Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, Agent, at its option, may obtain such insurance and pay the premium therefor for the Borrowers’ Account, and charge the Borrowers’ Account therefor and such expenses so paid shall be part of the Obligations.
Appears in 4 contracts
Samples: Loan and Security Agreement (Velocity Express Corp), Loan and Security Agreement (Forbes Energy International, LLC), Loan and Security Agreement (Castle a M & Co)
Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, Agent, at its optionif Agent so elects, may obtain such insurance and pay the premium therefor for the Borrowers’ ' Account, and charge the Borrowers’ ' Account therefor and such expenses so paid shall be part of the Obligations.
Appears in 4 contracts
Samples: Loan and Security Agreement (Bucyrus International Inc), Loan and Security Agreement (Brown Jordan International Inc), Loan and Security Agreement (Jaco Electronics Inc)
Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, Agent, at its optionif Agent so elects, may obtain such insurance and pay the premium therefor for the Borrowers’ Borrower’s Account, and charge the Borrowers’ Borrower’s Account therefor and such expenses so paid shall be part of the Obligations.
Appears in 3 contracts
Samples: Financing Agreement (Rafaella Apparel Group,inc.), Financing Agreement (Rafaella Apparel Group,inc.), Financing Agreement (Verrazano,inc.)
Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, Agent, at its optionif Agent so elects, may obtain such insurance and pay the premium therefor for the Borrowers’ Accounton behalf of such Loan Party, and charge the Borrowers’ Account Borrower’s Accounts therefor as a Revolving Advance of a Domestic Rate Loan and such expenses so paid shall be part of the Obligations.
Appears in 2 contracts
Samples: Security Agreement (TCP International Holdings Ltd.), Security Agreement (TCP International Holdings Ltd.)
Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, Agent, at its optionif Agent so elects, may obtain such insurance and pay the premium therefor for the Borrowers’ Accounton behalf of such Loan Party, and charge the Borrowers’ Account therefor as a Revolving Advance of a Domestic Rate Loan and such expenses so paid shall be part of the Obligations.
Appears in 2 contracts
Samples: Security Agreement (Dri Corp), Security Agreement (Allegheny Technologies Inc)
Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, the Agent, at its optionif the Agent so elects, may obtain such insurance and pay the premium therefor for the Borrowers’ Accounton behalf of such Loan Party, and charge the Borrowers’ Account therefor and such expenses so paid premium shall be part of charged to the Loan Account as a Revolving Loan that is a Base Rate Loan and added to the Obligations.
Appears in 2 contracts
Samples: Credit and Security Agreement (Ramaco Resources, Inc.), Credit and Security Agreement (Ramaco Resources, Inc.)
Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, Agent, at its optionif Agent so elects, may obtain such insurance and pay the premium therefor for the Borrowers’ ' Account, and charge the Borrowers’ ' Account therefor as a Revolving Advance and such expenses so paid shall be part of the Obligations.
Appears in 2 contracts
Samples: Loan and Security Agreement (Bucyrus International Inc), Loan and Security Agreement (Bucyrus International Inc)
Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, Agent, at its option, may may, but shall not be obligated to, obtain such insurance and pay the premium therefor for from the Borrowers’ Account, and charge the Borrowers’ Borrower’s Account therefor and such expenses so paid shall be part of the Obligations.
Appears in 2 contracts
Samples: Loan and Security Agreement (Forbes Energy Services Ltd.), Loan and Security Agreement (Forbes Energy Services Ltd.)
Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, Agent, at its optionif Agent so elects, may obtain such insurance and pay the premium therefor for the Borrowers’ Account, on behalf of such Loan Party and charge the relevant Borrowers’ Account therefor as a Revolving Advance of a Domestic Rate Loan and such expenses so paid shall be part of the Obligations.
Appears in 2 contracts
Samples: Security Agreement (Stream Global Services, Inc.), Security Agreement (Stream Global Services, Inc.)
Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, Agent, at its option, may obtain such insurance and pay the premium therefor for the Borrowers’ Account, and charge the Borrowers’ Account therefor and such expenses so paid shall be part of the Obligations, without any responsibility on Agent’s part for obtaining the insurance, the solvency of the insurance companies, the adequacy of the coverage, or the collection of claims.
Appears in 2 contracts
Samples: Loan and Security Agreement (American Outdoor Brands, Inc.), Loan and Security Agreement (American Outdoor Brands, Inc.)
Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, the Agent, at its optionif the Agent so elects, may obtain such insurance and pay the premium therefor for the Borrowers’ Accounton behalf of such Loan Party, and charge the Borrowers’ Account therefor as a Revolving Advance of a Domestic Rate Loan and such expenses so paid shall be part of the Obligations.
Appears in 1 contract
Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, Agent, at its optionif Agent so elects, may obtain such insurance and pay the premium therefor for the Borrowers’ Accounton behalf of such Loan Party, and charge the Borrowers’ Account therefor as a Revolving Advance of a Domestic Rate Loan and such expenses so paid shall be part of the Obligations.
Appears in 1 contract
Samples: Revolving Creditandsecurity Agreement (TCP International Holdings Ltd.)
Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, Agent, at its optionif Agent so elects, may obtain such insurance and pay the premium therefor for the Borrowers’ Account, and charge the Borrowers’ Account therefor and such expenses so paid shall be part of the Obligations.
Appears in 1 contract
Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, Agent, at its optionif Agent so elects, may obtain such insurance and pay the premium therefor for the Borrowers’ Account, and charge the Borrowers’ Account therefor as a Revolving Advance and such expenses so paid shall be part of the Obligations.
Appears in 1 contract
Samples: Loan and Security Agreement (Bucyrus International Inc)
Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, Agent, at its option, may obtain such insurance and pay the premium therefor for the Borrowers’ Borrower’s Account, and charge the Borrowers’ Borrower’s Account therefor and such expenses so paid shall be part of the Obligations.
Appears in 1 contract
Samples: Loan and Security Agreement (Winnebago Industries Inc)
Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, Agent, at its optionif Agent so elects, may obtain such insurance and pay the premium therefor for the Borrowers’ Accounton behalf of such Loan Party, and charge the Borrowers’ Borrower’s Account therefor as a Revolving Advance of a Domestic Rate Loan and such expenses so paid shall be part of the Obligations.
Appears in 1 contract
Samples: Loan and Security Agreement (Vision-Ease Lens CORP)
Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, Agent, at its optionif Agent so elects, may obtain such insurance and pay the premium therefor for the Borrowers’ Accounton behalf of such Loan Party, and charge the Borrowers’ Borrower’s Account therefor and such expenses so paid shall be part of the Obligations.
Appears in 1 contract
Samples: Loan and Security Agreement (Vision-Ease Lens, Inc.)
Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, the Agent, at its optionif the Agent so elects, may obtain such insurance and pay the premium therefor for the Borrowers’ Accounton behalf of such Loan Party, and charge the Borrowers’ Loan Account therefor as a Revolving Advance of a Domestic Rate Loan and such expenses so paid shall be part of the Obligations.
Appears in 1 contract
Samples: Security Agreement (Lesco Inc/Oh)
Failure to Pay Insurance. If any Loan Party fails to obtain insurance as hereinabove provided, or to keep the same in force, Agent, at its optionif Agent so elects, may obtain such insurance and pay the premium therefor for the Borrowers’ Accounton behalf of such Loan Party, and charge the Borrowers’ ' Account therefor as a Revolving Advance of a Domestic Rate Loan and such expenses so paid shall be part of the Obligations.
Appears in 1 contract
