Common use of Secured Party’s Right to Perform Clause in Contracts

Secured Party’s Right to Perform. If Debtor fails to perform an obligation of Debtor under this Agreement, then Secured Party may, without giving notice to or obtaining the consent of Debtor, perform that obligation on behalf of Debtor. Debtor shall reimburse Secured Party on demand for any expense that Secured Party incurs in performing the obligation and shall pay to Secured Party interest on each expense, from the date the expense was incurred by Secured Party, at 5% per annum (“Default Rate”). Secured Party is not required to perform an obligation that Debtor has failed to perform. If Secured Party does so, then that shall not be a waiver of Secured Party’s right to declare the Indebtedness immediately due and payable by reason of Debtor’s failure to perform.

Secured Party’s Right to Perform. If Debtor fails to perform an any obligation of Debtor under this Agreement, then Secured Party may, may without giving notice to or obtaining the consent of Debtor’s consent, perform that obligation on behalf of Debtor. This may include without limitation, obtaining required insurance coverage for, or taxes or assessments or other liens relative to, the Collateral. Debtor shall reimburse Secured Party on demand for of any expense that Secured Party incurs in performing the obligation and shall pay to Secured Party interest on each expense, from the date the expense was such expenses incurred by Secured Party, and shall pay interest on such incurred sums at 5% the rate of 10 per cent per annum (“Default Rate”). from the date of the expense of Secured Party until paid in full by Debtor. In no event is not Secured Party required to perform an obligation that Debtor has failed to perform. If any of Debtor’s obligations, and in the event Secured Party does so, then that it shall not be a waiver of Secured Party’s right to declare an Event of Default or seek any other remedy under the Indebtedness immediately due and payable by reason of Debtor’s failure to performlaw.

Secured Party’s Right to Perform. If Debtor fails to perform an any obligation of Debtor under this Agreementagreement, then Secured Party may, without giving notice to or obtaining the consent of Debtor, perform that obligation on behalf of Debtor. For example, this may include obtaining insurance coverage for collateral or for paying off liens on collateral. Debtor shall will reimburse Secured Party on demand for any expense that Secured Party incurs in performing the obligation and shall pay to Secured Party interest on each expense, from the date the expense was incurred by Secured Party, at 5% per annum (“Default Rate”)any such obligation. Secured Party is not required to perform an obligation that Debtor has failed to perform. If Secured Party does so, then that shall will not be a waiver of Secured Party’s 's right to declare the Indebtedness indebtedness immediately due and payable by reason of Debtor’s 's failure to perform.

Secured Party’s Right to Perform. If Debtor Obligor fails to perform an obligation of Debtor Obligor under this Agreement, then Secured Party may, without giving notice to or obtaining the consent of DebtorObligor, perform that obligation on behalf of DebtorObligor. Debtor Obligor shall reimburse Secured Party on demand for any expense that Secured Party incurs in performing the obligation and shall pay to Secured Party interest on each expense, from the date the expense was incurred by Secured Party, at 5% per annum (“Default Rate”). Secured Party is not required to perform an obligation that Debtor Obligor has failed to perform. If Secured Party does so, then that shall not be a waiver of Secured Party’s right to declare the Indebtedness immediately due and payable by reason of DebtorObligor’s failure to perform.