Common use of LESSOR’S RIGHT TO PERFORM LEASEE’S DUTIES Clause in Contracts

LESSOR’S RIGHT TO PERFORM LEASEE’S DUTIES. In the event Leasee fails to keep and perform any covenant or agreement herein made, whether with respect to payment of taxes, maintenance, insurance, repair of the Equipment or otherwise, Lessor may perform such obligations on Leasee’s behalf, in which event all monies expended by Lessor and other reasonable charges in so doing shall be payable to Lessor by Leasee forthwith upon demand and shall bear interest from thee date such monies are advanced until date of payment at the rate, twelve (12%) percent.

LESSOR’S RIGHT TO PERFORM LEASEE’S DUTIES. In the event Leasee Lessee fails to keep and perform any covenant or agreement herein made, whether with respect to payment of taxes, maintenance, insurance, repair of the Equipment or otherwise, Lessor may perform such obligations on Leasee’s behalf, in which event all monies expended by Lessor and other reasonable charges in so doing shall be payable to Lessor by Leasee forthwith upon demand and shall bear interest from thee date such monies are advanced until date of payment at the rate, twelve (12%) percent.