Common use of REIMBURSEMENT OF REMARKETING AGENT’S EXPENSES Clause in Contracts

REIMBURSEMENT OF REMARKETING AGENT’S EXPENSES. If the sale of the Remarketed Securities provided for herein is not consummated because any condition to the obligations of the Remarketing Agents set forth in Section 5 hereof is not satisfied, because of any termination pursuant to Section 12 hereof or because of any refusal, inability or failure on the part of the Company to perform any of its agreements herein or comply with any provision hereof other than by reason of a default by any of the Remarketing Agents, the Company will reimburse the Remarketing Agents severally through the Representatives on demand for all out-of-pocket expenses (including reasonable fees and disbursements of counsel) that shall have been incurred by them in connection with the proposed remarketing of the Remarketed Securities.