Common use of Advancements Clause in Contracts

Advancements. If Grantor shall fail to perform any of the covenants or obligations contained herein or in any other instrument given as additional security for the Note secured hereby, the Beneficiary may, but without obligation, make advancements to perform such covenants or obligations, and all such sums so advanced shall be added to the principal sum, shall bear interest at the rate provided in the Note secured hereby for sums due after default and shall be due from Grantor on demand of the Beneficiary. No advancement or anything contained in this paragraph shall constitute a waiver by Beneficiary or prevent such failure to perform from constituting an event of default.

Appears in 2 contracts

Samples: Deed of Trust, Deed of Trust

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Advancements. If Grantor shall fail to perform any of the covenants or obligations contained herein or in any other instrument given as additional security for the Note secured hereby, the Beneficiary may, but without obligation, make advancements advances to perform such covenants or obligations, and all such sums so advanced shall be added to the principal sum, shall bear interest at the rate provided in the Note secured hereby for sums due after default and shall be due from Grantor on demand of the Beneficiary. No advancement or anything contained in this paragraph shall constitute a waiver by Beneficiary or prevent such failure to perform from constituting an event of default.

Appears in 2 contracts

Samples: Deed of Trust (Biomedical Technology Solutions Holdings Inc), Deed of Trust (Capitol First Corp)

Advancements. If Grantor shall fail to perform any of the covenants or obligations contained herein or in any other instrument given as additional security for the Note secured herebyhereby or other agreements entered into between Beneficiary and Grantor in connection with the Note, or if the Grantor shall fail to perform any of its obligations or covenants secured by a deed of trust lien or other lien senior to the lien of this Deed of Trust (including, without limitation, payment of the indebtedness secured thereby), the Beneficiary may, but without obligation, make advancements advances to perform such covenants or obligations, and all such sums so advanced shall be added to the principal sum, shall bear interest at the rate provided in of the Note secured hereby for sums due after default and shall be due from Grantor on demand of the Beneficiary. No advancement or anything contained in this paragraph or elsewhere shall constitute a waiver by Beneficiary or prevent such failure to perform from constituting an event of default.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (Waste Recovery Inc)

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Advancements. If Grantor shall fail to perform any of the covenants or obligations contained herein or in any other instrument given as additional security for the Note secured hereby, the Beneficiary may, but without obligation, make advancements advances to perform such covenants or obligations, and all such sums so advanced shall be added to the principal sum, shall bear interest at the rate provided in the Note secured hereby for sums due after default and shall be due from Grantor on demand of the Beneficiary. No advancement or anything contained in this paragraph shall constitute a waiver by Beneficiary or prevent such failure to perform from constituting an event of default.

Appears in 1 contract

Samples: Settlement Agreement

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