Advances by Mortgagee. Each and every covenant of Mortgagor herein contained shall be performed and kept by Mortgagor solely at Mortgagor’s expense. If Mortgagor fails to perform or keep any of the covenants of whatsoever kind or nature contained in this Mortgage, Mortgagee (either by it directly or on its behalf by any receiver appointed hereunder) may, but will not be obligated to, make advances to perform the same on Mortgagor’s behalf, and Mortgagor hereby agrees to repay such sums and any attorneys’ fees incurred in connection therewith on demand plus interest thereon from the date of the advance until reimbursement of Mortgagee at the Reimbursement Rate. In addition, Mortgagor hereby agrees to repay on demand any costs, expenses and attorney’s fees incurred by Mortgagee which are to be obligations of Mortgagor pursuant to, or allowed by, the terms of this Mortgage, including such costs, expenses and attorney’s fees incurred pursuant to Section 3.1(h), Section 6.5 or Section 7.2 hereof, plus interest thereon from the date of the advance by Mortgagee until reimbursement of Mortgagee at the Reimbursement Rate. Such amounts will be in addition to any sum of money which may, pursuant to the terms and conditions of the written instruments comprising part of the Obligations, be due and owing. No such advance will be deemed to relieve Mortgagor from any default hereunder.
Advances by Mortgagee. Each and every covenant herein contained shall ---------------------- be performed and kept by Mortgagors solely at Mortgagors' expense. If Mortgagors shall fail to perform or keep any of the covenants of whatsoever kind or nature contained in this Mortgage, Mortgagee or any receiver appointed hereunder may, but shall not be obligated to, make advances to perform the same on Mortgagors' behalf, and Mortgagors hereby agree to repay such sums upon demand plus interest at a rate per annum equal to the rate of interest set forth in Section 4.11 of the Note. No such advance shall be deemed to relieve Mortgagors from any Event of Default hereunder.
Advances by Mortgagee. If Mortgagor shall fail to perform any of the covenants, terms, provisions or conditions contained in this Mortgage and such failure shall continue for 10 days following notice thereof given by Mortgagee (or at any time, without notice, in case of emergency), Mortgagee may (but is not obligated to), at any time and from time to time, take any action or make advances, to effect performance of any such covenant, term, provision or condition on behalf of Mortgagor; and all moneys so used, paid or advanced by Mortgagee and all reasonable costs and expenses incurred by Mortgagee in connection therewith, together with interest on all of the same at the rate of interest set forth in the applicable Debt Documents, shall be immediately due and payable by Mortgagor to Mortgagee and all such moneys, costs and expenses shall be secured by the Lien of this Mortgage prior to any Indebtedness secured hereby. No such advance or payment by Mortgagee shall relieve Mortgagor from any default hereunder or impair any right or remedy of Mortgagee.
Advances by Mortgagee. Each and every covenant herein contained shall be performed and kept by Mortgagor solely at Mortgagor's expense. If Mortgagor shall fail to perform or keep any of the covenants of whatsoever kind or nature contained in this Deed of Trust, Mortgagee or any receiver appointed hereunder, may, but shall not be obligated to, make advances to perform the same on Mortgagor's behalf, and Mortgagor hereby agrees to repay such sums upon demand plus interest at a rate per annum equal to the default rate of interest set forth in the applicable Note. No such advance shall be deemed to relieve Mortgagor from any Event of Default hereunder.
Advances by Mortgagee. Whether or not an Event of Default shall have occurred, if Mortgagor does not pay any amount payable by it under, or fails to comply with any provision of, this Mortgage or the Note, Mortgagee may pay such amount or comply with such provision of, this Mortgage or the Note, and make such expenditures, including reasonable counsel fees, in connection therewith and with enforcing this Mortgage and the Note, for repairing, and maintaining and preserving the Premises, for establishing, preserving, protecting and restoring the priority of the lien hereof, for obtaining official tax searches of the Premises, for protecting and preserving any use being made of the Premises now or hereafter, and for advances to any trustee or receiver of the Premises, as Mortgagee deems advisable; each amount so paid or expended, with interest at the rate stated in the Note, shall become part of the Note and be secured hereby; and Mortgagor shall pay to Mortgagee, on demand, the amount of each such payment or expenditure with interest at the rate stated in the Note; but no such payment or compliance by Mortgagee shall constitute a waiver of Mortgagor's failure so to do or affect any right or remedy of Mortgagee with respect thereto.
