Common use of Beneficiary's Right to Perform Clause in Contracts

Beneficiary's Right to Perform. Beneficiary's Expenditures (a) Trustor agrees that if Trustor fails to perform any act or take any action which Trustor is required to perform or take hereunder or under the Credit Agreement or to pay any money which Trustor is required to pay hereunder or under the Credit Agreement, Beneficiary may, but shall not be obligated to, perform or cause to be performed such act or take such action or pay such money, to the extent and only to the extent permitted under the Credit Agreement. (b) All costs and expenses incurred by Beneficiary (or any Indemnified Party), including, without limitation, attorneys fees, costs and expenses, all monies paid by (or on behalf of) Beneficiary and the monetary value of all services performed by (or on behalf of Beneficiary) in connection with a Default or Event of Default hereunder or under any other Loan Document, including, without limitation, the (i) the enforcement of any term or provision of this Deed of Trust or any other Loan Document, (ii) the performance by Beneficiary of any obligation of Trustor under this Deed of Trust or any other Loan Document if Beneficiary elects to so perform, in its sole and absolute discretion, and (iii) any action Beneficiary elects to take, in its sole and absolute discretion, to protect its interest in or the value of the Trust Property, shall be a demand obligation owing by Trustor to Beneficiary, as the case may be, and to the extent any payment is made to a third Person, Beneficiary, upon making such payment, shall be subrogated to all of the rights of the Person receiving such payment. All such costs and expenses, monies and the monetary value of such services performed shall (x) bear interest at the Default Rate from the date of such incurrence, payment or performance, as applicable, until paid, and (y) constitute (together with such interest) a portion of the Obligations and shall be secured by this Deed of Trust and all of the other Loan Documents. If Beneficiary shall elect to pay any Imposition or other sums due with reference to the Trust Property, Beneficiary may do so in reliance on any xxxx, statement or assessment procured from the appropriate Governmental Authority or other issuer thereof. Attorneys' fees, costs and expenses as used herein shall include, without limitation, such fees, costs and expenses incurred in litigation or not, whether before or after judgment and and consultants, court costs, expert witness fees, document reproduction expenses, costs of exhibit preparation, courier charges, postage and communication expenses. This provision is separate and several, and shall survive merger into any judgment. Trustor shall and does hereby agree that, if all or a portion of the Obligations has prior to the maturity date fixed in the Credit Agreement, become due or been declared due by reason of an Event of Default the entire amount then due under the terms of this Deed of Trust and the Credit Agreement shall include all attorneys' fees and costs and expenses which are actually incurred as stated above.

Appears in 1 contract

Samples: Deed of Trust (Lakes Entertainment Inc)

