Common use of Owner’s Covenant to Pay and Perform Clause in Contracts

Owner’s Covenant to Pay and Perform. The Owner covenants with the Mortgagee to discharge the Secured Obligations on demand from time to time in accordance with the Credit Agreement, and to pay all other sums at any time due under or pursuant to the Junior Finance Documents in each case at the times and in the manner provided therein and to perform all its other obligations arising out of the Junior Finance Documents as and when the same shall be due for performance.