Common use of Discharge Encumbrances Clause in Contracts

Discharge Encumbrances. If not timely discharged by Pledgor or Alliance, Secured Party, at its option, after any Event of Default, but without any obligation whatsoever to do so, and with not less than ten (10) Business Days’ notice to Pledgor to the extent practical under the circumstances, may (a) discharge taxes, claims, charges, Liens, security interests, assessments or other encumbrances of any and every nature whatsoever at any time levied, placed upon or asserted against the Collateral, (b) place and pay for insurance on the Collateral, including insurance that only protects Secured Party’s interest, (c) pay any filing, recording, registration, licensing or certification fees or other fees and charges related to the Collateral, or (d) take any other action to preserve and protect the Collateral and Secured Party’s rights and remedies under this Agreement as Secured Party may deem reasonably necessary or appropriate. Pledgor and Alliance agree that Secured Party shall have no duty or obligation whatsoever to take any of the foregoing action. Pxxxxxx agrees to promptly reimburse Secured Party upon written demand for any payment made or any expense incurred by Secured Party pursuant to this authorization. These payments and expenditures, together with interest thereon from date such written demand is received by Pledgor until paid by Borrower or Pledgor at the Default Rate, which Pxxxxxx agrees to pay promptly (but not later than ten (10) Business Days) upon receipt of such written demand, shall constitute additional Obligations and shall be secured by and entitled to the benefits of this Agreement.

Discharge Encumbrances. If not timely discharged by Pledgor or AllianceThird Ave, Secured Party, at its option, after any Event of Default, but without any obligation whatsoever to do so, and with not less than ten (10) Business Days’ notice to Pledgor to the extent practical under the circumstances, may (a) discharge taxes, claims, charges, Liens, security interests, assessments or other encumbrances of any and every nature whatsoever at any time levied, placed upon or asserted against the Collateral, (b) place and pay for insurance on the Collateral, including insurance that only protects Secured Party’s interest, (c) pay any filing, recording, registration, licensing or certification fees or other fees and charges related to the Collateral, or (d) take any other action to preserve and protect the Collateral and Secured Party’s rights and remedies under this Agreement as Secured Party may deem reasonably necessary or appropriate. Pledgor and Alliance Third Ave agree that Secured Party shall have no duty or obligation whatsoever to take any of the foregoing action. Pxxxxxx agrees to promptly reimburse Secured Party upon written demand for any payment made or any expense incurred by Secured Party pursuant to this authorization. These payments and expenditures, together with interest thereon from date such written demand is received by Pledgor until paid by Borrower or Pledgor at the Default Rate, which Pxxxxxx agrees to pay promptly (but not later than ten (10) Business Days) upon receipt of such written demand, shall constitute additional Obligations and shall be secured by and entitled to the benefits of this Agreement.

Discharge Encumbrances. If not timely discharged by Pledgor or AllianceAviation, Secured Party, at its option, after any Event of Default, but without any obligation whatsoever to do so, and with not less than ten (10) Business Days’ notice to Pledgor to the extent practical under the circumstances, may (a) discharge taxes, claims, charges, Liens, security interests, assessments or other encumbrances of any and every nature whatsoever at any time levied, placed upon or asserted against the Collateral, (b) place and pay for insurance on the Collateral, including insurance that only protects Secured Party’s interest, (c) pay any filing, recording, registration, licensing or certification fees or other fees and charges related to the Collateral, or (d) take any other action to preserve and protect the Collateral and Secured Party’s rights and remedies under this Agreement as Secured Party may deem reasonably necessary or appropriate. Pledgor and Alliance Aviation agree that Secured Party shall have no duty or obligation whatsoever to take any of the foregoing action. Pxxxxxx agrees to promptly reimburse Secured Party upon written demand for any payment made or any expense incurred by Secured Party pursuant to this authorization. These payments and expenditures, together with interest thereon from date such written demand is received by Pledgor until paid by Borrower or Pledgor at the Default Rate, which Pxxxxxx agrees to pay promptly (but not later than ten (10) Business Days) upon receipt of such written demand, shall constitute additional Obligations and shall be secured by and entitled to the benefits of this Agreement.

Discharge Encumbrances. If not timely discharged by Pledgor or AllianceDebtor, Secured Party, at its option, whether before or after any an Event of Default, but without any obligation whatsoever to do so, and with not less than ten (10) Business Days’ notice to Pledgor to the extent practical under the circumstances, may (a) discharge taxes, claims, charges, Liensliens, security interests, assessments or other encumbrances of any and every nature whatsoever at any time levied, placed upon or asserted against the Collateral, except for Permitted Liens, (b) in the event Debtor fails to comply with SECTION 5.18 of the Credit Agreement, place and pay for insurance on the Collateral, including insurance that only protects Secured Party’s 's interest, (c) pay for the repair, improvement, testing, maintenance and preservation of the Collateral, (d) pay any filing, recording, registration, licensing or certification fees or other fees and charges related to the Collateral, or (de) take any other action to preserve and protect the Collateral and Secured Party’s 's rights and remedies under this Agreement as Secured Party may deem reasonably necessary or appropriate. Pledgor and Alliance agree Debtor agrees that Secured Party shall have no duty or obligation whatsoever to take any of the foregoing actionactions. Pxxxxxx Debtor agrees to promptly reimburse Secured Party upon written demand for any payment made or any expense incurred by Secured Party pursuant to this authorizationSECTION 5.01. These payments and expenditures, together with interest thereon from date such written demand is received by Pledgor incurred until paid by Borrower or Pledgor Debtor at the Default Rate, which Pxxxxxx Debtor agrees to promptly pay promptly (but not later than ten (10) Business Days) upon receipt of such written demand, shall constitute additional Obligations and shall be secured by and entitled to the benefits of this Agreement.

Discharge Encumbrances. If not timely discharged by the a Pledgor or Alliancean Issuer, Secured Party, at its option, after any Event of Default, but without any obligation whatsoever to do so, and with not less than ten (10) Business Days’ notice to such Pledgor to the extent practical under the circumstances, may (a) discharge taxes, claims, charges, Liens, security interests, assessments or other encumbrances of any and every nature whatsoever at any time levied, placed upon or asserted against the Collateral, (b) place and pay for insurance on the Collateral, including insurance that only protects Secured Party’s interest, (c) pay any filing, recording, registration, licensing or certification fees or other fees and charges related to the Collateral, or (d) take any other action to preserve and protect the Collateral and Secured Party’s rights and remedies under this Agreement as Secured Party may deem reasonably necessary or appropriate. Pledgor and Alliance the Issuers agree that Secured Party shall have no duty or obligation whatsoever to take any of the foregoing action. Pxxxxxx agrees The Pledgors agree to promptly reimburse Secured Party upon written demand for any payment made or any expense incurred by Secured Party pursuant to this authorization. These payments and expenditures, together with interest thereon from date such written demand is received by Pledgor the Pledgors until paid by Borrower or Pledgor Pledgors at the Default Rate, which Pxxxxxx agrees Pledgors agree to pay promptly (but not later than ten (10) Business Days) upon receipt of such written demand, shall constitute additional Obligations and shall be secured by and entitled to the benefits of this Agreement.