Common use of Performance by the Administrative Agent Clause in Contracts

Performance by the Administrative Agent. Should any Credit Party fail to perform any covenant, duty, or agreement contained herein or in any of the Loan Documents, and such failure continues beyond any applicable cure period, the Administrative Agent may, but shall not be obligated to, perform or attempt to perform such covenant, duty, or agreement on behalf of such Person. In such event, the Credit Parties shall, at the request of the Administrative Agent, promptly pay any amount expended by the Administrative Agent in such performance or attempted performance to the Administrative Agent at its designated Agency Services Address, together with interest thereon at the Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, it is expressly understood that neither the Administrative Agent nor the Lenders assume any liability or responsibility for the performance of any duties of the Credit Parties, or any related Person hereunder or under any of the Loan Documents or other control over the management and affairs of any Credit Party, or any related Person, nor by any such action shall the Administrative Agent or the Lenders be deemed to create a partnership arrangement with any Credit Party, or any related Person.

Performance by the Administrative Agent. Should any Credit Party Borrower fail to perform any covenant, duty, or agreement contained herein or in any of the Loan Documents, and such failure continues beyond any applicable cure period, the Administrative Agent may, but shall not be obligated to, perform or attempt to perform such covenant, duty, or agreement on behalf of such Person. In such event, the Credit Parties Borrowers shall, at the request of the Administrative Agent, promptly pay any amount expended by the Administrative Agent in such performance or attempted performance to the Administrative Agent at its designated Agency Services Address, together with interest thereon at the Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, it is expressly understood that neither the Administrative Agent nor the Lenders assume any liability or responsibility for the performance of any duties of the Credit PartiesBorrowers, or any related Person hereunder or under any of the Loan Documents or other control over the management and affairs of any Credit PartyBorrower, or any related Person, nor by any such action shall the Administrative Agent or the Lenders be deemed to create a partnership arrangement with any Credit PartyBorrower, or any related Person.

Performance by the Administrative Agent. Should If either Borrower or any Credit Party of the Guarantors shall fail to perform any covenant, duty, duty or agreement contained herein or in any of the Loan Documents, and such failure continues beyond any applicable cure period, the Administrative Agent may, but shall not be obligated to, may perform or attempt to perform such covenant, duty, duty or agreement on behalf of such PersonPerson after the expiration of any cure or grace periods set forth herein if and to the extent the Administrative Agent considers in its discretion that such performance is necessary or advisable in order to protect or preserve the Collateral or in order to protect against a potential Material Adverse Effect. In such event, the Credit Parties such Person shall, at the request of the Administrative Agent, promptly pay any amount expended by the Administrative Agent in such performance or attempted performance to the Administrative Agent at its designated Agency Services AddressAgent, together with interest thereon at the applicable Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, it is expressly understood that neither the Administrative Agent nor the Lenders assume shall not have any liability or responsibility whatsoever for the performance of any duties obligation of the such Person under this Credit Parties, Agreement or any related Person hereunder other Loan Document in the absence of its gross negligence or under any of the Loan Documents or other control over the management and affairs of any Credit Party, or any related Person, nor willful misconduct. All amounts expended by any such action shall the Administrative Agent or pursuant to this Section shall constitute Obligations secured by the Lenders be deemed to create a partnership arrangement with any Credit Party, or any related PersonCollateral.

Performance by the Administrative Agent. Should Upon the occurrence and during the continuance of an Event of Default, should any Credit Party Borrower fail to perform any covenant, duty, or agreement contained herein or in any of the Loan DocumentsDocuments relating to the Collateral, and such failure continues beyond any applicable cure period, the Administrative Agent may, but shall not be obligated to, perform or attempt to perform such covenant, duty, or agreement on behalf of such Person. In such event, the Credit Parties Borrowers shall, at the request of the Administrative Agent, promptly pay any amount expended by the Administrative Agent in such performance or attempted performance to the Administrative Agent at its designated Agency Services Address, together with interest thereon at the Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, it is expressly understood that neither the Administrative Agent nor the Lenders assume any liability or responsibility for the performance of any duties of the Credit PartiesBorrowers, or any related Person hereunder or under any of the Loan Documents or other control over the management and affairs of any Credit PartyBorrower, or any related Person, nor by any such action shall the Administrative Agent or the Lenders be deemed to create a partnership arrangement with any Credit PartyBorrower, or any related Person.

