Common use of Agent May Perform Clause in Contracts

Agent May Perform. If any Grantor fails to perform any agreement contained herein, the Agent may, as the Agent deems necessary to protect the security interest granted hereunder in the Collateral or to protect the value thereof, but without any obligation to do so and without notice, itself perform, or cause performance of, such agreement, and the expenses of the Agent incurred in connection therewith shall be payable by such Grantor under Section 21(b).

Appears in 2 contracts

Samples: Security Agreement (Midway Games Inc), Security Agreement (Midway Games Inc)

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Agent May Perform. If any Grantor of the Grantors fails to perform any agreement contained herein, the Agent may, as the Agent deems reasonably necessary to protect the Secured Parties' security interest granted hereunder in the Collateral or to protect the value thereof, but without any obligation to do so and without further notice, itself perform, or cause performance of, such agreement, and the expenses of the Agent incurred in connection therewith shall be payable by such Grantor under Section 21(b20(b).

Appears in 1 contract

Samples: Security Agreement (International Rectifier Corp /De/)

Agent May Perform. If any Grantor of the Grantors fails to perform any agreement contained herein, the Agent may, as the Agent deems reasonably necessary to protect the Secured Parties’ security interest granted hereunder in the Collateral or to protect the value thereof, but without any obligation to do so and without further notice, itself perform, or cause performance of, such agreement, and the expenses of the Agent incurred in connection therewith shall be payable by such Grantor under Section 21(b13(b).

Appears in 1 contract

Samples: Credit Agreement (International Rectifier Corp /De/)

Agent May Perform. If any Grantor of the Grantors fails to perform any agreement contained herein, the Agent may, as the Agent deems reasonably necessary to protect the Secured Parties' security interest granted hereunder in the Collateral or to protect the value thereof, but without any obligation to do so and without further notice, itself perform, or cause performance of, such agreement, and the expenses of the Agent incurred in connection therewith shall be payable by such Grantor under Section 21(b13(b).

Appears in 1 contract

Samples: Security Agreement (International Rectifier Corp /De/)

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Agent May Perform. If any Grantor fails to perform any agreement contained herein, the Agent may, as the Agent deems necessary to protect the security interest granted hereunder in the Collateral or to protect the value thereof, but without any obligation to do so and without notice, itself perform, or cause performance of, such agreement, and the expenses of the Agent incurred in connection therewith shall be payable by such Grantor under Section 21(b)17.

Appears in 1 contract

Samples: Pledge and Security Agreement (Chemtura CORP)

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