Common use of Additional Advances and Disbursements; Costs of Enforcement Clause in Contracts

Additional Advances and Disbursements; Costs of Enforcement. (a) If Grantor shall fail, refuse or neglect to make any payment or perform any act required by the Loan Documents and such failure constitutes an Event of Default, then without notice to or demand upon Grantor or any other Person, and without waiving or releasing any other right, remedy or recourse Beneficiary may have because of such Event of Default, Beneficiary may (but shall not be obligated to) make such payment or perform such act for the account of and at the expense of Grantor, provided that any such action by or on behalf of Beneficiary of such non-performance or breach shall not be deemed to cure any such Event of Default. All sums advanced and expenses incurred at any time by Beneficiary under this Section 4.9, or otherwise under this Deed of Trust or any of the other Loan Documents or applicable law, shall be payable within the Demand Period, and shall bear interest from the expiration of the Demand Period to and including the date of reimbursement, computed at the Default Rate, and all such sums, together with interest thereon, shall be secured by this Deed of Trust. (b) Prior to the expiration of the applicable Demand Period, Grantor shall pay, or at Beneficiary’s option, reimburse Beneficiary and Trustee for, all expenses (including reasonable attorneys' fees and expenses) of or incidental to the perfection and enforcement of this Deed of Trust and the other Loan Documents, or the enforcement, compromise or settlement of the Obligations or any claim under this Deed of Trust and the other Loan Documents, or for defending or asserting the rights and claims of Beneficiary in respect thereof, by litigation or otherwise. Such expenses shall include reasonable expenses (including the reasonable fees and expenses of legal counsel for Beneficiary) incurred in connection with (i) the preservation and enforcement of Beneficiary's liens and security interests under this Deed of Trust, (ii) the protection, exercise or enforcement of Beneficiary's rights with respect to the Property including Beneficiary's rights to (1) collect or take possession of the Property and the proceeds thereof, (2) hold the Property, (3) prepare the Property for sale or other disposition and (4) sell or otherwise dispose of the Property, and (iii) the assertion, protection, exercise or enforcement of Beneficiary's rights in any proceeding under the United States Bankruptcy Code, including the preparation, filing and prosecution of (1) proofs of claim, (2) motions for relief from the automatic stay, (3) motions for adequate protection, and (4) complaints, answers and other pleadings in adversary proceedings by or against Beneficiary or relating in any way to the Property. The duties and obligations of Beneficiary under this Section 4.9(b) are in addition to, and not in lieu of, Beneficiary’s duties and obligations under Section 9.5 of the Loan Agreement.

Appears in 2 contracts

Samples: Deed of Trust, Security Agreement and Fixture Filing (Mission West Properties Inc), Deed of Trust, Security Agreement and Fixture Filing (Mission West Properties Inc)

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Additional Advances and Disbursements; Costs of Enforcement. (a) If Grantor shall fail, refuse or neglect to make Upon the occurrence and during the continuance of any payment or perform any act required by the Loan Documents and such failure constitutes an Event of Default, then without notice to or demand upon Grantor or any other Person, and without waiving or releasing any other right, remedy or recourse Beneficiary may have because of such Event of Actionable Default, Beneficiary may (shall have the right, but shall not be obligated to) make the obligation, to cure such payment or perform such act for Actionable Default in the account of name and at the expense of Grantor, provided that any such action by or on behalf of Beneficiary of such non-performance or breach shall not be deemed to cure any such Event of DefaultGrantor. All sums advanced and expenses incurred at any time by Beneficiary under this Section 4.95.9, or otherwise under the Collateral Trust Agreement, this Deed of Trust or Trust, any of the other Loan Documents Security Documents, or applicable law, shall be payable within the Demand Period, and shall bear interest from the expiration of the Demand Period date that such sum is advanced or expense incurred, to and including the date of reimbursement, computed at the Default Ratehighest rate at which interest is then computed on any portion of the Secured Debt, and all such sums, together with interest thereon, shall be secured by this Deed of Trust. (b) Prior to the expiration of the applicable Demand Period, Grantor shall pay, or at Beneficiary’s option, reimburse Beneficiary and Trustee for, pay all expenses (including reasonable attorneys' fees and expenses) of or incidental to the perfection and enforcement of this Deed of Trust and the other Loan DocumentsCollateral Trust Agreement, or the enforcement, compromise or settlement of the Obligations Secured Debt or any claim under this Deed of Trust or the Collateral Trust Agreement and for the other Loan Documentscuring thereof, or for defending or asserting the rights and claims of Beneficiary in respect thereof, by litigation or otherwise. Such . (c) In the event that the Secured Debt shall be paid after the filing of a foreclosure proceeding with the appropriate court, but before sale of the Mortgaged Property, Grantor shall also be required to pay all of the expenses shall include reasonable expenses (including incident to or resulting from the reasonable fees and expenses of legal counsel for Beneficiary) incurred in connection with (i) the preservation and enforcement of Beneficiary's liens and security interests foreclosure proceedings under this Deed of Trust, and a commission, on the total amount of the Secured Debt, remaining unpaid, equal to one-half (ii½) of the protectionpercentage allowed as commission to trustees for making a sale under a decree of a court of equity in Maryland and such reasonable and necessary counsel fees and expenses as Trustee or Beneficiary may have incurred, exercise or enforcement of Beneficiary's rights even if greater than the aforementioned amount; provided, however, that the same may be proceeded with respect unless, prior to the Property including Beneficiary's rights to (1) collect or take possession date on which the sale is scheduled, payment is made by Grantor of the Property Secured Debt, including all principal and the proceeds thereofinterest, (2) hold the Propertycosts, (3) prepare the Property for sale or other disposition and (4) sell or otherwise dispose of the Propertyexpenses, commissions, and (iii) the assertionfees, protection, exercise or enforcement of Beneficiary's rights in any proceeding under the United States Bankruptcy Code, including the preparation, filing and prosecution of (1) proofs of claim, (2) motions for relief from the automatic stay, (3) motions for adequate protection, and (4) complaints, answers and other pleadings in adversary proceedings by or against Beneficiary or relating in any way to the Property. The duties and obligations of Beneficiary under this Section 4.9(b) are in addition to, and not in lieu of, Beneficiary’s duties and obligations under Section 9.5 of the Loan Agreementas provided herein.

