Common use of Administrative Agent May Perform Obligations Clause in Contracts

Administrative Agent May Perform Obligations. Grantor hereby authorizes Administrative Agent to file financing statements, confirmations thereof and amendments thereto, with respect to Pledged Collateral (including financing statements containing a broader description of Pledged Collateral than the description set forth herein). If Grantor fails to perform any Obligation contained herein for ten days after demand, Administrative Agent may, but without any obligation to do so and without notice to or demand upon Grantor, perform the same and take such other action as Secured Party may deem necessary or desirable to protect the Pledged Collateral or Secured Party’s security interests therein, Administrative Agent being hereby authorized (without limiting the general nature of the authority hereinabove conferred) to pay, purchase, contest and compromise any Lien which in the reasonable judgment of Secured Party appears to be prior or superior to Secured Party’s security interests, and in exercising any such powers and authority to pay necessary expenses, employ counsel and pay reasonable attorneys’ fees. Grantor hereby agrees to repay immediately upon demand all sums so expended by Secured Party, together with interest from the date which is two Business Days following demand at the Default Rate. Neither Administrative Agent nor any Secured Party shall be under any duty or obligation to (i) preserve, maintain or protect the Pledged Collateral or any of Grantor’s rights or interest therein, (ii) exercise any voting rights with respect to the Pledged Collateral, or (iii) make or give any notices of default, presentments, demands for performance, notices of nonperformance or dishonor, protests, notices of protest or notice of any other nature whatsoever in connection with the Pledged Collateral on behalf of Grantor or any other Person having any interest therein; and neither Administrative Agent nor any Secured Party assumes and none shall be obligated to perform the obligations of Grantor, if any, with respect to the Pledged Collateral. 12.

Administrative Agent May Perform Obligations. Grantor hereby authorizes Administrative Agent to file financing statements, confirmations thereof and amendments thereto, with respect to Pledged Collateral (including financing statements containing a broader description of Pledged Collateral than the description set forth herein). If Grantor fails to -------------------------------------------- perform any Obligation contained herein for ten days after demand, Administrative Agent Agent, subject to compliance with applicable Gaming Laws and the prior inconsistent rights of the Trustee under the 13% Indenture), may, but without any obligation to do so and without notice to or demand upon Grantor, perform the same and take such other action as Secured Party may deem necessary or desirable to protect the Pledged Collateral or Secured Party’s 's security interests therein, Administrative Agent being hereby authorized (without limiting the general nature of the authority hereinabove conferred) to pay, purchase, contest and compromise any Lien which in the reasonable judgment of Secured Party appears to be prior or superior to Secured Party’s 's security interests, and in exercising any such powers and authority to pay necessary expenses, employ counsel and pay reasonable attorneys’ ' fees. Grantor hereby agrees to repay immediately upon demand all sums so expended by Secured Party, together with interest from the date which is two Business Days following demand at the Default Rate. Neither Administrative Agent nor any Secured Party shall be under any duty or obligation to (i) preserve, maintain or protect the Pledged Collateral or any of Grantor’s 's rights or interest therein, (ii) exercise any voting rights with respect to the Pledged Collateral, or (iii) make or give any notices of default, presentments, demands for performance, notices of nonperformance or dishonor, protests, notices of protest or notice of any other nature whatsoever in connection with the Pledged Collateral on behalf of Grantor or any other Person having any interest therein; and neither Administrative Agent nor any Secured Party assumes and none shall be obligated to perform the obligations of Grantor, if any, with respect to the Pledged Collateral. 12.

