Common use of DISCHARGE OF BORROWER'S OBLIGATIONS Clause in Contracts

DISCHARGE OF BORROWER'S OBLIGATIONS. Lender, in its sole discretion, shall have the right at any time, and from time to time, without prior notice to Borrower if Borrower fails to do so, to: (i) obtain insurance covering any of the Collateral as required hereunder; (ii) pay for the performance of any of Borrower's obligations hereunder; (iii) discharge taxes, liens, security interests, or other encumbrances at any time levied or placed on any of the Collateral in violation of this Agreement unless Borrower is in good faith with due diligence by appropriate proceedings contesting those items; and (iv) pay for the maintenance and preservation of any of the Collateral. Expenses and advances shall be added to the Loan, until reimbursed to Lender and shall be secured by the Collateral. Any such payments and advances by Lender shall not be construed as a waiver by Lender of an Event of Default.

Appears in 5 contracts

Samples: Loan and Security Agreement (National Diagnostics Inc), Loan and Security Agreement (Medical Asset Management Inc), Loan and Security Agreement (Numed Home Health Care Inc)

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DISCHARGE OF BORROWER'S OBLIGATIONS. Lender, in its sole discretion, shall have the right at any time, and from time to time, without prior notice to Borrower if Borrower fails to do so, to: (i) obtain insurance covering any of the Collateral as required hereunderunder this Agreement; (ii) pay for the performance of any of Borrower's ’s obligations hereunderunder this Agreement; (iii) discharge taxes, liens, security interests, or other encumbrances at any time levied or placed on any of the Collateral in violation of this Agreement unless Borrower is in good faith with due diligence by appropriate proceedings contesting those items; and (iv) pay for the maintenance and preservation of any of the Collateral. Expenses and advances shall be added to the Loan, until reimbursed to Lender and shall be secured by the Collateral. Any such payments and advances by Lender shall not be construed as a waiver by Lender of an Event of Default.

Appears in 2 contracts

Samples: Loan and Security Agreement (Digirad Corp), Revolving Loan and Security Agreement (Sunlink Health Systems Inc)

DISCHARGE OF BORROWER'S OBLIGATIONS. Lender, in its sole discretion, shall have the right at any time, and from time to time, without prior notice to Borrower if Borrower fails to do so, to: (ia) obtain insurance covering any of the Collateral as required hereunderunder this Agreement; (iib) pay for the performance of any of Borrower's obligations hereunderunder this Agreement; (iiic) discharge taxes, liens, security interests, or other encumbrances at any time levied or placed on any of the Collateral in violation of this Agreement unless Borrower is in good faith with due diligence by appropriate proceedings contesting those items; and (ivd) pay for the maintenance and preservation of any of the Collateral. Expenses and advances shall be added to the Loan, until reimbursed to Lender and shall be secured by the Collateral. Any such payments and advances by Lender shall not be construed as a waiver by Lender of an Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Ensign Group, Inc)

DISCHARGE OF BORROWER'S OBLIGATIONS. Lender, in its sole ------------------------------------ discretion, shall have the right at any timetime during an Event of Default, and from time to time, without after prior notice to Borrower if Borrower fails to do so, to: (i) obtain insurance covering any of the Collateral as required hereunder; (ii) pay for the performance of any of Borrower's obligations hereunder; (iii) discharge taxes, liens, security interests, or other encumbrances at any time levied or placed on any of the Collateral in violation of this Agreement unless Borrower is in good faith with due diligence by appropriate proceedings contesting those items; and (iv) pay for the maintenance and preservation of any of the Collateral. Expenses and advances shall be added to the Loan, until reimbursed to Lender and shall be secured by the Collateral. Any such payments and advances by Lender shall not be construed as a waiver by Lender of an Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Healthcor Holdings Inc)

DISCHARGE OF BORROWER'S OBLIGATIONS. Lender, in its sole discretion, shall have the right at any time, and from time to time, without prior notice to Borrower if Borrower fails to do so, to: (ia) obtain insurance covering any of the Collateral as required hereunderunder this Agreement; (iib) pay for the performance of any of Borrower's ’s obligations hereunderunder this Agreement; (iiic) discharge taxes, liensLiens, security interests, or other encumbrances at any time levied or placed on any of the Collateral in violation of this Agreement unless Borrower is in good faith with due diligence by appropriate proceedings contesting those items; and (ivd) pay for the maintenance and preservation of any of the Collateral. Expenses and advances shall be added to the LoanLoans, until reimbursed to Lender and shall be secured by the Collateral. Any such payments and advances by Lender shall not be construed as a waiver by Lender of an Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Correctional Services Corp)

