagesliabilities, obligations, losses, settlement paymentsdamages, obligationspenalties, liabilitiesactions, claimsjudgments, actions suits, costs, charges, expenses or causes disbursements (including reasonable attorney's fees and the allocated cost of actionin-house counsel) of any kind or nature whatsoever with respect to the execution, delivery, enforcement, performance and reasonable costs administration of this Agreement and expenses incurred, suffered, sustained or required to be paid by an Indemnified Party by reason of or resulting from any litigation, proceeding or dispute commenced or threatened against the Agentother Loan Documents, or any Lender arising out of the transactions contemplated hereby unless such damagesand thereby, lossesand with respect to any investigation, settlement paymentslitigation or proceeding (including any case, obligations action or liabilities were caused by proceeding before any court or other Governmental Authority relating to bankruptcy, reorganization, insolvency, liquidation, dissolution or relief of debtors or any appellate proceeding) related to this Agreement or the Loans or the use of the proceeds thereof, whether or not any Indemnified Person is a party thereto (all the foregoing, collectively, the "Indemnified Liabilities"); provided, that Borrowers and FSI shall have no obligation hereunder to any Indemnified Person with respect to Indemnified Liabilities arising from the gross negligence or willful misconduct of the such Indemnified Party. In any investigation, proceeding or litigation, or the preparation therefor, the Agent shall be entitled to select its own counsel and, to the extent no conflict of interest arises, counsel for the Lenders (being the same counsel as counsel to the Agent) and, in addition to the foregoing indemnity, each Borrower agrees to pay promptly the reasonable fees and expenses of such counsel. The covenants of this Section 15 shall survive payment or satisfaction of payment of amounts owing with respect to the NotesPerson.
Appears in 1 contract
Samples: Warehousing Credit Agreement (PLM Equipment Growth Fund V)
Expenses and Indemnities. Whether or not the transactions contemplated hereby shall be consummatedany Discretionary Loan is made hereunder, the Borrowers Borrower agrees to pay: reimburse the Lender upon demand for all reasonable expenses paid or incurred by either the Lender or Mxxxxx (aincluding filing and recording costs and fees and expenses of legal counsel of each of Lender and Mxxxxx) the cost of producing and reproducing this Agreement and other instruments mentioned herein; (b) the reasonable fees, expenses and disbursements of the Agent and its counsel (as well as any outside counsel for the Lenders) incurred in connection with the preparation preparation, review, execution, delivery, amendment, modification, interpretation, collection and enforcement of this Agreement and other instruments mentioned herein, each funding hereunderthe Loan Documents. Without the consent or any additional direction from the Borrower, the addition or removal of Collateral pursuant Borrower agrees that the Lender may advance to Section 5 and all amendments, modifications, approvals, consents or waivers hereto or hereunderitself amounts payable by the Borrower under this Section, and (c) any such advance will be deemed to be a Discretionary Loan. The Borrower agrees to pay, and save the Lender harmless from all reasonable out-of-pocket expenses (including attorneys' fees and costs incurred by liability for, any stamp or other taxes which may be payable with respect to the Agent and by each Lender in connection with (i) the enforcement execution or delivery of this Agreement, the Loan Documents and the Notes against any Borrower and/or the Parent Guarantor or the administration thereof after the occurrence and during the continuance of a Default or Event of Default, and (ii) in connection with any workout, amendment or waiver requested by any Borrower or the Parent Guarantor, litigation, proceeding or dispute (other than one between two or more Lenders and other than one in which any Borrower commences proceedings against the Lenders or any Lender and prevails therein), whether arising hereunder or otherwise, in any way related to the Agent's or any Lender's relationship with any Borrower hereunderDocuments. The amount of all such expenses shall, until paid, bear interest at the rate applicable to principal hereunder (including any Default Rate) and be an obligation secured by any collateral. After the occurrence and during the continuance of an Event of Default, the Borrowers shall pay the costs of any field audit examinations that the Agent in its discretion may conduct. Each Borrower further agrees to indemnify and hold the Lender harmless from any loss or expense which may arise or be created by the acceptance