Appears in 2 contracts

Samples: Credit Agreement (Consol Energy Inc), Revolving Credit Facility (Consol Energy Inc)

Additional Advances and Disbursements; Costs of Enforcement. (a) If Grantor shall fail, refuse or neglect to make Upon the occurrence and during the continuance of any payment or perform any act required by the Loan Documents and such failure constitutes an Event of Default, then without notice to or demand upon Grantor or any other Person, and without waiving or releasing any other Mortgagee shall have the right, remedy or recourse Beneficiary may have because of but not under any circumstances the obligation, to cure such Event of Default, Beneficiary may (but shall not be obligated to) make such payment or perform such act for Default in the account of name and at the expense of Grantor, provided that any such action by or on behalf of Beneficiary of such non-performance or breach shall not be deemed to cure any such Event of DefaultMortgagor. All sums advanced and expenses incurred at any time by Beneficiary Mortgagee under this Section 4.9, or otherwise under this Deed of Trust or any of Mortgage, the other Loan Documents Collateral Agency Agreement or applicable law, shall be payable within the Demand Period, and shall bear interest from the expiration of the Demand Period date that such sum is advanced or expense incurred, to and including the date of reimbursement, computed at the Default Ratehighest rate at which interest is then computed on any portion of the Obligations, and all such sums, together with interest thereon, shall be secured by this Deed Mortgage. Mortgagee is hereby empowered to enter and to authorize others to enter upon the Premises or the Improvements or any part thereof for the purpose of Trustcuring such Event of Default without having any obligation to so cure and without thereby becoming liable to Mortgagor, to any person in possession holding under Mortgagor or to any other person. (b) Prior to the expiration of the applicable Demand Period, Grantor Mortgagor shall pay, or at Beneficiary’s option, reimburse Beneficiary and Trustee for, pay all expenses (including reasonable attorneys' fees and expenses) of or incidental to the perfection and enforcement of this Deed of Trust and the other Loan DocumentsMortgage, or the enforcement, compromise or settlement of the Obligations or any claim under this Deed of Trust Mortgage, and for the other Loan Documentscuring thereof, or for defending or asserting the rights and claims of Beneficiary Mortgagee in respect thereof, by litigation or otherwise. Such expenses shall include reasonable expenses (including the reasonable fees and expenses of legal counsel for Beneficiary) incurred in connection with (i) the preservation and enforcement of Beneficiary's liens and security interests under this Deed of Trust, (ii) the protection, exercise or enforcement of Beneficiary's rights with respect to the Property including Beneficiary's rights to (1) collect or take possession of the Property and the proceeds thereof, (2) hold the Property, (3) prepare the Property for sale or other disposition and (4) sell or otherwise dispose of the Property, and (iii) the assertion, protection, exercise or enforcement of Beneficiary's rights in any proceeding under the United States Bankruptcy Code, including the preparation, filing and prosecution of (1) proofs of claim, (2) motions for relief from the automatic stay, (3) motions for adequate protection, and (4) complaints, answers and other pleadings in adversary proceedings by or against Beneficiary or relating in any way to the Property. The duties and obligations of Beneficiary under this Section 4.9(b) are in addition to, and not in lieu of, Beneficiary’s duties and obligations under Section 9.5 of the Loan Agreement.

Appears in 2 contracts

Samples: Open Ended Mortgage, Security Agreement, Assignment of Rents and Leases and Fixture Filing (Central Illinois Public Service Co), Open Ended Mortgage, Security Agreement, Assignment of Rents and Leases and Fixture Filing (Central Illinois Public Service Co)

Additional Advances and Disbursements; Costs of Enforcement. (a) If Grantor shall fail, refuse or neglect to make any payment or perform any act required by the Loan Documents and such failure constitutes an Event of DefaultDefault exists, then without notice to or demand upon Grantor or any other Person, Beneficiary and without waiving or releasing any other each of the Benefited Parties has the right, remedy or recourse Beneficiary may have because of but not the obligation, to cure such Event of Default, Beneficiary may (but shall not be obligated to) make such payment or perform such act for Default in the account of name and at the expense of Grantor, provided that any such action by or on behalf of Beneficiary of such non-performance or breach shall not be deemed to cure any such Event of DefaultGrantor. All sums advanced and expenses incurred at any time by Beneficiary or any Benefited Party under this Section 4.95.8, or otherwise under this Deed of Trust or any of the other Loan Documents or applicable law, shall be payable within the Demand Period, and shall bear interest from the expiration of the Demand Period date that such sum is advanced or expense incurred, to and including the date of reimbursement, computed at the Default Rate, and all such sums, together with interest thereon, shall be secured by this Deed of Trust. (b) Prior to the expiration of the applicable Demand Period, Grantor shall pay, or at Beneficiary’s option, reimburse Beneficiary and Trustee for, pay all expenses (including reasonable attorneys' fees and expenses) of or incidental to the perfection and enforcement of this Deed of Trust and the other Loan DocumentsTrust, or the enforcement, compromise or settlement of the Obligations Indebtedness or any claim under this Deed of Trust Trust, and for the other Loan Documentscuring thereof, or for defending or asserting the rights and claims of Beneficiary in respect thereof, by litigation or otherwise. To the fullest extent permitted by law, any costs incurred by Beneficiary or its attorney as a part of the cost of foreclosure in conjunction with Grantor’s default hereunder shall be deemed allowable by Trustee in a foreclosure action. Such expenses allowable costs shall include reasonable expenses (including the reasonable appraisal fees, attorneys’ fees and expenses all costs incurred by Beneficiary or its attorney in conjunction with securing, preserving and maintaining the Mortgaged Property and any improvements contained thereon, such as, by way of legal counsel for Beneficiary) example and not by way of limitation, costs incurred in connection conjunction with the appointment and/or institution of a receivership (i) the preservation and enforcement of Beneficiary's liens and security interests under this Deed of Trust, (ii) the protection, exercise whether or enforcement of Beneficiary's rights with respect to the Property including Beneficiary's rights to (1) collect or take possession of the Property and the proceeds thereof, (2) hold the Property, (3) prepare the Property for sale or other disposition and (4) sell or otherwise dispose of the Property, and (iii) the assertion, protection, exercise or enforcement of Beneficiary's rights in any proceeding under the United States Bankruptcy Code, including the preparation, filing and prosecution of (1) proofs of claim, (2) motions for relief from the automatic stay, (3) motions for adequate protection, and (4) complaints, answers and other pleadings in adversary proceedings by or against Beneficiary or relating in any way to the Property. The duties and obligations of Beneficiary under this Section 4.9(b) are in addition to, and not in lieu of, Beneficiary’s duties and obligations under Section 9.5 of the Loan Agreementa receiver be appointed).

