Common use of Agent’s Power to Remedy Breaches Clause in Contracts

Agent’s Power to Remedy Breaches. If at any time the Chargor fails to perform any of the covenants contained in this Debenture it shall be lawful for the Agent, but the Agent shall have no obligation, to take such action on behalf of the Chargor (including, without limitation, the payment of money) as may in the Agent’s reasonable opinion be required to ensure that such covenants are performed. Any losses, costs, charges and expenses incurred by the Agent in taking such action shall be reimbursed by the Chargor immediately on written demand.

Agent’s Power to Remedy Breaches. If at any time the Chargor fails to perform any of the covenants contained in this Debenture Charge it shall be lawful for the Agent, but the Agent shall have no such obligation, to take such action on behalf of the Chargor (including, without limitation, the payment of money) as may in the Agent’s reasonable opinion be required to ensure that such covenants are performed. Any losses, costs, charges and expenses incurred by the Agent in taking such action shall be reimbursed by the Chargor immediately on written demand.