Common use of SELLER'S RIGHT TO PAY Clause in Contracts

SELLER'S RIGHT TO PAY. In the event the Purchaser fails to make any payment of taxes, assessments, insurance premiums or other charges that the Purchaser is required to pay to third parties under this Agreement, the Seller shall have the right, but not the obligation, to make such payment. The Purchaser will reimburse the Seller for any such payment immediately upon the Seller's demand, together with interest at the prevailing rate from the date of the Seller's payment until the date the Purchaser reimburses the Seller. Any such payment by the Seller shall not constitute a waiver by the Seller of any remedy available by reason of the Purchaser's default for failure to make such payment.

SELLER'S RIGHT TO PAY. In the event the Purchaser fails to make any payment of taxes, assessments, insurance premiums premiums, or other charges that the Purchaser is required to pay to third parties under this Agreement, the Seller shall have the right, but not the obligation, to make such paymentpay the same. The Purchaser will reimburse the Seller for any such payment immediately upon the Seller's demand, together with interest at the prevailing prime rate as published in the Wall Street Journal from time to time plus 3% from the date of the Seller's payment until the date the Purchaser reimburses the Seller. Any such payment by the Seller shall not constitute a waiver by the Seller of any remedy available by reason of the Purchaser's default for failure to make such paymentthe payments.