Common use of Payment of Charges and Claims Clause in Contracts

Payment of Charges and Claims. If the Debtors, at any ----------------------------- time or times hereafter, shall fail to pay charges in respect of the Intellectual Property Collateral when due or promptly obtain the discharge of such charges or of any lien, claim or encumbrance asserted against the Intellectual Property Collateral, the Agent Bank may, without waiving or releasing any obligation or liability of the Debtors hereunder or any Event of Default under any of the Loan Documents, 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 the Agent Bank reasonably deems advisable (provided that Agent Bank has first given Debtors notice of the proposed payment or action and Debtors have failed to make such payment or take such action within ten (10) Banking Business Days thereafter). All sums so paid by the Agent Bank and any expenses incurred by the Agent Bank on its behalf, including reasonable attorneys' fees, court costs, expenses and other charges relating thereto, shall be payable, upon demand, by the Debtors to the Agent Bank and shall be Secured Obligations secured by the Collateral under any of the Loan Documents, including, without limitation, the Intellectual Property Collateral, and shall bear interest, accruing from the date of such demand, at the Default Rate which is set forth in the Credit Agreement.

Payment of Charges and Claims. Pledgor shall within 30 days after Pledgor has actual knowledge thereof (i) pay all charges imposed by any governmental authority upon the Collateral, (ii) satisfy all material claims that have become due and payable and, under applicable law, have or may become Liens upon the Collateral, and (iii) discharge or cause to be discharged as a Lien of record by payment or filing of the bond required by applicable law or otherwise, any judgment, tax or other involuntary Lien filed or otherwise asserted against the Collateral. If the Debtors, at any ----------------------------- time or times hereafter, shall fail Pledgor fails to pay charges in respect of the Intellectual Property Collateral when due or promptly obtain the discharge of such charges or of any liencharge, claim or encumbrance asserted against the Intellectual Property CollateralLien required to be paid or discharged under this Section 4(c), the Agent Bank Pledgee may, but shall not be required to, at any time and from time to time, to the extent reasonably necessary to obtain or maintain the priority of the security interest created by this Pledge Agreement and without waiving or releasing any obligation or liability of the Debtors hereunder Pledgor under this Pledge Agreement or any Event other Loan Document, pay or obtain the discharge of Default under any of the Loan Documentssuch charge, claim or Lien or take such other action with respect thereto as Pledgee deems, 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 the Agent Bank reasonably deems advisable (provided that Agent Bank has first given Debtors notice of the proposed payment or action and Debtors have failed to make such payment or take such action within ten (10) Banking Business Days thereafter)advisable. All sums so paid by the Agent Bank and any expenses incurred by the Agent Bank on its behalf, including reasonable attorneys' fees, court costs, expenses and other charges relating thereto, Pledgor shall be payablereimburse Pledgee, upon demand, for any amounts expended by Pledgee in connection with the Debtors to the Agent Bank provisions of this Section 4(c), and all amounts expended by Pledgee hereunder shall be become Secured Obligations secured by the Collateral under any of the Loan Documents, including, without limitation, the Intellectual Property Collateral, and shall bear interest, accruing from the date of such demand, at the Default Rate which is set forth in the Credit Agreementhereunder.

Payment of Charges and Claims. Each Pledging Lender shall pay (a) all Charges imposed upon any Pledged Collateral, and (b) all claims that have become due and payable and, under Applicable Law, have or may become Liens upon any Pledged Collateral, in each case before any penalty shall be incurred with respect thereto; provided that, unless foreclosure, levy or similar proceedings shall have commenced, such Pledging Lender need not pay or discharge any such Charges or claims so long as the validity or amount thereof is being contested in good faith and by appropriate proceedings and so long as adequate reserves therefor have been established in accordance with GAAP. If the Debtors, at any ----------------------------- time or times hereafter, shall fail Pledging Lender fails to pay charges in respect of the Intellectual Property Collateral when due or promptly obtain the discharge of such charges or of any lienCharge, claim or encumbrance Lien required to be paid or discharged under this Section and asserted against the Intellectual Property any Pledged Collateral, such Pledging Lender shall so notify the Collateral Agent Bank and, regardless of whether such notice is given, the Collateral Agent may, at any time and from time to time, in its sole discretion and without waiving or releasing any obligation of such Pledging Lender under this Agreement or liability of the Debtors hereunder other Pari Passu Loan Documents or waiving any Event of Default under any of the Loan Documents, in its sole discretion, at any time or times thereafterDefault, make such payment, or any part thereof, or obtain such discharge and or take any such other action with respect thereto which the Agent Bank reasonably deems advisable (provided that Agent Bank has first given Debtors notice of the proposed payment or action and Debtors have failed to make such payment or take such action within ten (10) Banking Business Days thereafter). All sums so paid by the Agent Bank and any expenses incurred by the Agent Bank on its behalf, including reasonable attorneys' fees, court costs, expenses and other charges relating thereto, shall be payable, upon demand, by the Debtors to the Agent Bank and shall be Secured Obligations secured by as the Collateral under any of the Loan Documents, including, without limitation, the Intellectual Property Collateral, and shall bear interest, accruing from the date of such demand, at the Default Rate which is set forth in the Credit AgreementAgent deems advisable.