Common use of Payment or Reimbursement of Expenses Clause in Contracts

Payment or Reimbursement of Expenses. The Borrower shall pay or reimburse OPIC, upon request, OPIC’s reasonable out-of-pocket costs and expenses incurred in connection with the negotiation, preparation, execution and delivery, and implementation of this Agreement, the Notes, and the other Financing Documents, including (i) the fees and expenses of outside legal counsel and business consultants (it being understood that OPIC shall consult with the Sponsors prior to engaging any such legal counsel or consultants but shall not require the Sponsors’ consent to engage any such persons) and (ii) the costs of communications, the preparation of any documents, the authentication, registration and recordation of any of the Financing Documents, the preparation of bound volumes of the Financing Documents for OPIC’s use, and the termination of the Liens created pursuant to the Security Documents. The Borrower shall also reimburse OPIC upon demand for all costs and expenses, including attorneys’ fees and expenses and the cost of travel incurred by OPIC in preserving in full force and effect or enforcing its rights hereunder or under any of the Financing Documents and all reasonable costs and expenses, including attorneys’ fees and expenses and the cost of travel incurred by OPIC in connection with the modification, amendment or waiver of any provision of any such document, including release of the Liens in favor of OPIC arising under the Security Documents.

Appears in 2 contracts

Samples: Loan Agreement (Interoil Corp), Loan Agreement (Interoil Corp)

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Payment or Reimbursement of Expenses. The Borrower Company shall pay or reimburse OPIC, promptly upon receipt of OPIC's request, OPIC’s 's reasonable out-of-pocket costs and expenses incurred in connection with the negotiation, preparation, execution and delivery, and implementation of this Agreement, the Notes, and the other Financing Documents, including including, without limitation, (i) the i)the reasonable fees and expenses of outside legal counsel and business consultants (it being understood that OPIC shall consult with the Sponsors prior to engaging any such legal counsel or consultants but shall not require the Sponsors’ consent to engage any such persons) and (ii) the ii)the reasonable costs of communicationscommunications and travel expenses, the preparation of any documents, the authentication, registration and recordation of any of the Financing Documents, the preparation of bound volumes of the Financing Documents for OPIC’s 's use, and the termination of the Liens created pursuant to the Security Documents. The Borrower Company shall also reimburse OPIC OPIC, promptly upon demand demand, for all reasonable costs and expensesexpenses (including, including without limitation, reasonable attorneys' fees and expenses and the reasonable cost of travel travel) incurred by OPIC in preserving in full force and effect or enforcing its rights hereunder or under any of the Financing Documents and all reasonable costs and expenses, including attorneys’ fees and expenses and the cost of travel or incurred by OPIC in connection with the modification, amendment or waiver of any provision of any such document, including but not limited to release of the Liens in favor of OPIC arising under the Security Documents.

Appears in 1 contract

Samples: Finance Agreement (Pioneer Group Inc)

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Payment or Reimbursement of Expenses. The Borrower Company shall pay or reimburse OPIC, upon request, OPIC’s 's reasonable out-of-pocket costs and expenses incurred in connection with the Commitment Letter and the negotiation, preparation, execution and delivery, and implementation of this Agreement, the Notes, and the other Financing Documents, including including, without limitation, (i) the reasonable fees and expenses of outside legal counsel counsel, business advisors and business consultants (it being understood that OPIC shall consult with the Sponsors prior to engaging any such legal counsel or consultants but shall not require the Sponsors’ consent to engage any such persons) and consultants, (ii) the costs of communicationsreproducing and binding post-closing document transcripts (including up to five OPIC copies), the preparation of any documents, the authentication, registration and recordation of any of the Financing Documents, the preparation of bound volumes of the Financing Documents for OPIC’s use(iii) travel expenses, and the termination of the Liens created pursuant to the Security Documents. The Borrower shall also reimburse OPIC upon demand for all (iv) other such out-of-pocket expenses incurred by OPIC, including any reasonable costs and expensesexpenses (including, including without limitation, reasonable attorneys' fees and expenses and the reasonable cost of travel travel) incurred by OPIC in preserving in full force and effect or enforcing its rights hereunder or under any of the Financing Documents and all reasonable costs and expenses, including attorneys’ fees and expenses and the cost of travel or incurred by OPIC in connection with the modification, amendment or waiver of any provision of any such document, including but not limited to release of the Liens in favor of OPIC arising under the Security Documents. Such payment shall be due and payable within 30 days after the Company's receipt of OPIC's request therefor from time to time and upon the execution of the Finance Agreement, PROVIDED that (x) to the extent of any portion of the Facility Fee that has been paid to OPIC, travel expenses incurred by OPIC staff shall be reimbursed out of such fee and (y) costs and expenses related to enforcement of any right of OPIC under any Financing Document shall be due and payable upon demand.

Appears in 1 contract

Samples: Finance Agreement (Pioneer Group Inc)

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