Common use of Performance of Borrowers’ Obligations Clause in Contracts

Performance of Borrowers’ Obligations. If Borrower fails to (i) maintain in force and pay for any insurance policy or bond which Borrower is required to provide pursuant to any of the Loan Instruments, (ii) keep the Collateral free from all Liens except for Permitted Liens, (iii) pay when due all taxes, levies and assessments on or in respect of the Collateral, except as otherwise permitted pursuant to the terms hereof, (iv) make all payments and perform all acts on the part of Borrower to be paid or performed in the manner required by the terms hereof and by the terms of the other Loan Instruments with respect to any of the Collateral, including, without limitation, all expenses of protecting, storing, warehousing, insuring, handling and maintaining the Collateral, (v) keep fully and perform promptly any other of the obligations of Borrower hereunder or under any of the other Loan Instruments, and (vi) keep fully and perform promptly the obligations of Borrower with respect to any issue of Indebtedness for Borrowed Money secured by a Permitted Prior Lien, then Agent or Lenders may (but shall not be required to) procure and pay for such insurance policy or bond, place such Collateral in good repair and operating condition, pay, contest or settle such Liens or taxes or any judgments based thereon or otherwise make good any other aforesaid failure of Borrower. Borrower shall reimburse Agent and Lenders immediately upon demand for all sums paid or advanced on behalf of Borrower for any such purpose, together with costs and expenses (including reasonable attorney's fees) paid or incurred by Agent and Lenders in connection therewith and interest on all sums advanced from the date of advancement until repaid to Agent and Lenders at the Default Rate. All such sums advanced by Agent and Lenders, with interest thereon, immediately upon advancement thereof, shall be deemed to be part of Borrower's Obligations.

Performance of Borrowers’ Obligations. If any Borrower fails to (i) maintain in force and pay for any insurance policy or bond which such Borrower is required to provide pursuant to any of the Loan Instruments, (ii) keep the Collateral free from all Liens except for Permitted Liens, (iii) pay when due all taxes, levies and assessments on or in respect of the Collateral, except as otherwise permitted pursuant to the terms hereof, (iv) make all payments and perform all acts on the part of such Borrower to be paid or performed in the manner required by the terms hereof and by the terms of the other Loan Instruments with respect to any of the Collateral, including, without limitation, all expenses of protecting, storing, warehousing, insuring, handling and maintaining the Collateral, (v) keep fully and perform promptly any other of the obligations of such Borrower hereunder or under any of the other Loan Instruments, and (vi) keep fully and perform promptly the obligations of such Borrower with respect to any issue of Indebtedness for Borrowed Money secured by a Permitted Prior Lien, then Agent or Lenders may (but shall not be required to) procure and pay for such insurance policy or bond, place such Collateral in good repair and operating condition, pay, contest or settle such Liens or taxes or any judgments based thereon or otherwise make good any other aforesaid failure of such Borrower. Borrower Borrowers shall reimburse Agent and Lenders immediately upon demand for all reasonable sums paid or advanced on behalf of any Borrower for any such purpose, together with reasonable and/or necessary costs and expenses (including reasonable attorney's attorneys' fees) paid or incurred by Agent and Lenders in connection therewith and interest on all sums advanced from the date of advancement until repaid to Agent and Lenders at the Default Rate. All such sums advanced by Agent and Lenders, with interest thereon, immediately upon advancement thereof, shall be deemed to be part of Borrower's Borrowers' Obligations.

