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

Protective Advances and Disbursements; Costs of Enforcement. 4.9.1 If any Event of Default exists, Mortgagee shall have the right, but not the obligation, to cure such Event of Default in the name and on behalf of Mortgagor. All sums advanced and expenses incurred at any time by Mortgagee under this Section, or otherwise under this Mortgage or any of the other Financing 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 the Notes, and all such sums, together with interest thereon, shall be secured by this Mortgage. 4.9.2 Mortgagor shall pay all expenses (including reasonable attorneys’ fees and expenses) of or incidental to the perfection and enforcement of this Mortgage and the other Financing Documents, or the enforcement, compromise or settlement of the Obligations or any claim under this Mortgage and the other Financing Documents, and for the curing thereof, or for defending or asserting the rights and claims of Mortgagee in respect thereof, by litigation or otherwise.

Appears in 2 contracts

Samples: Indenture (Edgen Group Inc.), Indenture (Edgen Murray II, L.P.)

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Protective Advances and Disbursements; Costs of Enforcement. 4.9.1 (a) If any Event of Default exists, Mortgagee shall have the right, but not the obligation, to cure such Event of Default in the name and on behalf of Mortgagor. All sums advanced and expenses incurred at any time by Mortgagee under this Section, or otherwise under this Mortgage or any of the other Financing 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 4.5(c) of the NotesAmended and Restated Credit Agreement, and all such sums, together with interest thereon, shall be secured by this Mortgage. 4.9.2 (b) Mortgagor shall pay all expenses (including reasonable attorneys’ fees and expenses) of or incidental to the perfection and enforcement of this Mortgage and the other Financing Loan Documents, or the enforcement, compromise or settlement of the Obligations or any claim under this Mortgage and the other Financing Loan Documents, and for the curing thereof, or for defending or asserting the rights and claims of Mortgagee in respect thereof, by litigation or otherwise.

Appears in 1 contract

Samples: Amendment and Restatement Agreement (KAR Auction Services, Inc.)

Protective Advances and Disbursements; Costs of Enforcement. 4.9.1 3.9.1 If any Event of Default exists, Mortgagee shall have the right, but not the obligation, to cure such Event of Default in the name and on behalf of Mortgagor. All sums advanced and expenses incurred at any time by Mortgagee under this Section, or otherwise under this Mortgage or any of the other Financing 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 NotesCredit Agreement, and all such sums, together with interest thereon, shall be secured by this Mortgage. 4.9.2 3.9.2 Mortgagor shall pay all expenses (including reasonable attorneys' fees and expenses) of or incidental to the perfection and enforcement of this Mortgage and the other Financing Loan Documents, or the enforcement, compromise or settlement of the Obligations or any claim under this Mortgage and the other Financing Loan Documents, and for the curing thereof, or for defending or asserting the rights and claims of Mortgagee in respect thereof, by litigation or otherwise.

Appears in 1 contract

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

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Protective Advances and Disbursements; Costs of Enforcement. 4.9.1 3.9.1 If any Event of Default exists, Mortgagee shall have the right, but not the obligation, to cure such Event of Default in the name and on behalf of Mortgagor. All sums advanced and expenses incurred at any time by Mortgagee under this Section, or otherwise under this Mortgage or any of the other Financing 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 4.5(c) of the NotesCredit Agreement, and all such sums, together with interest thereon, shall be secured by this Mortgage. 4.9.2 3.9.2 Mortgagor shall pay all expenses (including reasonable attorneys’ fees and expenses) of or incidental to the perfection and enforcement of this Mortgage and the other Financing Loan Documents, or the enforcement, compromise or settlement of the Obligations or any claim under this Mortgage and the other Financing Loan Documents, and for the curing thereof, or for defending or asserting the rights and claims of Mortgagee in respect thereof, by litigation or otherwise.

Appears in 1 contract

Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing for Commercial Purposes (IAA Acquisition Corp.)

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