Appears in 1 contract

Samples: Deed of Trust, Security Agreement, Assignment of Rents and Leases (Teletech Holdings Inc)

Additional Advances and Disbursements; Costs of Enforcement. (a) If Grantor shall fail, refuse or neglect to make any payment or perform any act required by the Loan Documents and such failure constitutes an Event of Default, then without notice to or demand upon Grantor or any other Person, and without waiving or releasing any other right, remedy or recourse Beneficiary may have because of such Event of Default, Beneficiary may (but shall not be obligated to) make such payment or perform such act for the account of and at the expense of Grantor, provided that any such action by or on behalf of Beneficiary of such non-performance or breach shall not be deemed to cure any such Event of Default. All sums advanced and expenses incurred at any time by Beneficiary under this Section 4.9, or otherwise under this Deed of Trust or any of the other Loan Documents or applicable law, shall be payable within the Demand Periodupon demand by Lender, and shall bear interest from the expiration of the Demand Period to and including the date of reimbursement, if not paid within thirty (30) days after written demand therefor computed at the rate of Default RateInterest, and all such sums, together with interest thereon, shall be secured by this Deed of Trust. (b) Prior to the expiration of the applicable Demand PeriodUpon demand by Lender, Grantor shall pay, pay or at Beneficiary’s option, reimburse Beneficiary and Trustee for, all expenses (including reasonable attorneys' fees and expenses) of or incidental to the perfection and enforcement of this Deed of Trust and the other Loan Documents, or the enforcement, compromise or settlement of the Secured Obligations or any claim under this Deed of Trust and the other Loan Documents, or for defending or asserting the rights and claims of Beneficiary in respect thereof, by litigation or otherwise. Such expenses shall include reasonable expenses (including the reasonable fees and expenses of legal counsel for Beneficiary) incurred in connection with (i) the preservation and enforcement of Beneficiary's ’s liens and security interests under this Deed of Trust, (ii) the protection, exercise or enforcement of Beneficiary's ’s rights with respect to the Property including Beneficiary's ’s rights to (1) collect or take possession of the Property and the proceeds thereof, (2) hold the Property, (3) prepare the Property for sale or other disposition and (4) sell or otherwise dispose of the Property, and (iii) the assertion, protection, exercise or enforcement of Beneficiary's ’s rights in any proceeding under the United States Bankruptcy Code, including the preparation, filing and prosecution of (1) proofs of claim, (2) motions for relief from the automatic stay, (3) motions for adequate protection, and (4) complaints, answers and other pleadings in adversary proceedings by or against Beneficiary or relating in any way to the Property. The duties and obligations of Beneficiary Grantor under this Section 4.9(b) are in addition to, and not in lieu of, Beneficiary’s any duties and obligations under Section 9.5 of the Loan Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Jubilant Generics Inc.)

Additional Advances and Disbursements; Costs of Enforcement. (a) If Grantor shall fail, refuse or neglect to make any payment or perform any act required by the Loan Documents and such failure constitutes an Event of Default, then without notice to or demand upon Grantor or any other Person, and without waiving or releasing any other right, remedy or recourse Beneficiary Grantee may have because of such Event of Default, Beneficiary Grantee may (but shall not be obligated to) make such payment or perform such act for the account of and at the expense of Grantor, provided that any such action by or on behalf of Beneficiary Grantee of such non-performance or breach shall not be deemed to cure any such Event of Default. All sums advanced and expenses incurred at any time by Beneficiary Grantee under this Section 4.9, or otherwise under this Deed of Trust Mortgage or any of the other Loan Documents or applicable law, shall be payable within the Demand Period, and shall bear interest from the expiration of the Demand Period to and including the date of reimbursement, computed at the Default Rate, and all such sums, together with interest thereon, shall be secured by this Deed of TrustMortgage. (b) Prior to the expiration of the applicable Demand Period, Grantor shall pay, or at BeneficiaryGrantee’s option, reimburse Beneficiary and Trustee Grantee for, all expenses (including reasonable attorneys' fees and expenses) of or incidental to the perfection and enforcement of this Deed of Trust Mortgage and the other Loan Documents, or the enforcement, compromise or settlement of the Obligations or any claim under this Deed of Trust Mortgage and the other Loan Documents, or for defending or asserting the rights and claims of Beneficiary Grantee in respect thereof, by litigation or otherwise. Such expenses shall include reasonable expenses (including the reasonable fees and expenses of legal counsel for BeneficiaryGrantee) incurred in connection with (i) the preservation and enforcement of BeneficiaryGrantee's liens and security interests under this Deed of TrustMortgage, (ii) the protection, exercise or enforcement of Grantee Beneficiary's rights with respect to the Property including BeneficiaryGrantee's rights to (1) collect or take possession of the Property and the proceeds thereof, (2) hold the Property, (3) prepare the Property for sale or other disposition and (4) sell or otherwise dispose of the Property, and (iii) the assertion, protection, exercise or enforcement of BeneficiaryGrantee's rights in any proceeding under the United States Bankruptcy Code, including the preparation, filing and prosecution of (1) proofs of claim, (2) motions for relief from the automatic stay, (3) motions for adequate protection, and (4) complaints, answers and other pleadings in adversary proceedings by or against Beneficiary Grantee or relating in any way to the Property. The duties and obligations of Beneficiary Grantee under this Section 4.9(b) are in addition to, and not in lieu of, BeneficiaryGrantee’s duties and obligations under Section 9.5 11.5 of the Loan Agreement.

