Common use of Performance by the Secured Party Clause in Contracts

Performance by the Secured Party. In the event the Debtor shall at any time fail to pay or perform punctually any of its duties hereunder, the Secured Party may, at its option and without notice to or demand upon the Debtor, without obligation and without waiving or diminishing any of its other rights or remedies hereunder, fully perform or discharge any of such duties. All costs and expenses incurred by the Secured Party in connection therewith, together with interest thereon at the Secured Party's CoBank Base Rate plus four percent per annum, shall become part of the Obligations secured hereby and be paid by the Debtor upon demand.

Appears in 4 contracts

Samples: Security Agreement (Pacific Ethanol, Inc.), Security Agreement (Pacific Ethanol, Inc.), Security Agreement (Heron Lake BioEnergy, LLC)

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Performance by the Secured Party. In the event the Debtor shall at any time fail to pay or perform punctually any of its duties hereunder, the Secured Party may, at its option and without notice to or demand upon the Debtor, without obligation and without waiving or diminishing any of its other rights or remedies hereunder, fully perform or discharge any of such duties. All costs and expenses incurred by the Secured Party in connection therewith, together with interest thereon at the Secured Party's CoBank Agent Base Rate plus four percent per annum, shall become part of the Obligations secured hereby and be paid by the Debtor upon demand.

Appears in 2 contracts

Samples: Security Agreement (East Fork Biodiesel, LLC), Security Agreement (Green Plains Renewable Energy, Inc.)

Performance by the Secured Party. In the event the Debtor shall at any time fail to pay or perform punctually any of its duties hereunder, the Secured Party may, at its option and without notice to or demand upon the Debtor, without obligation and without waiving or diminishing any of its other rights or remedies hereunder, fully perform or discharge any of such duties. All costs and expenses incurred by the Secured Party in connection therewith, together with interest thereon at the Secured Party's CoBank Base ’s National Variable Rate plus four percent per annum, shall become part of the Obligations secured hereby and be paid by the Debtor upon demand.

Appears in 2 contracts

Samples: Security Agreement (Dakota Growers Pasta Co Inc), Security Agreement (South Dakota Soybean Processors LLC)

Performance by the Secured Party. In the event the Debtor shall at any time fail to pay or perform punctually any of its duties hereunder, the Secured Party may, at its option and without notice to or demand upon the Debtor, without obligation and without waiving or diminishing any of its other rights or remedies hereunder, fully perform or discharge any of such duties. All costs and expenses incurred by the Secured Party in connection therewith, together with interest thereon at the Secured Party's CoBank Base Rate plus four percent per annumannum in excess of the rate(s) of interest that would otherwise be in effect on that loan, shall become part of the Obligations secured hereby and be paid by the Debtor upon demand.

Appears in 2 contracts

Samples: Security Agreement (Heron Lake BioEnergy, LLC), Security Agreement (Heron Lake BioEnergy, LLC)

Performance by the Secured Party. In the event the Debtor shall at any time fail to pay or perform punctually any of its duties hereunder, the Secured Party may, at its option and without notice to or demand upon the Debtor, without obligation and without waiving or diminishing any of its other rights or remedies hereunder, fully perform or discharge any of such duties. All costs and expenses incurred by the Secured Party in connection therewith, together with interest thereon at the Secured Party's ’s CoBank Base Rate plus four percent per annum, shall become part of the Obligations secured hereby and be paid by the Debtor upon demand.

Appears in 2 contracts

Samples: Security Agreement (Dakota Growers Pasta Co Inc), Security Agreement (Dakota Growers Pasta Co Inc)

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Performance by the Secured Party. In the event the Debtor shall at any time fail to pay or perform punctually any of its duties hereunder, the Secured Party may, at its option and without notice to or demand upon the Debtor, without obligation and without waiving or diminishing any of its other rights or remedies hereunder, fully perform or discharge any of such duties. All costs and expenses incurred by the Secured Party in connection therewith, together with interest thereon at the Secured Party's CoBank Base Agent Rate plus four percent per annum, shall become part of the Obligations secured hereby and be paid by the Debtor upon demand.

Appears in 1 contract

Samples: Security Agreement (Green Plains Renewable Energy, Inc.)

Performance by the Secured Party. In the event the Debtor shall at any time fail to pay or perform punctually any of its duties hereunder, the Secured Party may, at its option and without notice to or demand upon the Debtor, without obligation and without waiving or diminishing any of its other rights or remedies hereunder, fully perform or discharge any of such duties. All costs and expenses incurred by the Secured Party in connection therewith, together with interest thereon at the Secured Party's CoBank Base Rate plus four two percent per annum, shall become part of the Obligations secured hereby and be paid by the Debtor upon demand.

Appears in 1 contract

Samples: Security Agreement (U. S. Premium Beef, LLC)

Performance by the Secured Party. In the event the Debtor shall at any time fail to pay or perform punctually any of its duties hereunder, the Secured Party may, at its option and without notice to or demand upon the Debtor, without obligation and without waiving or diminishing any of its other rights or remedies hereunder, fully perform or discharge any of such duties. All costs and expenses incurred by the Secured Party in connection therewith, together with interest thereon at the Secured Party's CoBank Base National Variable Rate plus four percent per annum, shall become part of the Obligations secured hereby and be paid by the Debtor upon demand.

Appears in 1 contract

Samples: Security Agreement (Soybean Processors LLC)

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