Advances by Mortgagee. At any time and from time to time during the ----------------------- term of this Mortgage, Mortgagee may incur and/or pay and/or advance costs or expenses: [i] incurred or advanced by Mortgagee which Mortgagee is authorized or has the right (but not necessarily the obligation) to incur or may incur under any term of any Loan Document or any law; [ii] of whatever nature incurred or advanced by Mortgagee in exercising any right or remedy provided by any term of any Loan Document or in taking any action which Mortgagee is authorized to take by any term of any Loan Document; [iii] required to be paid by Mortgagor by any term of any Loan Document, but which Mortgagor fails to pay upon demand; or [iv] any and all costs and expenses from which Mortgagor is required to hold Mortgagee harmless by any term of any Loan Document, but from which Mortgagor fails to hold Mortgagee harmless. Any reasonable costs, expenses, or advances incurred or paid by Mortgagee shall become part of the loan and, upon demand, shall be paid to Mortgagee together with interest thereon at the default rate specified in the Note from the date of disbursement by Mortgagee. Payment of such costs, expenses, or advances shall be secured by this Mortgage. 7.2
Advances by Mortgagee. Mortgagor authorizes Mortgagee to advance any sums Mortgagee deems necessary or appropriate for the purpose of paying (a) insurance premiums, (b) taxes, forced contributions, service charges, local assessments and governmental charges, (c) any liens or encumbrances affecting the Mortgaged Property (whether superior or subordinate to the lien of this Mortgage) not permitted by this Mortgage, (d) necessary repairs and maintenance expenses or (e) any other amounts that Mortgagee deems necessary or appropriate to preserve the validity and ranking of this Mortgage, to cure any Event of Default, to prevent the occurrence of any Event of Default or as otherwise authorized by any of the Agreements (collectively, the “Advances”); provided, however, that nothing herein contained shall be construed as making such Advances obligatory on Mortgagee, or as making Mortgagee liable for any loss, damage, or injury resulting from the nonpayment thereof. Mortgagor covenants and agrees that it will repay, immediately on demand, all Advances to Mortgagee, together with interest thereon at the rate of 10% per annum, all of which shall be part of the Obligations secured hereby.
Advances by Mortgagee. Each and every covenant herein contained shall be performed and kept by Mortgagor solely at Mortgagor's expense. If Mortgagor shall fail to perform or keep any of the covenants of whatsoever kind or nature contained in this Mortgage, Mortgagee or any receiver appointed hereunder, may, but shall not be obligated to, make advances to perform the same on Xxxxxxxxx's behalf, and Xxxxxxxxx hereby agrees to repay such sums upon demand plus interest at a rate per annum equal to the rate of interest set forth in Section 2.06(c) of the Credit Agreement. No such advance shall be deemed to relieve Mortgagor from any Event of Default hereunder.
Advances by Mortgagee. It is specifically understood and agreed that all funds which are advanced by Mortgagee and employed in performance of the obligations of Mortgagor under this Mortgage, the Loan Agreement or the other Loan Documents, including, without limitation, advances made to pay any interest accrued on the principal under the Note as the same becomes due from time to time under the terms of the Note and/or Loan Agreement, or which are advanced in the exercise of Mortgagee's judgment that the same are necessary or desirable to complete, operate, maintain or market the Property or to protect Mortgagee's security under the Loan Documents, shall, because of economic necessity and compulsion, be deemed advanced by Mortgagee under an obligation to do so regardless of the identity of the person or persons to whom such funds are furnished and shall be added to the Debt evidenced by the Note and shall be equally secured by this Mortgage and shall have the same priority as all amounts, if any, advanced as of the date hereof.
Advances by Mortgagee. Mortgagee may make advances to perform any of the covenants contained in this Mortgage on Debtor's behalf, and all sums so advanced shall be secured hereby prior to the Note. Debtor shall repay on demand all sums so advanced with interest thereon at the then applicable Adjustable Rate (as defined in the Note) plus 5% (or the highest rate permitted by law, whichever is less), such interest to be computed from and including the date of the making of such advance to and including the date of such repayment.
