Advances by Issuer or Trustee. If the User shall fail to perform any of its covenants in this Lease Agreement, the Issuer or the Trustee may, at any time and from time to time, after written notice to the User if no Lease Default exists, make advances to effect performance of any such covenant on behalf of the User. Any money so advanced by the Issuer or the Trustee, together with interest at the base or prime rate of the Trustee plus 2%, shall be paid upon demand.
Appears in 5 contracts
Samples: Lease Agreement (Cavalier Homes Inc), Lease Agreement (Cavalier Homes Inc), Lease Agreement (Winsloew Furniture Inc)
Advances by Issuer or Trustee. If the User shall fail to perform any of its covenants in this Lease Agreement, the Issuer or the Trustee may, at any time and from time to time, after written notice to the User if no Lease Default exists, make advances to effect performance of any such covenant on behalf of the User. Any money so advanced by the Issuer or the Trustee, together with interest at the base or prime rate of the Trustee plus 2%two percent, shall be paid upon demand.
Appears in 3 contracts
Samples: Lease Agreement (Accuride Corp), Lease Agreement (Transportation Technologies Industries Inc), Bond Guaranty Agreement (Johnstown America Industries Inc)
Advances by Issuer or Trustee. If the User shall fail to perform any of its covenants in this Lease Agreement, the Issuer or the Trustee may, at any time and from time to time, after written notice to the User if no Lease User Agreement Default exists, make advances to effect performance of any such covenant on behalf of the User. Any money so advanced by the Issuer or the Trustee, together with interest at the base or prime rate of the Trustee plus 2%, shall be paid upon demand.
Appears in 1 contract
Samples: Lease Agreement (Cavalier Homes Inc)
Advances by Issuer or Trustee. If the User shall fail to perform any of its covenants in this Lease Loan Agreement, the Issuer or the Trustee may, at any time and from time to time, after written notice to the User if no Lease User Agreement Default exists, make advances to effect performance of any such covenant on behalf of the User. Any money so advanced by the Issuer or the Trustee, together with interest at the base or prime rate of the Trustee plus 2%, shall be paid upon demand.
Appears in 1 contract
