LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 4 contracts
Samples: Business Loan Agreement (Hickok Inc), Business Loan Agreement (Hickok Inc), Business Loan Agreement (Hickok Inc)
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documentsrelated documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documentsrelated documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid To the extent permitted by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All applicable law, all such expenses will become a part of the Indebtedness Obligations and, at Lender's option, will will: (Ai) be payable on demand; (Bii) be added to the balance of the Note Loan and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the NoteLoan; or (Ciii) be treated as a balloon payment which that will be due and payable at the NoteLoan's maturity. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon an Event of Default.
Appears in 3 contracts
Samples: Business Loan and Security Agreement, Business Loan and Security Agreement (Vapor Hub International Inc.), Business Loan and Security Agreement (Vapor Hub International Inc.)
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.or
Appears in 2 contracts
Samples: Business Loan Agreement (Exigent International Inc), Business Loan Agreement (Exigent International Inc)
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes purposes, with the exception of insurance premiums paid by Lender with respect to motor vehicles, but including the payment of attorneys' fees and expenses, will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.
Appears in 2 contracts
Samples: Commercial Pledge Agreement (ERBA Diagnostics, Inc.), Commercial Security Agreement (ERBA Diagnostics, Inc.)
LENDER'S EXPENDITURES. If any legal action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will shall then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will shall become a part of the Indebtedness and, at Lender's option, will shall (Aa) be payable on demand; (Bb) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (Cc) be treated as a balloon payment which will shall be due and payable at the Note's maturity.
Appears in 2 contracts
Samples: Business Loan Agreement (Deja Foods Inc), Business Loan Agreement (Deja Foods Inc)
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.or
Appears in 2 contracts
Samples: Business Loan Agreement (Egames Inc), Business Loan Agreement (Coast Financial Holdings Inc)
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any CollateralCollateral . All such expenditures incurred or paid by Lender for such purposes purposes, with the exception of insurance premiums paid by Lender with respect to motor vehicles, but including the payment of attorneys’ fees and expenses, will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related of the other Loan Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related of the other Loan Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems reasonably appropriate to maintain and preserve the Collateral, including but not limited to discharging or paying all taxes, liens, security Interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral; provided. however, that, except in exercise of its rights and remedies under Section 15 of this Agreement, Lender shall not remove the Collateral from the Premises and shall not take custody or control of the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note Default Rate from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.or
Appears in 1 contract
Samples: Equipment Loan and Security Agreement (Dicon Fiberoptics Inc)
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documentsrelated documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documentsrelated documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid To the extent permitted by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All applicable law, all such expenses will become a part of the Indebtedness amount owed to Lender by Borrower and, at Lender's option, will will: (Ai) be payable on demand; (Bii) be added to the balance of the Note Loan and be apportioned among and be payable with any installment payments to become due during either (1a) the term of any applicable insurance policy; policy or (2b) the remaining term of the NoteLoan; or (Ciii) be treated as a balloon payment which that will be due and payable at the Note's Loan’s maturity. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon an Event of Default.
Appears in 1 contract
LENDER'S EXPENDITURES. If any action anx xxxion or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related DocumentsDocuments after any period of notice and opportunity to cure set forth herein, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become wxxx xxxxme a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.or
Appears in 1 contract
Samples: Business Loan Agreement (Baywood International Inc)
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documentsdocuments, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.or
Appears in 1 contract
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, and maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.or
Appears in 1 contract
Samples: Commercial Security Agreement (Category 5 Technologies Inc)
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes purposes, with the exception of insurance premiums paid by Lender with respect to motor vehicles, but including the payment of attorneys' fees and expenses, will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon an Event of Default.
Appears in 1 contract
Samples: Continuing General Security Agreement (Cpi Aerostructures Inc)
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
Samples: Business Loan Agreement (Nocopi Technologies Inc/Md/)
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's Lenders interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Borrowers behalf may (but shall not be obligated to) take any action that Lender deems appropriate appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any lime levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes purposes, with the exception of insurance premiums paid by Lender with respect to motor vehicles, but including the payment of attorneys’ fees and expenses, will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documentsrelated documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documentsrelated documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid To the extent permitted by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All applicable law, all such expenses will become a part of the Indebtedness amount owed to Lender by Borrower and, at Lender's ’s option, will will: (Ai) be payable on demand; (Bii) be added to the balance of the Note Loan and be apportioned among and be payable with any installment payments to become due during either (1a) the term of any applicable insurance policy; policy or (2b) the remaining term of the NoteLoan; or (Ciii) be treated as a balloon payment which that will be due and payable at the Note's Loan’s maturity.. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon an Event of Default. 3 of 11 (Weekly LSA 2019) Borrower Initials
Appears in 1 contract
Samples: Business Loan and Security Agreement (Applied Minerals, Inc.)
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of if this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall still not be obligated to) take any action that Lender deems appropriate appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all BUSINESS LOAN AGREEEMENT (Continued) 8 costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be by payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due either during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such such' purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.or
Appears in 1 contract
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially adversely affect Lender's ’s interest in the Collateral TridentHE or if Borrower fails to comply with any provision of this Agreement or any Related other Loan Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related other Loan Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral TridentHE and paying all costs for insuring, maintaining and preserving any CollateralTridentHE. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note unless payment of interest at that rate would be contrary to applicable law, in which event such expenses shall bear interest at the highest rate permitted by applicable law from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes purposes, with the exception of insurance premiums paid by Lender with respect to motor vehicles, but including the payment of attorneys' fees and expenses, will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 1 contract
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
Samples: Business Loan Agreement (Nocopi Technologies Inc/Md/)
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate appropriate, to the extent permitted by applicable law, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.or
Appears in 1 contract
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes purposes, with the exception of insurance premiums paid by Lender with respect to motor vehicles, but including the payment of attorneys’ fees and expenses, will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated treated. as a balloon payment which will be due and payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.
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Samples: Commercial Security Agreement (Cpi Aerostructures Inc)
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Property or Collateral or if Borrower fails to comply with any provision of this Agreement or any Related person fails to perform any duty to Lender under any of the Loan Documents, including including, but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related of the Loan Documents, Lender on Borrower's ’s or the failing person’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate appropriate, including, but not limited to discharging or paying all taxes, liens, security interests, encumbrances, and other claims, at any time levied or placed on the Property or any Collateral and paying all costs for costs, insuring, maintaining maintaining, and preserving the Property or any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note Premium Rate from the date incurred or paid by Lender to the date of repayment by Borrowerrepayment. All such expenses will become a part of the Indebtedness and, at Lender's option, indebtedness and will (A) be payable on demand; (B) or at Lender’s options if Lender gives written notice to Borrower, may be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) upon the term of any applicable insurance policy; Maturity Date or (2) the remaining term of other payment date provided in the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
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Samples: Construction and Term Loan Agreement
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes purposes, with the exception of insurance premiums paid by Lender with respect to motor vehicles, but including the payment of attorneys’ fees and expenses, will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
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Samples: Business Loan Agreement (Wayside Technology Group, Inc.)