Common use of REIMBURSEMENT OF GOVERNMENT EXPENDITURES Clause in Contracts

REIMBURSEMENT OF GOVERNMENT EXPENDITURES. The Borrower will reimburse the Government for any and all expenditures which the Government may reasonably elect to make from time to time to protect the security granted hereunder (in the event of the Borrower’s failure to do so), including, without limitation of the foregoing, payment of taxes, repairs, insurance premiums, the discharge of any lien, libel or seizure of the Vessel, and expenses incurred by the Government in retaking the Vessel; and any such payment made by the Government shall be for the account of the Borrower, and the making thereof by the Government shall not cure the Borrower’s default in that regard nor constitute a waiver of any right or remedy granted to the Government hereunder, and all reasonable sums so expended by the Government or any liability incurred by it shall be immediately due and payable and shall be deemed to be an indebtedness of the Borrower and secured by this Mortgage, and until paid shall bear interest at the same rate as that provided in the Note.

REIMBURSEMENT OF GOVERNMENT EXPENDITURES. The Borrower BORROWER will reimburse the Government GOVERNMENT for any and all expenditures which the Government GOVERNMENT may reasonably elect to make from time to time to protect the security granted hereunder (in the event of the Borrower’s BORROWER'S failure to do so), including, without limitation of the foregoing, payment of taxes, repairs, insurance premiums, the discharge of any lien, libel or seizure of the Vessel, and expenses incurred by the Government GOVERNMENT in retaking the Vessel; and any such payment made by the Government GOVERNMENT shall be for the account of the BorrowerBORROWER, and the making thereof by the Government GOVERNMENT shall not cure the Borrower’s BORROWER'S default in that regard nor constitute a waiver of any right or remedy granted to the Government GOVERNMENT hereunder, and all reasonable sums so expended by the Government GOVERNMENT or any liability incurred by it shall be immediately due and payable and shall be deemed to be an indebtedness of the Borrower BORROWER and secured by this Mortgage, and until paid shall bear interest at the same rate as that provided in the Promissory Note.

REIMBURSEMENT OF GOVERNMENT EXPENDITURES. The Borrower BORROWER will reimburse the Government GOVERNMENT for any and all expenditures which the Government GOVERNMENT may reasonably elect to make from time to time to protect the security granted hereunder (in the event of the Borrower’s BORROWER'S failure to do so), including, without limitation of the foregoing, payment of taxes, repairs, insurance premiums, the discharge of any lien, libel or seizure of the VesselVESSEL, and expenses incurred by the Government GOVERNMENT in retaking the VesselVESSEL; and any such payment made by the Government GOVERNMENT shall be for the account of the BorrowerBORROWER, and the making thereof by the Government GOVERNMENT shall not cure the Borrower’s BORROWER'S default in that regard nor constitute a waiver of any right or remedy granted to the Government GOVERNMENT hereunder, and all reasonable sums so expended by the Government GOVERNMENT or any liability incurred by it shall be immediately due and payable and shall be deemed to be an indebtedness of the Borrower BORROWER and secured by this Mortgage, and until paid shall bear interest at the same rate as that provided in the Promissory Note.

REIMBURSEMENT OF GOVERNMENT EXPENDITURES. The Borrower BORROWER will reimburse the Government GOVERNMENT for any and all expenditures which the Government GOVERNMENT may reasonably elect to make from time to time to protect the security granted hereunder (in the event of the Borrower’s BORROWER'S failure to do so), including, without limitation of the foregoing, payment of taxes, repairs, insurance premiums, the discharge of any lien, libel or seizure of the Vesselvessel, and expenses incurred by the Government GOVERNMENT in retaking the Vesselvessel; and any such payment made by the Government GOVERNMENT shall be for the account of the BorrowerBORROWER, and the making thereof by the Government GOVERNMENT shall not cure the Borrower’s BORROWER's default in that regard nor constitute a waiver of any right or remedy granted to the Government GOVERNMENT hereunder, and all reasonable sums so expended by the Government GOVERNMENT or any liability incurred by it shall be immediately due and payable and shall be deemed to be an indebtedness of the Borrower BORROWER and secured by this Mortgage, and until paid shall bear interest at the same rate as that provided in the Promissory Note.

REIMBURSEMENT OF GOVERNMENT EXPENDITURES. The Borrower will reimburse the Government for any and all expenditures which the Government may reasonably elect to make from time to time to protect the security granted hereunder (in the event of the Borrower’s 's failure to do so), including, without limitation of the foregoing, payment of taxes, repairs, insurance premiums, the discharge of any lien, libel or seizure of the Vessel, and expenses incurred by the Government in retaking the Vessel; and any such payment made by the Government shall be for the account of the Borrower, and the making thereof by the Government shall not cure the Borrower’s 's default in that regard nor constitute a waiver of any right or remedy granted to the Government hereunder, and all reasonable sums so expended by the Government or any liability incurred by it shall be immediately due and payable and shall be deemed to be an indebtedness of the Borrower and secured by this Mortgage, and until paid shall bear interest at the same rate as that provided in the Note.