Common use of Performance by Secured Party Clause in Contracts

Performance by Secured Party. If Debtor fails to perform any agreement or obligation provided herein, Secured Party may itself perform, or cause performance of, such agreement or obligation, and the expenses of Secured Party incurred in connection therewith shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor on demand.

Appears in 29 contracts

Samples: Security Agreement (Edible Garden AG Inc), Credit Agreement (American Electric Technologies Inc), Credit Agreement (Ascent Assurance Inc)

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Performance by Secured Party. If Debtor fails to perform any agreement or obligation provided contained herein, Secured Party may itself perform, or cause performance of, such agreement or obligation, and the expenses of Secured Party incurred in connection therewith shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor on demandunder Section 4.5.

Appears in 19 contracts

Samples: Security Agreement (Mad Catz Interactive Inc), Security Agreement (Mad Catz Interactive Inc), Security Agreement (Resaca Exploitation, Inc.)

Performance by Secured Party. If Debtor fails to perform any agreement or obligation provided contained herein, Secured Party may itself itself, at its option and in its sole discretion, perform, or cause performance of, such agreement or obligation, and the expenses of such Secured Party incurred in connection therewith shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor on demand; provided, however, that nothing herein shall impose any obligation of any kind whatsoever on Secured Party to perform any obligation or agreement of Debtor.

Appears in 10 contracts

Samples: Security Agreement, Security Agreement (Brain Scientific Inc.), Security Agreement (MAGELLAN GOLD Corp)

Performance by Secured Party. If Debtor fails to perform any agreement or obligation provided herein, Secured Party may itself perform, or cause performance of, such agreement or obligation, and the expenses of Secured Party incurred in connection therewith shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor on demand. Notwithstanding any other provision herein to the contrary, Secured Party does not have any duty to exercise or continue to exercise any of the foregoing rights and shall not be responsible for any failure to do so or for any delay in doing so.

Appears in 6 contracts

Samples: Pledge and Security Agreement, Unit Pledge Agreement (Desert Capital Reit Inc), Credit Agreement (Ascent Assurance Inc)

Performance by Secured Party. If Debtor fails to perform any agreement or obligation provided contained herein, Secured Party may itself perform, or cause performance of, such agreement or obligationagreement, and the expenses of Secured Party incurred in connection therewith shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor on demandunder Section 15.

Appears in 3 contracts

Samples: Term Loan Agreement (A&m Investment Associates 3 LLC), Stock Pledge and Account Agreement (A&m Investment Associates 3 LLC), Stock Pledge and Account Agreement (A&m Investment Associates 3 LLC)

Performance by Secured Party. If Debtor fails Debtors fail to perform any agreement or obligation provided contained herein, Secured Party may itself perform, or cause performance of, such agreement or obligation, and the reasonable expenses of Secured Party incurred in connection therewith shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor on demandDebtors under Section 4.4.

Appears in 3 contracts

Samples: Security Agreement (Tipperary Corp), Stock Pledge Agreement (Tipperary Corp), Security Agreement (Tipperary Corp)

Performance by Secured Party. If Debtor fails to perform ---------------------------- or comply with any agreement or obligation provided of its agreements contained herein, Secured Party may itself performmay, at its sole discretion, cause or attempt to cause performance of, or compliance with such agreement or obligation, and the expenses of Secured Party incurred in connection therewith Party, together with interest thereon at the maximum nonusurious per annum rate permitted by applicable law, shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor to Secured Party on demanddemand and shall constitute Obligations secured by this Agreement. Notwithstanding the foregoing, it is expressly agreed that Secured Party shall not have any liability or responsibility for the performance of any obligation of Debtor under this Agreement.

Appears in 2 contracts

Samples: Security Agreement (Pro Squared Inc), Security Agreement (Pro Squared Inc)

Performance by Secured Party. If Debtor fails to perform any agreement or obligation provided herein, Secured Party may itself perform, or cause performance of, such agreement or obligation, and the expenses of Secured Party incurred in connection therewith shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor on within ten (10) days of Secured Party’s written demand.

