Common use of Pay Encumbrances Clause in Contracts

Pay Encumbrances. The Lender may pay any Encumbrance that may exist or be threatened against the Collateral. In addition, the Lender may borrow money required for the maintenance, preservation or protection of the Collateral or for the carrying on of the business or undertaking of the Grantor and may grant further security interests in the Collateral in priority to the security interest created hereby as security for the money so borrowed. In every such case the amounts so paid or borrowed together with costs, charges and expenses incurred in connection therewith shall be deemed to have been advanced to the Grantor by the Lender, shall become part of the Liabilities, shall bear interest at the highest rate per annum charged by the Lender on the Liabilities or any part thereof and shall be secured by this Security Agreement.

Pay Encumbrances. The Lender may pay any Encumbrance encumbrance that may exist or be threatened against the Collateral. In addition, the Lender may borrow money required for the maintenance, preservation or protection of the Collateral or for the carrying on of the business or undertaking of the Grantor Debtor and may grant further security interests in the Collateral in priority to the security interest created hereby as security for the money so borrowed. In every such case the amounts so paid or borrowed together with costs, charges and expenses incurred in connection therewith shall be deemed to have been advanced to the Grantor Debtor by the Lender, shall become part of the LiabilitiesObligations, shall bear interest at the highest rate per annum charged by the Lender on the Liabilities Obligations or any part thereof and shall be secured by this Security Agreement.

Pay Encumbrances. The Lender may pay any Encumbrance encumbrance that may exist exists or be is threatened against the Collateral. In addition, the Lender may borrow money required for the maintenance, preservation or protection of the Collateral or for the carrying on of the business or undertaking of the Grantor Debtor and may grant further security interests in the Collateral in priority to the security interest created hereby as security for the money so borrowed. In every such case the amounts so paid or borrowed together with costs, charges and expenses incurred in connection therewith shall be deemed to have been advanced to the Grantor Debtor by the Lender, shall become part of the LiabilitiesObligations, shall bear interest at the highest rate per annum charged by the Lender on the Liabilities Obligations or any part thereof and shall be secured by this Security Agreement.