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Beneficiary's Right to Perform. Beneficiary's Expenditures. (aA) Trustor agrees that if Trustor fails to perform any act or take any action which Trustor is required to perform or take hereunder or under the Credit Financing Agreement or to pay any money which Trustor is required to pay hereunder or under the Credit Financing Agreement, Beneficiary may, but shall not be obligated to, perform or cause to be performed such act or take such action or pay such money, money to the extent and only to the extent permitted under the Credit Financing Agreement. (bB) All costs and expenses incurred by Beneficiary (or any Indemnified Party), including, without limitation, attorneys fees, costs and expenses, all monies paid by (or on behalf of) Beneficiary and the monetary value of all services performed by (or on behalf of Beneficiary) in connection with a Default or Event of Default hereunder or under any other Loan Document, including, without limitation, the (i) the enforcement of any term or provision of this Deed of Trust or any other Loan Document, (ii) the performance by Beneficiary of any obligation of Trustor under this Deed of Trust or any other Loan Document if Beneficiary elects to so perform, in its sole and absolute discretion, and (iii) any action Beneficiary elects to take, in its sole and absolute discretion, to protect its interest in or the value of the Trust Property, shall be a demand obligation owing by Trustor to Beneficiary, as the case may be, and to the extent any payment is made to a third Person, Beneficiary, upon making such payment, shall be subrogated surrogated to all of the rights of the Person receiving such payment. All such costs and expenses, monies and the monetary value of such services performed shall (x) bear interest at the Post-Default Rate from the date of such incurrence, payment or performance, as applicable, until paid, and (y) constitute (together with such interest) a portion of the Obligations and shall be secured by this Deed of Trust and all of the other Loan Documents. If Beneficiary shall elect to pay any Imposition or other sums due with reference to the Trust Property, Beneficiary may do so in reliance on any xxxxbill, statement or assessment procured from the appropriate Governmental Governmenxxx Authority or other issuer thereof. Attorneys' fees, costs and expenses as used herein shall include, without limitation, such fees, costs and expenses incurred in litigation or not, whether before or after judgment and and consultants, court costs, expert witness fees, document reproduction expenses, costs of exhibit preparation, courier charges, postage and communication expenses. This provision is separate and several, and shall survive merger into any judgment. Trustor shall and does hereby agree that, if all or a portion of the Obligations has prior to the maturity date fixed in the Credit Financing Agreement, become due or been declared due by reason of an Event of Default the entire amount then due under the terms of this Deed of Trust and the Credit Financing Agreement shall include all attorneys' fees and costs and expenses which are actually incurred as stated above, notwithstanding the provisions of Section 2924c(d) and Section 2924d of the California Civil Code.

Appears in 1 contract

Samples: Deed of Trust (Lakes Entertainment Inc)

Beneficiary's Right to Perform. Beneficiary's Expenditures (a) Trustor agrees that if Trustor If Grantor fails to perform any act of the covenants or take any action which Trustor is required to perform or take hereunder or under agreements of Grantor set forth in this Deed of Trust within the Credit Agreement or to pay any money which Trustor is required to pay hereunder or under applicable notice and grace period, if any, provided for in the Indenture and the Term Loan Credit Agreement, then Beneficiary or Trustee, without waiving or releasing Grantor from any obligation or default under this Deed of Trust, may, at any time (but shall not be obligated under no obligation to) pay or perform the same, perform and the amount or cause cost thereof, with interest at the Default Rate, shall immediately be due from Grantor to be performed such act Beneficiary or take such action or pay such money, to Trustee. To the extent that any such amounts or costs paid by Beneficiary or Trustee shall constitute payment of (i) real estate taxes and only to assessments, (ii) premiums on insurance policies covering the extent permitted under the Credit Agreement. Premises, (biii) All costs and expenses incurred by Beneficiary (in upholding or any Indemnified Party)enforcing the lien of this Deed of Trust, including, without limitation, attorneys fees, costs and expenses, all monies paid by (or on behalf of) Beneficiary and the monetary value of all services performed by (or on behalf of Beneficiary) in connection with a Default or Event of Default hereunder or under any other Loan Document, including, without limitationbut not limited to, the (i) the enforcement expenses of any term litigation to prosecute or provision of defend the rights and lien created by this Deed of Trust or (iv) any other Loan Documentamount, (ii) the performance by costs or charge to which Beneficiary or Trustee becomes subrogated, upon payment, whether under recognized principles of any obligation of Trustor law or equity, or under this Deed of Trust or any other Loan Document if Beneficiary elects to so performexpress statutory authority, in its sole and absolute discretionthen, and (iii) any action Beneficiary elects to takein each such event, in its sole and absolute discretionsuch amounts or costs, to protect its together with interest in or thereon at the value of the Trust PropertyDefault Rate, shall be a demand obligation owing by Trustor to Beneficiary, as the case may be, and to the extent any payment is made to a third Person, Beneficiary, upon making such payment, shall be subrogated to all of the rights of the Person receiving such payment. All such costs and expenses, monies and the monetary value of such services performed shall (x) bear interest at be added to the Default Rate from the date of such incurrenceSecured Obligations, payment or performance, as applicable, until paid, and (y) constitute (together with such interest) a portion of the Obligations and shall be secured by this Deed of Trust and all of (z) be a lien on the other Loan Documents. If Beneficiary shall elect Trust Property prior to pay any Imposition right, title to, interest in, or other sums due with reference claim upon the Trust Property attaching subsequent to the Trust Propertylien of this Deed of Trust. No payment or advance of money by Beneficiary or Trustee under this Section shall be deemed or construed to cure Grantor’s default or waive any right or remedy of Beneficiary or Trustee. Upon the occurrence and during the continuance of any Event of Default or if Grantor fails to make any payment or to do any act as herein provided, Beneficiary may may, but without any obligation to do so and without notice to or demand on Grantor and without releasing Grantor from any obligation hereunder, make or do the same in reliance on such manner and to such extent as Beneficiary may deem necessary to protect the security hereof. Beneficiary is authorized to enter upon the Real Estate for such purposes and, upon the occurrence and during the continuance of any xxxxEvent of Default, statement (i) appear in, defend, or assessment procured from bring any action or proceeding to protect its interest in the appropriate Governmental Authority Real Estate, (ii) foreclose this Deed of Trust or (iii) collect the Secured Obligations, and the cost and expense thereof (including reasonable attorneys’ fees to the extent permitted by law), with interest at the Default Rate. All other issuer thereof. Attorneys' fees, costs and expenses as used herein shall include, without limitation, such fees, costs and expenses incurred by Beneficiary in litigation remedying such Event of Default or notsuch failed payment or act or in appearing in, whether before defending, or bringing any such action or proceeding (including reasonable attorneys’ fees to the extent permitted by law) shall bear interest at the Default Rate, for the period after judgment notice from Beneficiary that such cost or expense was incurred to the date of payment to Beneficiary. All such other costs and and consultants, court costs, expert witness fees, document reproduction expenses, costs of exhibit preparation, courier charges, postage and communication expenses. This provision is separate and several, and expenses incurred by Beneficiary together with interest thereon calculated at the Default Rate shall survive merger into any judgment. Trustor shall and does hereby agree that, if all or be deemed to constitute a portion of the Secured Obligations has prior to the maturity date fixed in the Credit Agreement, become due or been declared due and be secured by reason of an Event of Default the entire amount then due under the terms of this Deed of Trust and the Credit Agreement other Financing Documents and shall include all attorneys' fees be immediately due and costs and expenses which are actually incurred as stated abovepayable upon demand by Beneficiary therefor.

