Common use of Failure to Pay Insurance Clause in Contracts

Failure to Pay Insurance. If any Borrower fails to obtain insurance as hereinabove provided, or to keep the same in force, Lender, if Lender so elects, may obtain such insurance and pay the premium therefor for Borrowers, account, and charge Borrowers' account therefor, and such expenses so paid shall be part of the Obligations.

Appears in 1 contract

Samples: Revolving Credit Agreement (Claires Stores Inc)

AutoNDA by SimpleDocs

Failure to Pay Insurance. If any the Borrower fails to obtain insurance as hereinabove provided, or to keep the same in force, the Lender, if the Lender so elects, may obtain such insurance and pay the premium therefor for Borrowers, the Borrower's account, and charge Borrowers' any account therefor, of the Borrower therefore and such expenses so paid shall be part of the Obligations.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Tii Industries Inc)

Failure to Pay Insurance. If any Borrower fails to obtain insurance as hereinabove provided, or to keep the same in force, Lender, if Lender so elects, may obtain such insurance and pay the premium therefor for Borrowers, accounton behalf of such Borrower, and charge Borrowers' account therefor, Borrower’s Account therefor as a Revolving Advance of a Domestic Rate Loan and such expenses so paid shall be part of the Obligations.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Franklin Electronic Publishers Inc)

Failure to Pay Insurance. If any the Borrower fails to obtain insurance as hereinabove provided, or to keep the same in force, the Lender, if the Lender so elects, may obtain such insurance and pay the premium therefor for Borrowers, account, the Borrower's account and charge Borrowers' the Borrower's account therefor, therefore and such expenses so paid shall be part of the Obligations.

Appears in 1 contract

Samples: Credit Agreement (Cold Metal Products Inc)

Failure to Pay Insurance. If any Borrower fails to obtain insurance as hereinabove provided, or to keep the same in force, Lender, if Lender so elects, may obtain such insurance and pay the premium therefor for Borrowers, ' account, and charge Borrowers' account therefor, therefor and such expenses so paid shall be part of the Obligations.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Parlux Fragrances Inc)

Failure to Pay Insurance. If any Borrower fails to obtain insurance as hereinabove provided, or to keep the same in force, Lender, if Lender so elects, may obtain such insurance and pay the premium therefor on behalf of such Borrower. Borrowers shall reimburse Lender for Borrowerssuch premium immediately upon demand and, accountif not promptly paid, and charge Borrowers' account therefor, and such expenses so paid shall accrue interest at the Default Rate. All of the foregoing Obligations shall be part of secured by the ObligationsCollateral.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Allied Motion Technologies Inc)

Failure to Pay Insurance. If any Borrower fails to obtain insurance as hereinabove provided, or to keep the same in force, Lender, if Lender so elects, may obtain such insurance and pay the premium therefor for Borrowers, account, and charge Borrowers' account thereforon behalf of Borrower, and such expenses so paid shall be part of the ObligationsObligations and shall be paid by Borrower to Lender, on demand.

Appears in 1 contract

Samples: Term Loan and Security Agreement (U S Wireless Data Inc)

Failure to Pay Insurance. If any the Borrower fails to obtain insurance as hereinabove provided, or to keep the same in force, Lenderthe Lender may, if Lender it so elects, may obtain such insurance and pay the premium therefor for Borrowers, accounton behalf of the Borrower, and charge Borrowers' account therefor, Borrower's Account therefor as a Revolving Advance and such expenses so paid shall be part of the Obligations.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Fidelity National Information Solutions Inc)

Failure to Pay Insurance. If any Borrower fails the Borrowers fail to obtain insurance as hereinabove provided, or to keep the same in force, the Lender, if the Lender so elects, may obtain such insurance and pay the premium therefor for the Borrowers, ' account, and charge the Borrowers' account therefor, therefore and such expenses so paid shall be part of the Obligations.

Appears in 1 contract

Samples: Credit and Security Agreement (Canisco Resources Inc)

Failure to Pay Insurance. If any Borrower fails to obtain insurance as hereinabove provided, or to keep the same in force, Lender, if Lender so elects, may obtain such insurance and pay the premium therefor for such Borrowers, ' account, and charge Borrowers' account therefor, therefor and such expenses so paid shall be part of the Obligations.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (E Com Ventures Inc)

Failure to Pay Insurance. If any Borrower fails to obtain insurance as hereinabove provided, or to keep the same in force, Lender, if Lender so elects, may obtain such insurance and pay the premium therefor for Borrowers, accountBorrower's Account, and charge Borrowers' account therefor, Borrower's Account therefor and such expenses so paid shall be part of the Obligations.

Appears in 1 contract

Samples: Loan and Security Agreement (Atari Inc)

AutoNDA by SimpleDocs

Failure to Pay Insurance. If any Borrower fails to obtain insurance as hereinabove provided, or to and keep the same in force, Lender, if Lender so elects, may obtain such insurance and pay the premium therefor for Borrowers, accountBorrower's Account, and charge Borrowers' account therefor, Borrower's Account therefor and such expenses so paid shall be part of the Obligations.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Meridian Sports Inc)

Failure to Pay Insurance. If any Borrower fails to obtain or to cause Guarantor to obtain insurance as hereinabove provided, or to keep the same in force, Lender, if Lender so elects, may obtain such insurance and pay the premium therefor for Borrowers, Borrower's account, and charge Borrowers' Borrower's account therefor, therefor and such expenses so paid shall be part of the Obligations.

Appears in 1 contract

Samples: Credit and Security Agreement (Cold Metal Products Inc)

Failure to Pay Insurance. If any the Borrower fails to obtain insurance as hereinabove provided, or to keep the same in force, the Lender, if Lender so electsin its sole discretion, may obtain such insurance and pay the premium therefor for Borrowers, the Borrower's account, and charge Borrowers' the Borrower's account therefor, therefore and such expenses premium so paid shall be part of the Obligations.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Tristar Corp)

Failure to Pay Insurance. If any Borrower fails to obtain insurance as hereinabove provided, or to keep the same in force, Lender, if Lender so elects, may obtain such insurance and pay the premium therefor for Borrowers, Borrower's account, and charge Borrowers' Borrower's account therefor, therefor and such expenses so paid shall be part of the Obligations.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Prima Group International Inc)

Failure to Pay Insurance. If any Borrower fails the Borrowers fail to obtain insurance as hereinabove provided, or to keep the same in force, the Lender, if the Lender so elects, may obtain such insurance and pay the premium therefor for the Borrowers, ' account, and charge Borrowers' any account therefor, of Borrowers therefore and such expenses so paid shall be part of the Obligations.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Tii Industries Inc)

Failure to Pay Insurance. If any Borrower fails to obtain insurance as hereinabove provided, or to keep the same in force, Lender, if Lender so elects, may obtain such insurance and pay the premium therefor for Borrowers, accounton behalf of Borrower, and charge Borrowers' account therefor, Borrower's Account therefor as a Revolving Advance of a Domestic Rate Loan and such expenses so paid shall be part of the Obligations.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Measurement Specialties Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!