Right to Make Payments Sample Clauses
The "Right to Make Payments" clause grants one party the explicit authority to fulfill payment obligations on behalf of another party under certain circumstances. Typically, this clause applies when a party fails to make a required payment, allowing the other party to step in and pay directly to the creditor or third party. This mechanism ensures that critical payments are not missed, thereby preventing defaults, maintaining contractual relationships, and protecting the interests of the party exercising the right.
Right to Make Payments. In the event that Borrower shall fail to purchase or maintain insurance required hereunder, or to pay any tax, assessment, government charge or levy, except as the same may be otherwise permitted hereunder, or in the event that any Lien prohibited hereby shall not be paid in full or discharged, or in the event that Borrower shall fail to perform or comply with any other covenant, promise or obligation to TBCC hereunder or under any other Loan Document, TBCC may (but shall not be required to) perform, pay, satisfy, discharge or bond the same for the account of Borrower, and all amounts so paid by TBCC shall be treated as a Loan hereunder to Borrower and shall constitute part of the Obligations.
Right to Make Payments. In the event that Obligor shall fail to purchase or maintain insurance required hereunder, or to pay any tax, assessment, government charge or levy, except as the same may be otherwise permitted hereunder, or in the event that any Lien prohibited hereby shall not be paid in full or discharged, or in the event that Obligor shall fail to perform or comply with any other covenant, promise or obligation to TBCC hereunder or under any other Loan Document, TBCC may (but shall not be required to) perform, pay, satisfy, discharge or bond the same for the account of Obligor, and Obligor shall immediately reimburse TBCC for all amounts so paid by TBCC.
Right to Make Payments. In the event that Borrower shall fail to ---------------------- purchase or maintain insurance required hereunder, or to pay any tax, assessment, government charge or levy, except as the same may be otherwise permitted hereunder, or in the event that any Lien prohibited hereby shall not be paid in full or discharged, or TBCC Loan and Security Agreement ----------------------------------------------------------------- in the event that Borrower shall fail to perform or comply with any other covenant, promise or obligation to TBCC hereunder or under any other Loan Document, TBCC may (but shall not be required to) perform, pay, satisfy, discharge or bond the same for the account of Borrower, and all amounts so paid by TBCC shall be treated as a Loan hereunder to Borrower and shall constitute part of the Obligations.
Right to Make Payments. If Tenant shall at any time fail to pay any Imposition or utility cost or charge in accordance with the provisions of Article III hereof, or to take out, pay for, maintain or deliver any of the insurance policies or certificates therefor as provided for in Article V hereof, or shall fail to make any other payment or perform any other act on its part to be made or performed under this Lease, then Landlord, after ten (10) days notice to Tenant (or without notice in case of an emergency) and Tenant’s failure to cure the same with the time period, if any, allowed for such cure, and without waiving or releasing Tenant from any obligation of Tenant contained in this Lease or from any default by Tenant hereunder and without waiving Landlord’s right to take such action as may be permissible under this Lease as a result of such default, may (but shall be under no obligation to):
(a) pay any Imposition or other charge payable by Tenant pursuant to the provisions of Article III hereof, or
(b) take out, pay for and maintain any of the insurance policies provided for in Article V hereof, or
(c) make any other payment or perform any other act on Tenant’s part to be made or performed under this Lease, and may enter upon the Demised Premises for any such purpose, and take all such action thereon, as may be necessary therefor or in connection therewith.
Right to Make Payments. Notwithstanding references herein to payments from or by Borrower, any of Borrower, Sellers or any of their Affiliates shall be entitled to make any such payment.
Right to Make Payments. In the event that Borrower shall fail to perform or comply with any covenant, or obligation to TTFC hereunder or under any other Loan Document, TTFC may (but shall not be required to) perform, pay, satisfy, discharge or bond the same for the account of Borrower, and all amounts so paid by TTFC shall be treated as a Loan under the Loan Agreement to Borrower and shall constitute part of the Obligations.
Right to Make Payments. Whenever payments which should have been made under this Plan in accordance with this Article have been made under any other health plan, the Board of Trustees shall have the right, exercisable alone and at its sole discretion, to pay over to any organization making such other payments or, if appropriate, to a covered person, any amounts it shall determine to be warranted in order to satisfy the intent of this Article, and amounts so paid shall be deemed to be benefits provided under this Plan and, to the extent of such payments, this Plan shall be fully discharged from liability.
Right to Make Payments. UNDER THE LETTER OF CREDIT Each Issuing Bank and Fronting Bank shall be entitled to make any payment in accordance with the terms of the Letter of Credit without any reference to, or further authority from, the Company or any other investigation or enquiry. The Company irrevocably authorises each Issuing Bank and Fronting Bank to comply with any demand under the Letter of Credit which is valid on its face.