XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 21 contracts
Samples: Business Loan Agreement (Ames National Corp), Business Loan Agreement (LFTD Partners Inc.), Business Loan Agreement (Lodging Fund REIT III, Inc.)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 21 contracts
Samples: Business Loan Agreement (Heritage Global Inc.), Business Loan Agreement (Heritage Global Inc.), Business Loan Agreement (Allied Esports Entertainment, Inc.)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 7 contracts
Samples: Security Agreement (Arts Way Manufacturing Co Inc), Security Agreement (Ourpets Co), Commercial Security Agreement (American Consumers Inc)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's Lender’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 7 contracts
Samples: Security Agreement, Business Loan Agreement (Loyalty Alliance Enterprise Corp), Business Loan Agreement (Utek Corp)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect XxxxxxLender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 4 contracts
Samples: Business Loan Agreement (Ministry Partners Investment Corp), Business Loan Agreement (Ministry Partners Investment Corp), Business Loan Agreement (Ministry Partners Investment Corp)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may m ay (but shall not be obligated to) pay any such amounts and take any action that Lender deems appropriate, including but not limited appropriate to discharging discharge or paying pay all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying pay all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 4 contracts
Samples: Business Loan Agreement (Hancock Park Corporate Income, Inc.), Business Loan Agreement (OFS Capital Corp), Business Loan Agreement (Hancock Park Corporate Income, Inc.)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect XxxxxxLender's interest Interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the Note rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All To the extent permitted by applicable law, all such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) 8) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 3 contracts
Samples: Business Loan Agreement (XPEL, Inc.), Business Loan Agreement (XPEL, Inc.), Loan Agreement (XPEL, Inc.)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 3 contracts
Samples: Business Loan Agreement (Golf Trust of America Inc), Business Loan Agreement (Gta-Ib, LLC), Business Loan Agreement (IsoRay, Inc.)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's Lender’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, to the extent permitted by applicable law, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 2 contracts
Samples: Business Loan Agreement (Innsuites Hospitality Trust), Business Loan Agreement (Innsuites Hospitality Trust)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and or other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note Credit Agreement from the date incurred or paid by Lender Xxxxxx to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; : (B) be added to the balance of the Note Credit Agreement and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the NoteCredit Agreement; or (C) be treated as a balloon payment which will be due and payable at the Note's Credit Agreement’s maturity.. BUSINESS LOAN AGREEMENT NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is in effect, Borrower shall not, without the prior written consent of Lender:
Appears in 2 contracts
Samples: Commercial Pledge Agreement (Laird Superfood, Inc.), Commercial Pledge Agreement (Laird Superfood, Inc.)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's Lender’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon the occurrence of any Event of Default.
Appears in 2 contracts
Samples: Commercial Pledge Agreement (Landsea Holdings Corp), Lodging Fund REIT III, Inc.
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's Lender’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note Credit Agreement from the date incurred or paid by Lender Xxxxxx to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note Credit Agreement and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the NoteCredit Agreement; or (C) be treated as a balloon payment which will be due and payable at the Note's Credit Agreement’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 2 contracts
Samples: Commercial Pledge Agreement (Laird Superfood, Inc.), Commercial Pledge Agreement (Laird Superfood, Inc.)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.. BUSINESS LOAN AGREEMENT (ASSET BASED) (Continued) Loan No: 281007262
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect XxxxxxLender's interest Interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the Note rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All To the extent permitted by applicable law, all such expenses will become a part of the Indebtedness indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's Lender’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear near interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitles upon Default.
