Common use of Advancements Clause in Contracts

Advancements. If the DEBTOR fails to perform any of the affirmative covenants contained in this Article or to protect or preserve its assets and properties, or if the DEBTOR fails to protect or preserve the COLLATERAL or the status and priority of the security interests of the SECURED PARTIES in the COLLATERAL, the SECURED PARTIES may make advances to perform the same on behalf of the DEBTOR or to protect or preserve the assets and properties of the DEBTOR or to protect or preserve the COLLATERAL or the status and priority of the security interest of the SECURED PARTIES in the COLLATERAL, and all sums so advanced shall immediately upon advance become secured by the security interest created by this AGREEMENT. The DEBTOR shall repay on demand all sums so advanced on the DEBTOR'S behalf, plus all expenses or costs incurred by the SECURED PARTIES, including reasonable legal fees, with interest thereon at the highest rate allowed under applicable LAW (not to exceed fifteen percent (15%) per annum). The provisions of this Section shall not be construed to prevent the institution of the rights and remedies of the SECURED PARTIES upon the occurrence of an

Advancements. If the DEBTOR BORROWER fails to perform any of the affirmative its agreements or covenants contained in this Article or to protect or preserve its assets and properties, AGREEMENT or if the DEBTOR BORROWER fails to protect or preserve the COLLATERAL or the status and priority of the security interests of the SECURED PARTIES in the COLLATERAL, the SECURED PARTIES may make advances to perform the same on behalf of the DEBTOR or to protect or preserve the assets and properties of the DEBTOR or to protect or preserve the COLLATERAL or the status and priority of the security interest of the SECURED PARTIES LENDER in the COLLATERAL, the LENDER 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 interest of the LENDER in the COLLATERAL, and all sums so advanced shall immediately upon advance become secured by the security interest created by interests granted in this AGREEMENT, and shall become part of the principal amount owed to the LENDER with interest to be assessed at the applicable rate thereon and subject to the terms and provisions of this AGREEMENT and all of the LOAN DOCUMENTS. The DEBTOR BORROWER shall repay on demand all sums so advanced on the DEBTORBORROWER'S behalf, plus all expenses or costs incurred by the SECURED PARTIESLENDER, including reasonable legal fees, with interest thereon at the highest rate allowed under applicable LAW (not to exceed fifteen percent (15%) per annum)provided for in the LOAN DOCUMENTS. The provisions of this Section shall not be construed to prevent the institution of the rights and remedies of the SECURED PARTIES LENDER upon the occurrence of an

Advancements. If the DEBTOR BORROWER fails to perform any of the affirmative its agreements or covenants contained in this Article or to protect or preserve its assets and properties, AGREEMENT or if the DEBTOR BORROWER fails to protect or preserve the COLLATERAL or the status and priority of the security interests of the SECURED PARTIES in the COLLATERAL, the SECURED PARTIES may make advances to perform the same on behalf of the DEBTOR or to protect or preserve the assets and properties of the DEBTOR or to protect or preserve the COLLATERAL or the status and priority of the security interest of the SECURED PARTIES LENDER in the COLLATERAL, the LENDER 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 interest of the LENDER in the COLLATERAL, and all sums so advanced shall immediately upon advance become secured by the security interest created by interests granted in this AGREEMENT, and shall become part of the principal amount owed to the LENDER with interest to be assessed at the applicable rate thereon and subject to the terms and provisions of this AGREEMENT and all of the LOAN DOCUMENTS. The DEBTOR BORROWER shall repay on demand all sums so advanced on the DEBTORBORROWER'S behalf, plus all expenses or costs incurred by the SECURED PARTIESLENDER, including reasonable legal fees, with interest thereon at the highest rate allowed under applicable LAW (not to exceed fifteen percent (15%) per annum)authorized in the NOTE. The provisions of this Section shall not be construed to prevent the institution of the rights and remedies of the SECURED PARTIES upon the occurrence of anLENDER

