Common use of Advancements Clause in Contracts

Advancements. If the BORROWER fails to perform any of its agreements or covenants contained in this AGREEMENT or if the BORROWER fails to protect or preserve the COLLATERAL or the status and priority of the security interests of the SECURED PARTIES in the COLLATERAL, and such failure shall remain uncured for three (3) BUSINESS DAYS after the ADMINISTRATIVE AGENT shall have notified the BORROWER thereof, the ADMINISTRATIVE AGENT for the account of the LENDERS may make advances to perform the same on behalf of the BORROWER to protect or preserve the COLLATERAL or the status and priority of the security interests of the SECURED PARTIES in the COLLATERAL, and all sums so advanced shall immediately upon advance become secured by the security interests granted in this AGREEMENT, and shall become part of the principal amount owed to the LENDERS with interest to be assessed at the ADJUSTED BASE RATE plus two hundred (200) BASIS POINTS. The BORROWER shall repay on demand all sums so advanced on the BORROWER’S behalf, plus all expenses or costs incurred by the ADMINISTRATIVE AGENT, on account of the LENDERS, including reasonable legal fees, with interest thereon. The provisions of this Section shall not be construed to prevent the institution of the rights and remedies of the ADMINISTRATIVE AGENT upon the occurrence of an EVENT OF DEFAULT. The authorization contained in this Section is not intended to impose any duty or obligation on the ADMINISTRATIVE AGENT to perform any action or make any advancement on behalf of the BORROWER and is intended to be for the sole benefit and protection of the LENDERS.

Advancements. If the BORROWER Borrower or any other Loan Party fails to perform any of its respective agreements or covenants contained in this AGREEMENT the Credit Documents or if the BORROWER Borrower or any other Loan Party fails to protect or preserve the COLLATERAL Collateral or any other security for the Obligations or the status and priority of the security interests Liens of the SECURED PARTIES Credit Parties in the COLLATERAL, Collateral or in any other security for the Obligations and such failure shall remain uncured for three (3) BUSINESS DAYS Business Days after the ADMINISTRATIVE AGENT Agent shall have notified the BORROWER Borrower thereof, the ADMINISTRATIVE AGENT Agent for the account of the LENDERS Lenders may make advances to perform the same on behalf of the BORROWER Borrower or other Loan Party to protect or preserve the COLLATERAL Collateral or any other security for the Obligations or the status and priority of the security interests Liens of the SECURED PARTIES Credit Parties in the COLLATERALCollateral or in any other security for the Obligations, and all sums so advanced shall immediately upon such advance become secured by the security interests Liens granted in this AGREEMENTthe Credit Documents and any other security for the Obligations, and shall become part of the principal amount owed to the LENDERS Lenders with interest to be assessed at the ADJUSTED BASE RATE plus two hundred (200) BASIS POINTSDefault Rate. The BORROWER Borrower shall repay on demand all sums so advanced on the BORROWER’S Borrower’s behalf, plus all expenses or costs incurred by the ADMINISTRATIVE AGENTAgent, on account of the LENDERSLenders, including reasonable legal fees, with interest thereon. The provisions of this Section shall not be construed to prevent the institution of the rights and remedies of the ADMINISTRATIVE AGENT Agent upon the occurrence of an EVENT OF DEFAULTEvent of Default. The authorization contained in this Section is not intended to impose any duty or obligation on the ADMINISTRATIVE AGENT Agent or any other Credit Party to perform any action or make any advancement on behalf of the BORROWER Borrower and is intended to be for the sole benefit and protection of the LENDERSCredit Parties.

Advancements. If any of the BORROWER BORROWERS fails to perform any of its agreements or covenants contained in this AGREEMENT or if any of the BORROWER BORROWERS fails to protect or preserve the COLLATERAL or the status and priority of the security interests interest of the SECURED PARTIES LENDER in the COLLATERAL, and such failure shall remain uncured for three (3) BUSINESS DAYS after the ADMINISTRATIVE AGENT shall have notified the BORROWER thereof, the ADMINISTRATIVE AGENT for the account of the LENDERS LENDER may make advances to perform the same on behalf of the such BORROWER to protect or preserve the COLLATERAL or the status and priority of the security interests interest of the SECURED PARTIES LENDER in the COLLATERAL, and all sums so advanced shall immediately upon advance become secured by the security interests granted in this AGREEMENT, and shall become part of the principal amount owed to the LENDERS LENDER with interest to be assessed at the ADJUSTED BASE RATE plus two hundred (200) BASIS POINTSapplicable rate thereon and subject to the terms and provisions of this AGREEMENT and all of the LOAN DOCUMENTS. The BORROWER BORROWERS shall repay on demand all sums so advanced on the BORROWER’S any BORROWERS behalf, plus all expenses or costs incurred by the ADMINISTRATIVE AGENT, on account of the LENDERSLENDER, including reasonable legal fees, with interest thereonthereon at the highest rate authorized in the NOTE. The provisions of this Section shall not be construed to prevent the institution of the rights and remedies of the ADMINISTRATIVE AGENT LENDER upon the occurrence of an EVENT OF DEFAULT. The authorization contained in this Section is not intended to impose any duty or obligation on the ADMINISTRATIVE AGENT LENDER to perform any action or make any advancement on behalf of any or all of the BORROWER BORROWERS and is intended to be for the sole benefit and protection of the LENDERSLENDER.

