Payment of Obligations and Expenses. Borrower will pay and discharge all of its indebtedness, obligations and expenses promptly in accordance with normal terms and practices of its business, before the same shall become delinquent, as well as all lawful claims for labor, materials and supplies which otherwise, if unpaid, might become a lien or charge upon its properties or assets or any part thereof. Borrower shall not be required to pay any obligation so long as Borrower shall contest, in good faith and at its own cost and expense, the amount or validity thereof, in an appropriate manner or by appropriate proceedings which shall operate during the pendency thereof to prevent the collection of or other realization upon the obligations so contested, provided that no such contest shall subject Lender to the risk of any liability. Borrower shall give Lender prompt written notice of any such contest.
Payment of Obligations and Expenses. (a) Borrower unconditionally and irrevocably covenants that it will promptly pay the principal of, interest on and any other amount due on the Term Note and the other Obligations in the amounts, on the dates and in the manner provided herein, in the Term Note, and each other Loan Document evidencing the Obligations.
(b) Borrower shall promptly pay upon demand all of the following documented reasonable out-of-pockets costs, fees and expenses paid or incurred by Lender (including those incurred under Section 6) (including, in following each case, the documented reasonable out-of-pocket fees and expenses of Lender’s outside counsel) in connection with (i) the negotiation, preparation, delivery and execution of any Loan Document; (ii) all due diligence, closing, corporate due diligence, third-party expenses, surveys (if required), appraisals (if required), title insurance (if required), environmental surveys, Collateral Examinations, and such other related due diligence and closing costs and expenses; provided that the costs, fees and expenses described in sub clauses (i) and (ii) shall not exceed $250,000 in the aggregate; (iii) any post-closing costs (including filing fees, recording costs and lien searches), (iv) any amendments, waivers, or consents in respect of the Loan Documents after the Closing Date, and (v) the negotiation, workout, or restructure under the Loan Documents, the enforcement of the Loan Documents or the exercise of any rights and remedies arising under the Loan Documents, and any actions taken in connection with any Debtor Relief Laws, in each foregoing case, all of which shall be a part of the Obligations and shall accrue interest, if not paid upon demand, at the Default Rate until repaid.
(c) Lender may, but shall not be obligated to, advance funds (or otherwise pay the costs) which Lender, in its sole discretion, determines are necessary or helpful to preserve any Collateral, any Lien in favor of Lender, or any claim, right, or interest beneficial to Lender or its rights under this Agreement or any other Loan Document. All such funds advanced or costs paid shall become part of the Obligations, shall be payable upon demand, and shall accrue interest at the Default Rate from the date of such demand until the date paid.
Payment of Obligations and Expenses. Pay and discharge all of its indebtedness, obligations and expenses promptly in accordance with normal terms and practices of its business, before the same shall become in default, as well as all lawful claims for labor, materials and supplies which otherwise, if unpaid, might become a lien or charge upon its properties, assets or any part thereof provided, however, Borrower shall be entitled to contest such indebtedness, obligations and expenses so long as there is no material risk of the lien or charge upon its properties, or the Collateral.
Payment of Obligations and Expenses. 1.1. The parties agree that the payment of all amounts due under the Debentures and all expenses related to such Transaction Documents shall be shared in proportion to the amount owed to each Creditor pursuant to their Debenture. To the extent that any party receives a Debenture payment in excess of the payment amount due to such party pursuant to such party's Debenture, the other parties shall immediately be notified and such excess amounts shall be paid to such parties on a pro-rata basis.
Payment of Obligations and Expenses. Borrower will pay --------------------------------------- and discharge all of its indebtedness, obligations and expenses promptly in accordance with normal terms and practices of its business, before the same shall become delinquent, as well as all lawful claims for labor, materials and supplies which otherwise, if unpaid, might become a lien or charge upon its properties or assets or any part thereof. Borrower will not be required to pay any obligation so long as Borrower shall contest, in good faith and at its own cost and expense, the amount or validity thereof, in an appropriate manner or by appropriate proceedings which shall operate during the pendency thereof to prevent the collection of or other realization upon the obligatio ns so contested, provided that no such contest shall subject Lender to the risk of any liability. Borrower will give Lender prompt written notice of any such contest.
Payment of Obligations and Expenses. The Borrower shall, and shall cause each other Credit Party to, pay when due all of its indebtedness, obligations and expenses with respect to the Properties. Each Credit Party will not be required to pay any obligation so long as it shall contest, in good faith and at its own cost and expense, the amount or the validity thereof in an appropriate manner or by appropriate proceedings which shall operate during the pendency thereof to prevent the collection of or other realization upon the obligations so contested, provided that no such contest shall subject the Lender to the risk of any liability and so long as such Credit Party's title to the Properties is not materially adversely affected, its use of such Properties in the ordinary course of its business is not materially interfered with and adequate reserves with respect thereto have been set aside on such Credit Party's books in accordance with GAAP. Each Borrower will give Lender prompt written notice of any such contest.