Performance of Borrowers’ Obligations. If Borrower fails to (i) maintain in force and pay for any insurance policy or bond which Borrower is required to provide pursuant to any of the Loan Instruments, (ii) keep the Collateral free from all Liens except for Permitted Liens, (iii) pay when due all taxes, levies and assessments on or in respect of the Collateral, except as otherwise permitted pursuant to the terms hereof, (iv) make all payments and perform all acts on the part of Borrower to be paid or performed in the manner required by the terms hereof and by the terms of the other Loan Instruments with respect to any of the Collateral, including, without limitation, all expenses of protecting, storing, warehousing, insuring, handling and maintaining the Collateral, (v) keep fully and perform promptly any other of the obligations of Borrower hereunder or under any of the other Loan Instruments, and (vi) keep fully and perform promptly the obligations of Borrower with respect to any issue of Indebtedness for Borrowed Money secured by a Permitted Prior Lien, then Agent or Lenders FINOVA may (but shall not be required to) procure and pay for such insurance policy or bond, place such Collateral in good repair and operating condition, pay, contest or settle such Liens or taxes or any judgments based thereon or otherwise make good any other aforesaid failure of Borrower. Borrower shall reimburse Agent and Lenders FINOVA immediately upon demand for all sums paid or advanced on behalf of Borrower for any such purpose, together with costs and expenses (including reasonable attorney's fees) paid or incurred by Agent and Lenders FINOVA in connection therewith and interest on all sums advanced from the date of advancement until repaid to Agent and Lenders FINOVA at the Default Rate. All such sums advanced by Agent and LendersFINOVA, with interest thereon, immediately upon advancement thereof, shall be deemed to be part of Borrower's Obligations.

Performance of Borrowers’ Obligations. If Borrower or any of its Subsidiaries fails to (i) maintain in force and pay for any insurance policy or bond which Borrower such Person is required to provide pursuant to any of the Loan Instruments, (ii) keep the Collateral free from all Liens except for Permitted Liens, (iii) pay when due all taxes, levies and assessments on or in respect of the Collateral, except as otherwise permitted pursuant to the terms hereof, (iv) make all payments and perform all acts on the part of Borrower such Person to be paid or performed in the manner required by the terms hereof and by the terms of the other Loan Instruments with respect to any of the Collateral, including, without limitation, all expenses of protecting, storing, warehousing, insuring, handling and maintaining the Collateral, (v) keep fully and perform promptly any other of the obligations of Borrower such Person hereunder or under any of the other Loan Instruments, and (vi) keep fully and perform promptly the obligations of Borrower such Person with respect to any issue of Indebtedness for Borrowed Money secured by a Permitted Prior Lien, then Agent or Lenders may (but shall not be required to) procure and pay for such insurance policy or bond, place such Collateral in good repair and operating condition, pay, contest or settle such Liens or taxes or any judgments based thereon or otherwise make good any other aforesaid failure of Borrowersuch Person. Borrower shall reimburse Agent and Lenders immediately upon demand for all reasonable sums paid or advanced on behalf of Borrower for any such purpose, together with reasonable and/or necessary costs and expenses (including reasonable attorney's attorneys' fees) paid or incurred by Agent and Lenders in connection therewith and interest on all sums advanced from the date of advancement until repaid to Agent and Lenders at the Default Rate. All such sums advanced by Agent and Lenders, with interest thereon, immediately upon advancement thereof, shall be deemed to be part of Borrower's Obligations.

Performance of Borrowers’ Obligations. If Borrower fails Borrowers fail to (i) maintain in force and pay for any insurance policy or bond which Borrower is Borrowers are required to provide pursuant to any of the Loan Instruments, (ii) keep the Collateral free from all Liens except for Permitted Liens, (iii) pay when due all taxes, levies and assessments on or in respect of the Collateral, except as otherwise permitted pursuant to the terms hereof, (iv) make all payments and perform all acts on the part of Borrower Borrowers to be paid or performed in the manner required by the terms hereof and by the terms of the other Loan Instruments with respect to any of the Collateral, including, without limitation, all expenses of protecting, storing, warehousing, insuring, handling and maintaining the Collateral, (v) keep fully and perform promptly any other of the obligations of Borrower Borrowers hereunder or under any of the other Loan Instruments, and (vi) keep fully and perform promptly the obligations of Borrower Borrowers with respect to any issue of Indebtedness for Borrowed Money secured by a Permitted Prior Lien, then Agent or Lenders may (but shall not be required to) procure and pay for such insurance policy or bond, place such Collateral in good repair and operating condition, pay, contest or settle such Liens or taxes or any judgments based thereon or otherwise make good any other aforesaid failure of BorrowerBorrowers. Borrower Borrowers shall reimburse Agent and Lenders immediately upon demand for all sums paid or advanced on behalf of Borrower Borrowers for any such purpose, together with costs and expenses (including reasonable attorney's fees) paid or incurred by Agent and Lenders in connection therewith and interest on all sums advanced from the date of advancement until repaid to Agent and Lenders at the Default Rate. All such sums advanced by Agent and LendersAgent, with interest thereon, immediately upon advancement thereof, shall be deemed to be part of Borrower's Borrowers' Obligations.

