Common use of Payments by Lender Clause in Contracts

Payments by Lender. Should any amount required to be paid under any Loan Document be unpaid, such amount may be paid by Lender, 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 Lender by way of direct payment of the relevant amount, interest or Obligations. No payment or prepayment of any amount by Lender or any other Person shall entitle any Person to be subrogated to the rights of Lender under any Loan Document unless and until the Obligations have been fully performed and paid irrevocably in cash and this Agreement has been terminated. Any sums expended by Lender as a result of any Borrower’s or any Guarantor’s 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.

Appears in 7 contracts

Samples: Loan and Security Agreement (Access Worldwide Communications Inc), Revolving Credit and Security Agreement (NationsHealth, Inc.), Loan and Security Agreement (NationsHealth, Inc.)

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Payments by Lender. Should If the Borrower fails to make any amount payment required to be paid under any Loan Document be unpaidas and when due and within any applicable grace period, Lender may make such amount may be paid by Lenderpayment, which payment shall be deemed a request for an Advance under the Revolving Facility as of the date such payment is duedue notwithstanding the Availability, and the Borrower irrevocably authorizes disbursement of any such funds to Lender by way of direct payment of the relevant amount, interest or Obligations. No payment or prepayment of any amount by Lender or any other Person shall entitle any Person to be subrogated to the rights of Lender under any Loan Document unless and until all of the Obligations have been fully performed and paid irrevocably Paid in cash Full and this Agreement has been terminated. Any sums expended by Lender in its Permitted Discretion as a result of any Borrower’s or any Guarantor’s 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 ObligationsFacility.

Appears in 6 contracts

Samples: Revolving Credit and Security Agreement (Neogenomics Inc), Revolving Credit and Security Agreement (Neogenomics Inc), Revolving Credit and Security Agreement (Neogenomics Inc)

Payments by Lender. Should any amount required to be paid under any Loan Document be unpaid, such amount may be paid by Lender, 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 Lender by way of direct payment of the relevant amount, interest or Obligations. No payment or prepayment of any amount by Lender or any other Person shall entitle any Person to be subrogated to the rights of Lender under any Loan Document unless and until the Obligations have been fully performed and paid irrevocably in cash and this Agreement has been terminated. Any sums expended by Lender as a result of any Borrower’s 's or any Guarantor’s 's failure to pay, perform or comply with any Loan Document or any of the Obligations may be charged to Borrower’s 's account as an Advance under the Revolving Facility and added to the Obligations.

Appears in 6 contracts

Samples: Revolving Credit and Security Agreement (Millstream Acquisition Corp), Credit and Security Agreement (Millstream Acquisition Corp), Credit and Security Agreement (Synavant Inc)

Payments by Lender. Should any amount required to be paid under any Loan Document be unpaidremain unpaid after it is due and payable and after the expiration of any cure period, if applicable, such amount may be paid by Lender, 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 disbursements of any such funds to Lender by way of direct payment of the relevant amount, interest or Obligations. No payment or prepayment of any amount by Lender or any other Person shall entitle any Person to be subrogated to the rights of Lender under any Loan Document unless and until the Obligations have been fully performed and paid irrevocably in cash and this Agreement has been terminated. Any sums expended by Lender as a result of any Borrower’s or any Guarantor’s 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 ObligationsObligations and increase the principal amount of the Revolving Loans outstanding hereunder.

Appears in 4 contracts

Samples: Credit and Security Agreement (ALKALINE WATER Co INC), Credit and Security Agreement (TRANS LUX Corp), Credit and Security Agreement (Hooper Holmes Inc)

Payments by Lender. Should If Borrower fails to make any amount payment required to be paid under any Loan Document be unpaidas and when due and within any applicable grace period, Lender may make such amount may be paid by Lenderpayment, 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 Lender by way of direct payment of the relevant amount, interest or Obligations. No payment or prepayment of any amount by Lender or any other Person shall entitle any Person to be subrogated to the rights of Lender under any Loan Document unless and until all of the Obligations have been indefeasibly paid in full in cash and fully performed and paid irrevocably in cash and this Agreement has been terminated. Any sums expended by Lender as a result of any Borrower’s or any Guarantor’s 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 ObligationsFacility.

