Performance by the Banks. If at any time the Borrower or any of its Subsidiaries fails or refuses to pay or perform any material obligation or duty to any third Person, except for payments which are the subject of bona fide disputes in the ordinary course of business, the Agent or the Banks may, in their sole discretion, but shall not be obligated to, pay or perform the same on behalf of the Borrower or such Subsidiary, and the Borrower shall promptly repay all amounts so paid, and all costs and expenses so incurred. This repayment obligation shall become one of the Obligations of the Borrower hereunder and shall bear interest at the Default Interest Rate.
Performance by the Banks. Should Borrower fail to perform any covenant, duty or agreement with respect to the payment of taxes, obtaining licenses or permits, or any other requirement contained herein or in any of the Credit Documents within the period provided herein, if any, for correction of such failure, the Banks may, at their option, perform or attempt to perform such covenant, duty or agreement on behalf of Borrower. In such event, Borrower shall, at the request of the Required Banks, promptly pay any amount expended by the Banks and/or the Administrative Agent in such performance or attempted performance to the Administrative Agent at its main office in Phoenix, Arizona, 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 Banks nor the Administrative Agent assume any liability or responsibility for the performance of any duties of Borrower hereunder or under any of the Credit Documents or other control over the management and affairs of Borrower.
Performance by the Banks. If at any time after the occurrence and during the continuance of an Event of Default the Borrower or any of its Subsidiaries fails or refuses to pay or perform any material obligation or duty to any third Person, except for payments which are the subject of bona fide disputes in the ordinary course of business, the Administrative Agent or the Banks may, in their sole discretion, but shall not be obligated to, pay or perform the same on behalf of the Borrower or such Subsidiary, and the Borrower shall promptly repay all amounts so paid, and all costs and expenses so incurred. This repayment obligation shall become one of the Obligations of the Borrower hereunder and shall bear interest at the Default Interest Rate.
Performance by the Banks. Should the Company fail to observe or perform any covenant, duty, or promise by it to be observed or performed under the terms of this Credit Agreement or the other Loan Documents, the Agent and the Banks may, in their discretion and without any obligation to do so, perform or attempt to perform, such covenant, duty, or promise on behalf of the Company, and, in the event the Agent or a Bank should do so, the Company shall immediately upon demand reimburse the Agent and such Bank for all its expenses, disbursements, fees, and costs incurred in connection therewith, with interest thereon at the rate specified in the Notes. Neither the Agent nor any of the Banks assume, or shall ever have, except by its express written consent, any liability or responsibility for the performance of any covenant, duty, or promise of the Company hereunder.
Performance by the Banks. If either Borrower or any Obligated Party shall fail to perform any covenant or agreement in accordance with the terms of the Loan Documents, the Banks may perform or attempt to perform such covenant or agreement on behalf of Borrowers or the applicable Obligated Party. In such event, Borrowers shall, at the request of the Banks, promptly pay any amount expended by the Banks in connection with such performance or attempted performance to the Banks at the Principal Office, together with interest thereon at the applicable 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 Banks shall have no liability or responsibility for the performance of any obligation of Borrowers or any Obligated Party under this Agreement or any of the other Loan Documents.
Performance by the Banks. Should any covenant, duty, or agreement of any Borrower or any Subsidiary fail to be performed in accordance with the terms of this Agreement or any of the other Loan Papers, the Banks may, at their option, upon a vote of the Majority Banks, perform or attempt to perform such covenant, duty or agreement on behalf of such Borrower or such Subsidiary. In such event, Xxxxxxx shall promptly pay to the Agent for the benefit of the Banks any reasonable amount expended by the Banks in such performance or attempted performance, together with interest thereon at the Highest Lawful Rate. Notwithstanding the foregoing, it is expressly understood that the Agent and the Banks do not assume and shall never have, except by express written consent of the Agent and the Banks, any liability or responsibility for the performance of any covenant, duty or agreement of any Borrower or any Subsidiary.
Performance by the Banks. 80 10.4 OTHER REMEDIES.......................................80 10.5 ENFORCEMENT AND WAIVER BY THE BANKS..................80
Performance by the Banks. If at any time the Borrower or any of its Subsidiaries fails or refuses to pay or perform any material obligation or duty to any third Person, except for payments which are the subject of bona fide disputes in the ordinary course of business, the Banks may, in their sole discretion, but shall not be obligated to, pay or perform the same on behalf of the Borrower or such Subsidiary, and the Borrower shall promptly repay all amounts so paid, and all costs and expenses so incurred. This repayment obligation shall become one of the Obligations of the Borrower hereunder and shall bear interest at the Default Interest Rate.
Performance by the Banks. Upon the occurrence and during the continuance of any Event of Default, should Borrower fail to perform any covenant, duty or agreement with respect to the payment of taxes, obtaining licenses or permits, or any other requirement contained herein or in any of the Credit Documents within the period provided herein, if any, for correction of such failure, the Banks may, at their option, perform or attempt to perform such covenant, duty or agreement on behalf of Borrower. In such event, Borrower shall, at the request of the Required Banks, promptly pay any amount expended by the Banks and/or the Administrative Agent in such performance or attempted performance to the Administrative Agent at its Payment 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 Banks nor the Administrative Agent assume any liability or responsibility for the performance of any duties of Borrower hereunder or under any of the Credit Documents or other control over the management and affairs of Borrower.
Performance by the Banks. If at any time the Borrower fails or ------------------------ refuses to pay or perform any obligation or duty to any third Person, except for payments which are the subject of bona fide disputes in the ordinary course of business, the Banks may, in their sole discretion, but shall not be obligated to, pay or perform the same on behalf of the Borrower, and the Borrower shall promptly repay all amounts so paid, and all costs and expenses so incurred. This repayment obligation shall become one of the Obligations of the Borrower hereunder and shall bear interest at the Default Interest Rate.