DISCHARGE OF BORROWER'S OBLIGATIONS. Lender, in its sole discretion, shall have the right at any time, and from time to time, without following prior notice to Borrower if Borrower fails to do so, to: (i) obtain insurance covering any of the Collateral as required hereunder; (ii) pay for the performance of any of Borrower's obligations hereunder; (iii) discharge taxes, liens, security interests, or other encumbrances at any time levied or placed on any of the Collateral in violation of this Agreement unless Borrower is in good faith with due diligence by appropriate proceedings contesting those items; and (iv) pay for the maintenance and preservation of any of the Collateral. Expenses and advances shall be added to the Loan, until reimbursed to Lender and shall be secured by the Collateral. Any such payments and advances by Lender shall not be construed as a waiver by Lender of an Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Balanced Care Corp)

DISCHARGE OF BORROWER'S OBLIGATIONS. Lender, in its sole discretion, shall have the right at any time, and from time to time, without prior notice to Borrower if Borrower fails to do so, to: (ia) obtain insurance covering any of the Collateral as required hereunder; (iib) pay for the performance of any of Borrower's obligations hereunder; (iiic) discharge taxes, liens, security interests, or other encumbrances at any time levied or placed on any of the Collateral in violation of this Agreement unless Borrower is in good faith with due diligence by appropriate proceedings contesting those items; and (ivd) pay for the maintenance and preservation of any of the Collateral. Expenses and advances shall be added to the Loan, until reimbursed to Lender and shall be secured by the Collateral. Any such Such payments and advances by Lender shall not be construed as a waiver by Lender of an Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Newcare Health Corp)

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DISCHARGE OF BORROWER'S OBLIGATIONS. Lender, in its sole ------------------------------------------------------- discretion, shall have the right at any time, and from time to time, without with prior notice to Borrower if Borrower fails to do so, to: (ia) obtain insurance covering any of the Collateral as required hereunder; (iib) pay for the performance of any of Borrower's obligations hereunder; (iiic) discharge taxes, liens, security interests, or other encumbrances at any time levied or placed on any of the Collateral in violation of this Agreement unless Borrower is in good faith with due diligence by appropriate proceedings contesting those items; and (ivd) pay for the maintenance and preservation of any of the Collateral. Expenses and advances shall be added to the Loan, until reimbursed to Lender and shall be secured by the Collateral. Any such Such payments and advances by Lender shall not be construed as a waiver by Lender of an Event of Default.

Appears in 1 contract

Samples: Loan and Securiiy Agreement (International Nursing Services Inc)

DISCHARGE OF BORROWER'S OBLIGATIONS. Lender, in its ----------------------------------- sole discretion, shall have the right at any time, and from time to time, without prior notice to Borrower if Borrower fails to do so, to: (ia) obtain insurance covering any of the Collateral as required hereunderunder this Agreement; (iib) pay for the performance of any of Borrower's obligations hereunderunder this Agreement; (iiic) discharge taxes, liens, security interests, or other encumbrances at any time levied or placed on any of the Collateral in violation of this Agreement unless Borrower is in good faith with due diligence by appropriate proceedings contesting those items; and (ivd) pay for the maintenance and preservation of any of the Collateral. Expenses and advances shall be added to the Loan, until reimbursed to Lender and shall be secured by the Collateral. Any such payments and advances by Lender shall not be construed as a waiver by Lender of an Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Lasersight Inc /De)

DISCHARGE OF BORROWER'S OBLIGATIONS. Lender, in its sole reasonable discretion, shall have the right at any time, and from time to time, without prior notice to Borrower if Borrower fails to do so, to: (i) obtain insurance covering any of the Collateral as required hereunderunder this Agreement; (ii) pay for the performance of any of Borrower's obligations hereunderunder this Agreement; (iii) discharge taxes, liens, security interests, or other encumbrances at any time levied or placed on any of the Collateral in violation of this Agreement unless Borrower is in good faith with due diligence by appropriate proceedings contesting those items; and (iv) pay for the maintenance and preservation of any of the Collateral. Expenses and advances shall be added to the Loan, until reimbursed to Lender and shall be secured by the Collateral. Any such payments and advances by Lender shall not be construed as a waiver by Lender of an Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Gish Biomedical Inc)

DISCHARGE OF BORROWER'S OBLIGATIONS. Lender, in its sole discretion, shall have the right at any time, and from time to time, without prior notice to Borrower if Borrower fails to do so, to: (ia) obtain insurance covering any of the Collateral as required hereunderunder this Agreement; (iib) pay for the performance of any of Borrower's ’s obligations hereunderunder this Agreement; (iiic) discharge taxes, liensLiens, security interests, or other encumbrances at any time levied or placed on any of the Collateral in violation of this Agreement unless Borrower is in good faith with due diligence by appropriate proceedings contesting those items; and (ivd) pay for the maintenance and preservation of any of the Collateral. Expenses and advances shall be added to the Loan, until reimbursed to Lender and shall be secured by the Collateral. Any such payments and advances by Lender shall not be construed as a waiver by Lender of an Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Southland Health Services, Inc.)

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