Common use of Performance by the Lender Clause in Contracts

Performance by the Lender. If the Borrower shall fail to perform any covenant or agreement contained in any of the Loan Documents, the Lender may perform or attempt to perform such covenant or agreement on behalf of the Borrower. In such event, the Borrower shall, at the request of the Lender, promptly pay any amount expended by the Lender in connection with such performance or attempted performance to the Lender, together with interest thereon at the 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 Lender shall not have any liability or responsibility for the performance of any obligation of the Borrower under this Agreement or any other Loan Document.

Appears in 9 contracts

Samples: Loan Agreement (Quest Resource Holding Corp), Loan Agreement (Pizza Inn Holdings, Inc /Mo/), Loan Agreement (Isecuretrac Corp)

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Performance by the Lender. If the any Borrower shall fail to perform any covenant or agreement contained in any accordance with the terms of the Loan Documents, the Lender may perform or attempt to perform such covenant or agreement on behalf of the BorrowerBorrowers. In such event, the Borrower Borrowers shall, at the request of the Lender, promptly pay any amount expended by the Lender in connection with such performance or attempted performance to the LenderLender at the Principal Office, together with interest thereon at the 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 Lender shall not have any liability or responsibility for the performance of any obligation of the any Borrower under this Agreement or any of the other Loan DocumentDocuments.

Appears in 2 contracts

Samples: Credit Agreement (Transcoastal Marine Services Inc), Credit Agreement (Transcoastal Marine Services Inc)

Performance by the Lender. If the Borrower shall fail to perform any covenant or agreement contained in any accordance with the terms of the Loan Documents, the Lender may perform or attempt to perform such covenant or agreement on behalf of the Borrower. In such event, the Borrower shall, at the request of the Lender, promptly pay any amount expended by the Lender in connection with such performance or attempted performance to the LenderLender 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 Lender shall not have any liability or responsibility for the performance of any obligation of the Borrower under this Agreement or any of the other Loan DocumentDocuments.

Appears in 1 contract

Samples: Loan Agreement (Uici)

Performance by the Lender. If the Borrower shall fail to perform any covenant or agreement contained in any of the Loan Documents, the Lender may perform or attempt to perform such covenant or agreement on behalf of the Borrower. In such event, the Borrower shall, at the request of the Lender, promptly pay any amount reasonably expended by the Lender in connection with such performance or attempted performance to the Lender, together with interest thereon at the 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 Lender shall not have any liability or responsibility for the performance of any obligation of the Borrower under this Agreement or any other Loan Document.

Appears in 1 contract

Samples: Loan Agreement (Boyle Fleming & Co Inc)

Performance by the Lender. If the any Borrower shall fail to perform any covenant or agreement contained in any of the Loan Documents, the Lender may perform or attempt to perform such covenant or agreement on behalf of the such Borrower. In such event, the Borrower Borrowers shall, at the request of the Lender, promptly pay any amount expended by the Lender in connection with such performance or attempted performance to the Lender, together with interest thereon at the 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 Lender shall not have any liability or responsibility for the performance of any obligation of the Borrower Borrowers under this Agreement or any other Loan Document.

Appears in 1 contract

Samples: Loan Agreement (Marcum Natural Gas Services Inc/New)

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Performance by the Lender. If the Borrower Borrowers shall fail to perform any covenant or agreement contained in any of the Loan Documents, the Lender may perform or attempt to perform such covenant or agreement on behalf of the BorrowerBorrowers. In such event, the Borrower Borrowers shall, at the request of the Lender, promptly pay any amount expended by the Lender in connection with such performance or attempted performance to the Lender, together with interest thereon at the 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 Lender shall not have any liability or responsibility for the performance of any obligation of the Borrower Borrowers under this Agreement or any other Loan Document.

Appears in 1 contract

Samples: Loan Agreement (Integrated Performance Systems Inc)

Performance by the Lender. If the Borrower shall fail to perform any covenant or agreement contained in any of the Loan DocumentsDocuments and such failure shall constitute a default, the Lender may perform or attempt to perform such covenant or agreement on behalf of the Borrower. In such event, the Borrower shall, at the request of the Lender, promptly pay any amount expended by the Lender in connection with such performance or attempted performance to the Lender, together with interest thereon at the Default Interest 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 Lender shall not have any liability or responsibility for the performance of any obligation of the Borrower under this Agreement or any other Loan Document.

Appears in 1 contract

Samples: Loan Agreement (Home Solutions of America Inc)

Performance by the Lender. If the Borrower shall fail to perform any covenant or agreement contained in any of the Loan Documents, the Lender may perform or attempt to perform such covenant or agreement on behalf of the Borrower. In such event, the Borrower shall, at the request of the Lender, Lender promptly pay any amount expended by the Lender in connection with such performance or attempted performance to the Lender, together with interest thereon at the 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 Lender shall not have any liability or responsibility for the performance of any obligation of the Borrower under this Agreement or any other Loan Document.

Appears in 1 contract

Samples: Loan Agreement (Imperial Petroleum Recovery Corp)

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