Right to Make Advances. If an advance of funds shall at any time be required for the preservation or maintenance of any Collateral, then, upon three Business Days' notice to the Company, the Trustee shall be entitled (but shall not be obligated) to make such advance. Each such advance shall be reimbursed, with interest from the date such advance was made at the rate per annum then borne by the Notes, by the Company, upon demand by the Trustee, and if the Company fails to comply with any such demand, out of Trust Moneys. Any funds advanced by the Trustee pursuant to this Section 5.02 for the preservation or maintenance of Collateral shall be Secured Obligations hereunder.
Right to Make Advances. If an advance of funds shall at any time be required for the preservation or maintenance of any Collateral, the Senior Collateral Agent, the Second Priority Collateral Trustee or any Secured Party shall be entitled to make such advance after notice to Rite Aid and the Representatives of its intention to do so but without notice to any other Secured Party. Each such advance shall be reimbursed, with interest accrued from the date such advance was made at the Default Rate, by Rite Aid upon demand by the Senior Collateral Agent, the Second Priority Collateral Trustee or such Secured Party, and if Rite Aid fails to comply with any such demand, out of the proceeds of any Collateral in accordance with the provisions of Section 4.01 (b) or (c). If any Secured Party shall receive any funds which, under this Section 2.04, belong to the Senior Collateral Agent, the Second Priority Collateral Trustee or any other Secured Party, such Secured Party shall remit such funds promptly to the Senior Collateral Agent or the Second Priority Collateral Trustee for distribution to itself or such other Secured Party, as the case may be, and before such remittance shall hold such funds in trust for the Senior Collateral Agent, the Second Priority Collateral Trustee or such other Secured Party, as the case may be.
Right to Make Advances. If Borrower shall fail to pay any Taxes or insurance premiums in accordance with this Article and is not contesting such charges in accordance with the terms hereof, then Lender or Trustee shall have the right, but not the obligation, to advance such Taxes or insurance premium. Borrower shall repay Lender or Trustee, as the case may be, on demand, any amount so advanced by Lender or Trustee, as the case may be, with interest thereon at the Default Rate from the date of the advance to the date of repayment.
Right to Make Advances. If an advance of funds shall at any time be required for the preservation or maintenance of any Collateral, the Senior Collateral Agent or the Second Priority Collateral Agent shall be entitled to make such advance after notice to the Borrower and the other Representative of its intention to do so but without notice to any other Secured Party; provided that the Second Priority Collateral Agent shall not be entitled to make any such advance unless (a) it shall have given at least two days' prior notice to the Senior Collateral Agent of its intention to do so and (b) the Senior Collateral Agent shall not have objected during such two day period to the Second Priority Collateral Agent making such advance (such objection, if any, to be received by the Second Priority Collateral Agent during such two day period). Each such advance shall be reimbursed, with interest accrued from the date such advance was made at the Default Rate, by the Borrower upon demand by the Senior Collateral Agent or the Second Priority Collateral Agent, and if the Borrower fails to comply with any such demand, out of the proceeds of any Collateral in accordance with the provisions of Section 3.01. If any Secured Party shall receive any funds which, under this Section 2.04, belong to the Senior Collateral Agent or the Second Priority Collateral Agent, such Secured Party shall remit such funds promptly to the Senior Collateral Agent or the Second Priority Collateral Agent for distribution to itself, and before such remittance shall hold such funds in trust for the Senior Collateral Agent or the Second Priority Collateral Agent, as the case may be.
Right to Make Advances. In the event an advance of funds shall at any time be required for the preservation or maintenance of any Collateral, the Collateral Trustee or any Senior Lender shall be entitled to make such advance after notice to AWNA of its intention to do so but without notice to any other Secured Party. Each such advance shall be reimbursed, with interest accrued from the date such advance was made at the rate set forth in Section 2.13(c) of the Credit Agreement ("Default Rate"), by AWNA upon demand by the Collateral Trustee or such Lender, and if AWNA fails to comply with any such demand, out of the proceeds of any Collateral distributed pursuant to clause First of Section 4.01. In the event any Secured Party shall receive any funds which, under this Section 2.04, belong to the Collateral Trustee or any other Secured Party, such Secured Party shall remit such funds promptly to the Collateral Trustee for distribution to the Collateral Trustee or such other Secured Party, as the case may be, and prior to such remittance shall hold such funds in trust for the Collateral Trustee or such other Secured Party, as the case may be.