of instructions for making Loans or disbursing the proceeds thereof. The Borrower agrees to indemnify and hold the Lender and Mxxxxx harmless from any obligation to pay any fees or commissions to any broker or finder in connection with the transactions contemplated in the Loan Documents. The Borrower shall indemnify and hold harmless the Lender and its respective Affiliates, and each such Person’s respective officers, directors, employees, attorneys, agents and representatives (each, an “Indemnified Parties Person”), from and against any and all suits, actions, proceedings, claims, damages, losses, settlement payments, obligations, liabilities, claims, actions or causes of action, and reasonable costs liabilities and expenses incurred(including reasonable attorneys’ fees and disbursements and other costs of investigation or defense, sufferedincluding those incurred upon any appeal) that may be instituted or asserted against or incurred by any such Indemnified Person as the result of any representation or warranty made by the Borrower in the Loan Documents or in any certificate, sustained statement, report or required other writing furnished by the Borrower to be paid by an Indemnified Party by reason of the Lender or resulting from any litigation, proceeding or dispute commenced or threatened against Mxxxxx pursuant to the Agent, Loan Documents or any Lender arising out other instrument, document or agreement shall prove to have been false or misleading. The obligations of the transactions contemplated hereby unless such damages, losses, settlement payments, obligations Borrower under this Section 10.2 shall survive any termination or liabilities were caused by the gross negligence or willful misconduct expiration of the Indemnified Party. In any investigation, proceeding or litigation, or Discretionary Facility and payment in full of the preparation therefor, the Agent shall be entitled to select its own counsel and, to the extent no conflict of interest arises, counsel for the Lenders (being the same counsel as counsel to the Agent) and, in addition to the foregoing indemnity, each Borrower agrees to pay promptly the reasonable fees and expenses of such counsel. The covenants of this Section 15 shall survive payment or satisfaction of payment of amounts owing with respect to the NotesObligations.
Appears in 1 contract
Samples: Credit Agreement (Medicalcv Inc)
Expenses and Indemnities. Whether or not the transactions contemplated hereby shall be consummatedany Discretionary Loan is made hereunder, the Borrowers Borrower agrees to payreimburse the Lender upon demand for: (a) all reasonable expenses paid or incurred by either the cost Lender or Xxxxxx (including filing and recording costs and fees and expenses of producing legal counsel of each of Lender, Xxxxxx and reproducing this Agreement and other instruments mentioned herein; (bAssociated Bank) the reasonable fees, expenses and disbursements of the Agent and its counsel (as well as any outside counsel for the Lenders) incurred in connection with the preparation preparation, review, execution, delivery, amendment, modification, interpretation, collection and enforcement of this Agreement and other instruments mentioned herein, each funding hereunder, the addition or removal of Collateral pursuant to Section 5 and all amendments, modifications, approvals, consents or waivers hereto or hereunder, Loan Documents; and (cb) all reasonable out-of-pocket expenses paid or incurred by either the Lender or Xxxxxx (including attorneys' filing and recording costs and fees and costs incurred by the Agent expenses of legal counsel of each of Lender, Xxxxxx and by each Lender in connection with (i) the enforcement of this Agreement, the Loan Documents and the Notes against any Borrower and/or the Parent Guarantor or the administration thereof after the occurrence and during the continuance of a Default or Event of Default, and (iiTCF National Bank) in connection with the preparation, review, execution, delivery, amendment, modification, interpretation, collection and enforcement of any workoutdocument, amendment instrument or waiver requested by agreement evidencing the TCF Loan. The Borrower agrees to pay, and save the Lender harmless from all liability for, any Borrower stamp or the Parent Guarantor, litigation, proceeding or dispute (other than one between two or more Lenders and other than one in taxes which any Borrower commences proceedings against the Lenders or any Lender and prevails therein), whether arising hereunder or otherwise, in any way related may be payable with respect to the Agent's execution or any Lender's relationship with any Borrower hereunderdelivery of the Loan Documents. The amount of all such expenses shall, until paid, bear interest at the rate applicable to principal hereunder (including any Default Rate) and be