Certain Fees and Expenses Commitment Fee Commencement Irrevocable Transfer Agent Instructions Sample Clauses
This clause outlines the borrower's obligation to pay specific fees and expenses associated with the agreement, including a commitment fee, and addresses the process for issuing irrevocable instructions to the transfer agent at the start of the arrangement. In practice, it details the types of fees due, such as administrative or legal costs, and requires the borrower to provide instructions to the transfer agent to ensure the lender can receive shares or payments as stipulated. The core function of this clause is to ensure that all necessary costs are covered and that the lender's rights to receive payments or securities are secured from the outset, thereby reducing administrative delays and clarifying financial responsibilities.
Certain Fees and Expenses Commitment Fee Commencement Irrevocable Transfer Agent Instructions. Certain Fees and Expenses. Each party shall bear its own fees and expenses related to the transactions contemplated by this Agreement; provided, however, that the Company, (1) on or prior to the Closing Date, shall have paid to the Investor, by wire transfer of immediately available funds to an account designated by the Investor prior to the date of this Agreement, in an amount of up to $30,000 as reimbursement for the reasonable and documented fees and disbursements of the Investor’s legal counsel incurred by the Investor prior to the Closing (the “Initial Investor Expense Reimbursement”), and (2) within ten (10) Business Days after each Representation Date (provided a Future Purchase Suspension is not then in effect), shall have paid to the Investor, by wire transfer of immediately available funds to an account designated by the Investor, an additional $3,000 per fiscal quarter as reimbursement for the reasonable fees and disbursements of the Investor’s legal counsel incurred by the Investor in connection with the Investor’s ongoing due diligence and review of deliverables subject to Section 6.17 (the “Additional Investor Expense Reimbursement”), in each case in connection with the transactions contemplated by this Agreement and the Registration Rights Agreement.
Certain Fees and Expenses Commitment Fee Commencement Irrevocable Transfer Agent Instructions