Common use of Performance by Banks Clause in Contracts

Performance by Banks. Should Company fail to perform any covenant, duty or agreement contained herein or in any of the Loan Papers, Administrative Agent, either Agent or Banks may, at their option, perform or attempt to perform such covenant, duty or agreement on behalf of Company. In such event, Company shall, at the request of Administrative Agent or Banks, promptly pay any amount expended by Administrative Agent or Banks in such performance or attempted performance to Administrative Agent at its principal office in New York, New York, together with interest thereon at the highest lawful rate from the date of such expenditure until paid. Notwithstanding the foregoing, it is expressly understood that neither Banks nor Administrative Agent assume any liability or responsibility for the performance of any duties of Company hereunder or under any of the Loan Papers or other control over the management and affairs of Company.

Performance by Banks. Should Company fail to perform any -------------------- covenant, duty or agreement contained herein or in any of the Loan Papers, Administrative Agent, either Agent or Banks may, at their option, perform or attempt to perform such covenant, duty or agreement on behalf of Company. In such event, Company shall, at the request of Administrative Agent or Banks, promptly pay any amount expended by Administrative Agent or Banks in such performance or attempted performance to Administrative Agent at its principal office in New York, New York, together with interest thereon at the highest lawful rate from the date of such expenditure until paid. Notwithstanding the foregoing, it is expressly understood that neither Banks nor Administrative Agent assume any liability or responsibility for the performance of any duties of Company hereunder or under any of the Loan Papers or other control over the management and affairs of Company.

Performance by Banks. Should Company fail to perform any covenant, -------------------- duty or agreement contained herein or in any of the Loan Papers, Administrative Agent, either Agent or Banks may, at their option, perform or attempt to perform such covenant, duty or agreement on behalf of Company. In such event, Company shall, at the request of Administrative Agent or Banks, promptly pay any amount expended by Administrative Agent or Banks in such performance or attempted performance to Administrative Agent at its principal office in New York, New York, together with interest thereon at the highest lawful rate from the date of such expenditure until paid. Notwithstanding the foregoing, it is expressly understood that neither Banks nor Administrative Agent assume any liability or responsibility for the performance of any duties of Company hereunder or under any of the Loan Papers or other control over the management and affairs of Company.