Common use of Performance of Covenants by Agent Clause in Contracts

Performance of Covenants by Agent. If the Sellers shall fail to --------------------------------- perform any of their covenants contained in this Indenture, the Agent may notify the Warrantholders of such failure on the part of the Sellers or may itself perform any of the said covenants capable of being performed by it, but, subject to Section 9.2, the Agent shall be under no obligation to do so or to notify the Warrantholders. All sums reasonably expended or advanced by the Agent in performance of its rights provided for in this Subsection 3.1(e) shall be repayable as provided in this Section 3.1. No such performance, expenditure or advance by the Agent shall be deemed to relieve the Sellers of any default hereunder or their continuing obligations hereunder.

Appears in 2 contracts

Samples: Warrant Indenture (Bid Com International Inc), Warrant Indenture (Bid Com International Inc)

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Performance of Covenants by Agent. If the Sellers Corporation shall fail to --------------------------------- perform any of their its covenants contained in this Indenture, the Agent may notify the Warrantholders of such failure on the part of the Sellers Corporation or may itself perform any of the said covenants capable of being performed by it, but, subject to Section 9.29.3, the Agent shall be under no obligation to do so or to notify the Warrantholders. All sums reasonably expended or advanced by the Agent in performance of its rights provided for in this Subsection 3.1(e) shall be repayable as provided in this Section 3.1. No such performance, expenditure or advance by the Agent shall be deemed to relieve the Sellers Corporation of any default hereunder or their its continuing obligations hereunder.

Appears in 1 contract

Samples: Warrant Indenture (Bid Com International Inc)

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Performance of Covenants by Agent. If the Sellers Corporation shall fail to --------------------------------- perform any of their its covenants contained in this Indenture, the Agent may notify the Warrantholders of such failure on the part of the Sellers Corporation or may itself perform any of the said covenants capable of being performed by it, but, subject to Section 9.2, the Agent shall be under no obligation to do so or to notify the Warrantholders. All sums reasonably expended or advanced by the Agent in performance of its rights provided for in this Subsection 3.1(e) shall be repayable as provided in this Section 3.1. No such performance, expenditure or advance by the Agent shall be deemed to relieve the Sellers Corporation of any default hereunder or their its continuing obligations hereunder.

Appears in 1 contract

Samples: Warrant Indenture (Bid Com International Inc)

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