an obligation secured by any collateral. After the occurrence and during the continuance of an Event of Default, the Borrowers shall pay the costs of any field audit examinations that the Agent in its discretion may conduct. Each Borrower further agrees to indemnify and hold the Lender harmless from any loss or expense which may arise or be created by the acceptance of instructions for making Loans or disbursing the proceeds thereof. The Borrower agrees to indemnify and hold the Lender and Xxxxxx harmless from any obligation to pay any fees or commissions to any broker or finder in connection with the TCF Loan or the transactions contemplated in the Loan Documents, including, without limitation, to NDX Trading, Inc. The Borrower shall indemnify and hold harmless the Lender and its respective Affiliates, and each such Person’s respective officers, directors, employees, attorneys, agents and representatives (each, an “Indemnified Parties Person”), from and against any and all suits, actions, proceedings, claims, damages, losses, settlement payments, obligations, liabilities, claims, actions or causes of action, and reasonable costs liabilities and expenses incurred(including reasonable attorneys’ fees and disbursements and other costs of investigation or defense, sufferedincluding those incurred upon any appeal) that may be instituted or asserted against or incurred by any such Indemnified Person as the result of any representation or warranty made by the Borrower in the Loan Documents or in any certificate, sustained statement, report or required other writing furnished by the Borrower to be paid by an Indemnified Party by reason of the Lender or resulting from any litigation, proceeding or dispute commenced or threatened against Xxxxxx pursuant to the Agent, Loan Documents or any Lender arising out other instrument, document or agreement shall prove to have been false or misleading. The obligations of the transactions contemplated hereby unless such damages, losses, settlement payments, obligations Borrower under this Section 11.2 shall survive any termination or liabilities were caused by the gross negligence or willful misconduct expiration of the Indemnified Party. In any investigation, proceeding or litigation, or Discretionary Facility and payment in full of the preparation therefor, the Agent shall be entitled to select its own counsel and, to the extent no conflict of interest arises, counsel for the Lenders (being the same counsel as counsel to the Agent) and, in addition to the foregoing indemnity, each Borrower agrees to pay promptly the reasonable fees and expenses of such counsel. The covenants of this Section 15 shall survive payment or satisfaction of payment of amounts owing with respect to the NotesObligations.
Appears in 1 contract
Expenses and Indemnities. Whether or not the transactions contemplated hereby shall be consummatedany Discretionary Loan is made hereunder, the Borrowers Borrower agrees to pay: reimburse the Lender upon demand for all reasonable expenses paid or incurred by either the Lender or Xxxxxx (aincluding filing and recording costs and fees and expenses of legal counsel of each of Lender and Xxxxxx) the cost of producing and reproducing this Agreement and other instruments mentioned herein; (b) the reasonable fees, expenses and disbursements of the Agent and its counsel (as well as any outside counsel for the Lenders) incurred in connection with the preparation preparation, review, execution, delivery, amendment, modification, interpretation, collection and enforcement of this Agreement and other instruments mentioned herein, each funding hereunder, the addition or removal of Collateral pursuant Loan Documents. The Borrower agrees to Section 5 and all amendments, modifications, approvals, consents or waivers hereto or hereunderpay, and (c) save the Lender harmless from all reasonable out-of-pocket expenses (including attorneys' fees and costs incurred by liability for, any stamp or other taxes which may be payable with respect to the Agent and by each Lender in connection with (i) the enforcement execution or delivery of this Agreement, the Loan Documents and the Notes against any Borrower and/or the Parent Guarantor or the administration thereof after the occurrence and during the continuance of a Default or Event of Default, and (ii) in connection with any workout, amendment or waiver requested by any Borrower or the Parent Guarantor, litigation, proceeding or dispute (other than one between two or more Lenders and other than one in which any Borrower commences proceedings against the Lenders or any Lender and prevails therein), whether arising hereunder or otherwise, in any way related to the Agent's or any Lender's relationship with any Borrower hereunderDocuments. The amount of all such expenses shall, until paid, bear interest at the rate