Common use of Expense Recovery Clause in Contracts

Expense Recovery. Expenses for which Tenant shall indemnify Landlord shall include all third-party out of pocket collection costs, including attorneys' fees and all other third party out of pocket costs proximately caused by the Event of Default, with or without litigation, including any such costs incurred in connection with issues that are particular to a bankruptcy or any other type of proceeding and on appeal. These sums shall be due immediately upon notice from Landlord and shall bear interest at the Default Rate (Section 15.8) if not paid within 5 business days after written demand. If proceedings are brought under the Bankruptcy Code which relate to this Lease, Landlord shall be paid the costs incurred by Landlord in connection with the proceedings.

Appears in 2 contracts

Sources: Lease (Zymogenetics Inc), Lease Agreement (Zymogenetics Inc)