Appears in 1 contract

Samples: Indenture (Smithfield Foods Inc)

Beneficiary's Right to Perform. Beneficiary's Expenditures (aA) Trustor agrees that if Trustor fails to perform any act or take any action which Trustor is required to perform or take hereunder or under the Credit Agreement or to pay any money which Trustor is required to pay hereunder or under the Credit Agreement, Beneficiary may, but shall not be obligated to, perform or cause to be performed such act or take such action or pay such money, to the extent and only to the extent permitted under the Credit Agreement. (bB) All costs and expenses incurred by Beneficiary (or any Indemnified Party), including, without limitation, attorneys fees, costs and expenses, all monies paid by (or on behalf of) Beneficiary and the monetary value of all services performed by (or on behalf of Beneficiary) in connection with a Default or Event of Default hereunder or under any other Loan Document, including, without limitation, the (i) the enforcement of any term or provision of this Deed of Trust or any other Loan Document, (ii) the performance by Beneficiary of any obligation of Trustor under this Deed of Trust or any other Loan Document if Beneficiary elects to so perform, in its sole and absolute discretion, and (iii) any action Beneficiary elects to take, in its sole and absolute discretion, to protect its interest in or the value of the Trust Property, shall be a demand obligation owing by Trustor to Beneficiary, as the case may be, and to the extent any payment is made to a third Person, Beneficiary, upon making such payment, shall be subrogated to all of the rights of the Person receiving such payment. All such costs and expenses, monies and the monetary value of such services performed shall (x) bear interest at the Default Rate from the date of such incurrence, payment or performance, as applicable, until paid, and (y) constitute (together with such interest) a portion of the Obligations and shall be secured by this Deed of Trust and all of the other Loan Documents. If Beneficiary shall elect to pay any Imposition or other sums due with reference to the Trust Property, Beneficiary may do so in reliance on any xxxx, statement or assessment procured from the appropriate Governmental Authority or other issuer thereof. Attorneys' fees, costs and expenses as used herein shall include, without limitation, such fees, costs and expenses incurred in litigation or not, whether before or after judgment and and consultants, court costs, expert witness fees, document reproduction expenses, costs of exhibit preparation, courier charges, postage and communication expenses. This provision is separate and several, and shall survive merger into any judgment. Trustor shall and does hereby agree that, if all or a portion of the Obligations has prior to the maturity date fixed in the Credit Agreement, become due or been declared due by reason of an Event of Default the entire amount then due under the terms of this Deed of Trust and the Credit Agreement shall include all attorneys' fees and costs and expenses which are actually incurred as stated above, notwithstanding the provisions of Section 2924c(d) and Section 2924d of the California Civil Code.

