Common use of Cure of Defaults by Lender Clause in Contracts

Cure of Defaults by Lender. If, hereafter, Borrower defaults in the performance of any duty or obligation to Lender hereunder, Lender may, at its option, but without obligation, cure such default and any cost, fees and expenses incurred by Lender in connection therewith including, without limitation, for the purchase of insurance, the payment of taxes and the removal or settlement of liens and claims, shall be added to the indebtedness evidenced by the Note and shall bear interest at the Default Rate.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Oragenics Inc), Revolving Credit Agreement (Oragenics Inc)

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Cure of Defaults by Lender. If, hereafter, If Borrower defaults in the -------------------------- performance of any duty or obligation to Lender hereunderhereunder or under any Loan Document, Lender may, at its option, but without obligation, cure such default and any costcosts, fees and expenses incurred by Lender in connection therewith including, without limitation, for the purchase of insurance, the payment of taxes and the removal or settlement of liens and claims, shall be added reimbursed pursuant to the indebtedness evidenced by the Note and shall bear interest at the Default RateSection 9.6.

Appears in 2 contracts

Samples: Loan Agreement (Hooker Funiture Corp Employee Stock Ownership Plan Trust), Negative Pledge and Agreement (Hooker Furniture Corp)

Cure of Defaults by Lender. If, hereafter, Borrower or any Guarantors defaults in the performance of any duty or obligation to Lender hereunder, Lender may, at its option, but without obligation, cure such default and any costcosts, fees and expenses incurred by Lender in connection therewith including, without limitation, for the purchase of insurance, the payment of taxes and the removal or settlement of liens and claims, shall be added deemed to be advances against the indebtedness evidenced by the Note Term Note, whether or not this creates an over-advance thereunder, and shall bear interest at the Default Ratebe payable in accordance with its terms.

Appears in 1 contract

Samples: Term Loan Agreement (Adcare Health Systems Inc)

Cure of Defaults by Lender. If, hereafter, Borrower defaults in the performance of any duty or obligation to Lender hereunderhereunder or under any Loan Document, Lender may, at its option, but without obligation, cure such default and any costcosts, fees and expenses incurred by Lender in connection therewith including, without limitation, for the purchase of insurance, the payment of taxes and the removal or settlement of liens and claims, shall be added deemed to the indebtedness evidenced by the Note be Advances under Line of Credit A, whether or not this creates an overadvance thereunder, and shall bear interest at the Default Ratebe payable in accordance with its terms.

Appears in 1 contract

Samples: Credit Agreement (Theragenics Corp)

Cure of Defaults by Lender. If, hereafter, Borrower or any Guarantor defaults in the performance of any duty or obligation to Lender hereunder, Lender may, at its option, but without obligation, cure such default and any costcosts, fees and expenses incurred by Lender in connection therewith including, without limitation, for the purchase of insurance, the payment of taxes and the removal or settlement of liens and claims, shall be added deemed to be advances against the indebtedness evidenced by the Note Term Note, whether or not this creates an over-advance thereunder, and shall bear interest at the Default Ratebe payable in accordance with its terms.

Appears in 1 contract

Samples: Term Loan Agreement (Adcare Health Systems Inc)

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Cure of Defaults by Lender. If, hereafter, Borrower defaults in the performance of any duty or obligation to Lender hereunderhereunder or under any Loan Document, Lender may, at its option, but without obligation, cure such default and any costdefault. Any costs, fees and expenses incurred by Lender in connection therewith including, without limitation, for the purchase of insurance, the payment of taxes and the removal or settlement of liens and claims, shall be added to the indebtedness evidenced by the Note become Obligations and shall bear interest at be due and payable within ten Business Days of the Default Rategiving of notice of such to Borrower by Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Magellan Health Services Inc)

Cure of Defaults by Lender. If, hereafter, Borrower defaults in the performance of any duty or obligation to Lender hereunder, Lender may, at its option, but without obligation, cure such default and any costcosts, fees and expenses incurred by Lender in connection therewith including, without limitation, for the purchase of insurance, the payment of taxes and the removal or settlement of liens and claims, shall constitute Obligations, be added to the indebtedness evidenced by the Note payable on demand and shall bear interest until paid at the Default RateRate applicable to the Term Note.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Triumph Fuels Corp)

Cure of Defaults by Lender. If, hereafter, Borrower defaults in the ---------------------------- performance of any duty or obligation to Lender hereunder, Lender may, at its option, but without obligation, cure such default and any costcosts, fees and expenses incurred by Lender in connection therewith including, without limitation, for the purchase of insurance, the payment of taxes and the removal or settlement of liens and claims, shall be added deemed to the indebtedness evidenced by the Note be payable upon demand and shall bear accrue interest at the Default RateRate overadvance under the Master Note, and shall be payable in accordance with its terms.

Appears in 1 contract

Samples: Loan and Security Agreement (Us Xpress Enterprises Inc)

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