Appears in 1 contract
Samples: Aircraft Security Agreement (Skyway Communications Holding Corp)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time after the date of this Agreement levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the Note rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at LenderXxxxxx's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will xxxx be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
Samples: Commercial Security Agreement (Granite Falls Energy, LLC)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at LenderXxxxxx's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; BUSINESS LOAN AGREEMENT or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including including, but not limited to Borrower's to, Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including including, but not limited to to, discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's Xxxxxx’s option, will (Aa) be payable on demand; (Bb) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1i) the term of any applicable insurance policy; or (2ii) the remaining term of the Note; or (Cc) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Loan Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Loan Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon the occurrence of any Event of Default.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect XxxxxxLender's interest Interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's Xxxxxx’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.or
Appears in 1 contract
Samples: Business Loan Agreement
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest Lender’s Interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
Samples: Westmoreland Coal Co
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's Lender’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; , (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's Lender’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge discharging or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging discharge or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) will be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term terms of any applicable insurance policy; or (2) the remaining term of the Note; or (C3) be treated as a balloon payment which will be due and payable at the Note's maturity. The Collateral also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
Samples: Aircraft Security Agreement (Energy Exploration Technologies /)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness lndebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 1 contract
Samples: Business Loan Agreement (AeroGrow International, Inc.)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at LenderXxxxxx's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) 1 } the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 1 contract
Samples: Business Loan Agreement (Aspyra Inc)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.. BUSINESS LOAN AGREEMENT
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is in effect, Borrower shall not, without the prior written consent of Lender:
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including Including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. Collateral All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. Any Collateral also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
Samples: Business Loan Agreement (Integrated Packaging Assembly Corp)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuringInsuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the Note rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All To the extent permitted by applicable law, all such expenses will become a part of the Indebtedness indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 1 contract
Samples: Business Loan Agreement (Sielox Inc)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at BUSINESS LOAN AGREEMENT the rate charged under the Note from the date incurred or paid by Lender Xxxxxx to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.. BUSINESS LOAN AGREEMENT (ASSET BASED) Loan No 13386 (Continued) NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is in effect, Borrower shall not, without the prior written consent of Lender:
Appears in 1 contract
Samples: Business Loan Agreement (Titan Energy Worldwide, Inc.)
XXXXXX’S EXPENDITURES. If any action or proceeding is Is commenced that would materially affect Xxxxxx's Lenders interest in the Collateral or if Borrower fails falls to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is Is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's Xxxxxx’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
Samples: Business Loan Agreement (Prospect Acquisition Corp)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect XxxxxxLender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including Including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including Including but not limited to discharging or paying all taxes, liens, security interests, encumbrances encumbrances, and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. , All such expenditures incurred Incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred Incurred or paid by Lender to the date of repayment by XxxxxxxxBorrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 1 contract
Samples: Loan Agreement (Microhelix Inc)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's Lender’s interest in the Collateral or if Borrower fails Grantor falls to comply with any provision of this Agreement or any Related Documents, including Including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Rotated Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including . Including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed place on any Collateral the collateral and paying all costs for insuring, maintaining and preserving any Collateralthe collateral. All such expenditures incurred or paid by Lender for such purposes will then bear than boar interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxxlender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lenderlender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 1 contract
Samples: Security Agreement (Elecsys Corp)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect XxxxxxLender's interest in In the Collateral or if If Borrower fails Mils to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment Installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 1 contract
Samples: Business Loan Agreement (Elevate.Money REIT I, Inc.)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, . Lender on Borrower's Xxxxxxxx’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, claims at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
Samples: Business Loan Agreement (Eaco Corp)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerExhibit 10.1 BUSINESS LOAN AGREEMENT Xxxxxxxx's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 1 contract
Samples: Business Loan Agreement (Premier Financial Bancorp Inc)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment Installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
Samples: Business Loan Agreement (Eaco Corp)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.. BUSINESS LOAN AGREEMENT (Continued)
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's Lender’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default. COMMERCIAL SECURITY AGREEMENT
Appears in 1 contract
Samples: Commercial Security Agreement (Western Capital Resources, Inc.)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest Lender’s Interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on an Borrower's ’s behalf may ({but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on an demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) )be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