Appears in 1 contract

Samples: Mortgage, Security Agreement and Fixture Filing (GTJ REIT, Inc.)

Additional Advances and Disbursements; Costs of Enforcement. (a) If Grantor shall fail, refuse or neglect to make any payment or perform any act required by the Loan Documents and such failure constitutes an Event of DefaultDefault exists, then without notice to or demand upon Grantor or any other Person, Beneficiary and without waiving or releasing any other each of the Benefited Parties has the right, remedy or recourse Beneficiary may have because of but not the obligation, to cure such Event of Default, Beneficiary may (but shall not be obligated to) make such payment or perform such act for Default in the account of name and at the expense of Grantor, provided that any such action by or on behalf of Beneficiary of such non-performance or breach shall not be deemed to cure any such Event of DefaultGrantor. All sums advanced and expenses incurred at any time by Beneficiary or any Benefited Party under this Section 4.95.8, or otherwise under this Deed of Trust or any of the other Loan Documents or applicable law, shall be payable within the Demand Period, and shall bear interest from the expiration of the Demand Period date that such sum is advanced or expense incurred, to and including the date of reimbursement, computed at the Default Rate, and all such sums, together with interest thereon, shall be secured by this Deed of Trust. (b) Prior to the expiration of the applicable Demand Period, Grantor shall pay, or at Beneficiary’s option, reimburse Beneficiary and Trustee for, pay all expenses (including reasonable attorneys' fees and expenses) of or incidental to the perfection and enforcement of this Deed of Trust and the other Loan DocumentsTrust, or the enforcement, compromise or settlement of the Obligations Indebtedness or any claim under this Deed of Trust Trust, and for the other Loan Documentscuring thereof, or for defending or asserting the rights and claims of Beneficiary in respect thereof, by litigation or otherwise. To the fullest extent permitted by law, any costs incurred by Beneficiary or its attorney as a part of the cost of foreclosure in conjunction with Grantor's default hereunder shall be deemed allowable by Trustee in a foreclosure action. Such expenses allowable costs shall include reasonable expenses (including the reasonable appraisal fees, attorneys' fees and expenses all costs incurred by Beneficiary or its attorney in conjunction with securing, preserving and maintaining the Mortgaged Property and any improvements contained thereon, such as, by way of legal counsel for Beneficiary) example and not by way of limitation, costs incurred in connection conjunction with the appointment and/or institution of a receivership (i) the preservation and enforcement of Beneficiary's liens and security interests under this Deed of Trust, (ii) the protection, exercise whether or enforcement of Beneficiary's rights with respect to the Property including Beneficiary's rights to (1) collect or take possession of the Property and the proceeds thereof, (2) hold the Property, (3) prepare the Property for sale or other disposition and (4) sell or otherwise dispose of the Property, and (iii) the assertion, protection, exercise or enforcement of Beneficiary's rights in any proceeding under the United States Bankruptcy Code, including the preparation, filing and prosecution of (1) proofs of claim, (2) motions for relief from the automatic stay, (3) motions for adequate protection, and (4) complaints, answers and other pleadings in adversary proceedings by or against Beneficiary or relating in any way to the Property. The duties and obligations of Beneficiary under this Section 4.9(b) are in addition to, and not in lieu of, Beneficiary’s duties and obligations under Section 9.5 of the Loan Agreementa receiver be appointed).

Appears in 1 contract

Samples: Deed of Trust, Security Agreement, Assignment of Rents and Leases (Teletech Holdings Inc)

