Common use of Administrative Agent May Perform Clause in Contracts

Administrative Agent May Perform. The Administrative Agent may from time-to-time perform any act which any Grantor has agreed hereunder to perform and which such Grantor shall fail to perform after being requested in writing so to perform (it being understood that no such request need be given after the occurrence and during the continuance of any Event of Default and after notice thereof by the Administrative Agent to any Grantor) and the Administrative Agent may from time-to-time take any other action which the Administrative Agent deems necessary for the maintenance, preservation or protection of any of the Collateral or of its security interest therein, and the reasonable expenses of the Administrative Agent incurred in connection therewith shall be part of the Secured Obligations and shall be secured hereby.

Administrative Agent May Perform. The Administrative Agent may from time-to-time to time perform any act which any Grantor has agreed hereunder to perform and which such Grantor shall fail to perform after being requested in writing to so to perform (it being understood that no such request need be given after the occurrence and during the continuance of any Event of Default and after upon notice thereof by the Administrative Agent to any Grantor) and the Administrative Agent may from time-to-time to time take any other action which the Administrative Agent deems necessary for the maintenance, preservation or protection of any of the Collateral or of its the Administrative Agent’s security interest therein, and the reasonable and documented out-of-pocket expenses of the Administrative Agent incurred in connection therewith shall be part of the Secured Obligations and shall be secured hereby.