Appears in 2 contracts

Samples: Loan and Security Agreement (Sweetgreen, Inc.), Loan and Security Agreement (Sweetgreen, Inc.)

Payments by Lender. Should any amount required to be paid under any Loan Document be unpaid, such amount may be paid by Lender, 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 Lender by way of direct payment of the relevant amount, interest or Obligations. No payment or prepayment of any amount by Lender or any other Person shall entitle any Person to be subrogated to the rights of Lender under any Loan Document unless and until the Obligations have been fully performed and paid irrevocably in cash and this Agreement has been terminated. Any sums expended by Lender as a result of any Borrower’s 's or any Guarantor’s 's failure to pay, perform or comply with any Loan Document or any of the Obligations may be charged to Borrower’s 's account as an Advance under the Revolving Facility and added to the Obligations.

Appears in 2 contracts

Samples: Loan and Security Agreement (Coast Dental Services Inc), Credit and Security Agreement (Western Express Holdings, Inc.)

Payments by Lender. Should any amount required to be paid under any Loan Document be unpaid, such amount may be paid by Lender, 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 Lender by way of direct payment of the relevant amount, interest or Obligations. No payment or prepayment of any amount by Lender or any other Person shall entitle any Person to be subrogated to the rights of Lender under any Loan Document unless and until the Obligations have been fully performed and paid irrevocably in cash and this Agreement has been terminated. Any sums expended by Lender as a result of any Borrower’s or any Guarantor’s 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.

Appears in 2 contracts

Samples: Credit and Security Agreement (Ventures National Inc), Revolving Credit and Security Agreement (Rita Medical Systems Inc)

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Payments by Lender. Should any amount required to be paid under any Loan Document be unpaid, such amount may be paid by Lender, 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 Lender by way of direct payment of the relevant amount, interest or Obligations. No payment or prepayment of any amount by Lender or any other Person shall entitle any Person to be subrogated to the rights of Lender under any Loan Document unless and until the Obligations have been fully performed and paid irrevocably in cash and this Agreement has been terminated. Any sums expended by Lender as a result of any Borrower’s Obligor's or any Guarantor’s 's failure to pay, perform or comply with any Loan Document or any of the Obligations may be charged to Borrower’s 's account as an Advance under the Revolving Facility and added to the Obligations.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Sunset Brands Inc)

Payments by Lender. Should any amount required to be paid under any Loan Document be unpaidunpaid on the date due, such amount may be paid by Lender, 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 Lender by way of direct payment of the relevant amount, interest or Obligations. No payment or prepayment of any amount by Lender or any other Person shall entitle any Person to be subrogated to the rights of Lender under any Loan Document unless and until the Obligations have been fully performed and paid irrevocably in cash and this Agreement has been terminated. Any sums actually expended by Lender as a result of any Borrower’s or any Guarantor’s 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.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Boston Biomedica Inc)

Payments by Lender. Should any amount required to be paid under any Loan Document be unpaid, such amount may be paid by Lender, 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 Lender by way of direct payment of the relevant amount, interest or Obligations. No payment or prepayment of any amount by Lender or any other Person shall entitle any Person to be subrogated to the rights of Lender under any Loan Document unless and until the Obligations have been fully performed and paid irrevocably in cash and this Agreement has been terminated. Any sums expended by Lender as a result of any Borrower’s or any Guarantor’s 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.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Women First Healthcare Inc)

Payments by Lender. Should any amount required to be paid under any Loan Document be unpaid, such amount may be paid by Lender, 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 Lender by way of direct payment of the relevant amount, interest or Obligations. No payment or prepayment of any amount by Lender or any other Person shall entitle any Person to be subrogated to the rights of Lender under any Loan Document unless and until the Obligations have been fully performed and paid irrevocably in cash and this Agreement has been terminated. Any sums expended by Lender as a result of any Borrower’s or any Guarantor’s 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.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Derma Sciences, Inc.)

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