Advancements. If the BORROWER an Event of Default has occurred and is continuing and (i) any applicable Borrowers or any other applicable Loan Party fails to perform any of its their respective agreements or covenants contained in this AGREEMENT the Credit Documents or if the BORROWER (ii) any applicable Borrowers or any other applicable Loan Party fails to protect or preserve the COLLATERAL Collateral or any other security for the Obligations or the status and priority of the security interests Liens of the SECURED PARTIES Lender Parties in the COLLATERALCollateral or in any other security for the Obligations, and such failure shall remain uncured for three (3) BUSINESS DAYS after then the ADMINISTRATIVE AGENT shall have notified the BORROWER thereof, the ADMINISTRATIVE AGENT Administrative Agent for the account of the LENDERS may Lenders may, during the continuance of such Event of Default, make advances to perform the same on behalf of the BORROWER applicable Borrowers or other Loan Party to protect or preserve the COLLATERAL Collateral or the status and priority of the security interests Liens of the SECURED PARTIES Lender Parties in the COLLATERALCollateral, and all sums so advanced during the continuance of such Event of Default shall immediately upon such advance become secured by the security interests Liens granted in this AGREEMENTthe Credit Documents, and shall become part of the principal amount owed to the LENDERS Lenders with interest to be assessed at in accordance with this Agreement; provided, however, that the ADJUSTED BASE RATE plus two hundred Administrative Agent shall not make any advance pursuant to this Section 2.17 if such advance, together with the aggregate amount of all other advances made by the Administrative Agent prior to the date thereof pursuant to this Section 2.17 (200excluding any such advances for which the Administrative Agent has been repaid), would exceed 10% of the Total Credit Exposure of all Lenders on such date. Each applicable Borrower promises to repay within ten (10) BASIS POINTS. The BORROWER shall repay on Business Days following demand all sums so advanced on the BORROWER’S such Xxxxxxxx’s behalf, plus all reasonable and invoiced out-of-pocket expenses or costs incurred by the ADMINISTRATIVE AGENTAdministrative Agent, on account of the LENDERSLenders, including reasonable and documented out-of-pocket legal fees, with interest thereon. The provisions of this thereon in a manner consistent with Section shall not be construed to prevent the institution of the rights and remedies of the ADMINISTRATIVE AGENT upon the occurrence of an EVENT OF DEFAULT. The authorization contained in this Section is not intended to impose any duty or obligation on the ADMINISTRATIVE AGENT to perform any action or make any advancement on behalf of the BORROWER and is intended to be for the sole benefit and protection of the LENDERS10.

Advancements. If the BORROWER fails Borrower shall fail to perform any of its agreements or the affirmative covenants contained in this AGREEMENT Article or to protect or preserve its assets and properties, or if the BORROWER fails Borrower shall fail to protect or preserve the COLLATERAL Collateral or the status and priority of the security interests interest of the SECURED PARTIES Lender in the COLLATERAL, and such failure shall remain uncured for three (3) BUSINESS DAYS after the ADMINISTRATIVE AGENT shall have notified the BORROWER thereofCollateral, the ADMINISTRATIVE AGENT for Lender may, if the account of the LENDERS may Borrower fails to make payments required to be made pursuant to any such covenants or to protect or preserve such assets or properties, make advances to perform the same on behalf of the BORROWER Borrower or to protect or preserve the COLLATERAL assets and properties of the Borrower or to protect and preserve the Collateral or the status and priority of the security interests interest of the SECURED PARTIES Lender in the COLLATERALCollateral, and all sums so advanced shall immediately upon advance advancement become secured by the security interests granted in interest created by this AGREEMENTAgreement, and shall become part the terms and provisions of this Agreement and all of the principal amount owed to the LENDERS with interest to be assessed at the ADJUSTED BASE RATE plus two hundred (200) BASIS POINTSLoan Documents. The BORROWER Borrower shall repay on demand all sums so advanced on the BORROWER’S Borrower’s behalf, plus all any expenses or costs incurred by the ADMINISTRATIVE AGENT, on account of the LENDERSLender, including reasonable legal attorneys’ fees, with interest thereonthereon at the Default Rate of Interest. The provisions of this Section shall not be construed to prevent the institution of the rights and remedies of the ADMINISTRATIVE AGENT Lender upon the occurrence of an EVENT OF DEFAULTEvent of Default by the Borrower. The Notwithstanding anything in this Section to the contrary, the authorization contained in this Section is not intended to shall impose any no duty or obligation on the ADMINISTRATIVE AGENT Lender to perform any action or to make any advancement on behalf of the BORROWER Borrower and is intended to be for the sole benefit and protection of the LENDERSLender.

