Common use of Lender May Perform Covenants Clause in Contracts

Lender May Perform Covenants. 8.10 If any of the Credit Parties shall fail to perform any of its respective covenants contained in this Agreement or any of the other Facility Documents, the Lender may, upon becoming aware of such failure, in its discretion, but need not, itself perform any of such covenants capable of being performed by it, but is under no obligation to do so. All sums so required to be paid in connection with the Lender’s performance of any covenant will be paid by the Credit Parties and all sums so paid shall be payable by the Credit Parties in accordance with the provisions of Section 8.4. No such performance by the Lender of any such covenant or payment or expenditure by any Credit Party of any sums advanced or borrowed by the Lender pursuant to the foregoing provisions shall be deemed to relieve any of the Credit Parties from any default hereunder or their respective continuing obligations hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Alio Gold Inc.), Credit Agreement (Alio Gold Inc.)

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Lender May Perform Covenants. 8.10 7.10 If any of the Credit Parties Borrower shall fail to perform any of its respective covenants contained in this Agreement or any of the other Facility Security Documents, the Lender may, upon becoming aware of such failure, in its discretion, but need not, itself perform any of such covenants capable of being performed by it, but is under no obligation to do so. All reasonable sums so required to be paid in connection with the Lender’s performance of any covenant will be paid by the Credit Parties Borrower and all sums so paid shall be payable by the Credit Parties Borrower in accordance with the provisions of Section 8.47.4 hereof. No such performance by the Lender of any such covenant or payment or expenditure by any Credit Party the Borrower of any sums advanced or borrowed by the Lender pursuant to the foregoing provisions shall be deemed to relieve any of the Credit Parties Borrower from any default hereunder or their respective its continuing obligations hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Resource Capital Fund VI L.P.), Credit Agreement (Canadian Zinc Corp)

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Lender May Perform Covenants. 8.10 8.9 If any of the Credit Parties Borrower shall fail to perform any of its respective covenants contained in this Agreement or any of the other Facility Security Documents, the Lender may, upon becoming aware of such failure, in its discretion, but need not, itself perform any of such covenants capable of being performed by it, but is under no obligation to do so. All reasonable sums so required to be paid in connection with the Lender’s performance of any covenant will be paid by the Credit Parties Borrower and all sums so paid shall be payable by the Credit Parties Borrower in accordance with the provisions of Section 8.48.4 hereof. No such performance by the Lender of any such covenant or payment or expenditure by any Credit Party the Borrower of any sums advanced or borrowed by the Lender pursuant to the foregoing provisions shall be deemed to relieve any of the Credit Parties Borrower from any default hereunder or their respective its continuing obligations hereunder.

Appears in 1 contract

Samples: Credit Agreement (Renaissance Oil Corp.)

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