Common use of Expenses Incurred by Agent Clause in Contracts

Expenses Incurred by Agent. In the Agent’s discretion, if the Guarantor fails to do so, the Agent may discharge taxes and other encumbrances at any time levied or placed on any of the Collateral, make repairs thereto, maintain any of the Collateral, and pay any necessary filing fees or insurance premiums. The Guarantor agrees to reimburse the Agent on demand for all expenditures so made. The Agent shall have no obligation to the Guarantor to make any such expenditures, nor shall the making thereof be construed as a waiver or cure of any Default or Event of Default.

Expenses Incurred by Agent. In the Agent’s discretion, if the Guarantor Borrower fails to do so, the Agent may discharge taxes and other encumbrances at any time levied or placed on any of the Collateral, make repairs thereto, maintain any of the Collateral, and pay any necessary filing fees or insurance premiums. The Guarantor Borrower agrees to reimburse the Agent on demand for all expenditures so made. The Agent shall have no obligation to the Guarantor Borrower to make any such expenditures, nor shall the making thereof be construed as a waiver or cure of any Default or Event of Default.