Performance and Reimbursement. If Borrower fails to perform or comply with any of its agreements contained herein, Lender shall have the right, but shall not be obligated, to effect such performance or compliance, and the amount of any out-of-pocket expenses and other reasonable expenses of Lender thereby incurred, together with interest thereon at the Default Rate, shall be due and payable by Borrower upon demand. (b)
Appears in 3 contracts
Samples: Equipment Loan and Security Agreement (Akerna Corp.), Amended and Restated Equipment Loan and Security Agreement (Akerna Corp.), Loan and Security Agreement (EV Transportation, Inc.)
Performance and Reimbursement. If Borrower fails to perform or comply with any of its agreements contained herein, Lender shall have the right, but shall not be obligated, to effect such performance or compliance, and the amount of any out-of-pocket expenses and other reasonable expenses of Lender thereby incurred, together with interest thereon at the Default Rate, shall be due and payable by Borrower upon demand. (b).
Appears in 2 contracts
Samples: Loan and Security Agreement (Ameramex International Inc), Loan and Security Agreement (Primoris Services Corp)
