Common use of Power to remedy Clause in Contracts

Power to remedy. If the Chargor fails to perform any term affecting the Mortgaged Property, the Chargor must allow the Security Agent or its agents and contractors: (a) to enter any part of the Mortgaged Property; (b) to comply with or object to any notice served on the Chargor in respect of the Mortgaged Property; and (c) to take any action as the Security Agent may reasonably consider necessary or desirable to prevent or remedy any breach of any such term or to comply with or object to any such notice. The Chargor must immediately on request by the Security Agent pay the costs and expenses of the Security Agent or its agents and contractors incurred in connection with any action taken by it under this Subclause.

Power to remedy. If the Chargor fails to perform any term affecting the its Mortgaged Property, the Chargor must allow the Security Agent Lender or its agents and contractors: (a) to enter any part of the its Mortgaged Property; (b) to comply with or object to any notice served on the Chargor in respect of the its Mortgaged Property; and (c) to take any action as the Security Agent Lender may reasonably consider necessary or desirable to prevent or remedy any breach of any such term or to comply with or object to any such notice. The Chargor must immediately on request by the Security Agent Lender pay the costs and expenses of the Security Agent Lender or its agents and contractors reasonably incurred in connection with any action taken by it under this Subclause.