Common use of Agent or Lender May Perform Covenants Clause in Contracts

Agent or Lender May Perform Covenants. If any Obligor fails to perform any of its obligations under any covenant contained in this Agreement or any other Document, the Agent or any Lender may (but has no obligation to), upon notice to the Borrowers, perform any covenant capable of being performed by it and, if the covenant requires the payment or expenditure of money, it may make an Advance to fund that requirement, which Advance shall be repaid by the Borrowers on demand. That Advance shall bear interest at a rate calculated and paid in accordance with Section 4 for the type of Advance made.

Agent or Lender May Perform Covenants. If any Obligor fails to perform any of its obligations under any covenant contained in this Agreement or any other Document, the Agent, the US Administrative Agent, the US Security Agent or any Lender may (but has no obligation to), upon notice to the Borrowers, perform any covenant capable of being performed by it and, if the covenant requires the payment or expenditure of money, it may make an Advance to fund that requirement, which Advance shall be repaid by the Borrowers on demand. That Advance shall bear interest at a rate calculated and paid in accordance with Section 4 for the type of Advance made4.