Additional Advances and Disbursements; Costs of Enforcement. (a) If Grantor shall fail, refuse or neglect to make any payment or perform any act required by the Loan Documents and such failure constitutes an Event of DefaultDefault exists, then without notice to or demand upon Grantor or any other Person, Mortgagee and without waiving or releasing any other each of the Lenders shall have the right, remedy or recourse Beneficiary may have because of but not the obligation, to cure such Event of Default, Beneficiary may (but shall not be obligated to) make such payment or perform such act for Default in the account of name and at the expense of Grantor, provided that any such action by or on behalf of Beneficiary of such non-performance or breach shall not be deemed to cure any such Event of DefaultMortgagor. All sums advanced and expenses incurred at any time by Beneficiary Mortgagee or any Lender under this Section 4.95.9, or otherwise under this Deed of Trust Mortgage or any of the other Loan Documents or applicable law, shall be payable within the Demand Period, and shall bear interest from the expiration of the Demand Period date that such sum is advanced or expense incurred, to and including the date of reimbursement, computed at the Default Raterate or rates at which interest is then computed on the Indebtedness, and all such sums, together with interest thereon, shall be secured by this Deed of TrustMortgage. (b) Prior to the expiration of the applicable Demand Period, Grantor Mortgagor shall pay, or at Beneficiary’s option, reimburse Beneficiary and Trustee for, pay all expenses (including reasonable attorneys' fees and expenses) of or incidental to the perfection and enforcement of this Deed of Trust Mortgage and the other Loan Documents, or the enforcement, compromise or settlement of the Obligations Indebtedness or any claim under this Deed of Trust Mortgage and the other Loan Documents, and for the curing thereof, or for defending or asserting the rights and claims of Beneficiary Mortgagee in respect thereof, by litigation or otherwise. Such expenses shall include reasonable expenses . (including the reasonable fees and expenses c) Upon request of legal counsel for Beneficiary) incurred in connection with (i) the preservation and enforcement of Beneficiary's liens and security interests under this Deed of TrustMortgagor, (ii) the protection, exercise or enforcement of Beneficiary's rights with respect however subject to the Property including Beneficiary's rights terms, conditions and limitations under the Credit Agreement, Mortgagee may, at its sole option, from time to time make Future Advances (1as defined below) collect or take possession to Mortgagor, in such amounts as are permitted under the terms of the Property Credit Agreement. This Mortgage shall also secure Contingent Obligations (as defined below) in such amounts as are permitted under the terms of the Credit Agreement. Future Advances, Contingent Obligations and Protective Advances (as referenced below) shall have the meanings given them in 33 M.R.S.A. ? 505, as the same may be amended or replaced form time to time. At Mortgagee's request, Mortgagor shall execute and deliver to Mortgagee promissory notes or other agreements or documents evidencing each and every Future Advance which Mortgagee may make, which promissory notes or other agreements or documents shall contain such terms and conditions as Mortgagee may require. Mortgagor shall pay when due all Future Advances with interest and other charges thereon, as applicable, and the proceeds thereof, (2) hold the Property, (3) prepare the Property for sale or other disposition and (4) sell or otherwise dispose of the Propertysame, and (iii) each promissory note and agreement or document evidencing the assertionsame, protectionshall be secured hereby. All provisions of this Mortgage shall apply to each Future Advance as well as to all other Indebtedness secured hereby. Nothing herein contained, exercise or enforcement of Beneficiary's rights in any proceeding under however, shall limit the United States Bankruptcy Codeamount secured by this Mortgage if such amount is increased by Protective Advances made by Mortgagee, including the preparation, filing and prosecution of (1) proofs of claim, (2) motions for relief from the automatic stay, (3) motions for adequate protection, and (4) complaints, answers and other pleadings in adversary proceedings by or against Beneficiary or relating in any way to the Property. The duties and obligations of Beneficiary under this Section 4.9(b) are in addition to, and not in lieu of, Beneficiary’s duties and obligations under Section 9.5 of the Loan Agreementas herein elsewhere provided.

Appears in 1 contract

Samples: Credit Agreement (Diamond Brands Operating Corp)

Additional Advances and Disbursements; Costs of Enforcement. (a) If Grantor shall failMortgagor fails to pay or perform any of its obligations herein contained (including payment of expenses of foreclosure and court costs), refuse Mortgagee may (but need not), as agent or neglect to attorney-in-fact of Mortgagor, make any payment or perform (or cause to be performed ) any act required obligation of Mortgagor hereunder, in any form and manner deemed expedient by the Loan Documents and such failure constitutes an Event of Default, then without notice to or demand upon Grantor or any other PersonMortgagee, and without waiving any amount so paid or releasing expended (plus reasonable compensation to Mortgagee for its out-of-pocket and other expenses for each matter for which it acts under this Mortgage), with interest thereon at the highest rate charged by Mortgagee on any other rightof the Obligations secured by this Mortgage (but not to exceed the maximum interest rate permitted by law), remedy or recourse Beneficiary may have because shall be added to the Obligations hereby secured and shall be repaid to Mortgagee upon demand. By way of such Event illustration and not in limitation of Defaultthe foregoing, Beneficiary Mortgagee may (but shall not be obligated toneed not) make such payment or perform such act for the account of and at the expense of Grantor, provided that any such action by or on behalf of Beneficiary of such non-performance or breach shall not be deemed to cure any such Event of Default. All sums advanced and expenses incurred at any time by Beneficiary under this Section 4.9, or otherwise under this Deed of Trust do all or any of the following: make payments of principal or interest or other Loan Documents amounts on any lien, encumbrance or applicable lawcharge on any of the Mortgaged Property; complete construction; make repairs; protect Mortgagee’s interest and security in the Mortgaged Property; collect rents; prosecute collection of the Mortgaged Property or proceeds thereof; purchase, discharge, compromise or settle any tax lien or any other lien, encumbrance, suit, proceeding, title or claim thereof; contest any tax or assessment; redeem from any tax sale or forfeiture affecting the Mortgaged Property; procure and pay for all insurance to be carried by Mortgagor pursuant to the Indenture; and generally to pay for all repairs and improvements to the Mortgaged Property necessary or desirable to secure and protect the Mortgaged Property and Mortgagee’s interest and security in the Mortgaged Property. In making any payment or securing any performance relating to any obligation of Mortgagor hereunder, Mortgagee shall be payable within the Demand Period, and shall bear interest from the expiration sole judge of the Demand Period legality, validity and amount of any lien or encumbrance and of all other matters necessary to and including be determined in satisfaction thereof. No such action of Mortgagee shall ever be considered as a waiver of any right accruing to it on account of the date occurrence of reimbursement, computed at the Default Rate, and all such sums, together with interest thereon, shall be secured by this Deed any matter which constitutes a default or Event of TrustDefault. (b) Prior to the expiration of the applicable Demand Period, Grantor Mortgagor shall pay, or at Beneficiary’s option, reimburse Beneficiary and Trustee for, pay all expenses (including reasonable attorneys' fees and expenses) of or incidental to the perfection and enforcement of this Deed of Trust Mortgage and the other Loan Note Documents, or the enforcement, compromise or settlement of the Obligations or any claim under this Deed of Trust Mortgage and the other Loan Note Documents, and for the curing thereof, or for defending or asserting the rights and claims of Beneficiary Mortgagee in respect thereof, by litigation or otherwise. Such expenses shall include reasonable expenses (including the reasonable fees and expenses of legal counsel for Beneficiary) incurred in connection with (i) the preservation and enforcement of Beneficiary's liens and security interests under this Deed of Trust, (ii) the protection, exercise or enforcement of Beneficiary's rights with respect to the Property including Beneficiary's rights to (1) collect or take possession of the Property and the proceeds thereof, (2) hold the Property, (3) prepare the Property for sale or other disposition and (4) sell or otherwise dispose of the Property, and (iii) the assertion, protection, exercise or enforcement of Beneficiary's rights in any proceeding under the United States Bankruptcy Code, including the preparation, filing and prosecution of (1) proofs of claim, (2) motions for relief from the automatic stay, (3) motions for adequate protection, and (4) complaints, answers and other pleadings in adversary proceedings by or against Beneficiary or relating in any way to the Property. The duties and obligations of Beneficiary under this Section 4.9(b) are in addition to, and not in lieu of, Beneficiary’s duties and obligations under Section 9.5 of the Loan Agreement.

