Losses and Expenses. 2.24.1 The Owner shall remain responsible, as between the Owner and the Servicer, for losses related to the Owner’s investment in the Mortgage Loans. Losses of the type referred to above for which the Owner shall remain responsible include, but are not limited to: credit losses, special hazard insurance premiums, earthquake losses, losses resulting from the absence or inadequacy of hazard insurance or flood insurance for a Mortgaged Property in accordance with Applicable Requirements, foreclosure losses, REO Property losses, losses on Mortgage Loans in default or in bankruptcy, and losses in connection with the Soldiers and Sailors Civil Relief Act (and any successor to such Act).
2.24.2 In the event withdrawals from the Control Account or Escrow Accounts are insufficient to reimburse the Servicer pursuant to this Agreement the Owner shall promptly upon receipt of an invoice reimburse the Servicer for Servicing Advances and the following expenses (“Expenses”): (i) any out-of-pocket expense the Servicer incurs with the prior approval of the Owner in connection with its servicing and administrative obligations set forth in this Agreement to the extent such expense is not ordinary to the servicing function (but not including salaries, rent and other general operating expenses of the Servicer normally classified as overhead); (ii) expenses that the Owner has expressly agreed to pay or be liable for hereunder; and (iii) expenses incurred in connection with the performance by the Servicer at the request of the Owner of any activity that is not specifically required to be performed by the Servicer under this Agreement and is not reasonably ancillary to any specific requirements of the Owner under this Agreement. Except as otherwise expressly provided in this Agreement, each party shall pay its own expenses incurred in connection with the preparation of and performance under this Agreement, including its own legal fees and expenses of preparing and delivering the notices, documents, reports, accountings and any other information required of it hereunder.
2.24.3 On a monthly basis, following receipt of an invoice from the Servicer, the Owner shall promptly reimburse the Servicer for outstanding Servicing Advances, Expenses and Servicing Fees as provided in Section 2.7.
2.24.4 The Owner shall be solely responsible for all guaranty fees, credit enhancement fees, custodial fees (and related shipping costs), trustee fees, and costs to record assignments. Except as othe...
Losses and Expenses. Owner shall reimburse Servicer for the following reimbursable expenses (“Reimbursable Expenses”): expenses incurred in connection with the performance by Servicer at the request of Owner of any activity that is not specifically required to be performed by Servicer under this Agreement and is not reasonably ancillary to any specific requirements of Owner under this Agreement. Except as otherwise expressly provided in this Agreement, each Party shall pay its own expenses incurred in connection with the preparation of and performance under this Agreement, including, without limitation, its own legal fees and expenses of preparing and delivering the notices, documents, reports, accountings and any other information required of it hereunder.
(1) If applicable, Owner shall be solely responsible for all guaranty fees, credit enhancement fees, custodial fees (and related shipping costs), and trustee fees. Except as otherwise expressly set forth in this Agreement, Servicer shall be solely responsible for the direct and indirect internal and administrative costs associated with its obligations as subservicer of the Mortgage Loans hereunder, said costs to include but not be limited to: personnel, facilities; supplies; mailing and electronic data processing) system expenses, regardless of whether Servicer elects to contract with third party vendors to perform all or any portion of such internal and administrative functions. Servicer shall pay interest due to Mortgagors on amounts held in tax and insurance escrow accounts in accordance with Accepted Servicing Practices. The Owner shall reimburse the Servicer for any costs or expenses incurred to transfer tax service contracts and flood service contracts or to obtain contracts that are not existing or transferable to the Servicer.
Losses and Expenses. The Guarantor hereby agrees to defend, indemnify and hold harmless each Guaranteed Creditor from and against any losses, costs or expenses (including, without limitation, reasonable attorneys’ fees and litigation costs) incurred by such Guaranteed Creditor in connection with any Guaranteed Creditor’s collection of any sum due hereunder or its enforcement of its and the other Guaranteed Creditors’ rights hereunder.
Losses and Expenses. We may require adequate security or invoke other security measures to protect the Credit Union from all losses and expenses incurred if we follow your instructions. You hereby agree to reimburse us for all losses and expenses incurred if we follow your instructions (whether your instructions or those of your Authorized Agent, Representative or Signer). You agree to reimburse us for any damages, losses, liabilities, expenses and fees (including but not limited to reasonable attorneys’ fees) that we incur in connection with your Account(s) if we take an action in accordance with your, or what purports to be your, oral, written or electronic instructions.
Losses and Expenses. Lender and Participant shall share in accordance with their respective Percentage Interests any losses sustained in connection with the Loan and all Expenses incurred hereafter by Lender. All such cost and expenses to be paid within three (3) business days of notification of the amount due. Lender shall use best efforts to recover from Borrower all Expenses that are reimbursable from Borrower under the Loan Documents and shall remit Participant‘s share of such Expenses promptly after receipt. However, in the event of acceleration by default or otherwise, the Participant shall receive 100% of the payments received by the Lender until the Participant’s investment and costs have been paid in full.
