Common use of Right to Perform, Preserve and Protect Clause in Contracts

Right to Perform, Preserve and Protect. If any Credit Party fails to perform any obligation hereunder or under any other Financing Document, Administrative Agent itself may, but shall not be obligated to, cause such obligation to be performed at Borrowers’ expense. Administrative Agent is further authorized by Borrowers and the Lenders to make expenditures from time to time following the occurrence and during the continuance of an Event of Default which Administrative Agent, in its reasonable business judgment, deems necessary or desirable to (a) preserve or protect the business conducted by Borrowers, the Collateral, or any portion thereof, and/or (b) enhance the likelihood of, or maximize the amount of, repayment of the Loan and other Obligations. Each Borrower hereby agrees to reimburse Administrative Agent on demand for any and all costs, liabilities and obligations incurred by Administrative Agent pursuant to this Section 10.8. Each Lender hereby agrees to indemnify Administrative Agent upon demand for any and all costs, liabilities and obligations incurred by Administrative Agent pursuant to this Section 10.8, in accordance with the provisions of Section 10.3.

Appears in 1 contract

Samples: Credit and Security Agreement (Seracare Life Sciences Inc)

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Right to Perform, Preserve and Protect. If any Credit Party fails to perform any obligation hereunder or under any other Financing Transaction Document, the Administrative Agent itself may, but shall not be obligated to, cause such obligation to be performed at Borrowers’ the Borrower’s expense. The Administrative Agent is further authorized by Borrowers the Borrower and the Lenders to make expenditures from time to time following which the occurrence and during the continuance of an Event of Default which Administrative Agent, in its reasonable business judgment, deems necessary or desirable to (a) preserve or protect the business conducted by Borrowersthe Borrower, the Collateral, or any portion thereof, and/or (b) enhance the likelihood of, or maximize the amount of, repayment of the Loan Loans and other Borrower Obligations. Each The Borrower hereby agrees to reimburse the Administrative Agent on demand for any and all costs, liabilities and obligations incurred by the Administrative Agent pursuant to this Section 10.811.17. Each Lender hereby agrees to indemnify the Administrative Agent upon demand for any and all costs, liabilities and obligations incurred by the Administrative Agent pursuant to this Section 10.811.17, in accordance with the provisions of Section 10.3.11.06. ARTICLE XII [RESERVED] ARTICLE XIII

Appears in 1 contract

Samples: Loan Agreement (Bird Global, Inc.)

Right to Perform, Preserve and Protect. If any Credit Loan Party fails to perform any obligation hereunder or under any other Financing Loan Document, the Administrative Agent itself may, but shall not be obligated to, cause such obligation to be performed at Borrowers’ the Borrower’s expense. The Administrative Agent is further authorized by Borrowers the Borrower and the Lenders to make expenditures from time to time following which the occurrence and during the continuance of an Event of Default which Administrative Agent, in its reasonable business judgment, deems necessary or desirable to (ai) preserve or protect the business conducted by Borrowers, the Collateral, or any portion thereof, Borrower and its Subsidiaries and the Collateral and/or (bii) enhance the likelihood of, or maximize the amount of, repayment of the Loan Loans and other Obligations. Each The Borrower hereby agrees to reimburse the Administrative Agent on demand for any and all costs, liabilities and obligations incurred by the Administrative Agent pursuant to this Section 10.810.12. Each Lender hereby agrees to indemnify the Administrative Agent upon demand for any and all costs, liabilities and obligations incurred by the Administrative Agent pursuant to this Section 10.8, in accordance with the provisions of Section 10.310.12.

Appears in 1 contract

Samples: Credit Agreement (Enovation Controls, Inc.)

Right to Perform, Preserve and Protect. If any Credit Party Restricted Person fails to perform any obligation hereunder or under any other Financing Loan Document, Administrative Agent itself may, but shall not be obligated to, cause such obligation to be performed at Borrowers’ Borrower’s expense. Administrative Agent is further authorized by Borrowers Borrower, Lenders and the Lenders LC Issuer to make expenditures from time to time following the occurrence and during the continuance of an Event of Default which that Administrative Agent, in its reasonable business judgment, deems necessary or desirable to (ai) preserve or protect the business conducted by BorrowersBorrower, the Collateral, or any portion thereof, thereof and/or (bii) enhance the likelihood of, or maximize the amount of, repayment of the Loan Loans and other Obligations. Each Borrower hereby agrees to reimburse Administrative Agent on demand for any and all costs, liabilities and obligations incurred by Administrative Agent pursuant to this Section 10.810.14. Each Lender hereby agrees to indemnify Administrative Agent upon demand for any and all costs, liabilities and obligations incurred by Administrative Agent pursuant to this Section 10.810.14, and all such amounts shall be deemed to be included within and covered by Borrower’s indemnification obligation more particularly described in accordance with the provisions Section 9.2 of Section 10.3this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Unit Corp)

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Right to Perform, Preserve and Protect. If any Credit Party fails to perform any obligation hereunder or under any other Financing Loan Document, the Administrative Agent itself may, but shall not be obligated to, cause such obligation to be performed at Borrowers’ the Borrower’s expense. The Administrative Agent is further authorized by Borrowers the Borrower, the Lenders, and the Lenders LC Issuer to make expenditures from time to time following that the occurrence and during the continuance of an Event of Default which Administrative Agent, in its reasonable business judgment, deems necessary or desirable to (a) preserve or protect the business conducted by Borrowersthe Borrower, the Collateral, or any portion thereof, thereof and/or (b) enhance the likelihood of, or maximize the amount of, repayment of the Loan Loans and the other Obligations. Each The Borrower hereby agrees to reimburse the Administrative Agent on demand for any and all costs, liabilities liabilities, and obligations incurred by the Administrative Agent pursuant to this Section 10.810.14. Each Lender hereby agrees to indemnify the Administrative Agent upon demand for any and all costs, liabilities liabilities, and obligations incurred by the Administrative Agent pursuant to this Section 10.810.14, and all such amounts shall be deemed to be included within and covered by the Borrower’s indemnification obligation more particularly described in accordance with the provisions Section 9.2 of Section 10.3.this Agreement. 110 [Credit Agreement]

Appears in 1 contract

Samples: Credit Agreement (Kolibri Global Energy Inc.)

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