Appears in 1 contract

Samples: Deed of Trust (Lakes Entertainment Inc)

Beneficiary's Right to Perform. Beneficiary's Expenditures. (aA) Trustor agrees that if Trustor fails to perform any act or take any action which Trustor is required to perform or take hereunder or under the Credit Agreement or to pay any money which Trustor is required to pay hereunder or under the Credit Agreement, Beneficiary may, but shall not be obligated to, perform or cause to be performed such act or take such action or pay such money, money to the extent and only to the extent permitted under the Credit Agreement. (bB) All costs and expenses incurred by Beneficiary (or any Indemnified Party), including, without limitation, attorneys fees, costs and expenses, all monies paid by (or on behalf of) Beneficiary and the monetary value of all services performed by (or on behalf of Beneficiary) in connection with a Default or Event of Default hereunder or under any other Loan Document, including, without limitation, the (i) the enforcement of any term or provision of this Deed of Trust or any other Loan Document, (ii) the performance by Beneficiary of any obligation of Trustor under this Deed of Trust or any other Loan Document if Beneficiary elects to so perform, in its sole and absolute discretion, and (iii) any action Beneficiary elects to take, in its sole and absolute discretion, to protect its interest in or the value of the Trust Property, shall be a demand obligation owing by Trustor to Beneficiary, as the case may be, and to the extent any payment is made to a third Person, Beneficiary, upon making such payment, shall be subrogated to all of the rights of the Person receiving such payment. All such costs and expenses, monies and the monetary value of such services performed shall (x) bear interest at the Default Rate from the date of such incurrence, payment or performance, as applicable, until paid, and (y) constitute (together with such interest) a portion of the Obligations and shall be secured by this Deed of Trust and all of the other Loan Documents. If Beneficiary shall elect to pay any Imposition or other sums due with reference to the Trust Property, Beneficiary may do so in reliance on any xxxx, statement or assessment procured from the appropriate Governmental Authority or other issuer thereof. Attorneys' fees, costs and expenses as used herein shall include, without limitation, such fees, costs and expenses incurred in litigation or not, whether before or after judgment and and consultants, court costs, expert witness fees, document reproduction expenses, costs of exhibit preparation, courier charges, postage and communication expenses. This provision is separate and several, and shall survive merger into any judgment. Trustor shall and does hereby agree that, if all or a portion of the Obligations has prior to the maturity date fixed in the Credit Agreement, become due or been declared due by reason of an Event of Default the entire amount then due under the terms of this Deed of Trust and the Credit Agreement shall include all attorneys' fees and costs and expenses which are actually incurred as stated above, notwithstanding the provisions of Section 2924c(d) and Section 2924d of the California Civil Code.

