Common use of Discharge Encumbrances Clause in Contracts

Discharge Encumbrances. If not timely discharged by Debtor, Secured Party, at its option, whether before or after an Event of Default, but without any obligation whatsoever to do so, 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, 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 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 (e) 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 necessary or appropriate. Debtor agrees that Secured Party shall have no duty or obligation whatsoever to take any of the foregoing actions. Debtor agrees to promptly reimburse Secured Party upon demand for any payment made or any expense incurred by Secured Party pursuant to this SECTION 5.01. These payments and expenditures, together with interest thereon from date incurred until paid by Debtor at the Default Rate, which Debtor agrees to promptly pay upon 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 DebtorPledgor, Secured Party, at its option, whether before or after an Event of Default, but without any obligation whatsoever to do so, 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, 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 (e) 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 necessary or appropriateappropriate in its reasonable discretion. Debtor Pledgor agrees that Secured Party shall have no duty or obligation whatsoever to take any of the foregoing actionsaction. Debtor Pledgor agrees to promptly reimburse Secured Party upon demand for any payment made or any expense reasonably incurred by Secured Party pursuant to this SECTION 5.01authorization. These payments and expenditures, together with interest thereon from date incurred until paid by Debtor Pledgor at the Default Ratedefault rate of interest set forth in Subsection 2.4(b) of the Term Loan Agreement, which Debtor Pledgor agrees to promptly pay upon demandwithin thirty (30) days from the date incurred, shall constitute additional Obligations and shall be secured by and entitled to the benefits of this Agreement.

Discharge Encumbrances. If not timely discharged by Debtorthe a Pledgor or an Issuer, Secured Party, at its option, whether before or after an 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, 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 (ed) 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. Debtor agrees Pledgor and the Issuers agree that Secured Party shall have no duty or obligation whatsoever to take any of the foregoing actionsaction. Debtor 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 SECTION 5.01authorization. These payments and expenditures, together with interest thereon from date incurred such written demand is received by the Pledgors until paid by Debtor Borrower or Pledgors at the Default Rate, which Debtor agrees Pledgors agree to pay promptly pay (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 DebtorPledgor or Third Ave, Secured Party, at its option, whether before or after an 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, 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 (ed) 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. Debtor agrees Pledgor and Third Ave agree that Secured Party shall have no duty or obligation whatsoever to take any of the foregoing actionsaction. Debtor Pxxxxxx agrees to promptly reimburse Secured Party upon written demand for any payment made or any expense incurred by Secured Party pursuant to this SECTION 5.01authorization. These payments and expenditures, together with interest thereon from date incurred such written demand is received by Pledgor until paid by Debtor Borrower or Pledgor at the Default Rate, which Debtor Pxxxxxx agrees to pay promptly pay (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 DebtorPledgor or Aviation, Secured Party, at its option, whether before or after an 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, 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 (ed) 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. Debtor agrees Pledgor and Aviation agree that Secured Party shall have no duty or obligation whatsoever to take any of the foregoing actionsaction. Debtor Pxxxxxx agrees to promptly reimburse Secured Party upon written demand for any payment made or any expense incurred by Secured Party pursuant to this SECTION 5.01authorization. These payments and expenditures, together with interest thereon from date incurred such written demand is received by Pledgor until paid by Debtor Borrower or Pledgor at the Default Rate, which Debtor Pxxxxxx agrees to pay promptly pay (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 DebtorPledgor or Alliance, Secured Party, at its option, whether before or after an 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, 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 (ed) 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. Debtor agrees Pledgor and Alliance agree that Secured Party shall have no duty or obligation whatsoever to take any of the foregoing actionsaction. Debtor Pxxxxxx agrees to promptly reimburse Secured Party upon written demand for any payment made or any expense incurred by Secured Party pursuant to this SECTION 5.01authorization. These payments and expenditures, together with interest thereon from date incurred such written demand is received by Pledgor until paid by Debtor Borrower or Pledgor at the Default Rate, which Debtor Pxxxxxx agrees to pay promptly pay (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.