Common use of Payment of Fees and Premium Clause in Contracts

Payment of Fees and Premium. (a) LEGAL FEES. On the Closing Date, Arcadia Financial shall pay or cause to be paid legal fees and disbursements incurred by Financial Security in connection with the issuance of the Note Policy up to an amount not to exceed $20,000.00, plus disbursements. (b) RATING AGENCY FEES. The initial fees of S&P and Moody's with respect to the Notes and the Transaction shall be paid by Arcadia Financial in full on the Closing Date. All periodic and subsequent fees of S&P or Moody's with respect to, and directly allocable to, the Notes shall be for the account of, shall be billed to, and shall be paid by Arcadia Financial. The fees for any other rating agency shall be paid by the party requesting such other agency's rating, unless such other agency is a substitute for S&P or Moody's in the event that S&P or Xxxxx'x is no longer rating the Notes, in which case the cost for such agency shall be paid by Arcadia Financial. (c) AUDITORS' FEES. In the event that Financial Security's auditors are required to provide information or any consent in connection with the Registration Statement fees therefor shall be paid by Arcadia Financial. Any additional fees incurred by Financial Security after the Closing Date in respect of any additional consents shall be paid by Arcadia Financial on demand.