Appears in 1 contract

Samples: Open End Mortgage, Security Agreement, Assignment of Rents and Leases and Fixture Filing (GXS Corp)

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Additional Advances and Disbursements; Costs of Enforcement. (a) If Grantor shall fail, refuse or neglect to make any payment or perform any act required by the Loan Documents and such failure constitutes an Event of DefaultDefault exists, then without notice to or demand upon Grantor or any other Person, Trustee and without waiving or releasing any other Beneficiary shall have the right, remedy or recourse Beneficiary may have because of but not the obligation, to cure such Event of Default, Beneficiary may (but shall not be obligated to) make such payment or perform such act for Default in the account of name and at the expense of Grantor, provided that any such action by or on behalf of Beneficiary of such non-performance or breach shall not be deemed to cure any such Event of DefaultGrantor. All sums advanced and expenses incurred at any time by Trustee or Beneficiary under this Section 4.97.11, or otherwise under this Deed of Trust or any of the other Loan Documents or applicable law, shall be payable within the Demand Period, and shall bear interest from the expiration of the Demand Period date that such sum is advanced or expense incurred, DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING - 30 to and including the date of reimbursement, computed at the Default RateRate (as defined in the Note), and all such sums, together with interest thereon, shall be secured by this Deed of Trust. (b) Prior to the expiration of the applicable Demand Period, Grantor shall pay, or at Beneficiary’s option, reimburse Beneficiary and Trustee for, pay all expenses (including reasonable attorneys' fees and expenses) of or incidental to the perfection and enforcement of this Deed of Trust and the other Loan Documents, or the enforcement, compromise or settlement of the Obligations Indebtedness, or any claim under this Deed of Trust and the other Loan Documents, and for the curing thereof, or for defending or asserting the rights and claims of Trustee and Beneficiary in respect thereof, by litigation or otherwise. Such expenses shall include reasonable expenses . (including c) This Deed of Trust secures the reasonable fees and expenses of legal counsel for Beneficiary) incurred in connection with Indebtedness which includes, without limitation: (i) all advances made by Trustee and Beneficiary with respect to any of the preservation and enforcement Mortgaged Property for the payment of Beneficiary's liens and security interests under taxes, maintenance charges, insurance premiums or costs incurred for the protection of any of the Mortgaged Property or the lien of this Deed of Trust, Trust and (ii) all expenses incurred by Trustee and Beneficiary by reason of an Event of Default hereunder. This Deed of Trust shall constitute a lien on Grantor’s fee interest in the protectionMortgaged Property from the time this Deed of Trust is left of record (or, exercise or enforcement if this is a purchase money deed of trust, from the time of delivery hereof to Trustee and Beneficiary's rights with respect to the Property including Beneficiary's rights to (1) collect or take possession for, among other things, all such advances and expenses, plus interest thereon, regardless of the Property and the proceeds thereof, (2) hold the Property, (3) prepare the Property for sale time when such advances are made or other disposition and (4) sell or otherwise dispose of the Property, and (iii) the assertion, protection, exercise or enforcement of Beneficiary's rights in any proceeding under the United States Bankruptcy Code, including the preparation, filing and prosecution of (1) proofs of claim, (2) motions for relief from the automatic stay, (3) motions for adequate protection, and (4) complaints, answers and other pleadings in adversary proceedings by or against Beneficiary or relating in any way to the Property. The duties and obligations of Beneficiary under this Section 4.9(b) such expenses are in addition to, and not in lieu of, Beneficiary’s duties and obligations under Section 9.5 of the Loan Agreementincurred.

Appears in 1 contract

Samples: Deed of Trust (Wells Mid-Horizon Value-Added Fund I LLC)

