Common use of Costs Reimbursed Clause in Contracts

Costs Reimbursed. If the Bank pays any amounts in connection with (a) any license, fee or similar charges, or penalties or interest thereon, (b) obtaining any insurance or paying the premium or premiums therefor, (c) performing or causing to be performed any repair, replacement, rebuilding or other work or (d) taxes or municipal or governmental assessments, rates, charges, impositions or liens with respect to the Collateral, then the Grantor shall, on the demand of the Bank, repay or cause to be repaid such amount to the Bank, and such amounts so required to be repaid shall be Obligations.