Collateral Protection Expenses Preservation of Collateral. (a) If an Event of Default shall have occurred and be continuing, the Agent may discharge taxes and other encumbrances at any time levied or placed on any of the Collateral, make repairs thereto and pay any necessary filing fees. Each Grantor agrees to reimburse the Agent on demand for any and all expenditures so made. The Agent shall have no obligation to any Grantor to make any such expenditures, nor shall the making thereof relieve any Grantor of any default.
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Samples: Parent Security and Pledge Agreement (FriendFinder Networks Inc.), Parent Security and Pledge Agreement (FriendFinder Networks Inc.), Issuer Security and Pledge Agreement (FriendFinder Networks Inc.)
Collateral Protection Expenses Preservation of Collateral. (a) If an Event of Default shall have occurred and be continuing, the Collateral Agent may discharge taxes and other encumbrances at any time levied or placed on any of the Collateral, make repairs thereto and pay any necessary filing fees. Each Grantor agrees to reimburse the Collateral Agent on demand for any and all expenditures so made. The Collateral Agent shall have no obligation to any Grantor to make any such expenditures, nor shall the making thereof relieve any Grantor of any default.
Appears in 2 contracts
Samples: Security and Pledge Agreement (FriendFinder Networks Inc.), Form of Trademark Security Agreement (FriendFinder Networks Inc.)
Collateral Protection Expenses Preservation of Collateral. (a) If an Event of Default shall have occurred and be continuing, the Agent may discharge taxes and other encumbrances at any time levied or placed on any of the Collateral, make repairs thereto and pay any necessary filing fees. Each Grantor The Issuer agrees to reimburse the Agent on demand for any and all expenditures so made. The Agent shall have no obligation to any Grantor the Issuer to make any such expenditures, nor shall the making thereof relieve any Grantor the Issuer of any default.
Appears in 2 contracts
Samples: Issuer Security and Pledge Agreement (FriendFinder Networks Inc.), Issuer Security and Pledge Agreement (FriendFinder Networks Inc.)
Collateral Protection Expenses Preservation of Collateral. (a) If an Event of Default shall have occurred and be continuing, the Agent may discharge taxes and other encumbrances at any time levied or placed on any of the Collateral, make repairs thereto and pay any necessary filing fees. Each Grantor The Guarantor agrees to reimburse the Agent on demand for any and all expenditures so made. The Agent shall have no obligation to any Grantor the Guarantor to make any such expenditures, nor shall the making thereof relieve any Grantor the Guarantor of any default.
Appears in 2 contracts
Samples: Guarantor Security and Pledge Agreement (FriendFinder Networks Inc.), Guarantor Security and Pledge Agreement (FriendFinder Networks Inc.)
Collateral Protection Expenses Preservation of Collateral. (a) If an Event In its discretion, but subject to Rights of Default shall have occurred and be continuingthe Senior Secured Lenders, the Agent may discharge taxes and other encumbrances at any time levied or placed on any of the Collateral, make repairs thereto and pay any necessary filing fees. Each The Grantor agrees to reimburse the Agent on demand for any and all expenditures so made. The Agent shall have no obligation to any the Grantor to make any such expenditures, nor shall the making thereof relieve any the Grantor of any default.
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