Appears in 1 contract

Samples: Deed of Trust (Lakes Entertainment Inc)

Beneficiary's Right to Perform. Beneficiary's Expenditures (a) Trustor agrees that if If Trustor fails to perform any act of the covenants or take any action which Trustor is required to perform or take hereunder or under the Credit Agreement or to pay any money which Trustor is required to pay hereunder or under the Credit Agreement, Beneficiary may, but shall not be obligated to, perform or cause to be performed such act or take such action or pay such money, to the extent and only to the extent permitted under the Credit Agreement. (b) All costs and expenses incurred by Beneficiary (or any Indemnified Party), including, without limitation, attorneys fees, costs and expenses, all monies paid by (or on behalf of) Beneficiary and the monetary value of all services performed by (or on behalf of Beneficiary) in connection with a Default or Event of Default hereunder or under any other Loan Document, including, without limitation, the (i) the enforcement of any term or provision of this Deed of Trust or any other Loan Document, (ii) the performance by Beneficiary of any obligation agreements of Trustor under this Deed of Trust within the time period provided for such performance or any other Loan Document if Beneficiary elects to so perform, in its sole and absolute discretion, and (iii) any action Beneficiary elects to take, in its sole and absolute discretion, to protect its interest in or the value of the Trust Property, shall be a demand obligation owing by Trustor to Beneficiary, as the case may be, and to the extent any payment is made to a third Personcure period provided with respect thereto, Beneficiary, upon making such paymentwithout waiving or releasing Trustor from any obligation or default under this Mortgage, may, at any time (but shall be subrogated to all of under no obligation to) pay or perform the rights of the Person receiving such payment. All such costs and expensessame, monies and the monetary value of such services performed shall (x) bear amount or cost thereof, with interest at the Default Rate Rate, shall immediately be due from Trustor to Beneficiary. To the date extent that any such amounts or costs paid by Beneficiary shall constitute payment of such incurrence(i) Impositions; (ii) premiums on insurance policies covering the Premises; (iii) expenses incurred in upholding or enforcing the lien of this Mortgage, payment including, but not limited to the expenses of any litigation to prosecute or performancedefend the rights and lien created by this Mortgage; (iv) costs of removal of or otherwise related to hazardous materials or asbestos; or (v) any amount, as applicablecosts or charge to which Beneficiary becomes subrogated, until paidupon payment, whether under recognized principles of law or equity, or under express statutory authority; then, and (y) constitute (in each such event, such amounts or costs, together with such interest) a portion of interest thereon at the Obligations Default Rate, shall be added to the Indebtedness and shall be secured by this Deed of Trust Mortgage and all of shall be a lien on the other Loan Documents. If Beneficiary shall elect Mortgaged Property prior to pay any Imposition right, title to, interest in, or other sums due with reference claim upon the Mortgaged Property attaching subsequent to the Trust Property, Beneficiary may do so in reliance on any xxxx, statement or assessment procured from the appropriate Governmental Authority or other issuer thereof. Attorneys' fees, costs and expenses as used herein shall include, without limitation, such fees, costs and expenses incurred in litigation or not, whether before or after judgment and and consultants, court costs, expert witness fees, document reproduction expenses, costs of exhibit preparation, courier charges, postage and communication expenses. This provision is separate and several, and shall survive merger into any judgment. Trustor shall and does hereby agree that, if all or a portion of the Obligations has prior to the maturity date fixed in the Credit Agreement, become due or been declared due by reason of an Event of Default the entire amount then due under the terms lien of this Deed Mortgage. No payment or advance of Trust and the Credit Agreement money by Beneficiary under this Section shall include all attorneys' fees and costs and expenses which are actually incurred as stated abovebe deemed or construed to cure Trustor's default or waive any right or remedy of Beneficiary.

