Separate Reimbursement Agreement Clause Samples
A Separate Reimbursement Agreement is a contractual provision that establishes a distinct arrangement for one party to reimburse another for specific costs or expenses incurred. Typically, this clause outlines the types of expenses covered, the process for submitting reimbursement requests, and any limitations or conditions that apply, such as requiring prior approval or setting maximum amounts. Its core practical function is to ensure that financial responsibilities for certain expenditures are clearly allocated and managed outside the main contract, thereby preventing disputes and providing clarity on how and when reimbursements will occur.
Separate Reimbursement Agreement. In the event the LC Issuer enters into a separate reimbursement agreement with the Borrower covering the Facility LCs and the terms of such reimbursement agreement conflict with or contradict the terms of this Agreement, the terms of this Agreement shall control.
Separate Reimbursement Agreement. If the Issuing Bank enters into a separate reimbursement agreement with the Borrowers, and the terms of such reimbursement agreement conflict with or contradict the terms of this Agreement, the terms of this Agreement shall control. Mitigation Obligations; Replacement of Lenders .
Separate Reimbursement Agreement. In the event the Lender enters into a separate continuing reimbursement agreement with the Borrower, such reimbursement agreement shall not apply to the Facility LCs.
Separate Reimbursement Agreement. In the event the L/C Issuer enters into a separate reimbursement agreement with the Borrower covering the Letters of Credit and the terms of such reimbursement agreement conflict with or contradict the terms of this Agreement, the terms of this Agreement shall control.
