Common use of Loan Expenses Clause in Contracts

Loan Expenses. In making the first disbursement, Lender may, at its option, deduct from the proceeds of that disbursement a sum equal to the aggregate of the following, to the extent Lender has knowledge of it and demand has been made on Lender at the time of the deposit: all expenses specifically incurred in connection with the Loan or the preparation, execution, and delivery of the Loan Documents, including, but not limited to, recording costs and expenses, transfer and other taxes (if any), recording, and notary charges, and all other similar, usual, or customary loan closing charges and expenses; and any other expenses that have been approved by Lender in writing; and Lender will, for the benefit of Borrower, pay those amounts over to the respective parties on whose behalf the demands will have been received by Lender. Borrower will pay directly any expenses in connection with the Loan not so paid by Lender, including, without limitation, any of the expenses specified above, and will hold Lender free from any cost, liability, or obligation of any nature in connection with it, including reasonable attorney fees incurred by Lender. Borrower further agrees to pay on demand all out-of-pocket costs and expenses reasonably incurred by Lender including, without limitation, the fees and disbursements of Lender's outside counsel, in connection with: (i) the administration of the Loan, including, without limitation, all approvals or consents given or contemplated to be given under the Loan Documents, all amendments to the Loan Documents entered into by Lender or requested by any Loan Party, and (ii) the enforcement of any rights or remedies under the Loan Documents, whether any action or proceeding is commenced, or the protection of the security, or interests of Lender under the Loan Documents. All costs and expenses, together with interest at Loan rate, will form a part of the indebtedness and will be secured by the Security Documents.

Loan Expenses. Borrower agrees to pay to Lender on or before the date of this Agreement an amount equal to One Hundred Ten Thousand and 00/100 Dollars ($110,000.00), which will be fully earned as of the Commitment Date ("Loan Fee"). In making the first disbursement, Lender may, at its option, deduct from the proceeds of that disbursement a sum equal to the aggregate of the following, to the extent Lender has knowledge of it and demand has been made on Lender at the time of the deposit: all expenses specifically incurred in connection with the Loan or the preparation, execution, and delivery of the Loan Documents, including, but not limited to, fees and disbursements of Lender's outside counsel and of Lender's consultants, brokers charges, commitment fees, other fees or commissions, recording costs and expenses, transfer and other taxes (if any), surveys, appraisal fees, title and hazard insurance premiums, recording, notary, and notary escrow charges, and all other similar, usual, or customary loan closing charges and expenses; all costs and expenses incurred in the review and approval of the matters set forth in Exhibit C (if attached); and any other budgeted expenses that have been approved by Lender in writing; and Lender will, for the benefit of Borrower, pay those amounts over to the respective parties on whose behalf the demands will have been received by Lender. Borrower will pay directly any expenses in connection with the Loan not so paid by Lender, including, without limitation, any of the expenses specified above, and will hold Lender free from any cost, liability, or obligation of any nature in connection with it, including reasonable attorney fees incurred by Lender. Borrower further agrees to pay on demand all out-of-of- pocket costs and expenses reasonably incurred by Lender including, without limitation, the fees and disbursements of Lender's outside counsel, in connection with: (i) the administration of the Loan, including, without limitation, all approvals or consents given or contemplated to be given under the Loan Documents, all amendments to the Loan Documents entered into by Lender or requested by any Loan Party, and (ii) all title insurance policies and endorsements required by Lender; and the enforcement of any rights or remedies under the Loan Documents, whether any action or proceeding is commenced, or the protection of the security, or interests of Lender under the Loan Documents. All Any costs and expenses, together with interest at Loan ratethe interest rate set forth in the Note, will form a part of the indebtedness and will be secured by the Security Documents.

Loan Expenses. In making Borrower shall pay (a) all costs of closing the first disbursement, Lender may, at its option, deduct from the proceeds of that disbursement a sum equal to the aggregate of the following, to the extent Lender has knowledge of it Loan and demand has been made on Lender at the time of the deposit: all expenses specifically incurred in connection of Lender with the Loan or the preparation, execution, and delivery of the Loan Documents, including, but not limited to, recording costs and expenses, transfer and other taxes (if any), recording, and notary charges, and all other similar, usual, or customary loan closing charges and expenses; and any other expenses that have been approved by Lender in writing; and Lender will, for the benefit of Borrower, pay those amounts over to the respective parties on whose behalf the demands will have been received by Lender. Borrower will pay directly any expenses in connection with the Loan not so paid by Lenderrespect thereto, including, without limitation, all legal fees and costs incurred by Lender in conjunction with the Loan, (b) all costs, fees and expenses that are identified in the Schedule to be paid by Borrower whether due to Lender, or to any third party, and (c) all costs and expenses incurred subsequent to the closing of the expenses specified above, and will hold Lender free from any cost, liability, or obligation of any nature Loan in connection with itthe advance, including reasonable attorney fees incurred by Lender. Borrower further agrees to pay on demand all out-of-pocket costs and expenses reasonably incurred by Lender includingdisbursement, without limitationadministration, the fees and disbursements of Lender's outside counselamendment, in connection with: (i) the administration forbearance or satisfaction of the Loan, including, without limitation, all approvals escrow fees, recording expenses, survey costs, title insurance premiums, taxes, expenses of collection or consents given foreclosure and similar items (including, without limitation, attorneys’ fees regardless of whether litigation is commenced). In the event of the commencement of a bankruptcy proceeding by or contemplated against Borrower or otherwise involving the Collateral, Lender shall, to the extent not already provided for herein, be given under entitled to recover, and Borrower shall be obligated to pay, Xxxxxx’s attorneys’ fees and costs incurred in connection with: (i) any determination of the Loan Documents, all amendments applicability of the bankruptcy laws to the terms of the Loan Documents entered into by Lender or requested by any Loan Party, and Lender’s rights thereunder; (ii) the enforcement of any attempt by Lender to enforce or preserve its rights or remedies under the Loan Documents, whether any action or proceeding is commencedbankruptcy laws, or to prevent Borrower or any other person from seeking to deny Lender its rights thereunder; (iii) any effort by Lender to protect, preserve or enforce its rights against the protection of the securityCollateral, or interests seeking authority to modify the automatic stay of Lender 11 USC Section 362, or otherwise seeking to engage in such protection, preservation or enforcement; or (iv) any proceeding(s) arising under the Loan Documentsbankruptcy laws, or arising in or related to a case under the bankruptcy laws. All costs Borrower shall pay all Lender costs, fees and expenses, together with interest at Loan rate, will form expenses within ten (10) days after its receipt of a part of the indebtedness and will be secured by the Security Documentswritten request therefor.