Performance of Borrowers’ Obligations. If Borrower fails to (i) maintain in force and pay for any insurance policy or bond which Borrower is required to provide pursuant to any of the Loan Instruments, (ii) keep the Collateral free from all Liens except for Permitted Liens, (iii) pay when due all taxes, levies and assessments on or in respect of the Collateral, except as otherwise permitted pursuant to the terms hereof, (iv) make all payments and perform all acts on the part of Borrower to be paid or performed in the manner required by the terms hereof and by the terms of the other Loan Instruments with respect to any of the Collateral, including, without limitation, all expenses of protecting, storing, warehousing, insuring, handling and maintaining the Collateral, (v) keep fully and perform promptly any other of the obligations of Borrower hereunder or under any of the other Loan Instruments, and (vi) keep fully and perform promptly the obligations of Borrower with respect to any issue of Indebtedness for Borrowed Money secured by a Permitted Prior Lien, then Agent or Lenders may (but shall not be required to) procure and pay for such insurance policy or bond, place such Collateral in good repair and operating condition, pay, contest or settle such Liens or taxes or any judgments based thereon or otherwise make good any other aforesaid failure of Borrower. Borrower shall reimburse Agent and Lenders immediately upon demand for all reasonable sums paid or advanced on behalf of Borrower for any such purpose, together with reasonable and/or necessary costs and expenses (including reasonable attorney's attorneys' fees) paid or incurred by Agent and Lenders in connection therewith and interest on all sums advanced from the date of advancement until repaid to Agent and Lenders at the Default Rate. All such sums advanced by Agent and Lenders, with interest thereon, immediately upon advancement thereof, shall be deemed to be part of Borrower's Obligations.

Performance of Borrowers’ Obligations. If Borrower or any Subsidiary of Borrower fails to (i) maintain in force and pay for any insurance policy or bond which Borrower such Person is required to provide pursuant to any of the Loan InstrumentsDocuments, (ii) keep the Collateral free from all Liens except for Permitted Liens, (iii) pay when due all taxes, levies and assessments on or in respect of the Collateral, except as otherwise permitted pursuant to the terms hereof, (iv) make all payments and perform all acts on the part of Borrower such Person to be paid or performed in the manner required by the terms hereof and by the terms of the other Loan Instruments Documents with respect to any of the Collateral, including, without limitation, all expenses of protecting, storing, warehousing, insuring, handling and maintaining the Collateral, (v) keep fully and perform promptly any other of the obligations of Borrower such Person hereunder or under any of the other Loan InstrumentsDocuments, and (vi) keep fully and perform promptly the obligations of Borrower with respect to any issue of Indebtedness for Borrowed Money secured by a Permitted Prior Lien, then Agent or Lenders Lender may (but shall not be required to) procure and pay for such insurance policy or bond, place such Collateral in good repair and operating condition, pay, contest or settle such Liens or taxes or any judgments 62 70 based thereon or otherwise make good any other aforesaid failure of Borrowersuch Person. Borrower shall reimburse Agent and Lenders Lender immediately upon demand for all reasonable sums paid or advanced on behalf of Borrower or any Subsidiary of Borrower for any such purpose, together with reasonable and/or necessary costs and expenses (including reasonable attorney's attorneys' fees) paid or incurred by Agent and Lenders Lender in connection therewith and interest on all sums advanced from the date of advancement until repaid to Agent and Lenders Lender at the Default RateRate applicable thereto. All such sums advanced by Agent and LendersLender, with interest thereon, immediately upon advancement thereof, shall be deemed to be part of Borrower's ObligationsObligations and secured by the Security Interests.

