Common use of Payment of valuation expenses Clause in Contracts

Payment of valuation expenses. Without prejudice to the generality of the Borrowers' obligations under Clauses 19.3, 19.4 and 20.3, the Borrowers shall, on demand, pay the Lender the amount of the fees and expenses of any shipbroker or expert instructed by the Lender under this Clause and all legal and other expenses incurred by the Lender in connection with any matter arising out of this Clause. Provided no Event of Default or Potential Event of Default has occurred and is continuing, the Borrower shall only be required to pay such fees and expenses for one valuation per Ship in each calendar year.

Payment of valuation expenses. Without prejudice to the generality of the Borrowers' obligations under Clauses 19.320.2, 19.4 20.3 and 20.321.3, the Borrowers shall, on demand, pay the Lender the amount of the fees and expenses of any shipbroker or expert instructed by the Lender under this Clause and all legal and other expenses incurred by the Lender in connection with any matter arising out of this Clause. Provided no Event of Default or Potential Event of Default has occurred and is continuing, the Borrower shall only be required to pay such fees and expenses for one valuation per Ship in each calendar year.