Common use of Payments by Borrower and Creditor Clause in Contracts

Payments by Borrower and Creditor. Each of the Borrower and the Creditor jointly and severally agrees to pay to the Collateral Agent on demand all costs and expenses of the Collateral Agent and the Senior Lenders, and the fees and disbursements of counsel (including allocated costs of internal counsel), in connection with the enforcement or attempted enforcement of, and preservation of rights or interests under, this Agreement, including any losses, costs and expenses sustained by the Collateral Agent and any Senior Lender as a result of any failure by the Creditor to perform or observe its obligations contained in this Agreement.