Expenses; Repayment Assurances Clause Samples
The 'Expenses; Repayment Assurances' clause defines the parties' obligations regarding the payment and reimbursement of costs incurred under the agreement. Typically, it specifies which party is responsible for covering certain expenses, such as legal fees, administrative costs, or other outlays related to the contract's execution, and may require one party to provide assurances or guarantees that these expenses will be repaid. This clause ensures that financial responsibilities are clearly allocated and that parties have confidence in being reimbursed for agreed-upon costs, thereby reducing the risk of disputes over payment.
Expenses; Repayment Assurances. No provision of this Agreement shall require the Rights Agent to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder or in the exercise of its rights if there shall be reasonable grounds for believing that repayment of such funds or adequate indemnification against such risk or liability is not reasonably assured to it.