Common use of Right to Make Advances Clause in Contracts

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. If In the event an advance of funds shall at any time be required in the reasonable judgment of the Collateral Agent, for the preservation or SHARING INTERCREDITOR AGREEMENT maintenance of any Shared Collateral, any Credit Agreement Secured Party, with the Senior consent of the Collateral Agent or (or, if the Second Priority Requisite Sharing Secured Parties shall have assumed the right and authority of the Collateral Agent as contemplated by Section 3.04(b), with the consent of the Requisite Sharing Secured Parties), shall be entitled to make such advance on behalf of, or in lieu of, the Collateral Trustee after reasonable notice to the Borrower and the other Representative Company of its intention to do so but without notice to any other Sharing 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 constitute a Collateral Trustee's Fee and shall be reimbursedrepaid as if such advance were a Collateral Trustee's Fee, with interest accrued from the date such advance was made at the applicable Default Rate, by the Borrower Company upon demand by the Senior Collateral Agent or the Second Priority Collateral AgentTrustee, and if the Borrower fails to comply with in any event, whether or not such demanddemand shall have been made, out of the proceeds of any Shared Collateral in accordance with the provisions distributed pursuant to clause FIRST of Section 3.014.01. If In the event any Sharing Secured Party shall receive any funds which, under this Section 2.043.05, belong to the Senior Collateral Agent Trustee or the Second Priority Collateral Agentany other Sharing Secured Party, such Sharing Secured Party shall remit such funds promptly to the Senior Collateral Agent or the Second Priority Collateral Agent Trustee for distribution to itselfthe Collateral Trustee or such other Sharing Secured Party, as the case may be, and before prior to such remittance shall hold such funds in trust for the Senior Collateral Agent Trustee or the Second Priority Collateral Agentsuch other Sharing Secured Party, as the case may be.

Right to Make Advances. If In the event an advance of funds shall at any time be required in the reasonable judgment of the Second Lien Term Loan Administrative Agent, for the preservation or maintenance of any Sharing Collateral, any Sharing Secured Party, with the Senior Collateral Agent or consent of the Second Priority Collateral Lien Term Loan Administrative Agent (or, if the Requisite Sharing Secured Parties shall have assumed the right and authority of the Second Lien Term Loan Administrative Agent as contemplated by Section 3.04(b), with the consent of the Requisite Sharing Secured Parties), shall be entitled to make such advance on behalf of, or in lieu of, the Collateral Trustee after reasonable notice to the Borrower and the other Representative Company of its intention to do so but without notice to any other Sharing 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 constitute a Collateral Trustee's Fee and shall be reimbursedrepaid as if such advance were a Collateral Trustee's Fee, with interest accrued from the date such advance was made at the applicable Default Rate, by the Borrower Company upon demand by the Senior Collateral Agent or the Second Priority Collateral AgentTrustee, and if the Borrower fails to comply with in any event, whether or not such demanddemand shall have been made, out of the proceeds of any Sharing Collateral in accordance with the provisions distributed pursuant to clause first of Section 3.014.01. If In the event any Sharing Secured Party shall receive any funds which, under this Section 2.043.05, belong to the Senior Collateral Agent Trustee or the Second Priority Collateral Agentany other Sharing Secured Party, such Sharing Secured Party shall remit such funds promptly to the Senior Collateral Agent or the Second Priority Collateral Agent Trustee for distribution to itselfthe Collateral Trustee or such other Sharing Secured Party, as the case may be, and before prior to such remittance shall hold such funds in trust for the Senior Collateral Agent Trustee or the Second Priority Collateral Agentsuch other Sharing Secured Party, as the case may be.