Performance by Lenders. Following an Event of Default, the Administrative Agent without the necessity of prior notice to or demand upon the Borrowers and without waiving or releasing any of the Obligations or any Event of Default, may (but shall be under no obligation to) at any time thereafter make such payment or perform such act for the account and at the expense of the Borrowers, and may enter upon the premises of the Borrower for that purpose and take all such action thereon as the Administrative Agent may consider necessary or appropriate for such purpose. The Administrative Agent will give the Borrowers notice, at least subsequently, of any such performance by the Administrative Agent. All sums so paid or advanced by the Administrative Agent and all costs and expenses (including, without limitation, reasonable attorneys' fees and expenses) incurred in connection therewith (the "Expense Payments") together with interest thereon from the date of payment, advance or incurring until paid in full at the Post-Default Rate shall be paid by the Borrowers to the Administrative Agent on demand and shall constitute and become a part of the Obligations.
Performance by Lenders. Following an Event of Default, the Agent without the necessity of prior notice to or demand upon the Borrower and without waiving or releasing any of the Obligations or any Event of Default, may (but shall be under no obligation to) at any time thereafter make such payment or perform such act for the account and at the expense of the Borrower, and may enter upon the premises of the Borrower for that purpose and take all such action thereon as the Agent may consider necessary or appropriate for such purpose. The Agent will give the Borrower notice at least subsequently of any such performance by the Agent. All sums so paid or advanced by the Agent and all costs and expenses (including, without limitation, reasonable attorneys' fees and expenses) incurred in connection therewith (the "Expense Payments") together with interest thereon from the date of payment, advance or incurring until paid in full at the Post-Default Rate shall be paid by the Borrower to the Agent on demand and shall constitute and become a part of the Obligations and be secured by the Deed of Trust. For this purpose, the Borrower hereby constitutes and appoints the Lenders, or the Agent on behalf of the Lenders, its true and lawful attorney-in-fact with full power of substitution to complete work on any Eligible Project in the name of the Borrower, and hereby empowers said attorney or attorneys as follows:
(a) To use any funds of the Borrower including any balance which may be held in escrow and any funds which may remain un-advanced under any of the Loan for the purpose of completing the development of any of the Land and the construction of any of the Improvements, whether or not in the manner called for in the Plans and Specifications;
(b) To make such additions and changes and corrections to any of the Plans and Specifications which shall be necessary or desirable in the judgment of the Agent to complete the development of any of the Land and the construction of any of the Improvements;
(c) To employ such contractors, subcontractors, agents, architects and inspectors as shall be necessary or desirable for said purpose;
(d) To pay, settle or compromise all existing bills and claims which are or may be liens against any of the Property, or may be necessary or desirable for the completion of the work or the clearance of title to any of the Property;
(e) To execute all applications and certificates which may be required in the name of the Borrower; and
(f) To do any and every act with resp...
Performance by Lenders. If either Obligee fails to perform any of their respective obligations under the Operative Documents in a timely fashion, each Lender shall be entitled, but not obliged, to perform such obligation at the expense of such Obligee and without waiving any rights they may have with respect to such breach.
Performance by Lenders. If Borrower shall default in the payment, performance or observance of any covenant, term or condition of this Agreement, which default is not cured within the applicable cure period, then Lenders may, at Lender's option, pay, perform or observe the same, and all payments made or costs or expenses incurred by Lenders in connection therewith (including but not limited to reasonable attorney's fees), with interest thereon at the highest default rate provided in the Notes (if none, then at the maximum rate from time to time allowed by applicable law), shall be immediately repaid to Lenders by Borrower and shall constitute a part of the Obligations. Lenders shall be the sole judge of the necessity for any such actions and of the amounts to be paid.
Performance by Lenders. If any Loan Party will fail to perform any of its obligations under any covenant contained in any of the Documents, the Administrative Agent may on behalf of the Lenders, on the instructions of the Majority Lenders, perform any such covenant capable of being performed by it and, if any such covenant requires the payment or expenditure of money to fulfill such covenant, it may make such payment or expenditure with its own funds on behalf of the Lenders. If the Majority Lenders elect to effect such observance or performance, neither the Administrative Agent nor the Majority Lenders will be liable for any failure or deficiency, apart from fraud, in effecting such observance or performance, nor for the payment of any bills, invoices or accounts incurred or rendered in connection therewith. All reasonable amounts so paid by the Administrative Agent hereunder will be repaid by the Borrower on demand therefor, and will bear interest at the rate set forth in Section 7.9 from and including the date paid by the Administrative Agent herein and will be secured by the Security.
Performance by Lenders. (a) Should Borrower fail to perform any covenant, duty or agreement contained herein or in any of the other Loan Documents, Lenders may perform or attempt to perform such covenant, duty or agreement on behalf of Borrower. In such event, Borrower shall, at the request of Lenders, promptly pay any amount reasonably expended by Lenders in such performance or attempted performance to Lenders at their principal office in Dallas, Texas, together with interest thereon, at the interest rate specified in the Debenture, from the date of such expenditure until paid. Notwithstanding the foregoing, it is expressly understood that Lenders assume no liability or responsibility for the performance of any duties of Borrower hereunder or under any of the other Loan Documents.
Performance by Lenders. 79 SECTION 10.6 UNIFORM COMMERCIAL CODE AND OTHER REMEDIES....................80 SECTION 10.7 RECEIVER OR OTHER COURT ORDER.................................81 SECTION 10.8
Performance by Lenders. Following an Event of Default, the Agent without the necessity of prior notice to or demand upon any Borrower and without waiving or releasing any of the Obligations or any Event of Default, may (but shall be under no obligation to) at any time thereafter make such payment or perform such act for the account and at the expense of any Borrower, and may enter upon the premises of any Borrower for that purpose and take all such action thereon as the Agent may consider necessary or appropriate for such purpose. The Agent will give the Borrowers notice following any such performance by the Agent. All sums so paid or advanced by the Agent and all costs and expenses (including, without limitation, reasonable attorneys' fees and expenses) incurred in connection therewith (the "Expense Payments") together with interest thereon from the date of payment, advance or incurring until paid in full at the Post Default Rate shall be paid by the Borrowers to the Agent on demand and shall constitute and become a part of the Obligations and be secured by the Deed of Trust. For this purpose, each Borrower hereby constitutes and appoints the Lenders, or the Agent on behalf of the Lenders, its true and lawful
Performance by Lenders. 71 SECTION 10.6 UNIFORM COMMERCIAL CODE AND OTHER REMEDIES............................................72 SECTION 10.7 RECEIVER OR OTHER COURT ORDER.........................................................72 ARTICLE XI..............................................................................................73 MISCELLANEOUS...........................................................................................73
Performance by Lenders. Should any of the Obligors fail to perform any covenant, duty or agreement contained herein or in any of the Loan Documents, the Lenders may perform or attempt to perform such covenant, duty or agreement on its behalf. In such event, any of the Obligors so requested shall, at the request of any of the Lenders, promptly pay any amount reasonably expended by such Lenders in such performance or attempted performance, to such Lender at Agent's principal office in Boston, Massachusetts, together with interest thereon at the lesser of the default rate set forth in Section 4.11 hereof or the Maximum Rate, from the date of such expenditure until paid. Notwithstanding the foregoing, it is expressly understood that the Lenders assume no liability or responsibility for the performance of any duties of any of the Obligors hereunder or under any of the Loan Documents or other control over the management and affairs of any of the Obligors.
