Common use of Payment of valuation expenses Clause in Contracts

Payment of valuation expenses. Without prejudice to the generality of the Borrower’s obligations under Clauses 19.2, 19.3 and 20.3, the Borrower 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 that (i) so long as no Event of Default shall have occurred and (ii) all valuations of the Ship commissioned by the Lender for the purposes of this Clause 14 confirm that the Borrower has satisfied the test in Clause 14.1, the Borrower shall not be obliged to pay any such fees and expenses in respect of more than 2 valuations of the Ship in any 3-month period.

Payment of valuation expenses. Without prejudice to the generality of the Borrower’s obligations under Clauses 19.2, 19.3 and 20.3, the Borrower shall, on demand, pay the Lender the amount of the reasonable fees and expenses of any shipbroker or expert instructed by the Lender under this Clause and all legal and other expenses reasonably incurred by the Lender in connection with any matter arising out of this Clause 14 Provided that (i) so long as no Event of Default shall have occurred and is continuing and (ii) all valuations of the Ship commissioned by the Lender for the purposes of this Clause 14 confirm that the Borrower has satisfied the test in Clause 14.1, the Borrower shall not be obliged to pay any such fees and expenses in respect of more than 2 valuations 1 valuation of the Ship in any 3-month periodcalendar year.