Appears in 1 contract

Samples: Deed of Trust (Osullivan Industries Virginia Inc)

Beneficiary's Right to Perform. Beneficiary's Expenditures. (aA) Trustor agrees that if Trustor fails to perform any act or take any action which Trustor is required to perform or take hereunder or under the Credit Financing Agreement or to pay any money which Trustor is required to pay hereunder or under the Credit Financing Agreement, Beneficiary may, but shall not be obligated to, perform or cause to be performed such act or take such action or pay such money, to the extent and only to the extent permitted under the Credit Financing Agreement. (bB) All costs and expenses incurred by Beneficiary (or any Indemnified Party), including, without limitation, attorneys fees, costs and expenses, all monies paid by (or on behalf of) Beneficiary and the monetary value of all services performed by (or on behalf of Beneficiary) in connection with a Default or Event of Default hereunder or under any other Loan Document, including, without limitation, the (i) the enforcement of any term or provision of this Deed of Trust or any other Loan Document, (ii) the performance by Beneficiary of any obligation of Trustor under this Deed of Trust or any other Loan Document if Beneficiary elects to so perform, in its sole and absolute discretion, and (iii) any action Beneficiary elects to take, in its sole and absolute discretion, to protect its interest in or the value of the Trust Property, shall be a demand obligation owing by Trustor to Beneficiary, as the case may be, and to the extent any payment is made to a third Person, Beneficiary, upon making such payment, shall be subrogated to all of the rights of the Person receiving such payment. All such costs and expenses, monies and the monetary value of such services performed shall (x) bear interest at the Post-Default Rate from the date of such incurrence, payment or performance, as applicable, until paid, and (y) constitute (together with such interest) a portion of the Obligations and shall be secured by this Deed of Trust and all of the other Loan Documents. If Beneficiary shall elect to pay any Imposition or other sums due with reference to the Trust Property, Beneficiary may do so in reliance on any xxxxbill, statement or assessment procured from the appropriate Governmental Governmexxxx Authority or other issuer thereof. Attorneys' fees, costs and expenses as used herein shall include, without limitation, such fees, costs and expenses incurred in litigation or not, whether before or after judgment and and consultants, court costs, expert witness fees, document reproduction expenses, costs of exhibit preparation, courier charges, postage and communication expenses. This provision is separate and several, and shall survive merger into any judgment. Trustor shall and does hereby agree that, if all or a portion of the Obligations has prior to the maturity date fixed in the Credit Financing Agreement, become due or been declared due by reason of an Event of Default the entire amount then due under the terms of this Deed of Trust and the Credit Financing Agreement shall include all attorneys' fees and costs and expenses which are actually incurred as stated above, notwithstanding the provisions of Section 2924c(d) and Section 2924d of the California Civil Code.

Appears in 1 contract

Samples: Deed of Trust (Lakes Entertainment Inc)

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Beneficiary's Right to Perform. Beneficiary's Expenditures. (a) Trustor agrees that if Trustor fails to perform any act or take any action which Trustor is required to perform or take hereunder or under the Credit Agreement or to pay any money which Trustor is required to pay hereunder or under the Credit Agreement, Beneficiary may, but shall not be obligated to, perform or cause to be performed such act or take such action or pay such money, to the extent and only to the extent permitted under the Credit Financinf Agreement. (b) All costs and expenses incurred by Beneficiary (or any Indemnified Party), including, without limitation, attorneys fees, costs and expenses, all monies paid by (or on behalf of) Beneficiary and the monetary value of all services performed by (or on behalf of Beneficiary) in connection with a Default or Event of Default hereunder or under any other Loan Document, including, without limitation, the (i) the enforcement of any term or provision of this Deed of Trust or any other Loan Document, (ii) the performance by Beneficiary of any obligation of Trustor under this Deed of Trust or any other Loan Document if Beneficiary elects to so perform, in its sole and absolute discretion, and (iii) any action Beneficiary elects to take, in its sole and absolute discretion, to protect its interest in or the value of the Trust Property, shall be a demand obligation owing by Trustor to Beneficiary, as the case may be, and to the extent any payment is made to a third Person, Beneficiary, upon making such payment, shall be subrogated to all of the rights of the Person receiving such payment. All such costs and expenses, monies and the monetary value of such services performed shall (x) bear interest at the Default Rate from the date of such incurrence, payment or performance, as applicable, until paid, and (y) constitute (together with such interest) a portion of the Obligations and shall be secured by this Deed of Trust and all of the other Loan Documents. If Beneficiary shall elect to pay any Imposition or other sums due with reference to the Trust Property, Beneficiary may do so in reliance on any xxxx, statement or assessment procured from the appropriate Governmental Authority or other issuer thereof. Attorneys' fees, costs and expenses as used herein shall include, without limitation, such fees, costs and expenses incurred in litigation or not, whether before or after judgment and and consultants, court costs, expert witness fees, document reproduction expenses, costs of exhibit preparation, courier charges, postage and communication expenses. This provision is separate and several, and shall survive merger into any judgment. Trustor shall and does hereby agree that, if all or a portion of the Obligations has prior to the maturity date fixed in the Credit Agreement, become due or been declared due by reason of an Event of Default the entire amount then due under the terms of this Deed of Trust and the Credit Agreement shall include all attorneys' fees and costs and expenses which are actually incurred as stated above, notwithstanding the provisions of Section 2924c(d) and Section 2924d of the California Civil Code.