Administrative Agent May Perform Obligations. Grantor hereby authorizes Administrative Agent to file financing statements, confirmations thereof and amendments thereto, with respect to Pledged Collateral (including financing statements containing a broader description of Pledged Collateral than the description set forth herein). If any Grantor fails to perform any Obligation contained herein and such failure continues for ten days after demandfive Business Days, Administrative Agent may, but for the benefit of Administrative Agent may without any obligation to do so and without upon notice to or demand upon such Grantor, perform the same and take such other action as Secured Party Administrative Agent may deem necessary or desirable to protect the Pledged Collateral or Secured PartyAdministrative Agent’s security interests therein, Administrative Agent being hereby authorized (without limiting the general nature of the authority hereinabove conferred) to pay, purchase, contest and compromise any Lien which in the reasonable judgment of Secured Party Administrative Agent appears to be prior or superior to Secured PartyAdministrative Agent’s security interests, and in exercising any such powers and authority to pay necessary expenses, employ counsel and pay reasonable attorneys’ fees. Each Grantor hereby agrees to repay immediately promptly upon demand all sums so expended by Secured PartyAdministrative Agent, together with interest from the date which is two Business Days following demand of expenditure at the Default Raterates provided for in the Credit Agreement. Neither Administrative Agent nor any Secured Party Lender shall be under any duty or obligation to (i) preserve, maintain or protect the Pledged Collateral or any of such Grantor’s rights or interest therein, (ii) exercise any voting rights with respect to the Pledged Collateral, whether an Event of Default has occurred or (iii) is continuing, or make or give any notices of default, presentments, demands for performance, notices of nonperformance or dishonor, protests, notices of protest or notice of any other nature whatsoever in connection with the Pledged Collateral on behalf of such Grantor or any other Person having any interest therein; and neither Administrative Agent nor any Secured Party Lender assumes and none shall be obligated to perform the obligations of such Grantor, if any, with respect to the Pledged Collateral. 12.

Administrative Agent May Perform Obligations. Grantor hereby authorizes Administrative Agent to file financing statements, confirmations thereof and amendments thereto, with respect to Pledged Collateral (including financing statements containing a broader description of Pledged Collateral than the description set forth herein). If any Grantor fails to perform any Obligation contained herein for ten days after demandherein, Administrative Agent for the benefit of Secured Party may, but without any obligation to do so and without notice to or demand upon such Grantor, perform the same and take such other action as Secured Party may deem necessary or desirable to protect the Pledged Collateral or Secured Party’s 's security interests therein, Administrative Agent being hereby authorized (without limiting the general nature of the authority hereinabove conferred) to pay, purchase, contest and compromise any Lien which in the reasonable judgment of Secured Party appears to be prior or superior to Secured Party’s 's security interests, and in exercising any such powers and authority to pay necessary expenses, employ counsel and pay reasonable attorneys’ ' fees. Each Grantor hereby agrees to repay immediately upon demand all sums so expended by Secured Party, together with interest from the date which is two Business Days following demand of expenditure at the Default Raterates provided for in the Loan Agreement. Neither Administrative Agent nor any Secured Party Lender shall be under any duty or obligation to (i) preserve, maintain or protect the Pledged Collateral or any of such Grantor’s 's rights or interest therein, (ii) exercise any voting rights with respect to the Pledged Collateral, whether a Default or (iii) Event of Default has occurred or is continuing, or make or give any notices of default, presentments, demands for performance, notices of nonperformance or dishonor, protests, notices of protest or notice of any other nature whatsoever in connection with the Pledged Collateral on behalf of such Grantor or any other Person having any interest therein; and neither Administrative Agent nor any Secured Party Lender assumes and none shall be obligated to perform the obligations of such Grantor, if any, with respect to the Pledged Collateral. 12.

Administrative Agent May Perform Obligations. Grantor hereby authorizes Administrative Agent to file financing statements, confirmations thereof and amendments thereto, with respect to Pledged Collateral (including financing statements containing a broader description of Pledged Collateral than the description set forth herein). If Grantor fails to -------------------------------------------- perform any Obligation contained herein for ten days after demandherein, Administrative Agent for the benefit of Secured Party may, but without any obligation to do so and without notice to or demand upon Grantor, perform the same and take such other action as Secured Party may deem necessary or desirable to protect the Pledged Collateral or Secured Party’s 's security interests therein, Administrative Agent being hereby authorized (without limiting the general nature of the authority hereinabove conferred) to pay, purchase, contest and compromise any Lien which in the reasonable judgment of Secured Party appears to be prior or superior to Secured Party’s 's security interests, and in exercising any such powers and authority to pay necessary expenses, employ counsel and pay reasonable attorneys’ ' fees. Grantor hereby agrees to repay immediately upon demand all sums so expended by Secured Party, together with interest from the date which is two Business Days following demand of expenditure at the Default Raterates provided for in the Loan Agreement. Neither Except as otherwise provided in this Agreement or other Loan Documents, neither Administrative Agent nor any Secured Party Lender shall be under any duty or obligation to (i) preserve, maintain or protect the Pledged Collateral or any of Grantor’s 's rights or interest therein, (ii) exercise any voting rights with respect to the Pledged Collateral, whether an Event of Default has occurred or (iii) is continuing, or make or give any notices of default, presentments, demands for performance, notices of nonperformance or dishonor, protests, notices of protest or notice of any other nature whatsoever in connection with the Pledged Collateral on behalf of Grantor or any other Person having any interest therein; and neither Administrative Agent nor any Secured Party Lender assumes and none shall be obligated to perform the obligations Obligations of Grantor, if any, with respect to the Pledged Collateral. 12.

