Protection of Pledged Collateral. The Pledgor shall pay all taxes, charges and assessments against the Pledged Collateral and do all acts necessary and appropriate to preserve and maintain the value thereof. Without limiting the generality of the foregoing, the Pledgor shall not grant a security interest in the Pledged Collateral to any other person or entity without the prior written consent of the Pledgee thereto. Upon the failure of the Pledgor to comply with any of the foregoing, the Pledgee may make such payments and take such actions on account thereof as it, in its discretion, deems desirable. The Pledgor shall reimburse the Pledgee immediately on demand for each and all such payments and any costs so incurred.
Protection of Pledged Collateral. The Collateral Agent may from time to time, at its option, perform any act which any Pledgor agrees hereunder to perform and which such Pledgor shall fail to perform after being requested in writing so to perform (it being understood that no such request need be given after the occurrence and during the continuance of any Event of Default) and the Collateral Agent may, but shall not be required to, from time to time, take any other action which the Collateral Agent reasonably deems necessary for the maintenance, preservation or protection of any of the Pledged Collateral or of its security interest therein, all such actions being for the express benefit of the Secured Parties and the Collateral Agent and not any of the Pledgors.
Protection of Pledged Collateral. Pledgor shall not grant a security interest in the Pledged Collateral to any other person or entity without the prior written consent of Lender.
Protection of Pledged Collateral. The Pledgor shall pay all taxes, charges and assessments against the Pledged Collateral and do all acts necessary and appropriate to preserve and maintain the Collateral free of any Liens other than Permitted Liens. Without limiting the generality of the foregoing, the Pledgor shall not xxxxx x Xxxx on or in the Pledged Collateral to any other Person without the prior written consent of the Pledgee thereto. Upon the failure of the Pledgor to comply with any of the foregoing provisions of this Section 8, the Pledgee may make such payments and take such actions on account thereof as the Pledgee, in its discretion, deems necessary or appropriate. The Pledgor shall reimburse the Pledgee immediately upon demand for any and all such payments and related costs so incurred, together with interest thereon, from the date incurred by the Pledgor until paid, calculated on the basis of a year of 360 days and for the actual number of days elapsed, at the highest rate of interest then applicable to any of the Secured Obligations.
Protection of Pledged Collateral. The Agent may from time to time, at its option, perform any act which Pledgors agree hereunder to perform and which any Pledgor shall fail to perform after being requested in writing so to perform (it being understood that no such request need be given after the occurrence and during the continuance of any Event of Default) and the Agent may from time to time take any other action which the Agent reasonably deems necessary for the maintenance, preservation or protection of any of the Pledged Collateral or of its security interest therein, all such actions being for the express benefit of the Secured Parties and the Agent and not Pledgors.
Protection of Pledged Collateral. Pledgor will not create, permit or suffer to exist, and will defend the Pledged Collateral against and take such other action as is necessary to remove, any Lien on such Pledged Collateral other than Permitted Liens, and if Pledgor fails to do so, Lender may, without waiving or releasing any obligation or liability of Pledgor hereunder or any Event of Default, at any time thereafter (but shall be under no obligation to), make such payment or any part thereof, obtain such discharge or otherwise defend Pledgor’s title to such Pledged Collateral. All sums so paid by Lender and any reasonable expenses incurred by Lender in connection therewith, including reasonable attorneys’ fees, court costs, expenses and other charges relating thereto, shall be payable by Pledgor to Lender promptly and shall be deemed additional obligations secured by the Pledged Collateral and to the extent not paid shall be reimbursable as expenses of administration and enforcement as provided for under Section 4.06 of the Loan Agreement.
Protection of Pledged Collateral. The Escrow Agent may from time to time, at its option, perform any act which Grantor agrees hereunder to perform and which Grantor shall fail to perform after being requested in writing so to perform and the Escrow Agent may from time to time take any other action which the Escrow Agent reasonably deems necessary for the maintenance, preservation or protection of any of the Pledged Collateral or of its security interest therein, all such actions being for the express benefit of the Noteholders and not Grantor. The expenses of the Escrow Agent incurred in exercising its rights under this Section 5.2 shall be payable by Grantor pursuant to the Note Purchase Agreement.
Protection of Pledged Collateral. If any Loan Party fails to comply with the provisions of any Finance Document, such that the value of any Pledged Collateral or the validity, perfection, rank or value of the Security Interest is thereby materially diminished or materially put at risk, the Collateral Agent may, but shall not be required to, effect such compliance on behalf of such Loan Party, and the Loan Parties shall reimburse the Collateral Agent for the out-of-pocket costs thereof within 10 Business Days of demand. Any and all excise, property, sales and use taxes imposed by any state, federal or local authority on any of the Pledged Collateral, or in respect of periodic appraisals of the Pledged Collateral, or in respect of the sale or other disposition thereof shall be borne and paid by the Loan Parties. If any Loan Party fails to promptly pay any portion thereof when due, the Collateral Agent may, at its option, but shall not be required to, pay the same and charge the Loan Parties’ account therefor, and the Loan Parties agree to reimburse the Collateral Agent therefor on demand. All sums so paid or incurred by the Collateral Agent for any of the foregoing and any and all other sums for which any Loan Party may become liable hereunder and all costs and expenses (including attorneys’ fees, legal expenses and court costs) reasonably incurred by the Collateral Agent in enforcing or protecting the Security Interest or any of its rights or remedies under this Agreement, shall, together with interest thereon until paid at the rate applicable to Revolving Base Rate Loans plus 2%, be additional Finance Obligations hereunder.
Protection of Pledged Collateral. The Company shall not have any obligations to protect, secure, perfect or insure any Pledged Collateral at any time held as security for the Obligations.
Protection of Pledged Collateral. The Secured Party may from time to time, at its option, perform any act which Pledgor agrees hereunder to perform and which Pledgor shall fail to perform after being requested in writing so to perform (it being understood that no such request need be given after the occurrence and during the continuance of any Event of Default) and the Secured Party may from time to time take any other action which the Secured Party reasonably deems necessary for the maintenance, preservation or protection of any of the Pledged Collateral or of its security interest therein, all such actions being for the express benefit of the Secured Party and not Pledgor.
