Common use of Lender May Perform Covenants Clause in Contracts

Lender May Perform Covenants. If an Obligor fails to perform any covenant or agreement on its part in this Agreement, the Lender may, but is not required to, on 10 days’ notice to that Obligor, perform that covenant or agreement if it is capable of being performed by the Lender, and if that covenant or agreement requires the payment of money the Lender may, but is not required to, make that payment with its own funds. All amounts paid by the Lender under this Section 10.6 will be repaid by the Borrower on demand for payment, and will bear interest at 12% per annum commencing on the day of payment of those amounts by the Lender, calculated daily and payable on demand.

Lender May Perform Covenants. If an Obligor fails to perform any covenant or agreement on its part in this Agreement, any Lender (with the Lender concurrence of the Required Lenders) may, but is not required to, on 10 days’ notice to that Obligor, perform that covenant or agreement if it is capable of being performed by the such Lender, and if that covenant or agreement requires the payment of money the money, such Lender may, but is not required to, make that payment with its own funds. All amounts paid by the any Lender under this Section 10.6 will be repaid by the Borrower on demand for payment, and will bear interest at 12% per annum commencing on the day of payment of those amounts by the such Lender, calculated daily and payable on demand.

Lender May Perform Covenants. If an Obligor the Borrower fails to perform any covenant or agreement on its part in this Agreement, the Lender may, but is not required to, on 10 days’ notice to that Obligorthe Borrower, perform that covenant or agreement if it is capable of being performed by the Lender, and if that covenant or agreement requires the payment of money the Lender may, but is not required to, make that payment with its own funds. All amounts paid by the Lender under this Section 10.6 9.7 will be repaid by form part of the Borrower on demand for paymentOutstanding Obligations, and will bear interest at 12the rate of 10% per annum commencing on the day of payment of those amounts by the Lender, calculated daily and payable on demand.