Common use of Performance by Lender Clause in Contracts

Performance by Lender. In the event that Borrower shall at any time fail to duly and punctually pay, perform, observe or comply with any of its covenants and agreements hereunder or under the other Loan Documents, or if any Event of Default hereunder shall exist, then Lender may (but shall in no event be required to) make any such payment or perform any such term, provision, condition, covenant or agreement or cure any such Event of Default. Lender shall not take action under this Section 8.3 prior to the occurrence of an Event of Default unless in Lender's reasonable judgment, such action is necessary or appropriate in order to preserve the value of the collateral, to protect persons or property, or Borrower has abandoned the Property or any portion thereof. Lender shall not be obligated to continue any such action having commenced the same and may cease the same without notice to Borrower. Any amounts expended by Lender in connection with such action shall constitute additional advances hereunder, the payment of which is additional indebtedness, secured by the Loan Documents and shall become due and payable upon demand by Lender, with interest at the Default Rate from the date of disbursement thereof until fully paid. No further direction or authorization from Borrower shall be necessary for such disbursements. The execution of this Agreement by Borrower shall and hereby does constitute an irrevocable direction and authorization to Lender to so disburse such funds.

Performance by Lender. In the event that Borrower shall at any time --------------------- fail to duly and punctually pay, perform, observe or comply with any of its covenants and agreements hereunder or under the other Loan Documents, or if any Event of Default hereunder shall exist, then Lender may (but shall in no event be required to) make any such payment or perform any such term, provision, condition, covenant or agreement or cure any such Event of Default. Lender shall not take action under this Section 8.3 ------- 9.3 prior to the occurrence of an Event of Default unless in Lender's reasonable --- judgment, such action is necessary or appropriate in order to preserve the value of the collateral, to protect persons or property, or Borrower has abandoned the any Property or any portion thereof. Lender shall not be obligated to continue any such action having commenced the same and may cease the same without notice to Borrower. Any amounts expended by Lender in connection with such action shall constitute additional advances hereunder, the payment of which is additional indebtedness, secured by the Loan Documents and shall become due and payable upon demand by Lender, with interest at the Default Rate from the date of disbursement thereof until fully paid. No further direction or authorization from Borrower shall be necessary for such disbursements. The execution of this Agreement by Borrower shall and hereby does constitute an irrevocable direction and authorization to Lender to so disburse such funds.

Performance by Lender. In the event that any Borrower shall at any time fail to duly and punctually pay, perform, observe or comply with any of its covenants and agreements hereunder or under the other Loan Documents, or if any Event of Default hereunder shall exist, then Lender may (but shall in no event be required to) make any such payment or perform any such term, provision, condition, covenant or agreement or cure any such Event of Default. Lender shall not take action under this Section 8.3 8.2 prior to the occurrence of an Event of Default unless in Lender's reasonable judgment, such action is necessary or appropriate in order to preserve the value of the collateral, to protect persons or property, or any Borrower has abandoned the its Property or any portion thereof. Lender shall not be obligated to continue any such action having commenced the same and may cease the same without notice to BorrowerBorrowers. Any amounts expended by Lender in connection with such action shall constitute additional advances hereunder, hereunder the payment of which is additional indebtedness, secured by the Loan Documents and shall become due and payable upon demand by Lender, with interest at the Default Rate from the date of disbursement thereof until fully paid. No further direction or authorization from Borrower Borrowers shall be necessary for such disbursements. The execution of this Agreement by Borrower Borrowers shall and hereby does constitute an irrevocable direction and authorization to Lender to so disburse such funds.

Performance by Lender. In the event that any Borrower shall at any time fail to duly and punctually pay, perform, observe or comply with any of its covenants and agreements hereunder or under the other Loan Documents, or if any Event of Default hereunder shall exist, then Lender may (but shall in no event be required to) make any such payment or perform any such term, provision, condition, covenant or agreement or cure any such Event of Default. Lender shall not take action under this Section 8.3 8.2 prior to the occurrence of an Event of Default unless in Lender's reasonable judgment, such action is necessary or appropriate in order to preserve the value of the collateral, to protect persons or property, or any Borrower has abandoned the its Property or any portion thereof. Lender shall not be obligated to continue any such action having commenced the same and may cease the same without notice to BorrowerBorrowers. Any amounts expended by Lender in connection with such action shall constitute additional advances hereunder, the payment of which is additional indebtedness, secured by the Loan Documents and shall become due and payable upon demand by Lender, with interest at the Default Rate from the date of disbursement thereof until fully paid. No further direction or authorization from Borrower Borrowers shall be necessary for such disbursements. The execution of this Agreement by Borrower Borrowers shall and hereby does constitute an irrevocable direction and authorization to Lender to so disburse such funds.