Performance of Borrowers’ Obligations. If Borrower fails to (i) maintain in force and pay for any insurance policy or bond which Borrower is required to provide pursuant to any of the Loan Instruments, (ii) keep the Collateral free from all Liens except for Permitted Liens, (iii) pay when due all taxes, levies and assessments on or in respect of the Collateral, except as otherwise permitted pursuant to the terms hereof, (iv) make all payments and perform all acts on the part of Borrower to be paid or performed in the manner required by the terms hereof and by the terms of the other Loan Instruments with respect to any of the Collateral, including, without limitation, all expenses of protecting, storing, warehousing, insuring, handling and maintaining the Collateral, (v) keep fully and perform promptly any other of the obligations of Borrower hereunder or under any of the other Loan Instruments, and (vi) keep fully and perform promptly the obligations of Borrower with respect to any issue of Indebtedness for Borrowed Money secured by a Permitted Prior Lien, then Agent or Lenders FINOVA may (but shall not be required to) procure and pay for such insurance policy or bond, place such Collateral in good repair and operating condition, pay, contest or settle such Liens or taxes or any judgments based thereon or otherwise make good any other aforesaid failure of Borrower; provided, however, FINOVA shall not, except in (a) the event that Borrower is in default pursuant to Section 8.1.5 above, or (b) any reasonable threat of diminishment of value of the Collateral or impairment of FINOVA's security interest therein, take any such action unless such failure by Borrower continues for more than five (5) days following notice from FINOVA to Borrower of such failure. Borrower shall reimburse Agent and Lenders FINOVA immediately upon demand for all sums paid or advanced on behalf of Borrower for any such purpose, together with costs and expenses (including reasonable attorney's fees) paid or incurred by Agent and Lenders FINOVA in connection therewith and interest on all sums advanced from the date of advancement until repaid to Agent and Lenders FINOVA at the Default Rate. All such sums advanced by Agent and LendersFINOVA, with interest thereon, immediately upon advancement thereof, shall be deemed to be part of Borrower's Obligations.

Performance of Borrowers’ Obligations. If Borrower or Guarantor fails to (i) maintain in force and pay for any insurance policy or bond which Borrower or Guarantor is required to provide pursuant to any of the Loan Instruments, (ii) keep the Collateral free from all Liens except for Permitted Liens, (iii) pay when due all taxes, levies and assessments on or in respect of the Collateral, except as otherwise permitted pursuant to the terms hereof, (iv) make all payments and perform all acts on the part of Borrower or Guarantor to be paid or performed in the manner required by the terms hereof and by the terms of the other Loan Instruments with respect to any of the Collateral, including, without limitation, all expenses of protecting, storing, warehousing, insuring, handling and maintaining the Collateral, (v) keep fully and perform promptly any other of the obligations of Borrower or Guarantor hereunder or under any of the other Loan Instruments, and (vi) keep fully and perform promptly the obligations of Borrower with respect to any issue of Indebtedness for Borrowed Money secured by a Permitted Prior Lien, then Agent or Lenders Lender may (but shall not be required to) procure and pay for such insurance policy or bond, place such Collateral in good repair and operating condition, pay, contest or settle such Liens or taxes or any judgments based thereon or otherwise make good any other aforesaid failure of BorrowerBorrower or Guarantor. Borrower shall reimburse Agent and Lenders Lender immediately upon demand for all sums paid or advanced on behalf of Borrower for any such purpose, together with costs and expenses (including reasonable attorney's fees) paid or incurred by Agent and Lenders Lender in connection therewith and interest on all sums advanced from the date of advancement until repaid to Agent and Lenders Lender shall be calculated at the Default Rate. All such sums advanced by Agent and LendersLender, with interest thereon, immediately upon advancement thereof, shall be deemed to be part of Borrower's Obligations.

