Costs of Collections Clause Samples

The "Costs of Collections" clause establishes that a party responsible for overdue payments must also cover any expenses incurred by the other party in collecting those payments. This typically includes costs such as attorney fees, court filing fees, and other reasonable expenses related to debt recovery efforts. By assigning responsibility for these additional costs to the non-paying party, the clause incentivizes timely payment and ensures that the burden of collection does not fall on the party owed money.
Costs of Collections. If all sums due under this Note are not -------------------- paid, in full, when due, the Company agrees to pay, in addition to the sums due hereunder, all reasonable costs of collection (including reasonable attorneys' fees and expenses), whether or not suit is brought.
Costs of Collections. Lender shall be entitled to collect reasonable attorney's fees and costs from Borrower, as well as other costs and expenses reasonably incurred, in curing any default or attempting collection of any payment due on this Note.
Costs of Collections. Payee shall be entitled to collect reasonable attorney's fees and costs from Maker, as well as other costs and expenses reasonably incurred, in curing any default or attempting collection of any payment due on this Note.

Related to Costs of Collections

  • Costs of Collection In the event that after an Event of Default and during the continuance thereof: (a) the Note or any of the Loan Documents is placed in the hands of an attorney for collection or enforcement or is collected or enforced through any legal proceeding; (b) an attorney is retained to represent Lender in any bankruptcy, reorganization, receivership, or other proceedings affecting creditors’ rights and involving a claim under the Note or any of the Loan Documents or (c) an attorney is retained to protect or enforce the lien or any of the terms of this Agreement, the Pledge Agreement or any of the Loan Documents, then, in any such instance, Borrower shall pay to Lender all reasonable attorneys’ fees, costs and expenses actually incurred in connection therewith, including costs of appeal, together with interest on any judgment obtained by Lender at the Default Rate.

  • Allocations of Collections 35 SECTION 10. Payments..................................................................................................47 SECTION 11.

  • Rights of Collection Exercise on behalf of the Lenders all of its other rights and remedies under this Agreement, the other Loan Documents and Applicable Law, in order to satisfy all of the Borrower's Obligations.

  • Hours of Collection If the Newborn

  • Deposit of Collections The Borrower shall promptly (but in no event later than two Business Days after receipt) deposit or cause to be deposited into the Collection Account any and all Available Collections received by the Borrower, the Servicer or any of their Affiliates.