Common use of Management Time Clause in Contracts

Management Time. Any amount payable to an Administrative Finance Party for its costs and expenses incurred (i) investigating any event which it reasonably believes to be a Default or (ii) as a result of the occurrence of a Default shall include the cost of utilising that Administrative Finance Party's management time or other resources and will be calculated on the basis of such reasonable daily or hourly rates as that Administrative Finance Party may notify to the Borrower and the Lenders, and is in addition to any fee paid or payable to that Administrative Finance Party under Clause 13 (Fees).