Common use of Payments by Agent Clause in Contracts

Payments by Agent. Should any amount required to be paid under any Loan Document be unpaid beyond any applicable cure period, such amount may be paid by Agent, for the account of Lenders, which payment shall be deemed a request for an Advance under the Revolving Facility as of the date such payment is due, and Borrower irrevocably authorizes disbursement of any such funds to Agent, for the benefit of Lenders, by way of direct payment of the relevant amount, interest or Obligations, without necessity of any demand in accordance with Section 2.9 whether or not a Default or Event of Default has occurred or is continuing. No payment or prepayment of any amount by Agent, Lenders or any other Person shall entitle any Person to be subrogated to the rights of Agent and/or Lenders under any Loan Document unless and until the Obligations have been fully performed and paid indefeasibly in cash and this Agreement has been terminated. Any sums expended or amounts paid by Agent and/or Lenders as a result of Borrower's or any Guarantor's, if any, failure to pay, perform or comply with any Loan Document or any of the Obligations may be charged to Borrower's account as an Advance under the Revolving Facility and added to the Obligations.

Payments by Agent. Should any amount required to be paid under any Loan Document be unpaid beyond any applicable cure period, such amount may be paid by Agent, for the account of Lenders, which payment shall be deemed a request for an Advance under the Revolving Facility as of the date such payment is due, and Borrower Borrowers irrevocably authorizes authorize disbursement of any such funds to Agent, for the benefit of Lenders, by way of direct payment of the relevant amount, interest or Obligations, without necessity of any demand in accordance with Section 2.9 whether or not a Default or Event of Default has occurred or is continuing. No payment or prepayment of any amount by Agent, Lenders or any other Person shall entitle any Person to be subrogated to the rights of Agent and/or Lenders under any Loan Document unless and until the Obligations have been fully performed and paid indefeasibly in cash and this Agreement has been terminated. Any sums expended or amounts paid by Agent and/or Lenders as a result of any Borrower's or any Guarantor's, if any, 's failure to pay, perform or comply with any Loan Document or any of the Obligations may be charged to such Borrower's account as an Advance under the Revolving Facility and added to the Obligations.

Payments by Agent. Should any amount required to be paid under any Loan Document be unpaid beyond any applicable cure period, such amount may be paid by Agent, for the account of Lenders, which payment shall be deemed a request for an Advance under the Revolving Facility as of the date such payment is due, and Borrower irrevocably authorizes disbursement of any such funds to Agent, for the benefit of Lenders, by way of direct payment of the relevant amount, interest or Obligations, Obligations without necessity of any demand in accordance with Section 2.9 whether or not a Default or an Event of Default has occurred or is continuing. Agent shall provide Borrower with prompt notice of any such Advance provided that the failure of Agent to do so shall not provide the basis of any claim against, or result in any liability to, Agent. No payment or prepayment of any amount by Agent, Lenders or any other Person shall entitle any Person to be subrogated to the rights of Agent and/or Lenders under any Loan Document unless and until the Obligations have been fully performed and indefeasibly paid indefeasibly in full in cash and this Agreement has been terminated. Any sums expended or amounts paid by Agent and/or Lenders as a result of Borrowerany Credit Party's or any Guarantor's, if any, failure to pay, perform or comply with any Loan Document or any of the Obligations Obligations, as applicable, may be charged to Borrower's account as an Advance under the Revolving Facility and added to the Obligations.