Common use of Lender’s Right to Cure Clause in Contracts

Lender’s Right to Cure. Administrative Agents or any Lender may (but shall not be obligated to), from time to time, in their absolute discretion, for Reseller’s account and at Reseller’s expense, pay (or, with the consent of Required Lenders, make a Revolving Loan Advance, or Floorplan Loan Advance to pay) any amount or do any act required of Reseller hereunder or requested by Administrative Agents or Required Lenders to preserve, protect, maintain or enforce the Loan Obligations, the Collateral or Collateral Agent’s Security Interests therein for the benefit of Lenders, and which Reseller fails to pay or do after having been provided five days’ written notice of such failure by Administrative Agents, including payment of any judgment against Reseller, insurance premium, Taxes, warehouse charge, finishing or processing charge, landlord’s claim, and any other Security Interest upon or with respect to the Collateral. All payments that Lenders make pursuant to this Section and all out-of-pocket costs and expenses that Lenders pay or incur in connection with any action taken by them hereunder shall be a part of the Loan Obligations, the repayment of which shall be secured by the Collateral. Any payment made or other action taken by Lenders pursuant to this Section shall be without prejudice to any right to assert an Event of Default hereunder and to pursue Lender’s other rights and remedies with respect thereto.

Lender’s Right to Cure. Administrative Agents or any Lender may (but shall not be obligated to), from time to time, in their absolute discretion, for any Reseller’s account accounts and at such Reseller’s expense, pay (or, with the consent of Required Lenders, make a Revolving Loan Advance, or Floorplan Loan Advance to pay) any amount or do any act required of such Reseller hereunder or requested by Administrative Agents or Required Lenders to preserve, protect, maintain or enforce the Loan Obligations, the Collateral or Collateral Agent’s Security Interests Liens therein for the benefit of LendersHolders of Secured Obligations, and which such Reseller fails to pay or do after having been provided five days’ written notice of such failure by the Administrative Agents, including payment of any judgment against such Reseller, insurance premiumpremiums, Taxes, warehouse chargecharges, finishing or processing chargecharges, landlord’s claimclaims, and any other Security Interest Lien upon or with respect to the Collateral. All payments that Lenders Administrative Agents make pursuant to this Section and all out-of-pocket costs and expenses that Lenders Administrative Agents pay or incur in connection with any action taken by them hereunder shall be a part of the Loan Obligations, the repayment of which shall be secured by the Collateral. Any payment made or other action taken by Lenders Administrative Agents pursuant to this Section shall be without prejudice to any right to assert an Event of Default hereunder and to pursue Lender’s other available rights and remedies with respect thereto.

Lender’s Right to Cure. Administrative Agents or any Lender may (but shall not be obligated to), from time to time, in their absolute discretion, for any Reseller’s account accounts and at such Reseller’s expense, pay (or, with the consent of Required Lenders, make a Revolving Loan Advance, or Floorplan Channel Finance Loan Advance to pay) any amount or do any act required of such Reseller hereunder or requested by Administrative Agents or Required Lenders to preserve, protect, maintain or enforce the Loan Obligations, the Collateral or Collateral Agent’s Security Interests Liens therein for the benefit of LendersHolders of Secured Obligations, and which such Reseller fails to pay or do after having been provided five days’ written notice of such failure by the Administrative Agents, including payment of any judgment against such Reseller, insurance premiumpremiums, Taxes, warehouse chargecharges, finishing or processing chargecharges, landlord’s claimclaims, and any other Security Interest Lien upon or with respect to the Collateral. All payments that Lenders Administrative Agents make pursuant to this Section and all out-of-pocket costs and expenses that Lenders Administrative Agents pay or incur in connection with any action taken by them hereunder shall be a part of the Loan Obligations, the repayment of which shall be secured by the Collateral. Any payment made or other action taken by Lenders Administrative Agents pursuant to this Section shall be without prejudice to any right to assert an Event of Default hereunder and to pursue Lender’s other available rights and remedies with respect thereto.