applicable to principal hereunder (including any Default Rate) and be an obligation secured by any collateral. After the occurrence and during the continuance of an Event of Default, the Borrowers shall pay the costs of any field audit examinations that the Agent in its discretion may conduct. Each Borrower further agrees to indemnify and hold the Lender harmless from any loss or expense which may arise or be created by the acceptance of instructions for making Loans or disbursing the proceeds thereof. The Borrower agrees to indemnify and hold the Lender and Xxxxxx harmless from any obligation to pay any fees or commissions to any broker or finder in connection with the transactions contemplated in the Loan Documents, including, without limitation, to NDX Trading, Inc. The Borrower shall indemnify and hold harmless the Lender and its respective Affiliates, and each such Person’s respective officers, directors, employees, attorneys, agents and representatives (each, an “Indemnified Parties Person”), from and against any and all suits, actions, proceedings, claims, damages, losses, settlement payments, obligations, liabilities, claims, actions or causes of action, and reasonable costs liabilities and expenses incurred(including reasonable attorneys’ fees and disbursements and other costs of investigation or defense, sufferedincluding those incurred upon any appeal) that may be instituted or asserted against or incurred by any such Indemnified Person as the result of any representation or warranty made by the Borrower in the Loan Documents or in any certificate, sustained statement, report or required other writing furnished by the Borrower to be paid by an Indemnified Party by reason of the Lender or resulting from any litigation, proceeding or dispute commenced or threatened against Xxxxxx pursuant to the Agent, Loan Documents or any Lender arising out other instrument, document or agreement shall prove to have been false or misleading. The obligations of the transactions contemplated hereby unless such damages, losses, settlement payments, obligations Borrower under this Section 11.2 shall survive any termination or liabilities were caused by the gross negligence or willful misconduct expiration of the Indemnified Party. In any investigation, proceeding or litigation, or Discretionary Facility and payment in full of the preparation therefor, the Agent shall be entitled to select its own counsel and, to the extent no conflict of interest arises, counsel for the Lenders (being the same counsel as counsel to the Agent) and, in addition to the foregoing indemnity, each Borrower agrees to pay promptly the reasonable fees and expenses of such counsel. The covenants of this Section 15 shall survive payment or satisfaction of payment of amounts owing with respect to the NotesObligations.
Appears in 1 contract
Samples: Credit Agreement (Medicalcv Inc)
Expenses and Indemnities. Whether or not the transactions contemplated hereby shall be consummated, the Borrowers Borrower agrees to pay: (a) the cost of producing and reproducing this Agreement and other instruments mentioned herein; (b) the reasonable fees, expenses and disbursements of the Agent and its counsel (as well as any outside counsel for the Lenders) incurred in connection with the preparation preparation, negotiation and closing of this Agreement and other instruments mentioned herein, each funding hereunder, the addition or removal of Collateral pursuant to Section 5 and all amendments, modifications, approvals, consents or waivers hereto hereto, thereto, hereunder or hereunderthereunder, and (c) all reasonable out-of-pocket expenses (including attorneys' fees and costs costs) incurred by the Agent and by each Lender in connection with (i) the enforcement of this Agreement, the Loan Documents and the Notes against any the Borrower and/or the Parent Guarantor or the administration thereof after the occurrence and during the continuance of a Default or Event of Default, and (ii) in connection with any workout, amendment amendment, modification, approval, consent or waiver requested by any the Borrower or the Parent Guarantor, litigation, proceeding or dispute (other than one between two or more Lenders and other than one in which any the Borrower commences proceedings against the Lenders or any Lender and prevails therein), whether arising hereunder or otherwise, in any way related to the Agent's or any Lender's relationship with any the Borrower hereunder. The amount of all such expenses shall, if not paid within 30 days of receipt of invoice, until paid, bear interest at the rate applicable to principal hereunder (including any Default Rate) and be an obligation secured by any collateral. After the occurrence and during the continuance of an Event of Default, the Borrowers Borrower shall pay the costs of any field audit examinations