Common use of Expense Payment Clause in Contracts

Expense Payment. The Buyer shall send an amount equal to the expenses set forth on Exhibit D, as amended from time to time (the “Expenses”), by wire transfer to PCH pursuant to the wire instructions set forth in Exhibit C-1, upon the earlier of: a) the receipt by Buyer of any reimbursement received in connection with Expenses, up to the amount of any such reimbursement, b) the receipt of any proceeds related to the Existing PDCs, Salt Creek Bonds or Sundance Note (including death benefits, loan proceeds or sale proceeds), up to the amount of any outstanding Expenses, c) the receipt by the Buyer of confirmation that at least two of the Existing PDCs owned by Seller have been converted into Qualified NIBs by satisfaction of the Qualified NIBs Closing Conditions (defined below), up to the amount of any outstanding Expenses, or d) 120 days following the Effective Date, up to the amount of any outstanding Expenses. In the event that PCH pays any additional expenses after the Effective Date, so long as such additional expenses have been approved by Buyer, such amounts shall be included in the Expenses being paid in Section 3.1. Email approval shall be sufficient for this purpose.