Common use of Payment of Charges and Claims Clause in Contracts

Payment of Charges and Claims. If Borrower Group, at any time or times hereafter, shall fail to pay the Charges when due or promptly obtain the discharge of such Charges or of any Lien asserted against the Collateral, Lender may, without waiving or releasing any obligation or liability of Borrower Group hereunder or any Event of Default, in its sole discretion, at any time or times thereafter, make such payment, or any part thereof, or obtain such discharge and take any other action with respect thereto which Lender deems advisable. All sums so paid by Lender and any expenses, including reasonable attorneys’ and paralegals’ fees, court costs, expenses and other charges relating thereto, shall be payable, upon demand, by Borrower Group to Lender and shall be additional Indebtedness hereunder secured by the Collateral.

Appears in 2 contracts

Samples: Credit and Security Agreement (Unilens Vision Inc), Credit and Security Agreement (Unilens Vision Inc)

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Payment of Charges and Claims. If Borrower Group, an Obligor at any time or times hereafter, shall fail to pay the Charges when due or promptly obtain the discharge of such Charges or of any Lien asserted against the Collateral, Lender the Bank may, without waiving or releasing any obligation or liability of Borrower Group hereunder the Obligors or any Event of Default, in its sole discretion, at any time or times thereafter, make such payment, or any part thereof, or obtain such discharge and take any other action with respect thereto which Lender the Bank deems advisable. All sums so paid by Lender the Bank hereunder and any expenses, including reasonable attorneys’ and paralegals’ ' fees, court costs, expenses and other charges relating thereto, shall be payable, upon demand, by Borrower Group the Borrowers to Lender the Bank and shall be additional Indebtedness Bank Debt hereunder secured by the Collateral.

Appears in 1 contract

Samples: Credit and Security Agreement (Morgan Group Inc)

Payment of Charges and Claims. If Borrower GroupBorrower, at any time or times hereafter, shall fail to pay the Charges when due or promptly obtain the discharge of such Charges or of any Lien asserted against the Collateral, Lender may, without waiving or releasing any obligation or liability of Borrower Group hereunder or any Event of Default, in its sole discretion, at any time or times thereafter, make such payment, or any part thereof, or obtain such discharge and take any other action with respect thereto which Lender deems advisable. All sums so paid by Lender and any expenses, including reasonable attorneys’ and paralegals’ fees, court costs, expenses and other charges relating thereto, shall be payable, upon demand, by Borrower Group to Lender and shall be additional Indebtedness hereunder secured by the Collateral.

Appears in 1 contract

Samples: Credit and Security Agreement (Unilens Vision Inc)

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Payment of Charges and Claims. If Borrower Group, at any time or times hereafter, shall fail to pay the Charges when due or promptly obtain the discharge of such Charges or of any Lien asserted against the Collateral, Lender Bank may, without waiving or releasing any obligation or liability of Borrower Group hereunder or any Event of Default, in its sole discretion, at any time or times thereafter, make such payment, or any part thereof, or obtain such discharge and take any other action with respect thereto which Lender Bank deems advisable. All sums so paid by Lender Bank hereunder and any expenses, including reasonable attorneys’ and paralegals’ ' fees, court costs, expenses and other charges relating thereto, shall be payable, upon demand, by Borrower Group to Lender Bank and shall be additional Indebtedness Bank Debt hereunder secured by the Collateral.

Appears in 1 contract

Samples: Credit and Security Agreement (Technical Consumer Products Inc)

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