that the Agent or any Lender may conduct in its discretion may conductdiscretion; provided, however, that the Agent, each Lender and their duly authorized representatives, attorneys and accountants shall use reasonable commercial efforts to share information with one another and otherwise cooperate with on another to limit the number of audits per annum and minimize the expenses incurred by the Servicer in connection with any audits or inspections hereunder. Each The Borrower further agrees to indemnify and hold harmless the Indemnified Parties from and against any and all damages, losses, settlement payments, obligations, liabilities, claims, actions or causes of action, and reasonable costs and expenses incurred, suffered, sustained or required to be paid by an Indemnified Party by reason of or resulting from any litigation, proceeding or dispute commenced or threatened against the Agent, or any Lender arising out of the transactions contemplated hereby unless such damages, losses, settlement payments, obligations or liabilities were caused by the gross negligence or willful misconduct of the such Indemnified Party. In any investigation, proceeding or litigation, or the preparation therefor, the Agent and each Lender shall be entitled to select its own counsel and, to the extent no conflict of interest arises, counsel for the Lenders (being the same counsel as counsel to the Agent) and, in addition to the foregoing indemnity, each the Borrower agrees to pay promptly the reasonable fees and expenses of such counsel. The covenants of this Section 15 14 shall survive payment or satisfaction of payment of amounts owing with respect to the Notes.
Appears in 1 contract
Samples: Credit Agreement (Interpool Inc)
Expenses and Indemnities. Whether or not the transactions contemplated hereby shall be consummated, the Borrowers Borrower agrees to pay: (a) the cost of producing and reproducing this Agreement and other instruments mentioned herein; (b) the reasonable fees, expenses and disbursements of the Agent and its counsel (as well as any outside counsel for the Lenders) incurred in connection with the preparation of this Agreement and other instruments mentioned herein, each funding hereunder, the addition or removal of Collateral pursuant to Section 5 and all amendments, modifications, approvals, consents or waivers hereto or hereunder, and (c) all reasonable out-of-pocket expenses (including attorneys' ’ fees and costs costs) incurred by the Agent and by each Lender in connection with (i) the enforcement of this Agreement, the Loan Documents and the Notes against any the Borrower and/or the Parent Guarantor or the administration thereof after the occurrence and during the continuance of a Default or Event of Default, and (ii) in connection with any workout, amendment or waiver requested by any the Borrower or the Parent Guarantor, litigation, proceeding or dispute (other than one between two or more Lenders and other than one in which any the Borrower commences proceedings against the Lenders or any Lender and prevails therein), whether arising hereunder or otherwise, in any way related to the Agent's ’s or any Lender's ’s relationship with any the Borrower hereunder. The amount of all such expenses shall, if not paid within 30 days of receipt of invoice, until paid, bear interest at the rate applicable to principal hereunder (including any Default Rate) and be an obligation secured by any collateral. After the occurrence and during the continuance of an Event of Default, the Borrowers Borrower shall pay the costs of any field audit examinations that the Agent in its discretion may conduct. Each The Borrower further agrees to indemnify and hold harmless the Indemnified Parties from and against any and all damages, losses, settlement payments, obligations, liabilities, claims, actions or causes of action, and reasonable costs and expenses incurred, suffered, sustained or required to be paid by an Indemnified Party by reason of or resulting from any litigation, proceeding or dispute commenced or threatened against the Agent, or any Lender arising out of the transactions contemplated hereby unless such damages, losses, settlement payments, obligations or liabilities were caused by the gross negligence or willful misconduct of the Indemnified Partyindemnified party. In any investigation, proceeding or litigation, or the preparation therefor, the Agent and each Lender shall be entitled to select its own counsel and, to the extent no conflict of interest arises, counsel for the Lenders (being the same counsel as counsel to the Agent) and, in addition to the foregoing indemnity, each the Borrower agrees to pay promptly the reasonable fees and expenses of such counsel. The covenants of this Section 15 14 shall survive payment or satisfaction of payment of amounts owing with respect to the Notes.
