Common use of BURDALE'S RIGHT TO CURE Clause in Contracts

BURDALE'S RIGHT TO CURE. Burdale may, at its option: (a) after giving five days notice to the Company, cure any default by any Facility Company under any agreement with an account debtor in respect of a Receivable (other than bona fide disputes in the ordinary course of the relevant Facility Company's business where no Event of Default has occurred and is continuing) or under any other agreement with a third party as may be required by Burdale in good faith to facilitate the collection of the Receivables or to enable Burdale to have access to any assets subject to a Security Interest under the Security Documents; (b) after giving five days notice to the Company, pay or make a bond in respect of or appeal any judgment entered into against any Facility Company which, upon execution, attachment or the exercise of any similar remedy in respect of such judgment, would result in a Security Interest being imposed on the assets of any Obligor or would impair Burdale's ability to obtain possession of, realise or collect any assets subject to a Security Interest under the Security Documents; (c) discharge taxes, Security Interests or other encumbrances at any time levied on or existing with respect to any assets of any Obligor; and (d) pay any amount, incur any expense or perform any act including without limitation the payment to any creditors in respect of plant and/or machinery, which, in Burdale's judgment, is necessary or appropriate to reserve, protect, insure or maintain the assets subject to a Security Interest under the Security Documents and the rights of Burdale with respect to them. Any monies so expended or costs so incurred by Burdale shall be repayable by the relevant Obligor on demand. Burdale will be under no obligation to effect any such cure or payment or incur any such cost and will not, by doing so, be deemed to have assumed any obligation or liability of the Facility Company. Any payment made or other action taken by Burdale under this Clause will be without prejudice to any right it may have to assert an Event of Default under this Agreement and to proceed accordingly.

BURDALE'S RIGHT TO CURE. Burdale may, at its option: (a) after giving five days notice to the Company, cure any default by any Facility Company under any agreement with an account debtor in respect of a Receivable (other than bona fide disputes in the ordinary course of the relevant Facility Company's ’s business where no Event of Default has occurred and is continuing) or under any other agreement with a third party as may be required by Burdale in good faith to facilitate the collection of the Receivables or to enable Burdale to have access to any assets subject to a Security Interest under the Security Documents; (b) after giving five days notice to the Company, pay or make a bond in respect of or appeal any judgment entered into against any Facility Company which, upon execution, attachment or the exercise of any similar remedy in respect of such judgment, would result in a Security Interest being imposed on the assets of any Obligor or would impair Burdale's ’s ability to obtain possession of, realise or collect any assets subject to a Security Interest under the Security Documents; (c) discharge taxes, Security Interests or other encumbrances at any time levied on or existing with respect to any assets of any Obligor; and (d) pay any amount, incur any expense or perform any act including without limitation the payment to any creditors in respect of plant and/or machinery, which, in Burdale's ’s judgment, is necessary or appropriate to reserve, protect, insure or maintain the assets subject to a Security Interest under the Security Documents and the rights of Burdale with respect to them. Any monies so expended or costs so incurred by Burdale shall be repayable by the relevant Obligor on demand. Burdale will be under no obligation to effect any such cure or payment or incur any such cost and will not, by doing so, be deemed to have assumed any obligation or liability of the Facility Company. Any payment made or other action taken by Burdale under this Clause will be without prejudice to any right it may have to assert an Event of Default under this Agreement and to proceed accordingly.

BURDALE'S RIGHT TO CURE. Burdale may, at its option: (a) after giving five days notice to the Company, cure any default by any Facility the Company under any agreement with an account debtor Account Debtor in respect of a Receivable (other than bona fide disputes in the ordinary course of the relevant Facility Company's ’s business where no Event of Default has occurred and is continuing) or under any other agreement with a third party as may be required by Burdale in good faith to facilitate the collection of the Receivables or to enable Burdale to have access to any assets subject to a Security Interest under of the Security DocumentsCollateral or any Equipment; (b) after giving five days notice to the Company, pay or make a bond in respect of or appeal any judgment entered into against any Facility the Company which, upon execution, attachment or the exercise of any similar remedy in respect of such judgment, would result in a Security Interest an Encumbrance being imposed on the assets of any Obligor Collateral or would impair Burdale's ’s ability to obtain possession of, realise or collect any assets subject to a Security Interest under of the Security DocumentsCollateral; (c) discharge taxes, Security Interests Encumbrances or other encumbrances at any time levied on or existing with respect to any assets of any Obligorthe Collateral; and (d) pay any amount, incur any expense or perform any act including without limitation the payment to any creditors in respect of plant and/or machinery, which, in Burdale's ’s judgment, is necessary or appropriate to reserve, protect, insure or maintain the assets subject to a Security Interest under the Security Documents Collateral and the rights of Burdale with respect to themit. Any Burdale may charge any monies so expended or costs so incurred by Burdale shall it to the Company’s account, such amounts to be repayable by the relevant Obligor Company on demand. Burdale will be under no obligation to effect any such cure or payment or incur any such cost and will not, by doing so, be deemed to have assumed any obligation or liability of the Facility Company. Any payment made or other action taken by Burdale under this Clause will be without prejudice to any right it may have to assert an Event of Default under this Agreement and to proceed accordingly.

BURDALE'S RIGHT TO CURE. Burdale may, at its option: (a) after giving five days notice to the Company, cure any default by any Facility the Company under any agreement with an account debtor Account Debtor in respect of a Receivable (other than bona fide disputes in the ordinary course of the relevant Facility Company's business where no Event of Default has occurred and is continuing) or under any other agreement with a third party as may be required by Burdale in good faith to facilitate the collection of the Receivables or to enable Burdale to have access to any assets subject to a Security Interest under of the Security DocumentsCollateral or any Equipment; (b) after giving five days notice to the Company, pay or make a bond in respect of or appeal any judgment entered into against any Facility the Company which, upon execution, attachment or the exercise of any similar remedy in respect of such judgment, would result in a Security Interest an Encumbrance being imposed on the assets of any Obligor Collateral or would impair Burdale's ability to obtain possession of, realise or collect any assets subject to a Security Interest under of the Security DocumentsCollateral; (c) discharge taxes, Security Interests Encumbrances or other encumbrances at any time levied on or existing with respect to any assets of any Obligorthe Collateral; and (d) pay any amount, incur any expense or perform any act including without limitation the payment to any creditors in respect of plant and/or machinery, which, in Burdale's judgment, is necessary or appropriate to reserve, protect, insure or maintain the assets subject to a Security Interest under the Security Documents Collateral and the rights of Burdale with respect to themit. Any Burdale may charge any monies so expended or costs so incurred by Burdale shall it to the Company's account, such amounts to be repayable by the relevant Obligor Company on demand. Burdale will be under no obligation to effect any such cure or payment or incur any such cost and will not, by doing so, be deemed to have assumed any obligation or liability of the Facility Company. Any payment made or other action taken by Burdale under this Clause will be without prejudice to any right it may have to assert an Event of Default under this Agreement and to proceed accordingly.