Common use of Payments by Lenders Clause in Contracts

Payments by Lenders. If Borrower fails to (a) continuously maintain insurance as required by this Agreement or (b) pay any amount owed to any Person when due if Borrower’s failure to pay could reasonably be expected to have a Material Adverse Effect, Administrative Agent or Lenders can, but will not have any obligation to, (x) obtain insurance on behalf of Borrower as required by this Agreement if such coverage is available on commercially reasonable terms or (y) pay the unpaid amount(s) on behalf of Borrower. Administrative Agent or any Lender will give Borrower at least three Business Days notice prior to exercising its rights under the preceding sentence unless an Event of Default exists, in which case no prior notice will be necessary. Borrower will reimburse Administrative Agent or such Lender upon demand for all amounts (including reasonable attorneys fees) paid by Administrative Agent or such Lender to any Person under this Section 7.2. If Borrower fails to reimburse those amounts upon demand, the unreimbursed amounts will become part of the Obligations.

Payments by Lenders. If Borrower fails to (a) continuously maintain insurance as required by this Agreement or (b) pay any amount owed to any Person when due if Borrower’s failure to pay could reasonably be expected to have a Material Adverse Effect, Administrative Agent or Lenders can, but will not have any obligation to, (x) obtain insurance on behalf of Borrower as required by this Agreement if such coverage is available on commercially reasonable terms or (y) pay the unpaid amount(s) on behalf of Borrower. Administrative Agent or any Lender will give Borrower at least three Business Days Days’ notice prior to exercising its rights under the preceding sentence unless an Event of Default exists, in which case no prior notice will be necessary. Borrower will reimburse Administrative Agent or such Lender upon demand for all amounts (including reasonable attorneys attorney’s fees) paid by Administrative Agent or such Lender to any Person under this Section 7.2. If Borrower fails to reimburse those amounts upon demand, the unreimbursed amounts will become part of the Obligations.

Payments by Lenders. If Borrower fails to (a) continuously maintain insurance as required by this Agreement or (b) pay any amount owed to any Person when due if Borrower’s failure to pay could reasonably be expected to have a Material Adverse Effect, Administrative Agent or Lenders canmay, but will not have any obligation to, (x) obtain insurance on behalf of Borrower as required by this Agreement if such coverage is available on commercially reasonable terms or (y) pay the unpaid amount(s) on behalf of Borrower. Administrative Agent or any Lender will give Borrower at least three Business Days Days’ notice prior to exercising its rights under the preceding sentence unless an Event of Default exists, in which case no prior notice will be necessary. Borrower will reimburse Administrative Agent or such Lender upon demand for all amounts (including reasonable attorneys fees) paid by Administrative Agent or such Lender to any Person under this Section 7.2. If Borrower fails to reimburse those amounts upon demand, the unreimbursed amounts will become part of the Obligations.