Appears in 1 contract
Samples: Credit Agreement (Interpool Inc)
Expenses and Indemnities. Whether or not any the transactions contemplated hereby shall be consummatedLoan is made hereunder, the Borrowers Borrower agrees to pay: reimburse the Lender upon demand for all reasonable expenses paid or incurred by either the Lender or Xxxxxx (aincluding filing and recording costs and fees and expenses of legal counsel and financial advisor of each of Lender and Xxxxxx) the cost of producing and reproducing this Agreement and other instruments mentioned herein; (b) the reasonable fees, expenses and disbursements of the Agent and its counsel (as well as any outside counsel for the Lenders) incurred in connection with the preparation of this Agreement preparation, review, execution, delivery, amendment, modification, interpretation, collection and other instruments mentioned herein, each funding hereunder, the addition or removal of Collateral pursuant to Section 5 and all amendments, modifications, approvals, consents or waivers hereto or hereunder, and (c) all reasonable out-of-pocket expenses (including attorneys' fees and costs incurred by the Agent and by each Lender in connection with (i) the enforcement of this Agreement, the Loan Documents and the Notes against any Borrower and/or the Parent Guarantor or the administration thereof after the occurrence and during the continuance of a Default or Event of Default, and (ii) in connection with any workout, amendment or waiver requested by any Borrower or the Parent Guarantor, litigation, proceeding or dispute (other than one between two or more Lenders and other than one in which any Borrower commences proceedings against the Lenders or any Lender and prevails therein), whether arising hereunder or otherwise, in any way work on possible financing activities related to the Agent's or any Lender's relationship with any Borrower hereunderBorrower. The amount Borrower agrees to pay, and save the Lender harmless from all liability for, any stamp or other taxes which may be payable with respect to the execution or delivery of all such expenses shall, until paid, bear interest at the rate applicable to principal hereunder (including any Default Rate) and be an obligation secured by any collateralLoan Documents. After the occurrence and during the continuance of an Event of Default, the Borrowers shall pay the costs of any field audit examinations that the Agent in its discretion may conduct. Each The Borrower further agrees to indemnify and hold the Lender harmless from any loss or expense which may arise or be created by the acceptance of instructions for making Loans or disbursing the proceeds thereof. The Borrower agrees to indemnify and hold the Lender and Xxxxxx harmless from any obligation to pay any fees or commissions to any broker or finder in connection with the transactions contemplated in the Loan Documents. The Borrower shall indemnify and hold harmless the Lender and its respective Affiliates, and each such Person’s respective officers, directors, employees, attorneys, agents and representatives (each, an “Indemnified Parties Person”), from and against any and all suits, actions, proceedings, claims, damages, losses, settlement payments, obligations, liabilities, claims, actions or causes of action, and reasonable costs liabilities and expenses incurred(including reasonable attorneys’ fees and disbursements and other costs of investigation or defense, sufferedincluding those incurred upon any appeal) that may be instituted or asserted against or incurred by any such Indemnified Person as the result of any representation or warranty made by the Borrower in the Loan Documents or in any certificate, sustained statement, report or required other writing furnished by the Borrower to be paid by an Indemnified Party by reason of the Lender or resulting from any litigation, proceeding or dispute commenced or threatened against Xxxxxx pursuant to the Agent, Loan Documents or any Lender arising out other instrument, document or agreement shall prove to have been false or misleading. The obligations of the transactions contemplated hereby unless such damages, losses, settlement payments, obligations Borrower under this Section 10.2 shall survive any termination or liabilities were caused by the gross negligence or willful misconduct expiration of the Indemnified Party. In any investigation, proceeding or litigation, or Discretionary Facility and payment in full of the preparation therefor, the Agent shall be entitled to select its own counsel and, to the extent no conflict of interest arises, counsel for the Lenders (being the same counsel as counsel to the Agent) and, in addition to the foregoing indemnity, each Borrower agrees to pay promptly the reasonable fees and expenses of such counsel. The covenants of this Section 15 shall survive payment or satisfaction of payment of amounts owing with respect to the NotesObligations.
Appears in 1 contract