Advances by the Secured Party. Upon the occurrence and during the continuance of an Event of Default (after giving effect to all applicable notice and cure rights), the Secured Party may, at its sole option and in its sole discretion, take all such action as it deems appropriate and in so doing may expend such sums as the Secured Party 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 Secured Party may make for the protection of the Collateral hereof or which may be compelled to make by operation of law. All such sums and amounts so expended shall be reimbursed by the Debtor promptly upon timely notice thereof and demand therefore and shall constitute additional Secured Obligations. No such performance of any covenant or agreement by the Secured Party on behalf of the Debtor, and no such advance or expenditure therefor, shall relieve the Debtor of any default under the terms of this Agreement or the other Documents. The Secured Party 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 Debtor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.
Advances by the Secured Party. Each and every covenant herein contained shall be performed and kept by the Debtor solely at the Debtor’s expense. If the Debtor shall fail to perform or keep any of the covenants of whatsoever kind or nature contained in this instrument, the Secured Party, or any receiver appointed hereunder, may, but shall not be obligated to, make advances to perform the same on the Debtor’s behalf, and the Debtor hereby agrees to repay such sums upon demand plus interest as a part of the Indebtedness. No such advance shall be deemed to relieve the Debtor from any default hereunder.
Advances by the Secured Party. Upon the failure of the Debtor to perform any of the covenants and agreements contained herein, the Secured Party may, at its option and in its discretion, perform the same, or cause the performance of the same, and in so doing may expend such sums as the Secured Party 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 Secured Party 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 the Debtor 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 Note. No such performance of any covenant or agreement by the Secured Party on behalf of the Debtor, and no such advance or expenditure therefor, shall relieve the Debtor of any default under the terms of this Security Agreement. The Secured Party 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 Debtor in appropriate proceedings and against which adequate reserves are being maintained.
Advances by the Secured Party. Each and every covenant herein contained shall be performed and kept by Gemini solely at Gemini’s expense. If Gemini shall fail to perform or keep any of the covenants of whatsoever kind or nature contained in this instrument, the Secured Party, or any receiver appointed hereunder, may, but shall not be obligated to, make advances to perform the same on their behalf, and Gemini hereby agrees to repay such sums upon demand plus interest as a part of the Indebtedness. No such advance shall be deemed to relieve Gemini from any default hereunder.
Advances by the Secured Party. On failure of either Parent or any Subsidiary to perform any of the covenants and agreements contained herein, the Secured Party may, at its sole option and in its sole discretion, after giving notice to Parent or such Subsidiary and allowing such party reasonable time to perform such covenant or agreement, perform the same and in so doing may expend such sums as the Secured Party 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 Secured Party may make for the protection of the security granted hereby or which may be compelled to make by operation of law. All such sums and amounts so expended shall be repayable by Parent or such Subsidiary 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 a rate equal to the default rate specified in the Promissory Note. No such performance of any covenant or agreement by the Secured Party on behalf of either Parent or a Subsidiary, and no such advance or expenditure therefor, shall relieve such party of any default under the terms of this Security Agreement or any other documents relating to the Secured Obligations. The Secured Party 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 Parent or the Subsidiaries in appropriate proceedings and against which adequate reserves are being maintained in accordance with generally accepted accounting principles.
Advances by the Secured Party. At its option, but without being obligated to do so, the Secured Party may, upon prior written notice to Grantor, after the occurrence and during the continuance of an Event of Default or after a Termination Event or Early Termination Date shall have occurred (i) pay and discharge past due taxes, assessments and governmental charges, at any time levied on or with respect to any of the Collateral of Grantor which Grantor has failed to pay and discharge in accordance with the requirements of this Agreement or any of the other Facility Documents, and/or (ii) pay and discharge any claims of other creditors of Grantor which are secured by any Lien on any Collateral, provided, however, that nothing in this Section shall be construed as excusing any Grantor from the performance of, or imposing any obligation on the Secured Party to cure or perform, any covenants or other agreements of the Grantor with respect to any of the foregoing matters as set forth herein or in any of the other Facility Documents.
