Common use of Advances by Holders of the Secured Obligations Clause in Contracts

Advances by Holders of the Secured Obligations. On failure of the Pledgor to perform any of the covenants and agreements contained herein, the Collateral Agent may, at its sole option and in its reasonable discretion, perform the same (provided that the Collateral Agent shall promptly give the Borrower notice of such performance after the fact) and in so doing may expend such sums as the Collateral Agent may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien or potential Lien, expenditures made in defending against any adverse claim and all other expenditures which the Collateral Agent or the holders of the Secured Obligations may make for the protection of the security hereof or which may be compelled to make by operation of law. All such sums and amounts so expended shall be repayable by the Pledgor promptly upon timely notice thereof and demand therefor, shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at the default rate specified in the Credit Agreement for Revolving Loans that are ABR Loans (or, in the case of the SpaceCom Credit Agreement, Revolving Credit Loans that are Base Rate Loans). No such performance of any covenant or agreement by the Collateral Agent or the holders of the Secured Obligations on behalf of the Pledgor, and no such advance or expenditure therefor, shall relieve the Pledgor of any default under the terms of this Pledge Agreement, the other Credit Documents or any other documents relating to the Secured Obligations. The holders of the Secured Obligations may make any payment hereby authorized in accordance with any xxxx, statement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by the Pledgor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.

Advances by Holders of the Secured Obligations. On failure of the any Pledgor to perform any of the covenants and agreements contained herein, the Collateral Agent may, at its sole option and in its reasonable sole discretion, upon notice to the Pledgors, perform the same (provided that the Collateral Agent shall promptly give the Borrower notice of such performance after the fact) and in so doing may expend such sums as the Collateral Agent may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien or potential LienLien (other than a Lien permitted pursuant to the terms of the Note Documents), expenditures made in defending against any adverse claim and all other expenditures which that the Collateral Agent or the holders of the Secured Obligations may make for the protection of the security hereof or which may be compelled to make by operation of law. All such sums and amounts so expended shall be repayable by the Pledgor Pledgors on a joint and several basis (subject to Section 24 hereof) promptly upon timely notice thereof and demand therefor, shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at the default rate specified in the Credit Agreement for Revolving Loans that are ABR Loans (or, in the case of the SpaceCom Credit Agreement, Revolving Credit Loans that are Base Rate Loans)Default Rate. No such performance of any covenant or agreement by the Collateral Agent or the holders of the Secured Obligations on behalf of the any Pledgor, and no such advance or expenditure therefor, shall relieve the Pledgor Pledgors of any default under the terms of this Domestic Pledge Agreement, the other Credit Note Documents or any other documents relating to the Secured Obligations. The holders of the Secured Obligations may make any payment hereby authorized in accordance with any xxxx, statement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by the a Pledgor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.

Advances by Holders of the Secured Obligations. On failure Upon the occurrence and during the continuation of an Event of Default and upon prior written notice to the Pledgor to perform any of the covenants and agreements contained hereinPledgors, the Collateral Administrative Agent may, at its sole option and in its reasonable sole discretion, perform the same (provided that the Collateral Agent shall promptly give the Borrower notice of such performance after the fact) and in so doing may expend such sums as the Collateral Administrative Agent may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien or potential Lien, expenditures made in defending against any adverse claim and all other expenditures which that the Collateral Administrative Agent (for itself or on behalf of the other holders of the Secured Obligations Obligations) may make for the protection of the security hereof or which may be compelled to make by operation of law. All such sums and amounts so expended shall be repayable by the Pledgor promptly upon timely Pledgors on a joint and several basis within ten Business Days after notice thereof and demand therefor, shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at the default rate specified in the Credit Agreement Default Rate for Revolving Loans that are ABR Loans (or, in the case of the SpaceCom Credit Agreement, Revolving Credit Loans that are Base Rate Loans). No such performance of any covenant or agreement by the Collateral Administrative Agent or the holders of the Secured Obligations on behalf of the any Pledgor, and no such advance or expenditure therefor, shall relieve the Pledgor Pledgors of any default under the terms of this Pledge Agreement, the other Credit Loan Documents or any other documents relating to the Secured Obligations. The holders of the Secured Obligations Administrative Agent may make any payment hereby authorized in accordance with any xxxx, statement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by the a Pledgor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.

Advances by Holders of the Secured Obligations. On failure of the any Pledgor to perform any of the covenants and agreements contained herein, the Collateral Agent may, at its sole option and in its reasonable discretionpursuant to the Intercreditor Agreement, perform the same (provided that the Collateral Agent shall promptly give the Borrower notice of such performance after the fact) and in so doing may expend such sums as the Collateral Agent may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien or potential Lien, expenditures made in defending against any adverse claim and all other expenditures which that the Collateral Agent or the holders of the Secured Obligations may make for the protection of the security hereof or which may be compelled to make by operation of law. All such sums and amounts so expended shall be repayable by the Pledgor Pledgors on a joint and several basis promptly upon timely notice thereof and demand therefor, shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at the greater of (a) the default rate specified in the Revolver Credit Agreement for Revolving Base Rate Loans that are ABR Loans and (or, b) the default rate specified in the case of the SpaceCom Term Loan Credit Agreement, Revolving Credit Loans that are Agreement for Base Rate Loans). No such performance of any covenant or agreement by the Collateral Agent or the holders of the Secured Obligations on behalf of the any Pledgor, and no such advance or expenditure therefor, shall relieve the Pledgor Pledgors of any default under the terms of this Pledge Agreement, the other Credit Financing Documents or any other documents relating to the Secured Obligations. The holders of the Secured Obligations may make any payment hereby authorized in accordance with any xxxx, statement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by the a Pledgor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.

Advances by Holders of the Secured Obligations. On failure of the any Pledgor to perform any of the covenants and agreements contained herein, the Collateral Agent may, at its sole option and in its reasonable sole discretion, perform the same (provided that the Collateral Agent shall promptly give the Borrower notice of such performance after the fact) and in so doing may expend such sums as the Collateral Agent may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien or potential Lien, expenditures made in defending against any adverse claim and all other expenditures which the Collateral Agent or the holders of the Secured Obligations may make for the protection of the security hereof or which may be compelled to make by operation of law. All such reasonable and documented sums and amounts so expended shall be repayable by the Pledgor Pledgors on a joint and several basis promptly upon timely notice thereof and demand therefor, shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at the default rate specified in Section 3.1 of the Credit Agreement for Revolving Loans that are ABR Loans (or, in the case of the SpaceCom Credit Agreement, Revolving Credit Loans that are Base Rate Loans). No such performance of any covenant or agreement by the Collateral Agent or the holders of the Secured Obligations on behalf of the any Pledgor, and no such advance or expenditure therefor, shall relieve the Pledgor Pledgors of any default under the terms of this Pledge Agreement, the other Credit Documents or any other documents relating to the Secured Obligations. The holders of the Secured Obligations may make any payment hereby authorized in accordance with any xxxxbill, statement or estimate procured from the appropriate public office xxxxce or holder of the claim to be discharged without inquiry into the accuracy of such xxxxbill, statement or estimate or into the validity of any tax assessmentasxxxxment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by the a Pledgor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.

Advances by Holders of the Secured Obligations. On failure of the any Pledgor to perform any of the covenants and agreements contained herein, the Collateral Administrative Agent may, at its sole option and in its reasonable sole discretion, perform the same (provided that the Collateral Agent shall promptly give the Borrower notice of such performance after the fact) and in so doing may expend such sums as the Collateral Administrative Agent may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien or potential Lien, expenditures made in defending against any adverse claim and all other expenditures which that the Collateral Administrative Agent or the holders of the Secured Obligations may make for the protection of the security hereof or which may be compelled to make by operation of law. All such sums and amounts so expended shall be repayable by the Pledgor Pledgors on a joint and several basis promptly upon timely notice thereof and demand therefor, shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at the default rate specified in Section 2.08 of the Credit Agreement for Revolving Loans that are ABR Loans (or, in the case of the SpaceCom Credit Agreement, Revolving Credit Loans that are Base Rate Revolving Loans). No such performance of any covenant or agreement by the Collateral Administrative Agent or the holders of the Secured Obligations on behalf of the any Pledgor, and no such advance or expenditure therefor, shall relieve the Pledgor Pledgors of any default under the terms of this Pledge Agreement, the other Credit Loan Documents or any other documents relating to the Secured Obligations. The holders of the Secured Obligations may make any payment hereby authorized in accordance with any xxxxbill, statement or estimate procured from the appropriate public office offxxx or holder of the claim to be discharged without inquiry into the accuracy of such xxxxbill, statement or estimate or into the validity of any tax assessmentassessmexx, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by the a Pledgor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.

