Performance by Collateral Agent of Borrower's Obligations. If the Borrower fails to perform or comply with any of its agreements contained herein, the Collateral Agent, at its option, but without any obligation so to do, may perform or comply, or otherwise cause performance or compliance, with such agreement (with, if no Default or Event of Default shall have occurred and be continuing, notice to the Borrower).
Appears in 2 contracts
Samples: Senior Secured Credit Agreement (Metris Companies Inc), Senior Secured Credit Agreement (Metris Companies Inc)
Performance by Collateral Agent of Borrower's Obligations. If the Borrower fails to perform or comply with any of its agreements contained herein, herein and the Collateral Agent, at its optionas provided for by the terms of this Security Agreement, but without any obligation so to do, may shall itself perform or comply, or otherwise cause performance or compliance, with such agreement (withagreement, if no Default the expenses of the Collateral Agent incurred in connection with such performance or Event of Default compliance shall have occurred and be continuing, notice payable by the Borrower to the Borrower)Collateral Agent on demand and shall constitute Obligations secured hereby.
Appears in 2 contracts
Samples: Security Agreement (Intellinetics, Inc.), Security Agreement (Bridgeline Digital, Inc.)
