Common use of Expenses/Losses Clause in Contracts

Expenses/Losses. In the event that any reasonable legal expenses or other expenses for the preservation of the collateral for the Loan or for the enforcement of the Loan are incurred by Lead Lenders in connection with the Loan or on or after or in connection with the occurrence of an Event of Default or the enforcement of any of the Loan Documents (including fees of counsel and other expenses), Lead Lenders shall bear and advance all such costs. Upon receipt of reimbursement for such expenses from Borrowers or any other person, Lead Lenders shall be entitled to retain such reimbursement.

Appears in 9 contracts

Samples: Intercreditor Agreement (Vestin Fund Ii LLC), Intercreditor Agreement (Vestin Realty Mortgage II, Inc), Intercreditor Agreement (Vestin Fund I LLC)

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Expenses/Losses. In the event that any reasonable legal expenses or other expenses for the preservation of the collateral for the Loan or for the enforcement of the Loan are incurred by Lead Lenders Lender in connection with the Loan or on or after or in connection with the occurrence of an Event of a Default or the enforcement of any of the Loan Documents (including fees of counsel and other expenses), Lead Lenders Lender shall bear and advance all such costs. Upon receipt of reimbursement for such expenses from Borrowers Borrower or any other person, Lead Lenders Lender shall be entitled to retain reach such reimbursement.

Appears in 3 contracts

Samples: Intercreditor Agreement (Vestin Fund Ii LLC), Intercreditor Agreement (Vestin Realty Trust II, Inc), Intercreditor Agreement (Vestin Fund Iii LLC)

Expenses/Losses. In the event that any reasonable legal expenses or other expenses for the preservation of the collateral for the Loan or for the enforcement of the Loan are incurred by Lead Lenders Lender in connection with the Loan or on or after or in connection with the occurrence of an Event of a Default or the enforcement of any of the Loan Documents (including fees of counsel and other expenses), Lead Lenders Lender shall bear and advance all such costs. Upon receipt of reimbursement for such expenses from Borrowers Borrower or any other person, Lead Lenders Lender shall be entitled to retain such reimbursement.

Appears in 3 contracts

Samples: Intercreditor Agreement (Vestin Fund Ii LLC), Intercreditor Agreement (Vestin Fund Iii LLC), Intercreditor Agreement (Vestin Realty Trust II, Inc)

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Expenses/Losses. In the event that any reasonable legal expenses or other expenses for the preservation of the collateral for the Loan or for the enforcement of the Loan are incurred by Lead Lenders in connection with the Loan or on or after or in connection with the occurrence of an Event of Default or the enforcement of any of the Loan Documents (including fees of counsel and other expenses), Lead Lenders shall bear and advance all such costs. Upon receipt of reimbursement for such expenses from Borrowers or any other person, Lead Lenders shall be entitled to retain such reimbursement.

Appears in 3 contracts

Samples: Intercreditor Agreement (Vestin Realty Mortgage I, Inc.), Intercreditor Agreement (Vestin Fund Iii LLC), Intercreditor Agreement (Vestin Realty Mortgage II, Inc)

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