Common use of Administrative Agent or Lender May Perform Covenants Clause in Contracts

Administrative Agent or Lender May Perform Covenants. If the Borrower fails to perform any of its obligations under any covenant contained in this Agreement or any other Document, the Administrative Agent or any Lender may (but has no obligation to), upon notice to the Borrower, perform any covenant capable of being performed by it and, if the covenant requires the payment or expenditure of money, it may make an Advance to fund that requirement, which Advance shall be repaid by the Borrower on demand. That Advance shall bear interest at a rate calculated and paid in accordance with Article 3.

Administrative Agent or Lender May Perform Covenants. If the any Borrower fails to perform any of its obligations under any covenant contained in this Agreement or any other Document, the Administrative Agent or any Credit Facility Lender may (but has no obligation to), upon notice to after the Borroweroccurrence of an Event of Default, which is continuing, perform any covenant capable of being performed by it and, if the covenant requires the payment or expenditure of money, it may make an Advance to fund that requirement, which Advance shall be repaid by the applicable Borrower on demand. That Advance shall bear interest at a rate calculated and paid in accordance with Article Section 3.

Administrative Agent or Lender May Perform Covenants. If the Borrower any Credit Party fails to perform any of its obligations under any covenant contained in this Agreement or any other Document, the Administrative Agent or any Lender may (but has no obligation to), upon notice to the Borrower, perform any covenant capable of being performed by it and, if the covenant requires the payment or expenditure of money, it may make an Advance to fund that requirement, which Advance shall be repaid by the Borrower on demand. That Advance shall bear interest at a rate calculated and paid in accordance with Article Section 3.