Common use of Right of Pledgee to Perform Pledgor's Covenants, Etc Clause in Contracts

Right of Pledgee to Perform Pledgor's Covenants, Etc. If any Pledgor fails to make any payment or to perform any agreement required to be made or performed hereunder, the Pledgee may (but need not) at any time thereafter make such payment or perform such act, or otherwise cause such payment or performance. No such action will create any liability to any Pledgor on the part of the Pledgee. All amounts so paid by the Pledgee and all costs and expenses (including, without limitation, attorneys' fees and expenses) incurred by the Pledgee in any such performance shall accrue interest from the date paid or disbursed until reimbursed to the Pledgee in full by or on behalf of the Pledgors at the rate established in Section 6.5. All such amounts shall constitute additional indebtedness of the Pledgors secured hereunder and shall be payable on demand.

Right of Pledgee to Perform Pledgor's Covenants, Etc. If any Pledgor fails to make any payment or to perform any agreement required to be made or performed hereunderhereunder after notice and opportunity to cure, the Pledgee may (but need not) at any time thereafter make such payment or perform such act, or otherwise cause such payment or performance. No such action will create any liability to any Pledgor on the part of the Pledgee. All amounts so paid by the Pledgee and all costs and expenses (including, without limitation, attorneys' fees and expenses) incurred by the Pledgee in any such performance shall accrue interest from the date paid or disbursed until reimbursed to the Pledgee in full by or on behalf of the Pledgors at the rate established in Section 6.5of 12% per annum. All such amounts shall constitute additional indebtedness of the Pledgors secured hereunder and shall be payable on demand.