Common use of Secured Party May Perform Clause in Contracts

Secured Party May Perform. The Secured Party may from time-to-time perform any act which a Grantor has agreed hereunder to perform and which such Grantor shall fail to perform after being requested in writing so to perform (it being understood that no such request need be given after the occurrence and during the continuance of any Event of Default and after notice thereof by the Secured Party to such Grantor) and the Secured Party may from time-to-time take any other action which the Secured Party reasonably deems necessary for the maintenance, preservation or protection of any of the Collateral or of its security interest therein, and the reasonable expenses of the Secured Party incurred in connection therewith shall be part of the Secured Obligations and shall be secured hereby.

Appears in 4 contracts

Samples: Credit Agreement (Mariner Energy Resources, Inc.), Credit Agreement (Mariner Energy Inc), Credit Agreement (Mariner Energy Resources, Inc.)

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Secured Party May Perform. The Secured Party may from time-to-time perform any act which a any Grantor has agreed hereunder to perform and which such Grantor shall fail to promptly perform after being requested in writing to so to perform (it being understood that no such request need be given after the occurrence and during the continuance of any Event of Default and after notice thereof by the Secured Party to such any Grantor) and the Secured Party may from time-to-time take any other action which the Secured Party deems reasonably deems necessary for the maintenance, preservation or protection of any of the Collateral or of its security interest therein, and the reasonable expenses of the Secured Party incurred in connection therewith shall be part of the Secured Obligations and shall be secured hereby.

Appears in 3 contracts

Samples: Credit Agreement (Holly Energy Partners Lp), Security Agreement (Holly Energy Partners Lp), Credit Agreement (Holly Energy Partners Lp)

Secured Party May Perform. The Secured Party may from time-to-time perform any act which a Grantor has agreed hereunder to perform and which such the Grantor shall fail to perform after being requested in writing so to perform (it being understood that no such request need be given after the occurrence and during the continuance of any Event of Default and after notice thereof by the Secured Party to such Grantor) and the Secured Party may from time-to-time take any other action which the Secured Party reasonably deems necessary for the maintenance, preservation or protection of any of the Collateral or of its security interest therein, and the reasonable expenses of the Secured Party incurred in connection therewith shall be part of the Secured Obligations and shall be secured hereby.

Appears in 1 contract

Samples: Security Agreement (Fuelcell Energy Inc)

Secured Party May Perform. The Secured Party may from time-to-time to time perform any act which a any Grantor has agreed hereunder to perform and which such Grantor shall fail to promptly perform after being requested in writing to so to perform (it being understood that no such request need be given after the occurrence and during the continuance of any Event of Default and after notice thereof by the Secured Party to such any Grantor) and the Secured Party may from time-to-time to time take any other action which the Secured Party deems reasonably deems necessary for the maintenance, preservation or protection of any of the Collateral or of its security interest therein, and the reasonable expenses of the Secured Party incurred in connection therewith shall be part of the Secured Obligations and shall be secured hereby.

Appears in 1 contract

Samples: Credit Agreement (Holly Energy Partners Lp)

Secured Party May Perform. The Secured Party may from time-to-time perform any act which a any Grantor has agreed hereunder to perform and which such Grantor shall fail to perform after being requested in writing to so to perform (it being understood that no such request need be given after the occurrence and during the continuance of any Event of Default and after notice thereof by the Secured Party to such any Grantor) and the Secured Party may from time-to-time take any other action which the Secured Party deems reasonably deems necessary for the maintenance, preservation or protection of any of the Collateral or of its security interest therein, and the reasonable expenses of the Secured Party incurred in connection therewith shall be part of the Secured Obligations and shall be secured hereby.

Appears in 1 contract

Samples: Security Agreement (Holly Energy Partners Lp)

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Secured Party May Perform. The Secured Party may from time-to-time perform any act which a any Grantor has agreed hereunder to perform and which such Grantor shall fail to perform after being requested in writing so receiving ten (10) days prior written notice of the request to perform (it being understood that no such request need be given (a) after the occurrence and during the continuance of any Event of Default and after notice thereof by the Secured Party to any Grantor or (b) if such Grantorfailure to perform would have an adverse effect on the perfection of any security interest granted under this Security Agreement or would materially adverse effect on the value of the applicable Collateral) and the Secured Party may from time-to-time take any other action which the Secured Party reasonably deems necessary for the maintenance, preservation or protection of any of the Collateral or of its security interest therein, and the reasonable expenses of the Secured Party incurred in connection therewith shall be part of the Secured Obligations and shall be secured hereby.

Appears in 1 contract

Samples: Credit Agreement (Callon Petroleum Co)

Secured Party May Perform. The Secured Party may from time-to-time perform any act which a any Grantor has agreed hereunder to perform and which such Grantor shall fail to perform after being requested in writing so to perform (it being understood that no such request need be given after the occurrence and during the continuance of any Event of Default and after notice thereof by the Secured Party to such any Grantor) and the Secured Party may from time-to-time take any other action which the Secured Party reasonably deems necessary for the maintenance, preservation or protection of any of the Collateral or of its security interest therein, and the reasonable expenses of the Secured Party incurred in connection therewith shall be part of the Secured Obligations and shall be secured hereby.

Appears in 1 contract

Samples: Security Agreement (National Coal Corp)

Secured Party May Perform. The Secured Party may from time-to-time perform any act which a any Grantor has agreed hereunder to perform and which such Grantor shall fail to perform after being requested in writing so to perform (it being understood that no such request need be given (a) after the occurrence and during the continuance of any Event of Default and after notice thereof by or (b) if such failure to perform would have an adverse effect on the Secured Party to such Grantorperfection of any security interest granted under this security agreement or would have a materially adverse effect on the value of any Collateral) and the Secured Party may from time-to-time take any other action which the Secured Party reasonably deems necessary for the maintenance, preservation or protection of any of the Collateral or of its security interest therein, and the reasonable expenses of the Secured Party incurred in connection therewith shall be part of the Secured Obligations and shall be secured hereby.

Appears in 1 contract

Samples: Credit Agreement (Isramco Inc)

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