Common use of Parent’s Expenses Clause in Contracts

Parent’s Expenses. Parent, on behalf of itself and its subsidiaries, is responsible and, to the extent that the Services Manager has paid the same on behalf of Parent and its subsidiaries, will reimburse the Services Manager for all reasonable out-of-pocket expenses (but not overhead costs) incurred by the Services Manager in connection with the performance of its obligations under this Agreement, including: (a) fees and expenses in respect of transactions carried out for Parent and its subsidiaries; (b) all bank charges and expenses of any kind incurred in connection with, or incidental to, deposits of cash; (c) any costs, including all travel, accommodation and other reasonable costs, incurred by the Services Manager at the express request of Parent; (d) the cost of faxes and telephone calls properly incurred in the course of carrying out its duties hereunder; (e) all legal and professional expenses (not included in the Services) incurred by the Services Manager in the furtherance of its duties under this Agreement and all legal and other professional expenses properly incurred, or to be incurred, in the preparation of any documents amending the terms and conditions of this Agreement; and (f) any costs and expenses properly incurred by Parent and its subsidiaries in the course of its business and not expressly the responsibility of the Services Manager (to the extent that such amounts have not already been paid).

Parent’s Expenses. Parent, on behalf of itself and its subsidiaries, is responsible and, to the extent that the Services Reinsurance Manager has paid the same on behalf of Parent and its subsidiaries, will reimburse the Services Reinsurance Manager for all reasonable out-of-pocket expenses (but not overhead costs) incurred by the Services Reinsurance Manager in connection with the performance of its obligations under this Agreement, including: (a) fees and expenses in respect of transactions carried out for Parent and its subsidiaries; (b) all bank charges and expenses of any kind incurred in connection with, or incidental to, deposits of cash; (c) any costs, including all travel, accommodation and other reasonable costs, incurred by the Services Reinsurance Manager at the express request of Parent; (d) the cost of faxes and telephone calls properly incurred in the course of carrying out its duties hereunder; (e) all legal and professional expenses (not included in the Services) incurred by the Services Reinsurance Manager in the furtherance of its duties under this Agreement and all legal and other professional expenses properly incurred, or to be incurred, in the preparation of any documents amending the terms and conditions of this Agreement; and (f) any costs and expenses properly incurred by Parent and its subsidiaries in the course of its business and not expressly the responsibility of the Services Reinsurance Manager (to the extent that such amounts have not already been paid).