Appears in 2 contracts

Samples: Security Agreement (Lm Funding America, Inc.), Security Agreement (Lm Funding America, Inc.)

Performance by Secured Party. If Debtor fails to perform any agreement or obligation provided contained herein, any Secured Party may itself itself, at its option and in its sole discretion, perform, or cause performance of, such agreement or obligation, and the expenses of such Secured Party incurred in connection therewith shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor on demand; provided, however, that nothing herein shall impose any obligation of any kind whatsoever on any Secured Party to perform any obligation or agreement of Debtor.

Appears in 2 contracts

Samples: Security Agreement (Golden West Brewing Company, Inc.), Security Agreement (Golden West Brewing Company, Inc.)

Performance by Secured Party. If Debtor fails to perform any ---------------------------- agreement or obligation provided contained herein, Secured Party may itself perform, or cause performance of, such agreement or obligation, and the expenses of Secured Party incurred in connection therewith shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor on demandunder Section 4.5.

Appears in 2 contracts

Samples: Stock Pledge Agreement (St Mary Land & Exploration Co), Pledge Agreement (St Mary Land & Exploration Co)

Performance by Secured Party. If Debtor fails to perform or comply with any agreement or obligation provided of its agreements contained herein, Secured Party may itself performmay, at its sole discretion, cause or attempt to cause performance of, or compliance with such agreement or obligation, and the expenses of Secured Party incurred in connection therewith Party, together with interest thereon at the Default Rate, shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor to Secured Party on demanddemand and shall constitute Secured Obligations. Notwithstanding the foregoing, it is expressly agreed that Secured Party shall not have any liability or responsibility for the performance of any obligation of Debtor under this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Craftmade International Inc), Credit Agreement (Craftmade International Inc)

Performance by Secured Party. If Debtor fails to perform any agreement ---------------------------- or obligation provided herein, Secured Party may itself perform, or cause performance of, such agreement or obligation, and the expenses of Secured Party incurred in connection therewith shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor on demand.

Appears in 1 contract

Samples: Security Agreement (Us Home Systems Inc /Tx)

Performance by Secured Party. If Debtor fails to perform or comply with any agreement or obligation provided of its agreements contained herein, Secured Party may itself performmay, at its sole discretion, cause or attempt to cause performance of, or compliance with such agreement or obligation, and the expenses of Secured Party incurred in connection therewith Party, together with interest thereon at the Default Rate, shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor to Secured Party on demanddemand and shall constitute obligations secured by this Agreement. Notwithstanding the foregoing, it is expressly agreed that Secured Party shall not have any liability or responsibility for the performance of any obligation of Debtor under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Craftmade International Inc)

Performance by Secured Party. If Debtor fails to perform or comply with any agreement or obligation provided of its agreements contained herein, Secured Party may itself performmay, at its sole discretion, cause or attempt to cause performance of, or compliance with such agreement or obligation, and the expenses of Secured Party incurred Party, together with interest thereon at the Default Rate (as defined in connection therewith the Note), shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor to Secured Party on demanddemand and shall constitute Obligations secured by this Agreement. Notwithstanding the foregoing, it is expressly agreed that Secured Party shall not have any liability or responsibility for the performance of any obligation of Debtor under this Agreement.

Appears in 1 contract

Samples: Security Agreement (Remote Knowledge Inc)

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Performance by Secured Party. If Debtor fails to perform any agreement or obligation provided herein, Secured Party may itself perform, or cause performance of, such agreement or obligation, and the expenses of Secured Party incurred in connection therewith shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor on demand; provided, however, that Secured Party shall not exercise any such powers prior to the occurrence of an Event of Default and shall only exercise such powers during the continuance of an Event of Default.

