IBM Credit without waiving or releasing any Obligation or Default of the Customer, may perform any Obligations of the Customer that the Customer shall fail or refuse to perform and IBM Credit may, at any time or times hereafter, but shall be under no obligation so to do, pay, acquire or accept any assignment of any security interest, lien, encumbrance or claim against the Collateral asserted by any person. All sums paid by IBM Credit in performing in satisfaction or on account of the foregoing and any expenses, including reasonable attorney's fees, court costs, and other charges relating thereto, shall be a part of the Obligations, payable on demand and secured by the Collateral.
IBM Credit may apply any payments and Supplier Credits received by IBM Credit to reduce finance charges first and then to principal amounts of Advances owed by Customer. IBM Credit may apply principal payments to the oldest (earliest) invoices (and related Product Advances) first, but, in any case, all principal payments will be applied in respect of the Outstanding Product Advances made for Products which have been sold, lost, stolen, destroyed, damaged or otherwise disposed of prior to any other application thereof.
IBM Credit. IBM Credit may, upon written notice to Borrower, cease to include a supplier as an Authorized Supplier.
IBM Credit s notification to any Account debtors thereon of IBM Credit's security interest in any of the Accounts;
IBM Credit without waiving or releasing any Obligation or Default of any Loan Party, may perform any Obligations of the any Loan Party that any Loan Party shall fail or refuse to perform and IBM Credit may, at any time or times hereafter, but shall be under no obligation to do so, pay, acquire or accept any assignment of any security interest, lien, encumbrance or claim against the Collateral asserted by any person. All sums paid by IBM Credit in performing in satisfaction or on account of the foregoing and any expenses, including reasonable attorney's fees, court costs, and other charges relating thereto, shall be a part of the Obligations, payable on demand and secured by the Collateral.
IBM Credit. Nothing herein shall impose any obligation on IBM Credit to sell participations in any Obligations hereunder or to enter into any Participation Agreement and IBM Credit shall have no liability for its failure to do so."
IBM Credit s rights under the Agreement and IBM Credit’s security interest in the Collateral shall continue after termination of this Addendum until all of Customers’ Obligations to IBM Credit are paid in full. The covenants, warranties and representations of this Addendum shall survive termination of the Addendum.
IBM Credit. By /s/ Thomas Curcio ------------------------------------- Title: Manager of Credit STEIN ROE FLOATING RATE LIMITEX LIABILITY COMPANY By ------------------------------------- Title: STEIN ROE AND FARNHAM INCORPORXXXX AS AGENT FOR KEYPORT LIFE INSURANCE COMPANY By ------------------------------------- Title:
IBM Credit and Borrower acknowledge that this Agreement, and any further exhibits, addendums or amendments thereto, or any information disclosed under this Agreement, are strictly confidential, and neither IBM Credit nor Borrower shall reproduce or disclose to any third party any or all of such confidential matters unless the other party hereto consents in writing to such reproduction or disclosure or except as required by law including required filings with the Securities and Exchange Commission; provided that the foregoing limitations shall not apply to information which (i) is or becomes available to the general public other than as a result of a disclosure by Borrower, (ii) was already in IBM Credit's possession on a non-confidential basis prior to its disclosure by Borrower or (iii) becomes available to IBM Credit on a non-confidential basis from a source other than Borrower. Notwithstanding the foregoing, neither IBM Credit nor Borrower will be prevented from disclosing confidential matters (i) to its legal counsel and independent auditors, (ii) to any potential holder of a participating interest, assignment or other interest in the obligations of Borrower under this Agreement or any Person that provides or may provide credit insurance or similar service to IBM Credit which, in each case, agrees in writing to maintain the confidentiality of such information on terms, considered as a whole, no less protective than those contained herein, (iii) to the extent reasonably required in connection with any litigation to which IBM Credit or Borrower may be a party, (iv) to the extent reasonably required in connection with the exercise of any remedy hereunder or (v) upon the order of any court or administrative agency. In addition to the foregoing, Borrower may provide a copy of this Agreement to its creditors upon the request of any such creditor.
IBM Credit s failure to take action whenever Borrower defaults shall not prevent IBM Credit from taking action or waive IBM Credit's right to take action as to any default or any later default.