Additional Advances and Disbursements; Costs of Enforcement. (a) If Grantor shall fail, refuse or neglect to make any payment or perform any act required by the Loan Documents and such failure constitutes an Event of DefaultDefault exists, then without notice to or demand upon Grantor or any other Person, and without waiving or releasing any other Mortgagee shall have the right, remedy or recourse Beneficiary may have because of but not the obligation, to cure such Event of Default, Beneficiary may (but shall not be obligated to) make such payment or perform such act for Default in the account of name and at the expense of Grantor, provided that any such action by or on behalf of Beneficiary of such non-performance or breach shall not be deemed to cure any such Event of DefaultMortgagor. All sums advanced and expenses incurred at any time by Beneficiary Mortgagee under this Section 4.9Section, or otherwise under this Deed of Trust Mortgage or any of the other Loan Documents or applicable law, shall be payable within the Demand Period, and shall bear interest from the expiration of the Demand Period date that such sum is advanced or expense incurred, to and including the date of reimbursement, computed at the Default Raterate or rates at which interest is then computed on the Indebtedness, and all such sums, together with interest thereon, shall be secured by this Deed Mortgage. Mortgagor shall pay all reasonable out of Trust. (b) Prior to the expiration of the applicable Demand Period, Grantor shall pay, or at Beneficiary’s option, reimburse Beneficiary and Trustee for, all pocket expenses (including reasonable attorneys' fees and expenses) of or incidental to the perfection and enforcement of this Deed of Trust Mortgage and the other Loan Documents, or the enforcement, compromise or settlement of the Obligations Indebtedness or any claim under this Deed of Trust Mortgage and the other Loan Documents, and for the curing thereof, or for defending or asserting the rights and claims of Beneficiary Mortgagee in respect thereof, by litigation or otherwise. Such expenses shall include reasonable expenses (including No Mortgagee in Possession. Neither the reasonable fees and expenses of legal counsel for Beneficiary) incurred in connection with (i) the preservation and enforcement of Beneficiary's liens any of the remedies under this Section, the assignment of the Rents and Leases under Section 5, the security interests under this Deed of TrustSection 6, (ii) nor any other remedies afforded to Mortgagee under the protectionLoan Documents, exercise at law or enforcement of Beneficiary's rights with respect in equity shall cause Mortgagee to the Property including Beneficiary's rights be deemed or construed to (1) collect or take be a mortgagee in possession of the Property and the proceeds thereof, (2) hold the Mortgaged Property, (3) prepare to obligate Mortgagee to lease the Mortgaged Property for sale or other disposition and (4) sell attempt to do so, or otherwise dispose to take any action, incur any expense, or perform or discharge any obligation, duty or liability whatsoever under any of the Property, and (iii) the assertion, protection, exercise Leases or enforcement of Beneficiary's rights in any proceeding under the United States Bankruptcy Code, including the preparation, filing and prosecution of (1) proofs of claim, (2) motions for relief from the automatic stay, (3) motions for adequate protection, and (4) complaints, answers and other pleadings in adversary proceedings by or against Beneficiary or relating in any way to the Property. The duties and obligations of Beneficiary under this Section 4.9(b) are in addition to, and not in lieu of, Beneficiary’s duties and obligations under Section 9.5 of the Loan Agreementotherwise.

Appears in 1 contract

Samples: Credit Agreement (Business Sound Inc)

Additional Advances and Disbursements; Costs of Enforcement. (a) If Grantor Mortgagor shall fail, refuse or neglect to make any payment or perform any act required by the Loan Documents and such failure constitutes an Event of Default, then without notice to or demand upon Grantor Mortgagor or any other Person, and without waiving or releasing any other right, remedy or recourse Beneficiary Agent may have because of such Event of Default, Beneficiary Agent may (but shall not be obligated to) make such payment or perform such act for the account of and at the expense of GrantorXxxxxxxxx, provided that any such action by or on behalf of Beneficiary Agent of such non-performance or breach shall not be deemed to cure any such Event of Default. All sums advanced and expenses incurred at any time by Beneficiary Agent under this Section 4.9, or otherwise under this Deed of Trust Mortgage or any of the other Loan Documents or applicable law, shall be payable within the Demand Period, on demand and shall bear interest from the expiration of the Demand Period to and including the date of reimbursement, computed demand at the Default Ratedefault rate of interest applicable under the Credit Agreement, and all such sums, together with interest thereon, shall be secured by this Deed of TrustMortgage. (b) Prior to the expiration of the applicable Demand Period, Grantor Mortgagor shall pay, or at BeneficiaryAgent’s option, reimburse Beneficiary and Trustee Agent on demand for, all third party out-of-pocket expenses (including reasonable attorneys' fees and expenses) of or incidental to the perfection and enforcement of this Deed of Trust Mortgage and the other Loan Documents, or the enforcement, compromise or settlement of the Obligations or any claim under this Deed of Trust Mortgage and the other Loan Documents, or for defending or asserting the rights and claims of Beneficiary Agent in respect thereof, by litigation or otherwise. Such expenses shall include reasonable third party out-of-pocket expenses (including the reasonable fees and expenses of legal outside counsel for BeneficiaryAgent) incurred in connection with (i) the preservation and enforcement of Beneficiary's Agent’s liens and security interests under this Deed of TrustMortgage, (ii) the protection, exercise or enforcement of Beneficiary's Agent’s rights with respect to the Property including Beneficiary's Agent’s rights hereunder to (1) collect or take possession of the Property and the proceeds thereof, (2) hold the Property, (3) prepare the Property for sale or other disposition and (4) sell or otherwise dispose of the Property, and (iii) the assertion, protection, exercise or enforcement of Beneficiary's Agent’s rights in any proceeding under the United States Bankruptcy Code, including the preparation, filing and prosecution of (1) proofs of claim, (2) motions for relief from the automatic stay, (3) motions for adequate protection, and (4) complaints, answers and other pleadings in adversary proceedings by or against Beneficiary Agent or relating in any way to the Property. The duties and obligations of Beneficiary Agent under this Section 4.9(b) are in addition to, and not in lieu of, BeneficiaryAgent’s duties and obligations under Section 9.5 of the Loan Credit Agreement.

Appears in 1 contract

Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Angie's List, Inc.)