Performance by the Administrative Agent. Should any Credit Party Borrower fail to perform any covenant, duty, or agreement contained herein or in any of the Loan Documents, and such failure continues beyond any applicable cure period, the Administrative Agent may, but shall not be obligated to, perform or attempt to perform such covenant, duty, or agreement on behalf of such Person. In such event, the Credit Parties Borrowers shall, at the request of the Administrative Agent, promptly pay any amount expended by the Administrative Agent in such performance or attempted performance to the Administrative Agent at its designated Agency Services Address, together with interest thereon at the Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, it is expressly understood that neither the Administrative Agent nor the Lenders assume any liability in the absence of gross negligence or willful misconduct, or responsibility for the performance of any duties of the Credit PartiesBorrowers, or any related Person hereunder or under any of the Loan Documents or other control over the management and affairs of any Credit PartyBorrower, or any related Person, nor by any such action shall the Administrative Agent or the Lenders be deemed to create a partnership arrangement with any Credit PartyBorrower, or any related Person.

Performance by the Administrative Agent. Should any Credit Party the Borrower fail to perform any covenant, duty, or agreement contained herein or in any of the Loan Documents, as applicable, and such failure continues beyond any applicable cure period, the Administrative Agent may, but shall not be obligated to, perform or attempt to perform such covenant, duty, or agreement on behalf of such Person. In such event, the Credit Parties each Borrower shall, at the request of the Administrative Agent, Agent promptly pay any reasonable amount expended by the Administrative Agent in such performance or attempted performance to the Administrative Agent at its designated Agency Services Addressthe Administrative Agent’s Office, together with interest thereon at the Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, it is expressly understood that neither the Administrative Agent nor the Lenders assume any liability or responsibility for the performance of any duties of the Credit Partiesany Borrower, or any related Person hereunder or under any of the Loan Documents or other control over the management and affairs of any Credit PartyBorrower, or any related Person, nor by any such action shall the Administrative Agent or the Lenders be deemed to create a partnership arrangement with any Credit Party, Borrower or any related Person.

Performance by the Administrative Agent. Should any Credit Party the Borrowers fail to perform any covenant, duty, or agreement contained herein or in any of the Loan DocumentsDocuments to which it is a party, and such failure continues beyond any applicable cure period, the Administrative Agent maymay (pursuant to such Loan Documents, including any collateral assignments therein to the Administrative Agent), but shall not be obligated to, perform or attempt to perform such covenant, duty, or agreement on behalf of such Person. In such event, the Credit Parties Borrowers shall, at the request of the Administrative Agent, promptly pay any amount expended by the Administrative Agent in such performance or attempted performance to the Administrative Agent at its designated Agency Services Address, together with interest thereon at the Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, it is expressly understood that neither the Administrative Agent Agents nor the Lenders assume any liability or responsibility for the performance of any duties of the Credit PartiesBorrowers, or any related Person hereunder or under any of the Loan Documents or other control over the management and affairs of any Credit Partythe Borrowers, or any related Person, nor by any such action shall the Administrative Agent Agents or the Lenders be deemed to create a partnership arrangement with any Credit PartyBorrower, or any related Person.

Performance by the Administrative Agent. Should any Credit Party the Borrower fail to perform any covenant, duty, or agreement contained herein or in any of the Loan Documents, and such failure continues beyond any applicable cure period, the Administrative Agent may, but shall not be obligated to, perform or attempt to perform such covenant, duty, or agreement on behalf of such Person. In such event, the Credit Parties Borrower shall, at the request of the Administrative Agent, promptly pay within fifteen (15) Business Days of such request any amount expended by the Administrative Agent in such performance or attempted performance to the Administrative Agent at its designated Agency Services Address, together with interest thereon at the Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, it is expressly understood that neither the Administrative Agent nor the Lenders assume any liability or responsibility for the performance of any duties of the Credit PartiesBorrower, or any related Person hereunder or under any of the Loan Documents or other control over the management and affairs of any Credit Partythe Borrower, or any related Person, nor by any such action shall the Administrative Agent or the Lenders be deemed to create a partnership arrangement with any Credit Partythe Borrower, or any related Person.

Performance by the Administrative Agent. Should any Credit Party the Borrower fail to perform any covenant, duty, or agreement contained herein or in any of the Loan Documents, as applicable, and such failure continues beyond any applicable cure period, the Administrative Agent may, but shall not be obligated to, perform or attempt to perform such covenant, duty, or agreement on behalf of such Person. In such event, the Credit Parties Borrower shall, at the request of the Administrative Agent, Agent promptly pay any reasonable amount expended by the Administrative Agent in such performance or attempted performance to the Administrative Agent at its designated Agency Services Addressthe Administrative Agent’s Office, together with interest thereon at the Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, it is expressly understood that neither the Administrative Agent nor the Lenders assume any liability or responsibility for the performance of any duties of the Credit PartiesBorrower, or any related Person hereunder or under any of the Loan Documents or other control over the management and affairs of any Credit Partythe Borrower, or any related Person, nor by any such action shall the Administrative Agent or the Lenders be deemed to create a partnership arrangement with any Credit Party, the Borrower or any related Person.