Losses and Expenses. (a) Subject to Section 2.3(b), Servicer shall remain responsible for all losses and costs directly associated with the servicing of the Mortgage Loans (including, without limitation, net losses in connection with foreclosure actions and ownership of Mortgaged Property after foreclosure, pool insurance premiums, special hazard insurance premiums, trustees fees, custodial fees, and Sevicemembers Civil Relief Act losses, but excluding compensating interest shortfalls due to the timing of prepayments pursuant to the terms of the applicable Servicing Agreements, for which Interim Servicer shall be responsible), except for (i) all or any portion of such losses and costs resulting from the failure of Interim Servicer to comply with Applicable Requirements or otherwise perform or observe its obligations under this Agreement, for which losses and costs Interim Servicer shall remain responsible; and (ii) any fact or circumstance in respect of which Servicer is entitled to indemnification by Interim Servicer under this Agreement or under the Purchase Agreement.
(b) Interim Servicer shall be responsible for the direct and indirect general and administrative costs and expenses associated with the servicing of the Mortgage Loans, including, without limitation, Interim Servicer’s personnel, facilities, supplies, postage and EDP system expenses, regardless of whether Interim Servicer elects to contract with third party vendors to perform all or any portion of such general and administrative functions.
Losses and Expenses all compensatory, exemplary or punitive damages, fines, charges, costs, expenses, lost profits, reasonable fees of attorneys and other engaged professionals, court costs, settlement amounts, judgments, costs of or resulting from delays, financing, costs of advertising material and media time/space, and costs of changing, substituting or replacing the same, and any and all expenses of recall, refunds, compensation, public notices and other such amounts incurred in connection with the matters described in Section 12. MATERIAL EVENT OF DEFAULT - an Event of Default which constitutes a substantial deviation from the performance required. MULTI-UNIT MANAGER(S) - the individual(s) designated as described in Section 5.E who shall be solely dedicated to the management and supervision of the Restaurants. NSO-TEAM - a "new store opening team" consisting of Friday's employees and certain of Franchisee's employees to whom Friday's has consented which shall perform the functions described in Section 5.I. OPERATOR - an individual designated as described in Section 5.B. who shall devote his full time and best efforts to the management and supervision of (i) Developer's duties and obligations hereunder; and (ii) the operation of the Restaurants. OTHER CONCEPTS - Retail, wholesale, restaurant, bar, tavern, take-out or any other type of business involving the production, distribution or sale of food products, beverages, services, merchandise or other items in connection with the use of one, some or all of the Proprietary Marks or other names or marks, but utilizing a system other than the System pursuant to which a T.G.I. Friday's Restaurant is operated. OWNER - the party (if other than the Developer) owning or controlling the Site and being a party (with Developer) to the Occupancy Contract. PAYMENTS - all transfers of funds from Developer to Friday's including, without limitation, the Development Fee and reimbursement of expenses. PERMANENT DISABILITY - any physical, emotional or mental injury, illness or incapacity which would prevent the afflicted person from performing his obligations hereunder for more then ninety (90) consecutive days as determined by a licensed physician selected by Friday's. PRELIMINARY SITE CONSENT - written communication from Friday's to Developer notifying Developer that a proposed site has received the consent of the Friday's Site Review Committee. PRINCIPAL(S) - ___________________, ___________________, __________________ and _________________...
Losses and Expenses. Unless otherwise provided by this Agreement, Servicer and Company shall each bear its own expenses, including legal expenses, relating to the execution of and compliance under this Agreement.
Losses and Expenses. The terms "Losses" and "Expenses" as used in ------------------- this Article IX are not limited to matters asserted by third parties against Seller or Purchaser, but include Losses and Expenses incurred or sustained by a Seller Indemnitee or a Purchaser Indemnitee in the absence of third party claims. Payments by a Purchaser Indemnitee of amounts for which such Purchaser Indemnitee is indemnified hereunder, and payments by a Seller Indemnitee of amounts for which such Seller Indemnitee is indemnified, shall not be a condition precedent to recovery. Seller's obligation to a indemnify a Purchaser Indemnitee, and Purchaser's obligation to indemnify a Seller Indemnitee, shall not limit any other rights, including, without limitation, rights of contribution which either party may have under statute or common law.
Losses and Expenses. Participants shall share in accordance with their respective Percentage Interests in each Loan, any losses sustained in connection with such Loan and all expenses incurred hereafter by FIHOP and any other Agent in connection with such Loan, whether or not reimbursable from the Borrower. FIHOP or other Agent shall use reasonable diligence to recover from each Borrower all expenses properly incurred in connection with each Loan which are reimbursable from such Borrower, and FIHOP or other Agent shall promptly remit to each Participant its respective share thereof as received.
