Cure Rights. Such Borrower expressly authorizes the ----------- Collateral Agent, and the Collateral Agent may, but shall not be required to, at any time and from time to time, to take any and all action that it reasonably determines to be necessary or desirable to cure any default or violation (including a payment default) of such Borrower in connection with any real estate lease, license agreement, Governmental Approval or any other material lease, agreement or contract entered into with respect to the Systems. Any and all amounts expended by the Collateral Agent in connection with such actions shall constitute Obligations secured by the Collateral.
Appears in 2 contracts
Samples: Loan and Security Agreement (Paetec Corp), Loan and Security Agreement (Paetec Corp)
Cure Rights. Such Borrower expressly authorizes the ----------- Collateral Agent, and the Collateral Agent may, but shall not be required to, at any time and from time to time, to take any and all action that it reasonably determines to be necessary or desirable to cure any default or violation (including a payment default) of such Borrower in connection with any real estate lease, license agreement, Governmental Approval or any other material lease, agreement or contract entered into with respect to the Systems. Any and all amounts expended by the Collateral Agent in connection with such actions shall constitute Obligations secured by the Collateral.
Appears in 2 contracts
Samples: Loan and Security Agreement (KMC Telecom Holdings Inc), Loan and Security Agreement (KMC Telecom Holdings Inc)
Cure Rights. Such Borrower expressly authorizes the ----------- Collateral Agent, and the Collateral Agent may, but shall not be required to, at any time and from time to time, to take any and all action that it reasonably determines to be necessary or desirable to cure any default or violation (including a payment default) of such Borrower in connection with any real estate lease, license agreement, Governmental Approval or any other material lease, agreement or contract entered into with respect to the Systems. Any and all amounts expended by the Collateral Agent in connection with such actions shall constitute Obligations secured by the Collateral.
Appears in 1 contract
Cure Rights. Such Borrower expressly authorizes the ----------- Collateral Agent and the Agent, and the Collateral Agent (as directed by the Requisite Lenders) and the Agent may, but shall not be required to, at any time and from time to time, to take any and all action that it reasonably determines to be necessary or desirable to cure any default or violation (including a payment default) of such Borrower in connection with any real estate lease, license agreement, Governmental Approval or any other material lease, agreement or contract entered into with respect to the Systems. Any and all amounts expended by the Collateral Agent in connection with such actions shall constitute Obligations secured by the Collateral.
Appears in 1 contract
Samples: Loan and Security Agreement (KMC Telecom Holdings Inc)