Performance of Borrowers’ Obligations. If Borrower or any Subsidiary of Borrower fails to (i) maintain in force and pay for any insurance policy or bond which Borrower such Person is required to provide pursuant to any of the Loan InstrumentsDocuments, (ii) keep the Collateral free from all Liens except for Permitted Liens, (iii) pay when due all taxes, levies and assessments on or in respect of the Collateral, except as otherwise permitted pursuant to the terms hereof, (iv) make all payments and perform all acts on the part of Borrower such Person to be paid or performed in the manner required by the terms hereof and by the terms of the other Loan Instruments Documents with respect to any of the Collateral, including, without limitation, all expenses of protecting, storing, warehousing, insuring, handling and maintaining the Collateral, (v) keep fully and perform promptly any other of the obligations of Borrower such Person hereunder or under any of the other Loan InstrumentsDocuments, and (vi) keep fully and perform promptly the obligations of Borrower with respect to any issue of Indebtedness for Borrowed Money secured by a Permitted Prior Lien, then Agent or Lenders Lender may (but shall not be required to) procure and pay for such insurance policy or bond, place such Collateral in good repair and operating condition, pay, contest or settle such Liens or taxes or any judgments based thereon or otherwise make good any other aforesaid failure of Borrowersuch Person. Borrower shall reimburse Agent and Lenders Lender immediately upon demand for all reasonable sums paid or advanced on behalf of Borrower or any Subsidiary of Borrower for any such purpose, together with reasonable and/or necessary costs and expenses (including reasonable attorney's attorneys' fees) paid or incurred by Agent and Lenders Lender in connection therewith and interest on all sums advanced from the date of advancement until repaid to Agent and Lenders Lender at the Default RateRate applicable thereto. All such sums advanced by Agent and LendersLender, with interest thereon, immediately upon advancement thereof, shall be deemed to be part of Borrower's ObligationsObligations and secured by the Security Interests.

Performance of Borrowers’ Obligations. If any Borrower or any Subsidiary of any Borrower fails to (i) maintain in force and pay for any insurance policy or bond which Borrower such Person is required to provide pursuant to any of the Loan InstrumentsDocuments, (ii) keep the Collateral free from all Liens except for Permitted Liens, (iii) pay when due all taxes, levies and assessments on or in respect of the Collateral, except as otherwise permitted pursuant to the terms hereof, (iv) make all payments and perform all acts on the part of Borrower such Person to be paid or performed in the manner required by the terms hereof and by the terms of the other Loan Instruments Documents with respect to any of the Collateral, including, without limitation, all expenses of protecting, storing, warehousing, insuring, handling and maintaining the Collateral, (v) keep fully and perform promptly any other of the obligations of Borrower such Person hereunder or under any of the other Loan InstrumentsDocuments, and (vi) keep fully and perform promptly the obligations of such Borrower with respect to any issue of Indebtedness for Borrowed Money secured by a Permitted Prior Lien, then Agent or Lenders Lender may (but shall not be required to) procure and pay for such insurance policy or bond, place such Collateral in good repair and operating condition, pay, contest or settle such Liens or taxes or any judgments based thereon or otherwise make good any other aforesaid failure of Borrowersuch Person. Borrower Borrowers shall reimburse Agent and Lenders Lender immediately upon demand for all reasonable sums paid or advanced on behalf of any Borrower or any Subsidiary of any Borrower for any such purpose, together with reasonable and/or necessary costs and expenses (including reasonable attorney's attorneys' fees) paid or incurred by Agent and Lenders Lender in connection therewith and interest on all sums advanced from the date of advancement until repaid to Agent and Lenders Lender at the Default RateRate applicable thereto. All such sums advanced by Agent and LendersLender, with interest thereon, immediately upon advancement thereof, shall be deemed to be part of Borrower's ObligationsBorrowers' Obligations and secured by the Security Interests.

Performance of Borrowers’ Obligations. If any Borrower fails to (i) ------------------------------------- maintain in force and pay for any insurance policy or bond which such Borrower is required to provide pursuant to any of the Loan Instruments, (ii) keep the Collateral free from all Liens except for Permitted Liens, (iii) pay when due all taxes, levies and assessments on or in respect of the Collateral, except as otherwise permitted pursuant to the terms hereof, (iv) make all payments and perform all acts on the part of such Borrower to be paid or performed in the manner required by the terms hereof and by the terms of the other Loan Instruments with respect to any of the Collateral, including, without limitation, all expenses of protecting, storing, warehousing, insuring, handling and maintaining the Collateral, (v) keep fully and perform promptly any other of the obligations of such Borrower hereunder or under any of the other Loan Instruments, and (vi) keep fully and perform promptly the obligations of such Borrower with respect to any issue of Indebtedness for Borrowed Money secured by a Permitted Prior Lien, then Agent or Lenders may (but shall not be required to) procure and pay for such insurance policy or bond, place such Collateral in good repair and operating condition, pay, contest or settle such Liens or taxes or any judgments based thereon or otherwise make good any other aforesaid failure of such Borrower. Borrower Borrowers shall reimburse Agent and Lenders immediately upon demand for all sums paid or advanced on behalf of any Borrower for any such purpose, together with costs and expenses (including reasonable attorney's fees) paid or incurred by Agent and Lenders in connection therewith and interest on all sums advanced from the date of advancement until repaid to Agent and Lenders at the Default Rate. All such sums advanced by Agent and Lenders, with interest thereon, immediately upon advancement thereof, shall be deemed to be part of Borrower's Borrowers' Obligations.

