Expense Deposit Sample Clauses

Expense Deposit. Client shall deposit in advance with Optima a deposit of $1,900.00 (the "Expense Deposit"). In the event of any default by Client hereunder, Optima may, cumulative to all other remedies found at law or in equity, apply or retain all or any part of the Expense Deposit to cure such default or to reimburse Optima for any damages, losses, claims or expenses Optima may have incurred by reason of the default. If at the end of the Term Client shall not be in default under this Agreement, the Expense Deposit, or any balance thereof, shall be returned to Client without interest. The Expense Deposit is not to be considered the final payment due under this Agreement.

Expense Deposit. At Closing, the Fee shall be applied to the costs to be paid by Sellers as contemplated by Section 6 and the balance, if any, shall be refunded to Sellers. In the event the transaction set forth in this Agreement fails to close, the Fee shall be applied as contemplated by the Commitment.

Expense Deposit. Buyer has paid Seller One Hundred Twenty-Five Thousand Dollars ($125,000.00) as a good faith deposit ("Expense Deposit") and for Costs and Expenses incurred by Seller, Ocwen, or a third party on the behalf of either of the foregoing, in connection with the Lawsuit, Loan, and the transactions contemplated by this Agreement ("Purchase Transaction"). At the Closing, in the event that the Costs and Expenses (including a reasonable estimate of any and all Costs and Expenses expected to be incurred following the Closing Date) exceed $125,000, then Buyer and/or Balanced Care, both of which shall have joint and several liability and obligation with respect thereto, shall pay the amount of the excess of the Costs and Expenses over the Expense Deposit to Ocwen. At the Closing, in the event that the Costs and Expenses (including a reasonable estimate of any and all Costs and Expenses expected to be incurred following the Closing Date), are less than $125,000, then the amount of excess of $125,000 over such Costs and Expenses shall be credited to Buyer as part of the Down Payment.

Expense Deposit. Borrower and Foothill acknowledge that Borrower previously has paid to Foothill the sum of $20,000 (the "Expense Deposit") as a --------------- deposit against the Foothill Expenses that may be incurred by Foothill. This Expense Deposit will be applied by Foothill to Foothill Expenses as and when they are incurred. If Foothill concludes for any reason, that it will not make the financing detailed herein available to Borrower, it will return the unused balance of the Expense Deposit. As an illustration, the amount to be deducted from the Expense Deposit may include costs and expenses incurred by auditors and appraisers and in verifying Borrower's records, Foothill's legal expenses in connection with advice concerning the subject financing or with the preparation of the Loan Documents, and any filing and search fees. If, on the other hand, Foothill continues to be prepared to extend the credit detailed herein to Borrower and Borrower declines for any reason, to accept such financial accommodations from Foothill, Foothill shall be entitled to retain the full amount of the Expense Deposit, irrespective of the amount of the Foothill Expenses incurred. Foothill's retention of the balance of the Expense Deposit results from its reasonable endeavor to estimate the added administrative costs incurred and the amount of damage sustained by Foothill as a result of Borrower's decision to decline to proceed with the financing. If the financing is funded, the Expense Deposit will be returned to Borrower after deducting all Foothill Expenses actually incurred by Foothill. Foothill shall not be obligated to segregate the Expense Deposit from its other funds and Borrower is not entitled to receive interest on any portion of the Expense Deposit.

Expense Deposit. Borrower shall have paid to (i) Successor Agent the Expense Deposit, and (ii) Resigning Agent the Fleet Expense Deposit required pursuant to Section 4.5

Expense Deposit. The Lender acknowledges receipt from the Borrower of the sum of Twenty-Five Thousand and No/100 ($25,000.00) Dollars ("EXPENSE DEPOSIT") to be applied to expenses incurred by the Lender, including without limitation all out of pocket due diligence, documentation and closing costs, including costs for services performed by third party professionals (environmental consultants, engineers, etc.) associated with the Lender's due diligence in underwriting, as well as fees and costs of the Lender's outside counsel. These costs are payable at the earlier to occur of Closing or the termination of this Commitment Letter and will be paid to the extent available from the good faith expense deposit and thereafter from the assets of the Borrower, Transeastern and the Principals, who, by execution of the Commitment Letter, agree to be jointly and severally liable for such obligations. If the Loan closes, the Lender shall return any portion of such Expense Deposit which is not applied as provided above, to the Borrower within 45 days after Closing. If the Loan fails to close for reasons beyond Transeastern's and the Principal's control, any remaining portion of the Expense Deposit shall be refunded, less the Lender's out of pocket expenses, personnel costs and a $2,000.00 processing fee.

Expense Deposit. If at any time Borrowers' Excess Availability shall be less than $2,500,000, Borrowers shall promptly, but in any event within five Business Days, pay to Agent an expense deposit in the amount of $25,000 (the "Expense Deposit"), which Expense Deposit shall be held by Agent and may be applied by the Agent to the Lender Group Expenses incurred by the Agent in connection with the exercise of any of its rights under this Agreement, including, without limitation, monitoring Borrowers' compliance with the terms of this Agreement and the other Loan Documents and any appraisals, audits, collateral reviews and field examinations conducted by the Agent during the term of this Agreement. To the extent that the Agent applies any portion of the Expense Deposit to pay any Lender Group Expenses, Borrowers shall deposit with the Agent within ten (10) days after demand by the Agent the amount so applied so that the Expense Deposit is not less than $25,000 after such new deposit. In no event shall prior recourse to the Expense Deposit be a prerequisite to the Agent's right to demand reimbursement for any Lender Group Expenses. The Expense Deposit will not be segregated and may be commingled with other funds of the Agent and Borrowers will not be entitled to receive any interest on the Expense Deposit. The unused portion of the Expense Deposit shall be returned to Administrative Borrower upon the earlier of the Maturity Date or the payment in full in cash of all of the Obligations.

Expense Deposit. The Lender acknowledges receipt from the Borrower of the sum of Twenty-Five Thousand and No/100 ($25,000.00) Dollars ("Expense Deposit") to be applied to expenses incurred by the Lender in accordance with Section 12.3 hereof. These costs are payable at the earlier to occur of Closing or the termination of the Commitment Letter and will be paid to the extent available from the Expense Deposit and thereafter from the assets of the Borrower, Transeastern and the Principals, who, by execution of the Commitment Letter, agree to be jointly and severally liable for such obligations. If the Loan closes, Lender shall return any portion of such Expense Deposit which is not applied as provided above, to the Borrower within 45 days after Closing.

Expense Deposit. In connection with the requesting financing, Borrower understands that it will be necessary for Lender to make certain financial, legal, and collateral investigations and determinations. Borrower and Lend▇▇ acknowledge that Borr▇▇▇▇ ▇▇▇viously has paid to Lender the sum of $25,000 (the "Expense Deposit") as a deposit against the Foothill Expenses that may be incurred by Lend▇▇. ▇▇nder will require an additional $20,000 Expense Deposit. This Expense Deposit will be held by Lend▇▇ ▇▇▇le making such investigations and determinations and will be applied to Foothill Expenses as and when they are incurred. If Lend▇▇ concludes for any reason, that it will not make the financing outlined herein available to Borrower, it will return the unused balance of the Expense