Advancements. If either of the DEBTOR BORROWERS fails to perform any of the affirmative its agreements or covenants contained in this Article or to protect or preserve its assets and properties, AGREEMENT or if the DEBTOR fails to protect or preserve the COLLATERAL or the status and priority either of the security interests of the SECURED PARTIES in the COLLATERAL, the SECURED PARTIES may make advances to perform the same on behalf of the DEBTOR or to protect or preserve the assets and properties of the DEBTOR or BORROWERS fails to protect or preserve the COLLATERAL or the status and priority of the security interest of the SECURED PARTIES LENDER in the COLLATERAL, the LENDER may make advances to perform the same on behalf of such BORROWER to protect or preserve the COLLATERAL or the status and priority of the security interest of the LENDER in the COLLATERAL, and all sums so advanced shall immediately upon advance become secured by the security interest created by interests granted in this AGREEMENT, and shall become part of the principal amount owed to the LENDER with interest to be assessed at the applicable rate thereon and subject to the terms and provisions of this AGREEMENT and all of the LOAN DOCUMENTS. The DEBTOR BORROWERS shall repay on demand all sums so advanced on the DEBTORany BORROWER'S behalf, plus all expenses or costs incurred by the SECURED PARTIESLENDER, including reasonable legal fees, with interest thereon at the highest rate allowed under applicable LAW (not to exceed fifteen percent (15%) per annum)authorized in any of the NOTE. The provisions of this Section shall not be construed to prevent the institution of the rights and remedies of the SECURED PARTIES LENDER upon the occurrence of an

Advancements. If the DEBTOR BORROWER fails to materially perform any of the affirmative its agreements or covenants contained in this Article or to protect or preserve its assets and properties, AGREEMENT or if the DEBTOR BORROWER fails to protect or preserve the COLLATERAL or the status and priority of the security interests of the SECURED PARTIES in the COLLATERAL, the SECURED PARTIES may make advances to perform the same on behalf of the DEBTOR or to protect or preserve the assets and properties of the DEBTOR or to protect or preserve the COLLATERAL or the status and priority of the security interest of the SECURED PARTIES LENDER in the COLLATERAL, the LENDER 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 interest of the LENDER in the COLLATERAL, and all sums so advanced shall immediately upon advance become secured by the security interest created by interests granted in this AGREEMENT, and shall become part of the principal amount owed to the LENDER with interest to be assessed at the applicable rate thereon in accordance with the NOTE and subject to the terms and provisions of this AGREEMENT and all of the LOAN DOCUMENTS. The DEBTOR BORROWER shall repay on demand all sums so advanced on the DEBTORBORROWER'S behalf, plus all expenses or costs incurred by the SECURED PARTIESLENDER, including reasonable legal fees, with interest thereon at the highest rate allowed under applicable LAW (not to exceed fifteen percent (15%) per annum)authorized in the NOTE. The provisions of this Section shall not be construed to prevent the institution of the rights and remedies of the SECURED PARTIES LENDER upon the occurrence of an

Advancements. If the DEBTOR fails Trustor should fail to perform any of the affirmative covenants contained in this Article Deed of Trust, or to protect or preserve its assets and properties, or if the DEBTOR fails to protect or preserve the COLLATERAL Secured Property or the status and priority of the lien and security interests interest of the SECURED PARTIES in the COLLATERALthis Deed of Trust, the SECURED PARTIES may Beneficiary may, but shall not be obligated to, make advances to perform the same on behalf of the DEBTOR Trustor or to protect or preserve the assets and properties of the DEBTOR or to protect or preserve the COLLATERAL Secured Property or the status and priority of the lien and security interest of the SECURED PARTIES in the COLLATERALthis Deed of Trust, 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 Deed of Trust. For the security purposes of taking any and all acts as set forth in this Section 1.5., the Trustor hereby constitutes and appoints the Beneficiary as its attorney in fact and the power of attorney granted hereby shall be deemed to be coupled with an interest created by this AGREEMENTand irrevocable. The DEBTOR shall Trustor, will repay on demand all sums so advanced on the DEBTOR'S Trustor's behalf, plus all any expenses or costs incurred by the SECURED PARTIESTrustees or the Beneficiary, including reasonable legal attorneys fees, with interest thereon at the highest rate allowed of interest permitted under applicable LAW (not to exceed fifteen percent (15%) per annum)the Promissory Note. The provisions of this Section shall not be construed to prevent the institution of the foreclosure or other rights and remedies of the SECURED PARTIES Trustees upon the occurrence of anan Event of Default hereunder.