Common use of Subsidiary Guarantor’s Further Agreements to Pay Clause in Contracts

Subsidiary Guarantor’s Further Agreements to Pay. The Subsidiary Guarantor further agrees, as the principal obligor and not as a guarantor only, to pay to each Bank and the Administrative Agent forthwith upon demand, in funds immediately available to such Bank or the Administrative Agent, all costs and expenses (including court costs and legal fees and expenses) incurred or expended by the Administrative Agent or such Bank in connection with this Subsidiary Guaranty and the enforcement hereof, together with interest on amounts recoverable under this Subsidiary Guaranty from the time after such amounts become due at the default rate of interest set forth in the Loan Agreement; provided that if such interest exceeds the maximum amount permitted to be paid under applicable law, then such interest shall be reduced to such maximum permitted amount.

Appears in 5 contracts

Samples: Loan Agreement (Avalonbay Communities Inc), Loan Agreement (Avalonbay Communities Inc), Loan Agreement (Avalonbay Communities Inc)

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Subsidiary Guarantor’s Further Agreements to Pay. The Each Subsidiary Guarantor further jointly and severally agrees, as the principal obligor and not as a guarantor only, to pay to each Bank Lender and the Administrative Agent forthwith upon demand, in funds immediately available to such Bank Lender or the Administrative Agent, all costs and expenses (including court costs and legal fees and expenses) incurred or expended by the Administrative Agent or such Bank Lender in connection with this Amended and Restated Subsidiary Guaranty and the enforcement hereof, together with interest on amounts recoverable under this Amended and Restated Subsidiary Guaranty from the time after such amounts become due at the default rate of interest set forth in the Loan Credit Agreement; provided that if such interest exceeds the maximum amount permitted to be paid under applicable law, then such interest shall be reduced to such maximum permitted amount.

Appears in 1 contract

Samples: Subsidiary Guaranty (FelCor Lodging Trust Inc)

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Subsidiary Guarantor’s Further Agreements to Pay. The Each Subsidiary Guarantor further jointly and severally agrees, as the principal obligor and not as a guarantor only, to pay to each Bank Lender and the Administrative Agent forthwith upon demand, in funds immediately available to such Bank Lender or the Administrative Agent, all costs and expenses (including court costs and legal fees and expenses) incurred or expended by the Administrative Agent or such Bank Lender in connection with this Subsidiary Guaranty and the enforcement hereof, together with interest on amounts recoverable under this Subsidiary Guaranty from the time after such amounts become due at the default rate of interest set forth in the Loan Credit Agreement; provided that if such interest exceeds the maximum amount permitted to be paid under applicable law, then such interest shall be reduced to such maximum permitted amount.

Appears in 1 contract

Samples: Subsidiary Guaranty (FelCor Lodging Trust Inc)

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