Performance by the Bank. If any Debtor shall fail to perform any covenant or agreement contained in this Agreement, the Bank may (but shall not be obligated to) perform or attempt to perform such covenant or agreement on behalf of the Debtors, in which case Bank shall exercise good faith and make diligent efforts to give Debtors prompt prior written notice of such performance or attempted performance. In such event, the Debtors shall, at the request of the Bank, promptly pay any reasonable amount expended by the Bank in connection with such performance or attempted performance to the Bank, together with interest thereon at the interest rate set forth in the Credit Agreement, from and including the date of such expenditure to but excluding the date such expenditure is paid in full. Notwithstanding the foregoing, it is expressly agreed that the Bank shall not have any liability or responsibility for the performance (or non-performance) of any obligation of the Debtors under this Agreement.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Digirad Corp), Security Agreement (Interactive Health, Inc.)
Performance by the Bank. If If, at any Debtor time after the occurrence and during the continuance of an Event of Default, the Borrower shall fail to perform any covenant or agreement contained in this Agreementaccordance with the terms of the Loan Documents after notice from the Bank, the Bank may (but shall not be obligated to) perform or attempt to perform such covenant or agreement on behalf of the Debtors, in which case Bank shall exercise good faith and make diligent efforts to give Debtors prompt prior written notice of such performance or attempted performanceBorrower. In such event, the Debtors Borrower shall, at the request of the Bank, promptly pay any reasonable amount expended by the Bank in connection with such performance or attempted performance to the BankBank at the Principal Office, together with interest thereon at the interest rate set forth in the Credit Agreement, Default Rate from and including the date of such expenditure to but excluding the date such expenditure is paid in full. Notwithstanding the foregoing, it is expressly agreed that the Bank shall not have any liability or responsibility for the performance (or non-performance) of any obligation of the Debtors Borrower under this AgreementAgreement or any of the other Loan Documents.
Appears in 1 contract
Samples: Loan Agreement (Pizza Inn Inc /Mo/)
Performance by the Bank. If If, at any Debtor time after the occurrence ----------------------- and during the continuance of an Event of Default, the Borrower shall fail to perform any covenant or agreement contained in this Agreementaccordance with the terms of the Loan Documents after notice from the Bank, the Bank may (but shall not be obligated to) perform or attempt to perform such covenant or agreement on behalf of the Debtors, in which case Bank shall exercise good faith and make diligent efforts to give Debtors prompt prior written notice of such performance or attempted performanceBorrower. In such event, the Debtors Borrower shall, at the request of the Bank, promptly pay any reasonable amount expended by the Bank in connection with such performance or attempted performance to the BankBank at the Principal Office, together with interest thereon at the interest rate set forth in the Credit Agreement, Default Rate from and including the date of such expenditure to but excluding the date such expenditure is paid in full. Notwithstanding the foregoing, it is expressly agreed that the Bank shall not have any liability or responsibility for the performance (or non-performance) of any obligation of the Debtors Borrower under this AgreementAgreement or any of the other Loan Documents.
Appears in 1 contract
Samples: Loan Agreement (Pizza Inn Inc /Mo/)