Common use of DEMAND BY SECURED PARTY Clause in Contracts

DEMAND BY SECURED PARTY. Upon failure by the Company punctually to pay or perform any Guaranteed Obligation when due, after the expiration of any applicable grace period, the Secured Period may make demand upon the Guarantor for the payment or performance of such Guaranteed Obligation and the Guarantor binds and obliges itself to make such payment or performance forthwith upon such demand.

DEMAND BY SECURED PARTY. Upon failure by the Company punctually to pay or perform any Guaranteed Obligation when due, after the expiration of any applicable grace period, the Secured Period Party may make demand upon the Guarantor for the payment or performance of such Guaranteed Obligation and the Guarantor binds and obliges itself to make such payment or performance forthwith upon such demand.