Administrative Agent May Perform Obligations. Grantor hereby authorizes Administrative Agent to file financing statements, confirmations thereof and amendments thereto, with respect to Pledged Collateral (including financing statements containing a broader description of Pledged Collateral than the description set forth herein). If any Grantor fails to perform any Obligation contained herein for ten days after demandherein, Administrative Agent for the benefit of Secured Party may, but without any obligation to do so and without notice to or demand upon GrantorGrantors, perform the same and take such other action as Secured Party may deem necessary or desirable to protect the Pledged Collateral or Secured Party’s security interests therein, Administrative Agent being hereby authorized (without limiting the general nature of the authority hereinabove conferred) to pay, purchase, contest and compromise any Lien which in the reasonable judgment of Secured Party appears to be prior or superior to Secured Party’s security interests, and in exercising any such powers and authority to pay necessary expenses, employ counsel and pay reasonable attorneys’ fees. Each Grantor hereby agrees to repay immediately upon demand all sums so expended by Secured Party, together with interest from the date which is two Business Days following demand of expenditure at the Default Raterates provided for in the Credit Agreement. Neither Administrative Agent nor any Secured Party Lender shall be under any duty or obligation to (i) preserve, maintain or protect the Pledged Collateral or any of any Grantor’s rights or interest therein, (ii) exercise any voting rights with respect to the Pledged Collateral, whether or (iii) not a Default or Event of Default has occurred or is continuing, or make or give any notices of default, presentments, demands for performance, notices of nonperformance or dishonor, protests, notices of protest or notice of any other nature whatsoever in connection with the Pledged Collateral on behalf of any Grantor or any other Person having any interest therein; and neither Administrative Agent nor any Secured Party Lender assumes and none shall be obligated to perform the obligations Secured Obligations of any Grantor, if any, with respect to the Pledged Collateral. 12.

Administrative Agent May Perform Obligations. Grantor hereby authorizes Administrative Agent to file financing statements, confirmations thereof and amendments thereto, with respect to Pledged Collateral (including financing statements containing a broader description of Pledged Collateral than the description set forth herein). If Grantor Borrower fails to perform any Obligation contained herein for ten days after demandherein, the Administrative Agent may, but without any obligation to do so and without notice to or demand upon GrantorBorrower, perform the same and take such other action as Secured Party the Administrative Agent may deem necessary or desirable to protect the Pledged Collateral or Secured Party’s the Administrative Agent's security interests therein, the Administrative Agent being hereby authorized (without limiting the general nature of the authority hereinabove conferred) to pay, purchase, contest and compromise any Lien lien which in the reasonable judgment of Secured Party the Administrative Agent appears to be prior or superior to Secured Party’s the Administrative Agent's security interests, and in exercising any such powers and authority to pay necessary expensesexpense, employ counsel and pay reasonable attorneys’ feesAttorney Costs. Grantor Borrower hereby agrees to repay immediately upon demand all sums sum so expended by Secured Partythe Administrative Agent, together with interest from the date which is two Business Days following demand of expenditure at the Default Raterates provided for in the Credit Agreement. Neither The Administrative Agent nor any Secured Party shall be under any no duty or obligation to (i1) preserve, maintain or protect the Pledged Collateral or any of Grantor’s Borrower's rights or interest therein, (ii2) exercise any voting rights with respect to the Pledged Collateral, whether or not an Event of Default has occurred or is continuing, or (iii3) make or give any notices of default, presentments, demands for performance, notices of nonperformance or dishonor, protests, notices of protest or notice of any other nature whatsoever in connection with the Pledged Collateral on behalf of Grantor Borrower or any other Person having any interest therein; and neither the Administrative Agent nor any Secured Party assumes does not assume and none shall not be obligated to perform the obligations of GrantorBorrower, if any, with respect to the Pledged Collateral. 12.