Common use of Protective Advances and Disbursements; Costs of Enforcement Clause in Contracts

Protective Advances and Disbursements; Costs of Enforcement. 3.9.1 If any Event of Default exists, Beneficiary shall have the right, but not the obligation, to cure such Event of Default in the name and on behalf of Grantor. All sums advanced and expenses incurred at any time by Beneficiary under this Section, or otherwise under this Deed of Trust or any of the other Loan Documents or applicable law, shall bear interest from the date that such sum is advanced or expense incurred, to and including the date of reimbursement, computed at the interest rate applicable to overdue Reimbursement Obligations under Section 2.14(c) of the Credit Agreement, and all such sums, together with interest thereon, shall be secured by this Deed of Trust. 3.9.2 Grantor shall pay all expenses (including reasonable attorneys' fees and expenses) of or incidental to the perfection and enforcement of this Deed of Trust and the other Loan Documents, or the enforcement, compromise or settlement of the Obligations or any claim under this Deed of Trust and the other Loan Documents, and for the curing thereof, or for defending or asserting the rights and claims of Beneficiary in respect thereof, by litigation or otherwise.

Appears in 3 contracts

Samples: Deed of Trust (M & F Worldwide Corp), Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (M & F Worldwide Corp), Deed of Trust (M & F Worldwide Corp)

AutoNDA by SimpleDocs

Protective Advances and Disbursements; Costs of Enforcement. 3.9.1 (a) If any Event of Default exists, Beneficiary Mortgagee shall have the right, but not the obligation, to cure such Event of Default in the name and on behalf of GrantorMortgagor. All sums advanced and expenses incurred at any time by Beneficiary Mortgagee under this Section, or otherwise under this Deed of Trust Mortgage or any of the other Loan Documents or applicable law, shall bear interest from the date that such sum is advanced or expense incurred, to and including the date of reimbursement, computed at the interest rate applicable to overdue Reimbursement Obligations under Section 2.14(c4.5(c) of the Credit Agreement, and all such sums, together with interest thereon, shall be secured by this Deed of TrustMortgage. 3.9.2 Grantor (b) Mortgagor shall pay all expenses (including reasonable attorneys' ’ fees and expenses) of or incidental to the perfection and enforcement of this Deed of Trust Mortgage and the other Loan Documents, or the enforcement, compromise or settlement of the Obligations or any claim under this Deed of Trust Mortgage and the other Loan Documents, and for the curing thereof, or for defending or asserting the rights and claims of Beneficiary Mortgagee in respect thereof, by litigation or otherwise.

Appears in 2 contracts

Samples: Credit Agreement (Auto Disposal of Memphis, Inc.), Credit Agreement (Carbuyco, LLC)

AutoNDA by SimpleDocs

Protective Advances and Disbursements; Costs of Enforcement. 3.9.1 4.9.1 If any Event of Default exists, Beneficiary shall have the right, but not the obligation, to cure such Event of Default in the name and on behalf of Grantor. All sums advanced and expenses incurred at any time by Beneficiary under this Section, or otherwise under this Deed of Trust or any of the other Loan Documents or applicable law, shall bear interest from the date that such sum is advanced or expense incurred, to and including the date of reimbursement, computed at the interest rate applicable to overdue Reimbursement Obligations under Section 2.14(c3.5(c) of the Credit Agreement, and all such sums, together with interest thereon, shall be secured by this Deed of Trust. 3.9.2 4.9.2 Grantor shall pay all expenses (including reasonable out-of-pocket attorneys' fees and expenses) of or incidental to the perfection and enforcement of this Deed of Trust and the other Loan Documents, or the enforcement, compromise or settlement of the Obligations or any claim under this Deed of Trust and the other Loan Documents, and for the curing thereof, or for defending or asserting the rights and claims of Beneficiary in respect thereof, by litigation or otherwise.

Appears in 1 contract

Samples: Second Lien Deed of Trust (Del Laboratories Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!