Advances by Trustee. If the Company shall fail to perform any of its covenants in this Indenture, the Trustee may, at any time and from time to time after notice to the Company, make advances, to effect performance of any such covenant on behalf of the Company; and all moneys so used or advanced by the Trustee, together with interest at the "prime rate" as quoted by and in effect from time to time by the Trustee plus one percent (1%) per annum (such rate to be recomputed, and as so recomputed to take effect, as of the day immediately following the date on which the Trustee publicly announces any change in its "prime rate"), shall be repaid by the Company upon demand.
Advances by Trustee. The Corporation shall pay to the Trustee the amount of all advances of funds made by the Trustee under the provisions of this Loan Agreement or the Indenture, with interest thereon at the prime rate announced from time to time by the Trustee.
Advances by Trustee. If the Corporation shall fail to make any payment or perform any of its covenants in the Loan Agreement, the Trustee may, at any time and from time to time, use and apply any moneys held by it under this Indenture, or make advances, to effect payment or performance of any such covenant on behalf of the Corporation. All moneys so used or advanced by the Trustee, together with interest at the Trustee’s announced Prime Rate per annum, shall be repaid by the Corporation upon demand and such advances shall be secured under this Indenture prior to the Bonds. For the repayment of all such advances the Trustee shall have the right to use and apply any moneys at any time held by it under this Indenture but no such use of moneys or advance shall relieve the Corporation from any default hereunder.
Advances by Trustee. In the event the Borrowers shall fail to maintain the full insurance coverage required by this Agreement or shall fail to keep the Collateral Property in as reasonably safe condition as its operating condition will permit, or shall fail to keep the Collateral Property in good repair and good operating condition (except as otherwise herein permitted), the Trustee may (but shall be under no obligation to) take out the required policies of insurance and pay the premiums on the same, or make the required repairs, renewals and replacements. All amounts advanced therefor by the Trustee shall become an additional obligation of the Borrower to the Trustee, which amounts the Borrower agrees to pay on demand together with interest thereon at the Late Payment Rate or the maximum rate permitted by law if less than such rate.
Advances by Trustee. (a) In the event the Servicer fails to make any required Periodic Advances of principal and interest on a Mortgage Loan as required by the Servicing Agreement prior to the Distribution Date occurring in the month during which such Periodic Advance is due, the Trustee shall, to the extent required by Section 8.15, make such Periodic Advance to the extent provided hereby, provided that the Trustee has previously received the certificate of the Master Servicer described in the following sentence. The Master Servicer shall certify to the Trustee with respect to any such Distribution Date (i) the amount of Periodic Advances required of the Servicer (ii) the amount actually advanced, (iii) the amount that the Trustee is required to advance hereunder and (iv) whether the Master Servicer has determined that it reasonably believes that such Periodic Advance is a Nonrecoverable Advance. Amounts advanced by the Trustee shall be deposited in the Certificate Account on the related Distribution Date. Notwithstanding the foregoing, the Trustee will not be obligated to make a Periodic Advance that it reasonably believes to be a Nonrecoverable Advance. The Trustee may conclusively rely for any determination to be made by it hereunder upon the determination of the Master Servicer as set forth in its certificate.
Advances by Trustee. Subject to the provision of Section 13.01(c)(4), if the Issuer shall fail to perform any of its covenants in this Indenture, the Trustee may, but shall not be required, at any time and from time to time, after written notice to the Users if no Loan Default exists under the Loan Agreement, make advances to effect performance of any such covenant on behalf of the Issuer, but no money advanced by the Trustee shall be used to pay Debt Service. Any money so advanced by the Trustee, together with interest at the Default Rate provided and defined in the Credit Documents shall be paid (subject to the provisions of Article III) upon demand and such advances shall be secured under this Indenture prior to the Bonds, but no such reimbursement shall be made from moneys drawn under the Letter of Credit. The Issuer shall not be required to expend monies under the terms of the Indenture, unless such funds are provided by or on behalf of the Users for such purpose.
Advances by Trustee. If the Issuer shall fail to perform any of its covenants contained in this Indenture, the Trustee may (but shall not be obligated to) make advances to perform the same on behalf of the Issuer, and the Issuer will repay upon demand all sums so advanced, with interest from the date such advances are made to the date such advances are repaid by the Issuer at the rate of interest borne by the Securities. The principal amount of all sums so advanced, but not the interest thereon, shall be secured by this Indenture and have priority to the Securities. No such advance shall be deemed to relieve the Issuer from any default or Event of Default hereunder.
Advances by Trustee. If the Borrower fails to take out or maintain the full insurance coverage required by this Loan Agreement, fails to pay the taxes and other charges required to be paid hereunder at or prior to the time they are required to be paid or fails to keep the Project Facility in good order and repair and in safe condition or fails to perform any other obligation under this Loan Agreement, the Trustee, upon prior written notice to the Borrower, except that such notice shall not be required if the Trustee determines in its sole discretion that delay will be materially prejudicial to its interests herein, may (but shall not be obligated to) take out the required policies of insurance and pay the premiums on the same, pay such taxes or other charges or make such repairs, renewals and replacements as may be necessary to maintain the Project Facility in good order and repair and in safe condition, and pay such other amounts as are necessary to perform the Borrower’s other obligations. All amounts so advanced therefor by the Trustee, together with interest at a rate equal to six percent, shall become an additional obligation of the Borrower to the Trustee, which amounts the Borrower agrees to pay. Any remedy vested in the Authority or the Trustee for the collection of the Loan Payments hereunder shall also be available to the Trustee for the collection of all such amounts so advanced.
Advances by Trustee. If the Company shall fail to perform any of the covenants contained in §7.05, §7.08 or §7.09, the Trustee may make advances to perform the same in its behalf, but shall be under no obligation so to do; and all sums so advanced shall be at once repayable by the Company, and shall bear interest at nine per cent (9%) per annum until paid, and shall be secured hereby, having the benefit of the lien hereby created in priority to the Bonds issued hereunder, but no such advance shall be deemed to relieve the Company from any default hereunder.
Advances by Trustee. (a) To the extent that the Master Servicer fails to make a P&I Advance by 11:00 a.m. on the Business Day following the related P&I Advance Date (other than a P&I Advance that the Master Servicer determines is a Nonrecoverable Advance), the Trustee shall make such P&I Advance unless the Trustee determines that such P&I Advance, if made, would be a Nonrecoverable Advance. To the extent that the Trustee is required hereunder to make P&I Advances, it shall deposit the amount thereof in the Distribution Account (or, to the extent made to cover unpaid Servicing Fees, in the Collection Account) on the relevant Distribution Date.
