Common use of Settlement Expenses Clause in Contracts

Settlement Expenses. El Paso shall pay all reasonable expenses of administration of the settlement described in this Agreement (not to include any Party’s attorneys’ fees except as provided herein in Paragraph 9.4), any expenses incurred in providing parens patriae notice (if required), expenses for any appraisals of the Collateral required by the terms of this Agreement or the Security Documents in connection with the substitution or addition of Collateral, expenses of the Independent Consultant under Paragraph 8.3(b), any costs and expenses reimbursable under the terms of the Security Documents, and expenses of notice of the proposed settlement pursuant to a notice program approved by the Class Action Court. All such expenses shall be billed to the Settlement Fund c/o the Designated Representative. The Designated Representative shall prepare invoices to El Paso for such expenses as they are billed to the Settlement Fund. El Paso shall within thirty (30) Business Days of receipt of any such invoices, deposit in the Escrow Account monies sufficient to cover any of the expenses that the Designated Representative has invoiced and, prior to the Effective Date, promptly thereafter instruct the Escrow Agent to release sufficient monies to the Designated Representative to enable the Designated Representative to pay the invoiced expenses. Any late fees incurred as a result of El Paso’s failure to pay any invoices within ten (10) Business Days after receipt of the same from the Designated Representative shall be borne by El Paso.

Settlement Expenses. El Paso shall pay all reasonable expenses of administration of the settlement described in this Agreement (not to include any Party’s 's attorneys’ ' fees except as provided herein in Paragraph 9.4), any expenses incurred in providing parens patriae notice (if required), expenses for any appraisals of the Collateral required by the terms of this Agreement or the Security Documents in connection with the substitution or addition of Collateral, expenses of the Independent Consultant under Paragraph 8.3(b), any costs and expenses reimbursable under the terms of the Security Documents, and expenses of notice of the proposed settlement pursuant to a notice program approved by the Class Action Court. All such expenses shall be billed to the Settlement Fund c/o the Designated Representative. The Designated Representative shall prepare invoices to El Paso for such expenses as they are billed to the Settlement Fund. El Paso shall within thirty (30) Business Days of receipt of any such invoices, deposit in the Escrow Account monies sufficient to cover any of the expenses that the Designated Representative has invoiced and, prior to the Effective Date, promptly thereafter instruct the Escrow Agent to release sufficient monies to the Designated Representative to enable the Designated Representative to pay the invoiced expenses. Any late fees incurred as a result of El Paso’s 's failure to pay any invoices within ten (10) Business Days after receipt of the same from the Designated Representative shall be borne by El Paso.