Advancements. If the BORROWER Borrower fails to perform any of its agreements or covenants contained in this AGREEMENT Agreement or if the BORROWER Borrower fails to protect or preserve the COLLATERAL Collateral or the status and priority of the security interests interest of the SECURED PARTIES Lender in the COLLATERAL, and such failure shall remain uncured for three (3) BUSINESS DAYS after the ADMINISTRATIVE AGENT shall have notified the BORROWER thereofCollateral, the ADMINISTRATIVE AGENT for the account of the LENDERS Lender may make advances to perform the same on behalf of the BORROWER Borrower to protect or preserve the COLLATERAL Collateral or the status and priority of the security interests interest of the SECURED PARTIES Lender in the COLLATERALCollateral, and all sums so advanced shall immediately upon advance become secured by the security interests granted in this AGREEMENTAgreement, and shall become part of the principal amount owed to the LENDERS Lender with interest to be assessed at the ADJUSTED BASE RATE plus two hundred (200) BASIS POINTSapplicable rate thereon and subject to the terms and provisions of this Agreement and all of the Loan Documents. The BORROWER Borrower shall repay on demand all sums so advanced on the BORROWER’S Borrower’s behalf, plus all expenses or costs incurred by the ADMINISTRATIVE AGENT, on account of the LENDERSLender, including reasonable legal fees, with interest thereonthereon at the highest rate authorized in the Note. The provisions of this Section shall not be construed to prevent the institution of the rights and remedies of the ADMINISTRATIVE AGENT Lender upon the occurrence of an EVENT OF DEFAULTEvent of Default. The authorization contained in this Section is not intended to impose any duty or obligation on the ADMINISTRATIVE AGENT Lender to perform any action or make any advancement on behalf of the BORROWER Borrower and is intended to be for the sole benefit and protection of the LENDERSLender.

Advancements. If the BORROWER fails Borrower should fail to perform any of its agreements or the affirmative covenants contained in this AGREEMENT Article within any grace or cure period as herein provided, or if the BORROWER fails Borrower should fail to protect or preserve the COLLATERAL Collateral or the status and priority of the security interests interest of the SECURED PARTIES Bank in the COLLATERAL, and such failure shall remain uncured for three (3) BUSINESS DAYS after the ADMINISTRATIVE AGENT shall have notified the BORROWER thereofCollateral, the ADMINISTRATIVE AGENT for the account of the LENDERS Bank may make advances Advances to perform the same on behalf of the BORROWER Borrower. The Bank shall endeavor to protect or preserve give prior notice to the COLLATERAL or the status and priority Borrower of the security interests of the SECURED PARTIES in the COLLATERAL, and all such advancements; provided that failure to give notice shall not affect Borrower's liability therefor. All sums so advanced shall be deemed to be an Advance made pursuant to the Line of Credit and immediately upon advance advancement become secured by the security interests granted created and confirmed by this Agreement and the terms and provisions of this Agreement, the documents to be executed in connection with this AGREEMENTAgreement, and all of the applicable Loan Documents, and shall become part of the principal amount owed to the LENDERS Bank with interest to be assessed at the ADJUSTED BASE RATE plus two hundred (200) BASIS POINTSapplicable rate thereon. The BORROWER Borrower shall repay on demand all sums so advanced on the BORROWER’S Borrower's behalf, plus all any reasonable expenses or costs incurred by the ADMINISTRATIVE AGENT, on account of the LENDERSBank, including actual and reasonable legal attorney's fees, with interest thereonthereon at the highest rate provided for in the applicable Loan Documents from the date of advancement. The provisions of this Section shall not be construed to prevent the institution of the rights and remedies of the ADMINISTRATIVE AGENT Bank upon the occurrence of an EVENT OF DEFAULTEvent of Default by the Borrower. The contrary notwithstanding, the authorization contained in this Section is not intended to shall impose any no duty or obligation on the ADMINISTRATIVE AGENT Bank to perform any action or make any advancement Advance on behalf of the BORROWER Borrower and is intended to be for the sole benefit and protection of the LENDERSBank.

