Common use of Lessor May Pay Liens Or Charges Payable To Lessee Clause in Contracts

Lessor May Pay Liens Or Charges Payable To Lessee. Lessor shall have the option to pay any lien or charge payable by Lessee under this Lease; or settle any action therefore, if Lessee, after written notice from Lessor or the Secretary, fails to pay, post bond, or take other action to protect against enforcement. All costs and other expenses incurred by Lessor in so doing shall be paid to Lessor by Lessee upon demand with interest from the date of demand to the date of payment, computed on an annual rate three percentage points above the prime rate as set by the Citibank N.A. of New York on the fast day of the month in which demand is made by Lessor, provided, that the prime rate for purposes of this subsection shall not be less than six percent (6%) per annum. Failure to make such repayment on demand shall constitute a breach of this Lease.

Lessor May Pay Liens Or Charges Payable To Lessee. Lessor shall have the option to pay any lien or charge payable by Lessee under this Lease; , or settle any action therefore, if Lessee, after written notice from Lessor or the Secretary, fails to pay, post bond, or take other action to protect against enforcement. All costs and other expenses incurred by Lessor in so doing shall be paid to Lessor by Lessee upon demand with interest from the date of demand to the date of payment, computed on an annual rate three percentage points (3%) above the prime rate as set by the Citibank N.A. of New York on the fast first day of the month in which demand is made by Lessor, provided, that the prime rate for purposes of this subsection shall not be less than six percent (6%) per annum. Failure to make such repayment on demand shall constitute a breach of this Lease.

Lessor May Pay Liens Or Charges Payable To Lessee. Lessor shall have the option to pay any lien or charge payable by Lessee under this Lease; , or settle any action therefore, if LesseeXxxxxx, after written notice from Lessor or the Secretary, fails to pay, post bond, or take other action to protect against enforcement. All costs and other expenses incurred by Lessor in so doing shall be paid to Lessor by Lessee Xxxxxx upon demand with interest from the date of demand to the date of payment, computed on an annual rate three percentage points (3%) above the prime rate as set by the Citibank N.A. of New York on the fast first day of the month in which demand is made by Lessor, provided, that the prime rate for purposes of this subsection shall not be less than six percent (6%) per annum. Failure to make such repayment on demand shall constitute a breach of this Lease.