Appears in 1 contract

Samples: Deed of Trust (Lakes Entertainment Inc)

Beneficiary's Right to Perform. Beneficiary's Expenditures (a) If Trustor agrees that if Trustor fails shall fail to observe, comply with, or perform any act of the terms, covenants and conditions herein with respect to the procuring and delivery of insurance, the payment of Impositions or take Liens, the keeping of the Trust Property in repair, the furnishing of financial and operating statements, the removal and/or disposal of Hazardous Substances, or any action which Trustor is required to perform other term, covenant or take hereunder condition herein or under in the Credit Agreement Note or to pay any money which Trustor is required to pay hereunder or under the Credit AgreementOther Loan Document contained, Beneficiary maymay itself observe, but comply with or perform the same, may make such advances to observe, comply with and perform the same as Beneficiary shall not be obligated todeem appropriate, perform and may enter the Trust Property for the purpose of observing, complying with and performing any such term, covenant or cause condition. Beneficiary may expend such sums, including reasonable attorneys' fees (prior to be performed such act or take such action or pay such moneytrial, at trial and on appeal), to sustain the extent and only to the extent permitted under the Credit Agreement. (b) All costs and expenses incurred by Beneficiary (or any Indemnified Party), including, without limitation, attorneys fees, costs and expenses, all monies paid by (or on behalf of) Beneficiary and the monetary value of all services performed by (or on behalf of Beneficiary) in connection with a Default or Event of Default hereunder or under any other Loan Document, including, without limitation, the (i) the enforcement of any term or provision lien of this Deed of Trust or any other Loan Documentits priority, (ii) or to protect or enforce its rights hereunder, or to obtain the performance by Beneficiary right to enforce its rights and remedies hereunder, including the payment of any obligation of Trustor under this Deed of Trust or any Liens, claims and encumbrances, other Loan Document if Beneficiary elects to so perform, than Permitted Encumbrances which are not in its sole and absolute discretion, and (iii) any action Beneficiary elects to take, in its sole and absolute discretion, to protect its interest in or the value of the Trust Property, shall be a demand obligation owing by Trustor to Beneficiarydefault, as the case it may bedeem desirable. Trustor agrees to repay all sums so advanced or expended upon demand, and to the extent any payment is made to a third Person, Beneficiary, upon making such payment, shall be subrogated to all of the rights of the Person receiving such payment. All such costs and expenses, monies and the monetary value of such services performed shall (x) bear with interest thereon at the Default Rate from the date of such incurrence, payment advancement or performance, as applicable, until paidexpenditure, and (y) constitute (together all sums so advanced or expended, with such interest) a portion of the Obligations and , shall be secured by this Deed of Trust and all of the other Loan Documentshereby, but no such advance or expenditure shall be deemed to relieve Trustor from any default hereunder. If Beneficiary shall elect not be bound to pay inquire into the validity of any Imposition or other sums due Lien which Trustor fails to pay as and when required hereby and which Trustor has not given notice to Beneficiary of its intention to contest in accordance with reference to the Trust Property, Beneficiary may do so in reliance on any xxxx, statement or assessment procured from the appropriate Governmental Authority or other issuer thereof. Attorneys' fees, costs and expenses as used herein shall include, without limitation, such fees, costs and expenses incurred in litigation or not, whether before or after judgment and and consultants, court costs, expert witness fees, document reproduction expenses, costs of exhibit preparation, courier charges, postage and communication expenses. This provision is separate and several, and shall survive merger into any judgment. Trustor shall and does hereby agree that, if all or a portion of the Obligations has prior to the maturity date fixed in the Credit Agreement, become due or been declared due by reason of an Event of Default the entire amount then due under the terms of this Deed of Trust and the Credit Agreement shall include all attorneys' fees and costs and expenses which are actually incurred as stated abovehereof.