Advancements. If the BORROWER MORTGAGOR fails to perform any of its agreements or the covenants contained in this AGREEMENT MORTGAGE or if the BORROWER fails in any MORTGAGEE DOCUMENT, or to protect or preserve the COLLATERAL SECURED PROPERTY or the status and priority priorities of the liens and security interests of established or evidenced by the SECURED PARTIES in the COLLATERAL, and such failure shall remain uncured for three (3) BUSINESS DAYS after the ADMINISTRATIVE AGENT shall have notified the BORROWER thereofMORTGAGEE DOCUMENTS, the ADMINISTRATIVE AGENT for MORTGAGEES, after five (5) calendar days advance notice to the account of the LENDERS MORTGAGOR, may make advances to perform the same on behalf of the BORROWER to protect or preserve the COLLATERAL or the status and priority of the security interests of the SECURED PARTIES in the COLLATERALMORTGAGOR for such purposes, and all sums so advanced shall immediately upon advance advancement become a lien and security interest upon the SECURED PROPERTY and shall be secured by this MORTGAGE. The contrary notwithstanding, if in the MORTGAGEES' reasonable discretion, the value or security of the SECURED PROPERTY, or the status or the priority of the MORTGAGEES' liens and security interests granted thereon, is in this AGREEMENTimmediate peril, and the MORTGAGEES shall become part of the principal amount owed be required to provide only one (1) calendar day advance notice to the LENDERS with interest MORTGAGOR prior to be assessed at the ADJUSTED BASE RATE plus two hundred (200) BASIS POINTSmaking such advances. The BORROWER MORTGAGOR shall repay on demand all sums so advanced on the BORROWER’S MORTGAGOR'S behalf, plus all any reasonable expenses or costs incurred by the ADMINISTRATIVE AGENT, on account of the LENDERSMORTGAGEES, including without limitation reasonable legal attorney=s fees, with interest thereonthereon at the rate of fifteen percent (15%) per annum. The provisions of this Section shall not be construed to prevent the institution of the foreclosure or other rights and remedies of the ADMINISTRATIVE AGENT MORTGAGEES upon the occurrence of an EVENT OF DEFAULT. The contrary notwithstanding, the authorization contained in this Section is not intended to shall impose any no duty or obligation on the ADMINISTRATIVE AGENT MORTGAGEES to perform any action or make any advancement on behalf of the BORROWER MORTGAGOR and is intended to be for the sole benefit and protection of the LENDERSMORTGAGEES.

Advancements. If the BORROWER fails BORROWERS fail to perform any of its their agreements or covenants contained in this AGREEMENT or if the BORROWER fails BORROWERS fail to protect or preserve the COLLATERAL or the status and priority of the security interests of the SECURED PARTIES in the COLLATERAL, and such failure shall remain uncured for three (3) BUSINESS DAYS after the ADMINISTRATIVE AGENT shall have notified the BORROWER thereof, the ADMINISTRATIVE AGENT for the account of the LENDERS may make advances to perform the same on behalf of the BORROWER BORROWERS to protect or preserve the COLLATERAL or the status and priority of the security interests of the SECURED PARTIES in the COLLATERAL, and all sums so advanced shall immediately upon advance become secured by the security interests granted in this AGREEMENT, and shall become part of the principal amount owed to the LENDERS with interest to be assessed at the ADJUSTED BASE RATE plus two four hundred (200400) BASIS POINTS. The BORROWER BORROWERS shall repay on demand all sums so advanced on the BORROWER’S BORROWERS’ behalf, plus all expenses or costs incurred by the ADMINISTRATIVE AGENT, on account of the LENDERS, including reasonable legal fees, with interest thereon. The provisions of this Section shall not be construed to prevent the institution of the rights and remedies of the ADMINISTRATIVE AGENT upon the occurrence of an EVENT OF DEFAULT. The authorization contained in this Section is not intended to impose any duty or obligation on the ADMINISTRATIVE AGENT to perform any action or make any advancement on behalf of the BORROWER BORROWERS and is intended to be for the sole benefit and protection of the LENDERS.