Samples: Commercial Pledge Agreement (Premier Financial Bancorp Inc)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxxlender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge d1scharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all aril taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lenderlender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender Lendor deems appropriate, including but not limited to discharging or paying Baying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuringillegible, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's Xxxxxx’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; BUSINESS LOAN AGREEMENT (Continued) or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
Samples: Business Loan Agreement (U.S. Auto Parts Network, Inc.)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in In the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interestsInterests, encumbrances and other claims, at al any time lime levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest Interest at the rate charged under the Note Note, or the maximum rate permitted by law, whichever is less, from the date incurred Incurred or paid by Lender to the date of repayment by XxxxxxxxBorrower. All such expenses will become a part of the Indebtedness and, at LenderXxxxxx's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; : or (2) the remaining term of the Note; : or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest Lender’s Interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the Note rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All To the extent permitted by applicable law, all such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.. NEGATIVE COVENANTS. Borrower covenants and agrees with Xxxxxx that while this agreement is in effect, Borrower shall not, without the prior written consent of the Lender:
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's Lender’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest Interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay nay under this Agreement or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender Larder deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at LenderXxxxxx's option, will (A) be payable on demand; : (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action actions that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) 8) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
Samples: Business Loan Agreement (Arts Way Manufacturing Co Inc)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, . including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, . Lender on Borrower's Xxxxxxxx’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.’s maturity NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is in effect, Borrower shall not, without the prior written consent of Lender:
Appears in 1 contract
Samples: Business Loan Agreement (Lodging Fund REIT III, Inc.)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's Lender’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including including, but not limited to to, Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including including, but not limited to to, discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
Samples: Loan Agreement (Isecuretrac Corp)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or or-pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's Xxxxxx’s option, will (A) be payable on demand; or (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's Lender’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including including, but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining maintaining, and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, and at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at t the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect XxxxxxLender's interest Interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower is Grantor Is required to discharge or pay under this Agreement or any Related Documents, Lender on Borroweran Grantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including Including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for COMMERCIAL SECURITY AGREEMENT Loan No: 6001 (Continued) insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest than beer Interest at the rate charged under the Note from the date incurred Incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment Installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall he In addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced commended that would materially affect XxxxxxLender's interest in the Collateral or of if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower 'is required to discharge or pay under this Agreement or any Related related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred Incurred or paid by Lender for such purposes will then bear interest Interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at LenderXxxxxx's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; , or (2) the remaining term of the Note; , or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness lndebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
Samples: Commercial Pledge Agreement (AeroGrow International, Inc.)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the 3 Note's ’s maturity.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's Xxxxxx’s option, will (A) be payable on demand; or (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may are entitled upon Default
Appears in 1 contract
Samples: Commercial Pledge Agreement (Pacifichealth Laboratories Inc)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, . Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become became a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
Samples: Security Agreement (Natrol Inc)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the Note rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All To the extent permitted by applicable law, all such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.
Appears in 1 contract
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral Property or if Borrower Grantor fails to comply with any provision of this Agreement Mortgage or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement Mortgage or any Related Documents, Lender Lander on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral the Property and paying all costs for insuring, maintaining and preserving any Collateral. the Property All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender Xxxxxx to the date of repayment by XxxxxxxxGrantor. All such expenses expanses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Property also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
Samples: icc.illinois.gov
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.. BUSINESS LOAN AGREEMENT NEGATIVE COVENANTS. Borrower covenants and agrees with Xxxxxx that, while this Agreement is in effect, Borrower shall not, without the prior written consent of Lender:
Appears in 1 contract
Samples: Business Loan Agreement (Western Capital Resources, Inc.)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's ’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, . Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or of paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by XxxxxxxxGrantor. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Xxxxxx may be entitled upon Default.
Appears in 1 contract
Samples: Security Agreement (Natrol Inc)
XXXXXX’S EXPENDITURES. If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (Cor(C) be treated as a balloon payment which will be due and payable at the Note's maturity.
Appears in 1 contract