Common use of Costs of Defending and Upholding the Lien Clause in Contracts

Costs of Defending and Upholding the Lien. The Agent may, upon at least five days' prior notice to Borrower, (i) appear in and defend any action or proceeding, in the name and on behalf of the Agent, the Lenders or any Loan Party in which the Agent or any Lender is named or which the Agent in its sole discretion determines is reasonably likely to materially adversely affect any Mortgaged Property, any other material Collateral, any Mortgage, the Lien thereof or any other Loan Document and (ii) institute any action or proceeding which the Agent reasonably determines should be instituted to protect the interest or rights of the Agent in any Mortgaged Property or other Collateral or under this Agreement or any other Loan Document. Borrower agrees that all reasonable costs and expenses expended or otherwise incurred pursuant to this Section (including reasonable attorneys' fees and disbursements) by the Agent shall be paid by Borrower or reimbursed to the Agent, as the case may be, promptly after demand.

Appears in 3 contracts

Samples: Senior Secured Revolving Credit Agreement (Corporate Office Properties Trust), Credit Agreement (Corporate Office Properties Trust), Assignment Agreement (Corporate Office Properties Trust)

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Costs of Defending and Upholding the Lien. The Agent may, upon at least five daysBusiness Days' prior notice to the Borrower, (i) appear in and defend any action or proceeding, in the name and on behalf of the Agent, Agent or the Lenders or any Loan Party in which the Agent or any Lender is named or which the Agent in its sole reasonable discretion determines is reasonably likely to materially adversely affect any the Mortgaged Property, any other material Collateral, any MortgageSecurity Document, the Lien Liens thereof or any other Loan Document and (ii) during an Event of Default, institute any action or proceeding which the Agent reasonably determines should be instituted to protect the interest or rights of the Agent and the Lenders in any the Mortgaged Property or other Collateral or under this Agreement or any other Loan Document. The Borrower agrees that all reasonable costs and expenses expended or otherwise incurred pursuant to this Section subsection (including reasonable attorneys' fees and disbursements) by the Agent shall be paid by the Borrower or reimbursed to the Agent, as the case may be, promptly after demandprovided in Section 11.10.

Appears in 2 contracts

Samples: Loan and Facilities Agreement (Bh Re LLC), Loan and Facilities Agreement (Bh Re LLC)

Costs of Defending and Upholding the Lien. The Agent may, upon at least five days' prior notice to Borrowerthe Borrowers, (i) appear in and defend any action or proceeding, in the name and on behalf of the Agent, the Lenders or any Loan Party Borrower, in which the Agent or any Lender is named or which the Agent in its sole discretion determines is reasonably likely to materially adversely affect any Mortgaged PropertyProperty subject to a Mortgage, any other material Collateral, any Mortgage, the Lien thereof or any other Loan Document and (ii) institute any action or proceeding which the Agent reasonably determines should be instituted to protect the interest or rights of the Agent and Lenders in any Mortgaged such Property or other Collateral or under this Agreement or any other Loan Document. Borrower agrees The Borrowers, jointly and severally, agree that all reasonable costs and expenses expended or otherwise incurred pursuant to this Section (including reasonable attorneys' fees and disbursements) by the Agent shall be paid by Borrower or reimbursed pursuant to the Agent, as the case may be, promptly after demandSECTION 10.7 hereof.

Appears in 2 contracts

Samples: Security Agreement (Loewen Group Inc), Loewen Group Inc

Costs of Defending and Upholding the Lien. The Agent may, upon at least five days' prior notice to the Borrower, (i) appear in and defend any action or proceeding, in the name and on behalf of the Agent, the Lenders or Lenders, any Loan Party or any of its Subsidiaries, in which the Agent or any Lender is named or which the Agent in its sole discretion determines is reasonably likely to materially adversely affect any Mortgaged Pool A Property, any Management Agreement or other material Collateral, any Mortgage, the Lien thereof or any other Loan Document and (ii) institute any action or proceeding which the Agent reasonably determines should be instituted to protect the interest or rights of the Agent and the Lenders in any Mortgaged Property or other Collateral or under this Agreement or any other Loan Document. The Borrower agrees that all reasonable costs and expenses expended or otherwise incurred pursuant to this Section subsection (including reasonable attorneys' fees and disbursements) by the Agent shall be paid by the Borrower or reimbursed to the Agent, as the case may be, promptly after demand.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Capstar Hotel Co)

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Costs of Defending and Upholding the Lien. The Agent may, upon at least five days' prior notice to Borrowerthe Company, (i) appear in and defend any action or proceeding, in the name and on behalf of the Agent, the Lenders or Lenders, any Loan Party or any of its Subsidiaries, in which the Agent or any Lender is named or which the Agent in its sole discretion determines is reasonably likely to materially adversely affect any Mortgaged Property, any or other material Collateral, any Mortgage, the Lien thereof or any other Loan Document and (ii) institute any action or proceeding which the Agent reasonably determines should be instituted to protect the interest or rights of the Agent and the Lenders in any Mortgaged Property or other Collateral or under this Agreement or any other Loan Document. Borrower The Company agrees that all reasonable costs and expenses expended or otherwise incurred pursuant to this Section subsection (including reasonable attorneys' fees and disbursements) by the Agent shall be paid by Borrower the Company or reimbursed to the Agent, as the case may be, promptly after immediately upon demand.

Appears in 1 contract

Samples: Credit Agreement (Prime Hospitality Corp)

Costs of Defending and Upholding the Lien. The Agent may, upon at least five days' prior notice to Borrower, (i) appear in and defend any action or proceeding, in the name and on behalf of the Agent, the Lenders or any Loan Party in which the Agent or any Lender is named or which the Agent in its sole discretion determines is reasonably likely to materially adversely affect any Mortgaged Property, any other material Collateral, any Mortgage, the Lien thereof or any other Loan Document and (ii) institute any action or proceeding which the Agent reasonably determines should be instituted to protect the interest or rights of the Agent in any Mortgaged Property or other Collateral or under this Agreement or any other Loan Document. Borrower agrees that all reasonable costs and expenses expended or otherwise incurred pursuant to this Section (including reasonable attorneys' fees and disbursements) by the Agent shall be paid by Borrower or reimbursed to the Agent, as the case may be, promptly after demand.

Appears in 1 contract

Samples: Assignment Agreement (Corporate Office Properties Trust)

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