Advances by Holders of the Secured Obligations. On failure of the Pledgor to perform any of the covenants and agreements contained hereinherein and upon prior written notice to the Pledgor, the Collateral Agent may, at its sole option and in its reasonable sole discretion, perform the same (provided that the Collateral Agent shall promptly give the Borrower notice of such performance after the fact) and in so doing may expend such sums as the Collateral Agent may reasonably deem advisable in the performance thereof, including, without limitation, including the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien or potential Lien, expenditures made in defending against any adverse claim and all other expenditures which that the Collateral Agent or the holders of the Secured Obligations may make for the protection of the security hereof or which may be compelled to make by operation of lawLaw. All such sums and amounts so expended shall be repayable by the Pledgor promptly upon timely notice thereof and demand therefor, shall constitute additional Secured Obligations and shall shall, subjection to Section 2.08 of the Credit Agreement, bear interest from the date said amounts are expended at the default rate specified in the Credit Agreement for then applicable to Revolving Loans that are ABR Loans (or, in the case of the SpaceCom Credit Agreement, Revolving Credit Loans that are Base Rate Loans). No such performance of any covenant or agreement by the Collateral Agent or the holders of the Secured Obligations on behalf of the Pledgor, and no such advance or expenditure therefor, shall relieve the Pledgor of any default under the terms of this Pledge Agreement, the other Credit Loan Documents or any other documents relating to the Secured Obligations. The holders of the Secured Obligations Collateral Agent may make any payment hereby authorized in accordance with any xxxx, statement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by the Pledgor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.. XXXXXXXXX WORLD INDUSTRIES, INC. AMENDED AND RESTATED CANADIAN PLEDGE AGREEMENT

Advances by Holders of the Secured Obligations. On failure of the any Pledgor to perform any of the covenants and agreements contained herein, the Collateral Agent may, at its sole option and in its reasonable sole discretion, perform the same (provided that the Collateral Agent shall promptly give the Borrower notice of such performance after the fact) and in so doing may expend such sums as the Collateral Agent may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien or potential Lien, expenditures made in defending against any adverse claim and all other expenditures which the Collateral Agent or the holders of the Secured Obligations may make for the protection of the security hereof or which may be compelled to make by operation of law. All such sums and amounts so expended shall be repayable by the Pledgor Pledgors on a joint and several basis (subject to Section 25 hereof) promptly upon timely notice thereof and demand therefor, shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at the default rate specified in the Credit Agreement Default Rate for Revolving Loans that are ABR Loans (or, in the case of the SpaceCom Credit Agreement, Revolving Credit Loans that are Base Rate Loans). No such performance of any covenant or agreement by the Collateral Agent or the holders of the Secured Obligations on behalf of the any Pledgor, and no such advance or expenditure therefor, shall relieve the Pledgor Pledgors of any default under the terms of this Pledge Agreement, the other Credit Documents or any other documents relating to the Secured Obligations. The holders of the Secured Obligations may make any payment hereby authorized in accordance with any xxxx, statement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by the a Pledgor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.

Advances by Holders of the Secured Obligations. On failure of the Pledgor any Obligor to perform any of the covenants and agreements contained herein, the Collateral Agent may, at its sole option and in its reasonable sole discretion, perform the same (provided that the Collateral Agent shall promptly give the Borrower notice of such performance after the fact) and in so doing may expend such sums as the Collateral Agent may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien or potential Lien, expenditures made in defending against any adverse claim and all other expenditures which the Collateral Agent or the holders of the Secured Obligations may make for the protection of the security hereof or which may be compelled to make by operation of law. All such reasonable and documented sums and amounts so expended shall be repayable by the Pledgor Obligors on a joint and several basis promptly upon timely notice thereof and demand therefor, shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at the default rate specified in Section 3.1 of the Credit Agreement for Revolving Loans that are ABR Loans (or, in the case of the SpaceCom Credit Agreement, Revolving Credit Loans that are Base Rate Loans). No such performance of any covenant or agreement by the Collateral Agent or the holders of the Secured Obligations on behalf of the Pledgorany Obligor, and no such advance or expenditure therefor, shall relieve the Pledgor Obligors of any default under the terms of this Pledge Security Agreement, the other Credit Documents or any other documents relating to the Secured Obligations. The holders of the Secured Obligations may make any payment hereby authorized in accordance with any xxxxbill, statement or estimate procured from the appropriate public office xxxxce or holder of the claim to be discharged without inquiry into the accuracy of such xxxxbill, statement or estimate or into the validity of any tax assessmentasxxxxment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by the Pledgor an Obligor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.