Additional Advances and Disbursements; Costs of Enforcement. (a) If Grantor shall fail, refuse or neglect On failure of Mortgagor to make any payment or perform any act required by the Loan Documents and such failure constitutes an Event of Default, then without notice to or demand upon Grantor or any other Person, and without waiving or releasing any other right, remedy or recourse Beneficiary may have because of such Event of Default, Beneficiary may (but shall not be obligated to) make such payment or perform such act for the account of and at the expense of Grantor, provided that any such action by or on behalf of Beneficiary of such non-performance or breach shall not be deemed to cure any such Event of Default. All sums advanced and expenses incurred at any time by Beneficiary under this Section 4.9, or otherwise under this Deed of Trust or any of the covenants and agreements contained in this Mortgage and after the expiration of any applicable cure periods provided in Section 8 of the Credit Agreement, the Mortgagee may, at its sole option and in its sole discretion, perform the same and in so doing may expend such sums as the Mortgagee may reasonably deem advisable in the performance thereof, including the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien, expenditures made in defending against any adverse claim and all other Loan Documents expenditures that the Mortgagee, for the benefit of the holders of the Obligations, may make for the protection of the security hereof or applicable that may be compelled to make by operation of law. All such sums and amounts so expended by the Mortgagor shall be repayable by the Mortgagor promptly upon timely notice thereof and demand therefor including, subject to Section 10.5 of the Credit Agreement, attorneys’ fees and expenses, shall be payable within the Demand Period, constitute additional Obligations and shall bear interest from the expiration date said amounts are expended at the applicable default rate set forth in Section 2.15(c) of the Demand Period to and including Credit Agreement (the date of reimbursement, computed at the Default Rate”). No such performance of any covenant or agreement by the Mortgagee or the holders of the Obligations on behalf of Mortgagor, and all no such sums, together with interest thereonadvance or expenditure therefor, shall relieve the Mortgagor of any default under the terms of this Mortgage or the other Loan Documents. The Mortgagee may make any payment hereby authorized in accordance with any xxxx, statement or estimate procured from the appropriate public office or holder of the claim to be secured discharged without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by this Deed of TrustMortgagor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP. (b) Prior Subject to and to the expiration extent provided in Section 10.5 of the applicable Demand PeriodCredit Agreement, Grantor Mortgagor shall pay, or at Beneficiary’s option, reimburse Beneficiary and Trustee for, pay all reasonable out-of-pocket expenses (including reasonable attorneys' fees and expenses) of or incidental to the perfection and enforcement of this Deed of Trust and the other Loan DocumentsMortgage, or the enforcement, compromise or settlement of the Obligations or any claim under this Deed of Trust and the other Loan DocumentsMortgage, or for defending or asserting the rights and claims of Beneficiary Mortgagee in respect thereof, by litigation or otherwise. Such expenses shall include reasonable expenses (including the reasonable fees and expenses of legal counsel for Beneficiary) incurred in connection with (i) the preservation and enforcement of Beneficiary's liens and security interests under this Deed of Trust, (ii) the protection, exercise or enforcement of Beneficiary's rights with respect to the Property including Beneficiary's rights to (1) collect or take possession of the Property and the proceeds thereof, (2) hold the Property, (3) prepare the Property for sale or other disposition and (4) sell or otherwise dispose of the Property, and (iii) the assertion, protection, exercise or enforcement of Beneficiary's rights in any proceeding under the United States Bankruptcy Code, including the preparation, filing and prosecution of (1) proofs of claim, (2) motions for relief from the automatic stay, (3) motions for adequate protection, and (4) complaints, answers and other pleadings in adversary proceedings by or against Beneficiary or relating in any way to the Property. The duties and obligations of Beneficiary under this Section 4.9(b) are in addition to, and not in lieu of, Beneficiary’s duties and obligations under Section 9.5 of the Loan Agreement.

Appears in 1 contract

Samples: Credit Agreement (Tempur Sealy International, Inc.)

Additional Advances and Disbursements; Costs of Enforcement. (a) If Grantor shall fail, refuse or neglect to make any payment or perform any act required by Upon the Loan Documents occurrence and such failure constitutes continuance of an Event of Default, then without notice to or demand upon Grantor or any other Person, Beneficiary and without waiving or releasing any other each of the Lenders shall have the right, remedy or recourse Beneficiary may have because of but not the obligation, to cure such Event of Default, Beneficiary may (but shall not be obligated to) make such payment or perform such act for Default in the account of name and at the expense of Grantor, provided that any such action by or on behalf of Beneficiary of such non-performance or breach shall not be deemed to cure any such Event of DefaultGrantor. All sums advanced and expenses incurred at any time by Beneficiary or any Lender under this Section 4.95.9, or otherwise under this Deed of Trust or any of the other Loan Documents or applicable law, shall be payable within the Demand Period, and shall bear interest from the expiration of the Demand Period date that such sum is advanced or expense incurred, to and including the date of reimbursement, computed at the Default Ratehighest rate at which interest is then computed on any portion of the Indebtedness, and all such sums, together with interest thereon, shall be secured by this Deed of Trust. (b) Prior to the expiration of the applicable Demand Period, Grantor shall pay, or at Beneficiary’s option, reimburse Beneficiary and Trustee for, pay all expenses (including reasonable attorneys' fees and expenses) of or incidental to the perfection and enforcement of this Deed of Trust and the other Loan Documents, or the enforcement, compromise or settlement of the Obligations Indebtedness or any claim under this Deed of Trust and the other Loan Documents, and for the curing thereof, or for defending or asserting the rights and claims of Beneficiary in respect thereof, by litigation or otherwise. Any costs incurred by Beneficiary or its attorney as a part of the cost of foreclosure in conjunction with Grantor's default hereunder shall be deemed allowable by Trustee in a foreclosure action. Such expenses allowable costs shall include reasonable expenses (including the reasonable include, but not be limited to, appraisal fees, attorneys' fees and expenses all costs incurred by Beneficiary or its attorney in conjunction with securing, preserving and maintaining the Mortgaged Property and any improvements contained thereon, such as, by way of legal counsel for Beneficiary) example and not by way of limitation, costs incurred in connection conjunction with the appointment and/or institution of a receivership (i) the preservation and enforcement of Beneficiary's liens and security interests under this Deed of Trust, (ii) the protection, exercise whether or enforcement of Beneficiary's rights with respect to the Property including Beneficiary's rights to (1) collect or take possession of the Property and the proceeds thereof, (2) hold the Property, (3) prepare the Property for sale or other disposition and (4) sell or otherwise dispose of the Property, and (iii) the assertion, protection, exercise or enforcement of Beneficiary's rights in any proceeding under the United States Bankruptcy Code, including the preparation, filing and prosecution of (1) proofs of claim, (2) motions for relief from the automatic stay, (3) motions for adequate protection, and (4) complaints, answers and other pleadings in adversary proceedings by or against Beneficiary or relating in any way to the Property. The duties and obligations of Beneficiary under this Section 4.9(b) are in addition to, and not in lieu of, Beneficiary’s duties and obligations under Section 9.5 of the Loan Agreementa receiver be appointed).

Appears in 1 contract

Samples: Credit Agreement (Icg Communications Inc /De/)

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