Common use of Advances by Lender Clause in Contracts

Advances by Lender. On failure of Pledgor to perform any of the covenants and agreements contained herein, Lender may, at its sole option and in its reasonable discretion, upon ten (10) business days prior written notice to Pledgor, perform the same and in so doing may expend such sums as Lender may reasonably deem advisable in the performance thereof, including, without limitation, 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 Lender 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 Pledgor promptly upon notice and demand from Lender, shall constitute additional Obligations and shall bear interest from the date said amounts are expended at the default rate specified in the Loan Agreement. No such performance of any covenant or agreement by Lender on behalf of Pledgor, and no such advance or expenditure therefor, shall relieve Pledgor of any Event of Default. After an Event of Default, Lender 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 Pledgor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.

Advances by Lender. On failure of any Pledgor to perform any of the covenants and agreements contained herein, the Lender may, at its sole option and in its reasonable sole discretion, upon ten (10) business days prior written notice to Pledgor, perform the same and in so doing may expend such sums as the Lender may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any taxes, a payment to obtain a release of a lien Lien or potential lienLien, expenditures made in defending against any adverse claim and all other expenditures which the Lender may make for the protection of the security hereof or which it may be compelled to make by operation of law. All such sums and amounts so expended shall be repayable by Pledgor the Pledgors on a joint and several basis promptly upon notice thereof and demand from Lendertherefor, shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at the default rate specified provided in Section 2.11(b) of the Loan Credit Agreement. No such performance of any covenant or agreement by the Lender on behalf of any Pledgor, and no such advance or expenditure therefor, shall relieve Pledgor the Pledgors of any Event default under the terms of Defaultthis Agreement or the other Credit Documents. After an Event of Default, The Lender may make any payment hereby authorized in accordance with any xxxxbxxx, statement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such xxxxbxxx, 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 a Pledgor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.

Advances by Lender. On failure of any Pledgor to perform any of the covenants and agreements contained herein, the Lender may, at its sole option and in its reasonable discretion, upon ten (10) business days prior written notice to Pledgor, perform the same and in so doing may expend such sums as the Lender 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 Lien or potential lienLien, expenditures made in defending against any adverse claim and all other expenditures which the Lender 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 Pledgor the Pledgors on a joint and several basis promptly upon timely notice thereof and demand from Lendertherefor, shall constitute additional Pledgor Obligations and shall bear interest from the date said amounts are expended at the default rate specified in Section 3.01 of the Loan Revolving Credit Agreement. No such performance of any covenant or agreement by the Lender on behalf of any Pledgor, and no such advance or expenditure therefor, shall relieve Pledgor the Pledgors of any Event default under the terms of Defaultthis Pledge Agreement or the other Amended Credit Documents. After an Event of Default, The Lender may make any payment hereby authorized in accordance with any xxxxbill, statement xxatement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such xxxxbill, statement xxatement 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 a Pledgor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.

Advances by Lender. On failure of any Pledgor to perform any of the covenants and agreements contained herein, Lender may, at its sole option and in its reasonable sole discretion, upon ten (10) business days prior written notice to Pledgor, perform the same and in so doing may expend such sums as Lender may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any taxes, a payment to obtain a release of a lien Lien or potential lienLien, expenditures made in defending against any adverse claim and all other expenditures which Lender may make for the protection of the security hereof or which Lender may be compelled to make by operation of law. All such sums and amounts so expended shall be repayable by Pledgor the Pledgors on a joint and several basis promptly upon notice thereof and demand from Lendertherefor, shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at the default rate specified provided for in Section 2.3 of the Loan AgreementNote. No such performance of any covenant or agreement by Lender on behalf of any Pledgor, and no such advance or expenditure therefor, shall relieve Pledgor the Pledgors of any Event default under the terms of Defaultthis Pledge Agreement or the other Loan Documents. After an Event of Default, Lender may make any payment hereby authorized in accordance with any xxxxbill, statement xxatement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such xxxxbill, statement xxatement 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 a Pledgor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.

Advances by Lender. On failure of Pledgor any Obligor to perform any of the covenants and agreements contained herein, Lender may, at its sole option and in its reasonable sole discretion, upon ten (10) business days prior written notice to Pledgor, perform the same and in so doing may expend such sums as Lender 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 Lien or potential lienLien, expenditures made in defending against any adverse claim and all other expenditures which Lender 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 Pledgor promptly upon the Obligors immediately without notice and demand from Lenderor demand, shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at the default rate specified provided in Section 2.3 of the Loan AgreementNote. No such performance of any covenant or agreement by Lender on behalf of Pledgorany Obligor, and no such advance or expenditure therefor, shall relieve Pledgor the Obligors of any Event default under the terms of Defaultthis Agreement or the other Loan Documents. After an Event of Default, Lender may make any payment hereby authorized in accordance with any xxxxbill, statement xxatement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such xxxxbill, statement xxatement 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 Pledgor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAPclaim.