Common use of Performance by Agent Clause in Contracts

Performance by Agent. If the Borrower shall fail to perform any covenant, duty or agreement contained in any of the Loan Documents, the Agent may, after notice to the Borrower, perform or attempt to perform such covenant, duty or agreement on behalf of the Borrower after the expiration of any cure or grace periods set forth herein. In such event, the Borrower shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent in such performance or attempted performance to the Agent, together with interest thereon at the applicable Post-Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, neither the Agent nor any Lender shall have any liability or responsibility whatsoever for the performance of any obligation of the Borrower under this Agreement or any other Loan Document.

Appears in 17 contracts

Samples: Credit Agreement (Morgans Hotel Group Co.), Credit Agreement (DiamondRock Hospitality Co), Credit Agreement (Kite Realty Group Trust)

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Performance by Agent. If the Borrower any Loan Party shall fail to perform any covenant, duty or agreement contained in any of the Loan Documents, the Agent may, after notice to the Borrower, perform or attempt to perform such covenant, duty or agreement on behalf of the Borrower Loan Party after the expiration of any cure or grace periods set forth herein. In such event, the Borrower shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent in such performance or attempted performance to the Agent, together with interest thereon at the applicable Post-Post Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, neither the Agent nor any Lender shall have any liability or responsibility whatsoever for the performance of any obligation of the Borrower Loan Parties under this Agreement or any other Loan Document.

Appears in 8 contracts

Samples: Term Loan Agreement (Kite Realty Group, L.P.), Term Loan Agreement (Kite Realty Group, L.P.), Credit Agreement (Kite Realty Group, L.P.)

Performance by Agent. If the Borrower shall fail to perform any covenant, duty or agreement contained in any of the Loan Documents, the Agent may, after notice to the Borrowerbut shall not be obligated to, perform or attempt to perform such covenant, duty or agreement on behalf of the Borrower after the expiration of any cure or grace periods set forth herein. In such event, the Borrower shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent in such performance or attempted performance to the Agent, together with interest thereon at the applicable Post-Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, neither the Agent nor any Lender shall have any liability or responsibility whatsoever for the performance of any obligation of the Borrower under this Agreement or any other Loan Document.

Appears in 5 contracts

Samples: Unsecured Credit Agreement (CBL & Associates Properties Inc), Unsecured Credit Agreement (CBL & Associates Properties Inc), Unsecured Term Loan Agreement (CBL & Associates Properties Inc)

Performance by Agent. If the any Borrower shall fail to perform any covenant, duty or agreement contained in any of the Loan Documents, the Agent may, after notice to the BorrowerBorrowers, perform or attempt to perform such covenant, duty or agreement on behalf of the such Borrower after the expiration of any cure or grace periods set forth herein. In such event, the Borrower Borrowers shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent in such performance or attempted performance to the Agent, together with interest thereon at the applicable Post-Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, neither the Agent nor any Lender shall have any liability or responsibility whatsoever for the performance of any obligation of the any Borrower under this Agreement or any other Loan Document.

Appears in 4 contracts

Samples: Credit Agreement (Lexington Realty Trust), Credit Agreement (Lexington Realty Trust), Credit Agreement (Lexington Corporate Properties Trust)

Performance by Agent. If the Borrower shall fail to perform any covenant, duty or agreement contained in any of the Loan Documents, the Agent may, after notice to the Borrower, perform or attempt to perform such covenant, duty or agreement on behalf of the Borrower after the expiration of any cure or grace periods set forth herein. In such event, the Borrower shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent in such performance or attempted performance to the Agent, together with interest thereon at the applicable Post-Post Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, neither the Agent nor any Lender shall have any liability or responsibility whatsoever for the performance of any obligation of the Borrower under this Agreement or any other Loan Document.

Appears in 4 contracts

Samples: Term Loan Agreement (Kite Realty Group Trust), Credit Agreement (Kite Realty Group Trust), Credit Agreement (Kite Realty Group Trust)

Performance by Agent. If the Borrower shall fail to perform any covenant, duty or agreement contained in any of the Loan Documents, the Agent may, after notice to the Borrower, may perform or attempt to perform such covenant, duty or agreement on behalf of the Borrower after the expiration of any cure or grace periods set forth herein. In such event, the Borrower shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent in such performance or attempted performance to the Agent, together with interest thereon at the applicable Post-highest rate of interest in effect upon the occurrence of an Event of Default Rate as specified in subsection 1.2(E) from the date of such expenditure until paid. Notwithstanding the foregoing, neither the it is expressly agreed that Agent nor any Lender shall not have any liability or responsibility whatsoever for the performance of any obligation of the Borrower under this Agreement or any other Loan Document.

Appears in 3 contracts

Samples: Credit Agreement (Acorn Products Inc), Credit Agreement (Sunsource Inc), Credit Agreement (Acorn Products Inc)

Performance by Agent. If the Borrower or any Guarantor shall fail to perform any covenant, duty or agreement contained in any of the Loan Documents, the Agent may, after notice to the Borrower, may perform or attempt to perform such covenant, duty or agreement on behalf of the Borrower or any Guarantor after the expiration of any cure or grace periods set forth herein. In such event, the Borrower shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent in such performance or attempted performance to the Agent, together with interest thereon at the applicable Post-Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, neither the Agent nor any Lender shall have any liability or responsibility whatsoever for the performance of any obligation of the Borrower under this Agreement or any other Loan Document.

Appears in 2 contracts

Samples: Mezzanine Credit Agreement (NNN Apartment REIT, Inc.), Credit Agreement (NNN Apartment REIT, Inc.)

Performance by Agent. If the Borrower shall fail to perform any covenant, duty or agreement contained in any of the Loan Documents, the Agent may, after notice to the Borrower, may perform or attempt to perform such covenant, duty or agreement on behalf of the Borrower after the expiration of any cure or grace periods set forth herein. In such event, the Borrower shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent in such performance or attempted performance to the Agent, together with interest thereon at the applicable Post-rate of interest in effect upon the occurrence of an Event of Default Rate as specified in subsection 1.2(E) from the date of such expenditure until paid. Notwithstanding the foregoing, neither the it is expressly agreed that Agent nor any Lender shall not have any liability or responsibility whatsoever for the performance of any obligation of the Borrower under this Agreement or any other Loan Document.

Appears in 1 contract

Samples: Credit Agreement (Global Imaging Systems Inc)

Performance by Agent. If the Borrower shall fail to perform any covenant, -------------------- duty or agreement contained in any of the Loan DocumentsDocuments during the occurrence of an Event of Default, the Agent may, after notice to the Borrower, may perform or attempt to perform such covenant, duty or agreement on behalf of the Borrower after the expiration of any cure or grace periods set forth hereinBorrower. In such event, the Borrower shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent in such performance or attempted performance to the Agent, together with interest thereon at the applicable Post-highest rate of interest in effect upon the occurrence of an Event of Default Rate as specified in subsection 1.2(D) from the date of such expenditure until paid. Notwithstanding the foregoing, neither the it is expressly agreed that Agent nor any Lender shall not have any liability or responsibility whatsoever for the performance of any obligation of the Borrower under this Agreement or any other Loan Document.

Appears in 1 contract

Samples: Credit Agreement (MCG Capital Corp)

Performance by Agent. If the Borrower Borrowers shall fail to perform any covenant, duty or agreement contained in any of the Loan Documents, the Agent may, after notice to the BorrowerBorrowers, perform or attempt to perform such covenant, duty or agreement on behalf of the Borrower Borrowers after the expiration of any cure or grace periods set forth herein. In such event, the Borrower Borrowers shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent in such performance or attempted performance to the Agent, together with interest thereon at the applicable Post-Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, neither the Agent nor any Lender shall have any liability or responsibility whatsoever for the performance of any obligation of the Borrower Borrowers under this Agreement or any other Loan Document.

Appears in 1 contract

Samples: Credit Agreement (Maguire Properties Inc)

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Performance by Agent. If the Borrower shall fail to perform any covenant, duty or agreement contained in any of the Loan Documents, the Agent may, after notice to the Borrower, perform or attempt to perform such covenant, duty or agreement on behalf of the such Borrower after the expiration of any cure or grace periods set forth herein. In such event, the Borrower shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent in such performance or attempted performance to the Agent, together with interest thereon at the applicable Post-Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, neither the Agent nor any Lender shall have any liability or responsibility whatsoever for the performance of any obligation of the Borrower under this Agreement or any other Loan Document.

Appears in 1 contract

Samples: Revolving Credit Agreement (TNP Strategic Retail Trust, Inc.)

Performance by Agent. If the Borrower shall fail to perform any covenant, duty or agreement contained in any of the Loan Documents, the Agent may, after notice to the Borrower, may perform or attempt to perform such covenant, duty or agreement on behalf of the Borrower after the expiration of any cure or grace periods set forth herein. In such event, the Borrower shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent in such performance or attempted performance to the Agent, 114 together with interest thereon at the applicable Post-highest rate of interest in effect upon the occurrence of an Event of Default Rate as specified in subsection 1.2(E) from the date of such expenditure until paid. Notwithstanding the foregoing, neither the it is expressly agreed that Agent nor any Lender shall not have any liability or responsibility whatsoever for the performance of any obligation of the Borrower under this Agreement or any other Loan Document.

Appears in 1 contract

Samples: Purchase Agreement (Team Communications Group Inc)

Performance by Agent. If the Borrower shall fail to perform any covenant, duty or agreement contained in any of the Loan Credit Documents, the Agent may, after notice to the Borrower, perform or attempt to perform such covenant, duty or agreement on behalf of the Borrower after the expiration of any cure or grace periods set forth herein. In such event, the Borrower shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent in such performance or attempted performance to the Agent, together with interest thereon at the applicable Post-Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, neither the Agent nor any Lender shall have any liability or responsibility whatsoever for the performance of any obligation of the Borrower under this Agreement or any other Loan Credit Document.

Appears in 1 contract

Samples: Credit Agreement (St Joe Co)

Performance by Agent. If the Borrower Loan Parties shall fail to perform any covenant, duty or agreement contained in any of the Loan Documents, the Agent may, after notice to the BorrowerLoan Parties, perform or attempt to perform such covenant, duty or agreement on behalf of the Borrower Loan Parties after the expiration of any cure or grace periods set forth herein. In such event, the Borrower Loan Parties shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent in such performance or attempted performance to the Agent, together with interest thereon at the applicable Post-Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, neither the Agent nor any Lender shall have any liability or responsibility whatsoever for the performance of any obligation of the Borrower Loan Parties under this Agreement or any other Loan Document.

Appears in 1 contract

Samples: Credit Agreement (Morgans Hotel Group Co.)

Performance by Agent. If the Borrower shall fail to perform any covenant, duty or agreement contained in any of the Loan Credit Documents, the Agent may, after notice to the Borrower, perform or attempt to perform such covenant, duty or agreement on behalf of the Borrower after the expiration of any cure or grace periods set forth herein. In such event, the Borrower shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent in such performance or attempted performance to the Agent, together with interest thereon at the applicable PostPast-Default Due Rate from the date of such expenditure until paid. Notwithstanding the foregoing, neither the Agent nor any Lender shall have any liability or responsibility whatsoever for the performance of any obligation of the Borrower under this Agreement or any other Loan Credit Document.

Appears in 1 contract

Samples: Credit Agreement (St Joe Co)

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