Appears in 1 contract

Samples: Combination Deed of Trust, Assignment of Rents, Security Agreement and Fixture Financing Statement (Asset Investors Corp)

Beneficiary's Right to Perform. Beneficiary's Expenditures. (aA) Trustor agrees that if Trustor fails to perform any act or take any action which Trustor is required to perform or take hereunder or under the Credit Financing Agreement or to pay any money which Trustor is required to pay hereunder or under the Credit Financing Agreement, Beneficiary may, but shall not be obligated to, perform or cause to be performed such act or take such action or pay such money, to the extent and only to the extent permitted under the Credit Financinf Agreement. (bB) All costs and expenses incurred by Beneficiary (or any Indemnified Party), including, without limitation, attorneys fees, costs and expenses, all monies paid by (or on behalf of) Beneficiary and the monetary value of all services performed by (or on behalf of Beneficiary) in connection with a Default or Event of Default hereunder or under any other Loan Document, including, without limitation, the (i) the enforcement of any term or provision of this Deed of Trust or any other Loan Document, (ii) the performance by Beneficiary of any obligation of Trustor under this Deed of Trust or any other Loan Document if Beneficiary elects to so perform, in its sole and absolute discretion, and (iii) any action Beneficiary elects to take, in its sole and absolute discretion, to protect its interest in or the value of the Trust Property, shall be a demand obligation owing by Trustor to Beneficiary, as the case may be, and to the extent any payment is made to a third Person, Beneficiary, upon making such payment, shall be subrogated surrogated to all of the rights of the Person receiving such payment. All such costs and expenses, monies and the monetary value of such services performed shall (x) bear interest at the Post-Default Rate from the date of such incurrence, payment or performance, as applicable, until paid, and (y) constitute (together with such interest) a portion of the Obligations and shall be secured by this Deed of Trust and all of the other Loan Documents. If Beneficiary shall elect to pay any Imposition or other sums due with reference to the Trust Property, Beneficiary may do so in reliance on any xxxxbill, statement or assessment procured from the appropriate Governmental Governmenxxx Authority or other issuer thereof. Attorneys' fees, costs and expenses as used herein shall include, without limitation, such fees, costs and expenses incurred in litigation or not, whether before or after judgment and and consultants, court costs, expert witness fees, document reproduction expenses, costs of exhibit preparation, courier charges, postage and communication expenses. This provision is separate and several, and shall survive merger into any judgment. Trustor shall and does hereby agree that, if all or a portion of the Obligations has prior to the maturity date fixed in the Credit Financing Agreement, become due or been declared due by reason of an Event of Default the entire amount then due under the terms of this Deed of Trust and the Credit Financing Agreement shall include all attorneys' fees and costs and expenses which are actually incurred as stated above, notwithstanding the provisions of Section 2924c(d) and Section 2924d of the California Civil Code.

Appears in 1 contract

Samples: Deed of Trust (Lakes Entertainment Inc)

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