Right to Make Advances. If an advance of funds shall at any time be required for the preservation or maintenance of any Collateral, then, upon three Business Days' notice to the applicable Obligor, the Collateral Agent or either Secured Party shall be entitled (but shall not be obligated) to make such advance (it being understood that the Trustee shall not be obligated to make any such advance other than in accordance with the terms of the Indenture and that the Term Loan Agent shall not be obligated to make any such advance other than in accordance with the terms of the Term Loan Agreement). Each such advance shall be reimbursed, with interest from the date such advance was made (at the rate initially borne by the Notes or the Term Loan Notes, as applicable), by the applicable Obligor, upon demand by the Collateral Agent or such Secured Party, as the case may be, and if the applicable Obligor fails to comply with any such demand, out of the proceeds of any sale of or other realization 13 13 upon any Collateral distributed pursuant to clause FIRST of Section 4.1. In the event either Secured Party shall receive any funds which, under this Section 2.4, belong to the Collateral Agent or the other Secured Party, such Secured Party shall remit such funds promptly to the Collateral Agent for distribution to the Collateral Agent or such other Secured Party, as the case may be, and prior to such remittance shall hold such funds in trust for the Collateral Agent or such other Secured Party, as the case may be.
Right to Make Advances. If an advance of funds shall at any time be required for the preservation or maintenance of any Collateral, then, upon three (3) Business Days' notice to the applicable Grantor, the Collateral Agent or any other Secured Party shall be entitled (but shall not be obligated) to make such advance. Each such advance shall be reimbursed, with interest at the rate set forth in Section 8.01(a) from the date such advance was made by the applicable Grantor, upon demand by the Collateral Agent or the other Secured Party, as the case may be, and if the applicable Grantor fails to comply with any such demand, such advance shall be reimbursed out of the proceeds of any sale of or other realization upon any Collateral distributed pursuant to clause (i) of Section 10.04. If any Secured Party shall receive any funds which, under this Section 6.02, belong to any other Secured Party, it shall remit such funds promptly to such other Secured Party, and prior to such remittance shall hold such funds in trust for such other Secured Party.
Right to Make Advances. Upon a default, Noteholder may, at its option, advance or disburse funds for the performance of any term, warranty, covenant, condition, or obligation contained in any Loan Document. All sums advanced or disbursed by Noteholder for performance of any such term, warranty, covenant, condition or obligation shall bear interest at the Default Rate until paid, shall be secured hereby, and held to be a prior charge to the lien of this Deed of Trust upon foreclosure, and shall be paid by Grantor upon demand. Failure to pay on demand shall constitute an Event of Default.
Right to Make Advances. Upon the occurrence and during the continuance of an Event of Default, such Event of Default not having previously been waived, remedied or cured, Second Priority Collateral Agent shall have the right to advance or disburse funds for the performance of any term, warranty, covenant, condition, or obligation contained in this Deed of Trust. All sums advanced or disbursed by Second Priority Collateral Agent for performance of any such term, warranty, covenant, condition or obligation shall bear interest at the Default Rate from and after the date that is ten (10) Business Days after written demand therefor until paid, and such amounts, together with any amounts advanced or disbursed for the performance of any term, warranty, covenant, condition or obligation contained in any other Subordinated Lien Debt Document shall be secured hereby, and held to be a prior charge to the lien of this Deed of Trust upon foreclosure, and shall be paid by Grantor upon demand. Failure to pay within ten (10) Business Days after written demand shall constitute an Event of Default.
Right to Make Advances. If the Mortgagor should fail to pay or perform any of its Obligations with respect to the Mortgaged Property as required under Article III and Article IV of this Mortgage, or otherwise fails to pay or perform any of its other Obligations under this or any other Loan Document, then the Mortgagee, at its election, shall have the right, but not the obligation, to make any payment or expenditure and to take any action which the Mortgagor should have made or taken or which the Mortgagee deems advisable to protect the security of this Mortgage or the Mortgaged Property. Such action shall be without prejudice to any of the Mortgagee's rights or remedies available under this Mortgage or the other Loan Documents or otherwise at law or in equity. All such sums, as well as costs and expenses reasonably advanced by the Mortgagee shall be due immediately from the Mortgagor to the Mortgagee, shall become part of the Obligations secured by this Mortgage and the other Loan Documents, and shall bear interest (including any judgment obtained on account of any of the Obligations) at the applicable "post default rate of interest" provided in Section 10.1 of the Reimbursement Agreement in effect after maturity or default (the "Default Rate") until repayment in full to the Mortgagee.