Performance of Borrowers’ Obligations. If Borrower fails to (i) maintain in force and pay for any insurance policy or bond which Borrower is required to provide pursuant to any of the Loan InstrumentsDocuments, (ii) keep the Collateral free from all Liens except for Permitted Liens, (iii) pay when due all taxes, levies and assessments on or in respect of the Collateral, except as otherwise permitted pursuant to the terms hereof, (iv) make all payments and perform all acts on the part of Borrower to be paid or performed in the manner required by the terms hereof and by the terms of the other Loan Instruments Documents with respect to any of the Collateral, including, without limitation, all expenses of protecting, storing, warehousing, insuring, handling and maintaining the Collateral, (v) keep fully and perform promptly any other of the obligations of Borrower Borrower's Obligations hereunder or under any of the other Loan InstrumentsDocuments, and (vi) keep fully and perform promptly the obligations of Borrower Borrower's Obligations with respect to any issue of Indebtedness for Borrowed Money Debt secured by a Permitted Prior Lien, then Agent or Lenders Lender may (but shall not be required to) procure and pay for such insurance policy or bond, place such Collateral in good repair and operating condition, pay, contest or settle such Liens or taxes or any judgments based thereon or otherwise make good any other aforesaid failure of Borrower. Borrower shall reimburse Agent and Lenders Lender immediately upon demand for all sums paid or advanced on behalf of Borrower for any such purpose, together with costs and expenses (including reasonable attorney's fees) paid or incurred by Agent and Lenders Lender in connection therewith and interest on all sums advanced from the date of advancement until repaid to Agent and Lenders Lender at the Default Rate. All such sums advanced by Agent and LendersLender, with interest thereon, immediately upon advancement thereof, shall be deemed to be part of Borrower's Obligations.

Performance of Borrowers’ Obligations. If any Borrower fails to (i) ------------------------------------- maintain in force and pay for any insurance policy or bond which any Borrower is required to provide pursuant to any of the Loan Instruments, (ii) keep the Collateral free from all Liens except for Permitted Liens, (iii) pay when due all taxes, levies and assessments on or in respect of the Collateral, except as otherwise permitted pursuant to the terms hereof, (iv) make all payments and perform all acts on the part of such Borrower to be paid or performed in the manner required by the terms hereof and by the terms of the other Loan Instruments with respect to any of the Collateral, including, without limitation, all expenses of protecting, storing, warehousing, insuring, handling and maintaining the Collateral, (v) keep fully and perform promptly any other of the obligations of such Borrower hereunder or under any of the other Loan Instruments, and (vi) keep fully and perform promptly the obligations of such Borrower with respect to any issue of Indebtedness for Borrowed Money secured by a Permitted Prior Lien, then Agent or Lenders FINOVA may (but shall not be required to) procure and pay for such insurance policy or bond, place such Collateral in good repair and operating condition, pay, contest or settle such Liens or taxes or any judgments based thereon or otherwise make good any other aforesaid failure of such Borrower. Borrower Borrowers shall reimburse Agent and Lenders FINOVA immediately upon demand for all reasonable sums paid or advanced on behalf of any Borrower for any such purpose, together with reasonable and/or necessary costs and expenses (including reasonable attorney's attorneys' fees) paid or incurred by Agent and Lenders FINOVA in connection therewith and interest on all sums advanced from the date of advancement until repaid to Agent and Lenders FINOVA at the Default Rate. All such sums advanced by Agent and LendersFINOVA, with interest thereon, immediately upon advancement thereof, shall be deemed to be part of Borrower's Borrowers' Obligations.