Lender’s Right to Perform. If Borrower fails to make any payment under this Agreement or fails to perform any of its other obligations in this Agreement (including, without limitation, its agreement to provide insurance coverage), Lender may itself make such payment or perform such obligation, and the amount of such payment and the amount of the expenses of Lender incurred in connection with such payment or performance shall be deemed to be additional principal under the Note which is payable by Borrower on demand.
Appears in 11 contracts
Samples: Loan and Security Agreement (Primeenergy Corp), Loan and Security Agreement (Primeenergy Corp), Loan and Security Agreement (Primoris Services Corp)
Lender’s Right to Perform. If Borrower fails to make any payment under this Agreement or fails to perform any of its other obligations in this Agreement (including, without limitation, its agreement to provide insurance coverage), Lender may itself make such payment or perform such obligation, and the amount of such payment and the amount of the reasonable expenses of Lender incurred in connection with such payment or performance shall be deemed to be additional principal under the Note which is payable by Borrower on demand.
Appears in 10 contracts
Samples: Loan and Security Agreement, Loan and Security Agreement (Abx Air Inc), Loan and Security Agreement (Abx Air Inc)
