Common use of Expenses Incurred by Secured Party Clause in Contracts

Expenses Incurred by Secured Party. In Secured Party’s discretion, if Debtor fails to do so, Secured Party may discharge taxes and other encumbrances (other than Permitted Exceptions) at any time levied or placed on any of the Collateral, unless such taxes and encumbrances are being contested in good faith, maintain any of the Collateral, make repairs thereto and pay any necessary filing fees or insurance premiums. Debtor agrees to reimburse Secured Party on demand for all expenditures so made. Secured Party shall have no obligation to Debtor to make any such expenditures, nor shall the making thereof be construed as the waiver or cure of any Default or Event of Default.

Appears in 1 contract

Samples: Security Agreement (Utah Medical Products Inc)

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Expenses Incurred by Secured Party. In Secured Party’s sole and absolute discretion, if Debtor fails to do so, Secured Party may discharge taxes and other encumbrances (other than Permitted Exceptions) at any time levied or placed on any of the Collateral, unless such taxes and encumbrances are being contested in good faith, maintain any of the Collateral, make repairs thereto and pay any necessary filing fees or insurance premiums. Debtor agrees to reimburse Secured Party on demand for all expenditures so made. Secured Party shall not have no any obligation to Debtor to make any such expenditures, nor shall the making thereof be construed as the waiver or cure of any Default or Event of Default.

Appears in 1 contract

Samples: Security Agreement (Franklin Covey Co)

Expenses Incurred by Secured Party. In the Secured Party’s 's reasonable discretion, if the Debtor fails to do so, the Secured Party may discharge taxes and other encumbrances (other than Permitted Exceptions) at any time levied or placed on any of the Collateral, unless such taxes and encumbrances are being contested in good faithCollateral (other than Permitted Liens), maintain any of the Collateral, make repairs thereto and pay any necessary filing fees or insurance premiums. The Debtor agrees to reimburse the Secured Party on demand for all expenditures so made. The Secured Party shall have no obligation to the Debtor or any other person to make any such expenditures, nor shall the making thereof be construed as the a waiver or cure of any Default or Event of Default.

Appears in 1 contract

Samples: Security Agreement (Verso Technologies Inc)

Expenses Incurred by Secured Party. In the Secured Party’s discretion, if the Debtor fails to do so, the Secured Party may discharge taxes and other encumbrances (other than Permitted Exceptions) at any time levied or placed on any of the Collateral, unless such taxes and encumbrances are being contested in good faith, maintain any of the Collateral, make repairs thereto thereto, and pay any necessary filing fees or insurance premiums. The Debtor agrees to reimburse the Secured Party on demand for all expenditures so mademade and such expenditures will be deemed to be Obligations secured by the Collateral. The Secured Party shall have no obligation to the Debtor to make any such expenditures, nor shall the making thereof be construed as the waiver or cure of any Default or Event of Default.

Appears in 1 contract

Samples: Security Agreement (Cardinal Ethanol LLC)

Expenses Incurred by Secured Party. In the Secured Party’s discretion, if the Debtor fails to do so, upon giving the Debtor prior written notice thereof, the Secured Party may discharge taxes and other encumbrances (other than Permitted Exceptions) at any time levied or placed on any of the Collateral, unless such taxes and encumbrances are being contested in good faith, maintain any of the Collateral, make repairs thereto and pay any necessary filing fees or insurance premiums. The Debtor agrees to reimburse the Secured Party promptly on demand for all expenditures so made. The Secured Party shall have no obligation to the Debtor to make any such expenditures, nor shall the making thereof be construed as the waiver or cure of any Default or Event of Default.

Appears in 1 contract

Samples: Security Agreement (Nautilus, Inc.)

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Expenses Incurred by Secured Party. In the Secured Party’s 's ---------------------------------- discretion, if the Debtor fails to do so, the Secured Party may discharge taxes and other encumbrances (other than Permitted Exceptions) at any time levied or placed on any of the Collateral, unless such taxes and encumbrances are being contested in good faith, maintain any of the Collateral, make repairs thereto and pay any necessary filing fees or insurance premiums. Any such expenditures shall become and be treated as Obligations. The Debtor agrees to reimburse the Secured Party on demand for all expenditures so made. The Secured Party shall have no obligation to the Debtor to make any such expenditures, nor shall the making thereof be construed as the waiver or cure of any Default or Event of Default.

Appears in 1 contract

Samples: Security Agreement (Ydi Wireless Inc)

Expenses Incurred by Secured Party. In the Secured Party’s 's reasonable discretion, if Debtor fails any of the Debtors fail to timely do soso (as required hereunder or under the Loan Documents), the Secured Party may discharge taxes and other encumbrances (other than Permitted Exceptions) at any time levied or placed on any of the Collateral, unless such taxes and encumbrances are being contested in good faith, maintain any of the Collateral, make repairs thereto and pay any necessary filing fees or insurance premiums. Debtor agrees The Debtors agree to reimburse the Secured Party on demand for all reasonable expenditures so made. The Secured Party shall have no obligation to Debtor the Debtors or any other person to make any such expenditures, nor shall the making thereof be construed as the a waiver or cure of any Default or Event of Default.

Appears in 1 contract

Samples: Subsidiary Security Agreement (Miller Industries Inc /Tn/)

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