Common use of RIGHT TO PERFORM THE OBLIGATIONS Clause in Contracts

RIGHT TO PERFORM THE OBLIGATIONS. Subject to the terms of the Relevant Documents, if any default exists, Beneficiary shall have the right, but not the obligation, to cure such default in the name and on behalf of Grantor. All sums advanced and expenses incurred at any time by Beneficiary under this Section 19, or otherwise under this Deed of Trust or any of the other Relevant Documents or applicable law (including, without limitation, the costs and expenses of Beneficiary and its agents incurred in connection with the preservation, collection and enforcement of this Deed of Trust or of the liens created hereby), shall bear interest from the date that such sum is advanced or expense incurred, to and including the date of reimbursement, computed at the rate of thirteen and one-half percent (13.5%) per annum, and all such sums, together with interest thereon, shall constitute additions to the Obligations and shall be secured by this Deed of Trust and Grantor covenants and agrees to pay them to the order of the Beneficiary promptly upon demand.

RIGHT TO PERFORM THE OBLIGATIONS. Subject to the terms of the Relevant Documents, if any default exists, Beneficiary shall have the right, but not the obligation, to cure such default in the name and on behalf of Grantor. All sums advanced and expenses incurred at any time by Beneficiary under this Section 19, or otherwise under this Deed of Trust or any of the other Relevant Documents or applicable law (including, without limitation, the costs and expenses of Beneficiary and its agents incurred in connection with the preservation, collection and enforcement of this Deed of Trust or of the liens created hereby), shall bear interest from the date that such sum is advanced or expense incurred, to and including the date of reimbursement, computed at the rate of thirteen and one-half percent Default Rate (13.5%) per annumas defined in the Notes), and all such sums, together with interest thereon, shall constitute additions to the Obligations and shall be secured by this Deed of Trust and Grantor covenants and agrees to pay them to the order of the Beneficiary promptly upon demand.