ADVANCES TO PROTECT COLLATERAL. Pledgors agree to pay, prior to delinquency, all taxes, liens and assessments against the Collateral, and upon their failure to do so, Pledgees, at their option, may pay any of them, and shall be the sole judge of the legality or validity thereof and the amount necessary to discharge same, and Pledgors' failure to pay same shall be a default hereunder and the sums so advanced shall be due and payable to Pledgees together with interest thereon at the rate of twelve percent (12%) per annum until fully repaid.
ADVANCES TO PROTECT COLLATERAL. All insurance expenses and all expenses of protecting, storing, warehousing, insuring, handling, maintaining and shipping the Collateral (including all rent payable by any Loan Party to any landlord of any premises where any of the Collateral may be located) and any and all Taxes shall be borne and paid by such Loan Party. The Lender may (but shall not be obligated to) make advances to preserve, protect or obtain any of the Collateral, including advances to cure defaults for which such Loan Party has received written notice and is not contesting in good faith under any of the Material Agreements or advances to pay Taxes, insurance and the like and all such advances shall become part of the Obligations owing to the Lender hereunder and all such advances to cure such defaults shall be payable to the Lender on demand, with interest thereon from the date of such advance until paid at the Protective Advance Default Rate.
ADVANCES TO PROTECT COLLATERAL. Upon failure of the Company to procure any required insurance or to remove any prohibited encumbrance upon the Collateral or if any policy providing any required insurance is canceled, FHI may procure such insurance or remove any encumbrance on the Collateral and any amount expended by FHI for such purposes shall be immediately due and payable by the Company to FHI and shall be added to and become a part of the Obligations secured hereby and shall bear interest at the Interest Rate, as defined in the Credit Agreement.
ADVANCES TO PROTECT COLLATERAL. All insurance expense and all reasonable expenses of protecting, storing, warehousing, insuring, handling, maintaining and shipping the Collateral (including, without limitation, all rent payable by the Borrowers to any landlord of any premises where any of the Collateral may be located), and, any and all taxes shall be borne and paid by the Borrowers. After the occurrence and during the continuance of a Default, Lender may (but shall not be obligated to) make advances to preserve, protect or obtain any of the Collateral, including advances to cure defaults under any of the System agreements or advances to pay taxes, insurance and the like, and all such advances shall become part of the Obligations owing to Lender hereunder and shall be payable to Lender on demand, with interest thereon from the date of such advance until paid at the Default Rate in effect on the date of such advance.
ADVANCES TO PROTECT COLLATERAL. All insurance expense and all ------------------------------ expenses of protecting, storing, warehousing, insuring, handling, maintaining and shipping the Collateral (including, without limitation, all rent payable by the Borrowers to any landlord of any premises where any of the Collateral may be located), and, any and all taxes shall be borne and paid by the Borrowers. Lender may (but shall not be obligated to) make advances to preserve, protect or obtain any of the Collateral, including advances to cure defaults under any lease agreements for Sites or advances to pay taxes, insurance and the like, and all such advances shall become part of the Obligations owing to Lender hereunder and shall be payable to Lender on demand, with interest thereon from the date of such advance until paid at the Default Rate in effect on the date of such advance.
ADVANCES TO PROTECT COLLATERAL. Upon failure of the Company to procure any required insurance or to remove any prohibited encumbrance upon the Collateral or if any policy providing any required insurance is canceled, the Bank may procure such insurance or remove any encumbrance on the Collateral and any amounts expended by the Bank for such purposes shall be immediately due and payable by the Company to the Bank and shall be added to and become a part of the Obligations secured hereby and shall bear interest at the Prime Rate, as defined in the Credit Agreement, plus three percent (3%) per annum.
ADVANCES TO PROTECT COLLATERAL. All insurance expense and all expenses of protecting, storing, warehousing, insuring, handling, maintaining and shipping the Collateral (including, without limitation, all rent payable by Borrower to any landlord of any premises where any of the Collateral may be located), and, any and all taxes shall be borne and paid by Borrower. Lender may (but shall not be obligated to) make advances to preserve, protect or obtain any of the Collateral, including advances to cure defaults under any of the System Agreements or advances to pay taxes, insurance and the like, and all such advances shall become part of the Obligations owing to Lender hereunder and shall be payable to Lender on demand, with interest thereon from the date of such advance until paid at the Default Rate in effect on the date of such advance.
ADVANCES TO PROTECT COLLATERAL. All insurance expense and all expenses of protecting, storing, warehousing, insuring, handling, maintaining and shipping the Collateral (including all rent payable by any Loan Party to any landlord of any premises where any of the Collateral may be located) and any and all Taxes shall be borne and paid by such Loan Party. Administrative Agent on behalf of Secured Parties may (but shall not be obligated to) make advances to preserve, protect or obtain any of the Collateral, including advances to cure defaults under any of the Contracts or advances to pay Taxes, insurance and the like, and all such advances shall become part of the Obligations owing to Lenders hereunder and shall be payable to Administrative Agent on demand, with interest thereon from the date of such advance until paid at the Default Rate applicable to Base Rate Loans in effect on the date of such advance.
ADVANCES TO PROTECT COLLATERAL. All expenses of protecting, storing, warehousing, insuring, handling, maintaining and shipping the Collateral (including, without limitation, all rent payable by Borrower to any landlord of any Site), and, any and all taxes shall be borne and paid by Borrower. Lender may (but shall not be obligated to) make advances to preserve, protect or obtain any of the Collateral, including advances to cure, with the prior consent of Borrower, defaults under any lease agreements for Sites or advances to pay taxes, insurance and the like, and all such advances shall become part of the Obligations owing to Lender hereunder and shall be payable to Lender on demand, with interest thereon from the date of such advance until paid at the Default Rate in effect on the date of such advance.
ADVANCES TO PROTECT COLLATERAL. All insurance expenses and all expenses of protecting, storing, warehousing, insuring, handling, maintaining and shipping the Collateral (including all rent payable by any Borrower Group Member to any landlord of any premises where any of the Collateral may be located) and any and all Taxes shall be borne and paid by such Loan Party. The Lender may (but shall not be obligated to) make advances to preserve, protect or obtain any of the Collateral, including advances to cure defaults for which such Borrower Group Member has received written notice and is not contesting in good faith under any of the Material Agreements or advances to pay Taxes, insurance and the like and all such advances shall become part of the Obligations owing to the Lender hereunder and all such advances to cure such defaults shall be payable to the Lender on demand, with interest thereon from the date of such advance until paid at the Protective Advance Default Rate. Notwithstanding the foregoing, or any other provision of this Agreement to the contrary, if (i) Borrower requires funding of payments due in respect of the Senior Loan for the Bellport I Property, and requests that Lender advance such payments to Borrower for such purpose, and (ii) Lender, while not obligated to make any such advances, elects in its sole and absolute discretion to do so, then (iii) such advances shall be treated as additional advances of principal under the Loan, shall increase the principal balance of the Loan accordingly, and shall accrue interest at the Applicable Interest Rate, rather than at the Protective Advance Default Rate..........................................17 3.4