Appears in 1 contract

Samples: Security Agreement (Ronco Corp)

Performance by Secured Party. If Debtor Borrower fails to perform any agreement or obligation provided herein, Secured Party may itself perform, or cause performance of, such agreement or obligation, and the expenses of Secured Party incurred in connection therewith shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor Borrower on demand.

Appears in 1 contract

Samples: Security Agreement (Canmax Inc /Wy/)

Performance by Secured Party. If Debtor fails to perform any agreement ---------------------------- or obligation provided contained herein, Secured Party may itself perform, or cause performance of, of such agreement or obligation, and the expenses of Secured Party incurred in connection therewith shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor on demandunder Section 4.5.

Appears in 1 contract

Samples: Pledge Agreement (Aviva Petroleum Inc /Tx/)

Performance by Secured Party. If any Debtor fails to perform any ---------------------------- agreement or obligation provided contained herein, Secured Party may itself perform, or cause performance of, such agreement or obligation, and the expenses of Secured Party incurred in connection therewith shall be a part of the Indebtedness, secured by the Collateral and payable by such Debtor on demandunder Section 4.5.

Appears in 1 contract

Samples: Security Agreement (St Mary Land & Exploration Co)

Performance by Secured Party. If Debtor fails to perform or comply with any agreement or obligation provided of its agreements contained herein, Secured Party may itself performmay, at its sole discretion, cause or attempt to cause performance of, or compliance with such agreement or obligation, and the reasonable expenses of Secured Party incurred Party, together with interest thereon at the Default Rate (as defined in connection therewith the Loan Agreement), shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor to Secured Party on demanddemand and shall constitute Obligations secured by this Agreement. Notwithstanding the foregoing, it is expressly agreed that Secured Party shall not have any liability or responsibility for the performance of any obligation of Debtor under this Agreement.

Appears in 1 contract

Samples: Security Agreement (Oyo Geospace Corp)

Performance by Secured Party. If Debtor fails to perform any agreement or obligation provided hereinin this Agreement, Secured Party may itself performhimself perform (but is not obligated to do so), or cause performance of, such agreement or obligation, and the expenses of Secured Party incurred in connection therewith shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor on demand.

Appears in 1 contract

Samples: Revolving Line of Credit Agreement (Dimus Partners Inc.)

Performance by Secured Party. If Debtor fails to perform or comply with any agreement or obligation provided of its agreements contained herein, Secured Party may itself performmay, at its sole discretion, cause or attempt to cause performance of, or compliance with such agreement or obligation, and the expenses of Secured Party incurred Party, together with interest thereon at the Default Rate (as defined in connection therewith the Credit Agreement), shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor to Secured Party on demanddemand and shall constitute Obligations secured by this Agreement. Notwithstanding the foregoing, it is expressly agreed that Secured Party shall not have any liability or responsibility for the performance of any obligation of Debtor under this Agreement.

Appears in 1 contract

Samples: Security Agreement (Remote Knowledge Inc)

Performance by Secured Party. If Debtor fails to perform any agreement or obligation provided herein, Secured Party may itself perform, or cause performance of, such agreement or obligation, and the expenses of Secured Party incurred in connection therewith shall be a part of the IndebtednessSecured Obligations, secured by the Collateral and payable by Debtor on demand.

Appears in 1 contract

Samples: Second Lien Security Agreement

Performance by Secured Party. If Debtor fails to perform or comply with any agreement or obligation provided of its agreements contained herein, Secured Party may itself performmay, at its sole discretion, cause or attempt to cause performance of, or compliance with such agreement or obligation, and the expenses of Secured Party incurred in connection therewith Party, together with interest thereon at the maximum nonusurious per annum rate permitted by applicable law, shall be a part of the Indebtedness, secured by the Collateral and payable by Debtor to Secured Party on demanddemand and shall constitute Obligations secured by this Agreement. Notwithstanding the foregoing, it is expressly agreed that Secured Party shall not have any liability or responsibility for the performance of any obligation of Debtor under this Agreement.

Appears in 1 contract

Samples: Loan Agreement (Arabian Shield Development Co)

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