Collateral Protection Expenses Preservation of Collateral. (a) If an Event of Default shall have occurred and be continuing, the Agent may discharge taxes and other encumbrances at any time levied or placed on any of the Collateral, make repairs thereto and pay any necessary filing fees. Each Grantor agrees to reimburse the Agent on demand for any and all expenditures so made. The Agent shall have no obligation to any Grantor to make any such expenditures, nor shall the making thereof relieve any Grantor of any default.
Collateral Protection Expenses Preservation of Collateral. The following provisions regarding the Collateral are made part of this Agreement.
Collateral Protection Expenses Preservation of Collateral. (a) In its discretion, the Lender may discharge taxes and other encumbrances at any time levied or placed on any of the Collateral, make repairs thereto and pay any necessary filing fees. The Borrower agrees to reimburse the Lender on demand for any and all expenditures so made. The Lender shall have no obligation to the Borrower to make any such expenditures, nor shall the making thereof relieve the Borrower of any default.
Collateral Protection Expenses Preservation of Collateral. In the event any Borrower shall fail to pay taxes, insurance, assessments, costs or expenses which such Borrower is, under any of the terms hereof, required to pay, or fails to keep the Collateral free from Liens, except Permitted Liens, Bank may, in its sole discretion, make expenditures for any or all of such purposes, and the amount so expended, together with interest thereon at the rate applicable to Base Rate Advances under the Revolving Loan prescribed in Section 2.6(a) hereof, shall be part of the Liabilities, payable by Borrowers jointly and severally and on demand, and secured by the Collateral. Each Obligor agrees to reimburse Bank on demand for all expenditures so made. No Obligor shall have any obligation to Bank to make any such expenditures, nor shall the making thereof be construed as the waiver or cure of any Event of Default. Anything herein to the contrary notwithstanding, each Obligor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by such Obligor thereunder. Bank shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by Bank of any payment relating to any of the Collateral, nor shall Bank be obligated in any manner to perform any of the obligations of any Obligor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by Bank in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to Bank or to which Bank may be entitled at any time or times. Bank’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the UCC or otherwise, shall be to deal with such Collateral in the same manner as Bank deals with similar Property for its own account.
Collateral Protection Expenses Preservation of Collateral. (a) Expenses Incurred by the Secured Party. In the Secured Party's reasonable discretion, if any CITEL Party fails to do so in accordance with the terms of Sections 8 and 9 hereof, the Secured Party may discharge taxes and other encumbrances at any time levied or placed on any of the Collateral (other than Permitted Liens), maintain any of the Collateral, make repairs thereto and pay any necessary filing fees or insurance premiums. The CITEL Parties agree to reimburse the Secured Party on demand for all expenditures so made. The Secured Party shall have no obligation to any CITEL Party or any other person to make any such expenditures, nor shall the making thereof be construed as a waiver or cure of any Default or Event of Default.
Collateral Protection Expenses Preservation of Collateral. (a) In its discretion, the Secured Party may discharge taxes and other encumbrances at any time levied or placed on any of the Collateral, make repairs thereto and pay any necessary filing fees. The Company agrees to reimburse the Secured Party on demand for any and all expenditures so made. The Secured Party shall have no obligation to the Company to make any such expenditures, nor shall the making thereof relieve the Company of any default.
Collateral Protection Expenses Preservation of Collateral. (a) In its discretion, Secured Party may discharge taxes and other encumbrances at any time levied or placed on any of the Collateral (to the extent the validity or the amount thereof is not being contested in good faith by appropriate proceedings which stay the issuance of any attachment or levy with respect to the Collateral, provided that Debtor has made adequate reserves therefor), and pay any necessary filing fees. Debtor agrees to reimburse Secured Party on demand for any and all expenditures so made. Secured Party shall have no obligation to Debtor to make any such expenditures, nor shall the making thereof relieve Debtor of any Event of Default.
Collateral Protection Expenses Preservation of Collateral. (a) In its discretion, the Agent may, upon ten (10) days' prior written notice to the Company so long as no Event of Default has occurred and is continuing (and otherwise without prior notice), discharge taxes and other encumbrances at any time levied or placed on any of the Collateral, make repairs thereto and pay any necessary filing fees. The Company agrees to reimburse the Agent on demand for any and all expenditures so made. The Agent shall have no obligation to the Company to make any such expenditures, nor shall the making thereof relieve the Company of any default.
Collateral Protection Expenses Preservation of Collateral. (a) In its discretion, the Agent may, upon ten (10) days' prior written notice to the Grantor so long as no Event of Default has occurred and is continuing (and otherwise without prior notice), discharge taxes and other encumbrances at any time levied or placed on any of the Collateral (except for taxes and encumbrances being contested by the Grantor in accordance with Section 6.04 of the Credit Agreement), make repairs thereto and pay any necessary filing fees. The Grantor agrees to reimburse the Agent on demand for any and all expenditures so made. The Agent shall have no obligation to the Grantor to make any such expenditures, nor shall the making thereof relieve the Grantor of any default.
Collateral Protection Expenses Preservation of Collateral. (a)In Secured Parties’ discretion, if Debtor fails to do so, Secured Parties may discharge taxes and other Encumbrances at any time levied or placed on any of the Collateral, maintain any of the Collateral and make repairs thereto, and pay any necessary filing fees or insurance premiums. Xxxxxx agrees to reimburse Secured Parties on demand for all expenditures so made. Secured Parties will have no obligation to Debtor to make any such expenditures, nor will the making thereof be construed as the waiver or cure of any Default or Event of Default.
