Common use of Performance by Secured Party of Pledgor's Obligations Clause in Contracts

Performance by Secured Party of Pledgor's Obligations. If ----------------------------------------------------- the Pledgor fails to perform or comply with any of its agreements contained herein and the Secured Party shall perform or comply, or otherwise cause performance or compliance, with such agreement, the expenses of the Secured Party incurred in connection with such performance or compliance, together with interest thereon at a rate per annum equal to the highest interest rate prescribed in the Credit Agreement, shall be payable by the Pledgor to the Secured Party on demand and shall constitute Obligations secured hereby.

Appears in 2 contracts

Samples: Credit and Term Loan Agreement (Guest Supply Inc), Security Agreement (Guest Supply Inc)

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Performance by Secured Party of Pledgor's Obligations. If ----------------------------------------------------- the an Event of Default has occurred and is continuing or if Pledgor fails to perform or comply with any of its agreements contained herein and the Secured Party itself shall perform or comply, or otherwise cause performance of or compliance, compliance with such agreement, the reasonable expenses of the Secured Party incurred in connection with such performance or complianceParty, together with interest thereon at a the rate per annum equal to the highest of interest rate prescribed provided in the Credit Agreement, shall be payable by the Pledgor to the Secured Party on demand and shall constitute Obligations secured herebyby this Agreement.

Appears in 2 contracts

Samples: Stock Pledge Agreement (Quanta Services Inc), Stock Pledge Agreement (Quanta Services Inc)

Performance by Secured Party of Pledgor's Obligations. If ----------------------------------------------------- the Pledgor fails to perform or comply with any of its agreements contained herein and the Secured Party itself shall perform or comply, or otherwise cause performance of or compliance, compliance with such agreement, the expenses of the Secured Party incurred in connection with such performance or complianceParty, together with interest thereon at a rate the maximum nonusurious per annum equal to the highest interest rate prescribed in the Credit Agreementpermitted by applicable law, shall be payable by the Pledgor to the Secured Party on demand and shall constitute Obligations secured herebyby this Agreement.

Appears in 2 contracts

Samples: Security Agreement Pledge (Westcliff Trust), Security Agreement Pledge (Eastwood Trust)

Performance by Secured Party of Pledgor's Obligations. If Pledgor ----------------------------------------------------- the Pledgor fails to perform or comply with any of its agreements contained herein and Secured Party, as provided for by the Secured Party terms of this Agreement, shall itself perform or comply, or otherwise cause performance or compliance, with such agreement, the reasonable expenses of the Secured Party incurred in connection with such performance or compliance, together with interest thereon at a the rate per annum equal to then in effect in respect of the highest interest rate prescribed in the Credit AgreementNotes, shall be payable by the Pledgor to the Secured Party on demand and shall constitute Secured Obligations secured herebyhereunder.

Appears in 1 contract

Samples: Security Agreement (Jayhawk Acceptance Corp)

Performance by Secured Party of Pledgor's Obligations. If ----------------------------------------------------- the Pledgor fails to perform or comply with any of its the agreements contained herein and the Secured Party itself shall perform or comply, or otherwise cause performance of or compliance, compliance with such agreement, the expenses of the Secured Party incurred in connection with such performance or complianceParty, together with interest thereon at a rate per annum equal to the highest interest rate prescribed Default Rate (as defined in the Credit Agreement, Convertible Note) shall be payable by the Pledgor to the Secured Party on demand and shall constitute Obligations secured herebyby this Agreement.

Appears in 1 contract

Samples: Pledge and Security Agreement (Petrosearch Energy Corp)

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Performance by Secured Party of Pledgor's Obligations. If ----------------------------------------------------- the Pledgor fails to perform or comply with any of its the agreements contained herein and the Secured Party itself shall perform or comply, or otherwise cause performance of or compliance, compliance with such agreement, the expenses of the Secured Party incurred in connection with such performance or complianceParty, together with interest thereon at a the rate of 12% per annum equal to the highest interest rate prescribed in the Credit Agreementannum, shall be payable by the Pledgor to the Secured Party on demand and shall constitute Obligations secured herebyby this Pledge Agreement.

Appears in 1 contract

Samples: Pledge Agreement (Petrosearch Corp)

Performance by Secured Party of Pledgor's Obligations. If ----------------------------------------------------- the an Event of Default has occurred and is continuing or if Pledgor fails to perform or comply with any of its agreements contained herein and the Secured Party itself shall perform or comply, or otherwise cause performance of or compliance, compliance with such agreement, the reasonable expenses of the Secured Party incurred in connection with such performance or complianceParty, together with interest thereon at a the rate per annum equal to the highest of interest rate prescribed provided in the Credit Note Purchase Agreement, shall be payable by the Pledgor to the Secured Party on demand and shall constitute Obligations secured herebyby this Agreement.

Appears in 1 contract

Samples: Stock Pledge Agreement (Boots & Coots International Well Control Inc)

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