Lender Expenses definition
Examples of Lender Expenses in a sentence
Any amounts so paid or deposited by Agent shall constitute Lender Expenses, shall constitute part of the Obligations, shall be immediately due and payable, and shall bear interest at the then applicable rate hereinabove provided for the Loans, and, for the avoidance of doubt, shall be secured by the Collateral.
Agent shall apply all payments received with respect to the Obligations, first, pro rata to pay any fees, indemnities, Lender Expenses or expense reimbursements then due to Agent or Lender, second, pro rata to pay interest then due and payable on any Loans, third, to prepay or repay principal on the Loans, and fifth, to the payment of any other Obligation due to any Secured Party from the Borrower.
Fees, expenses and the Applicable Premium that are required to be paid by Borrower pursuant to the Loan Documents (including Lender Expenses) but are not paid when due shall bear interest until paid at a rate equal to the highest rate applicable to the Obligations inclusive of the Default Rate.