Make Payment; Take Action Clause Samples
The "Make Payment; Take Action" clause requires a party to fulfill its payment obligations and to perform any necessary actions as stipulated in the agreement. In practice, this means that the responsible party must not only pay any amounts due by the specified deadlines but also undertake any related steps, such as submitting documentation or providing confirmations, to complete the transaction. This clause ensures that both financial and procedural responsibilities are clearly assigned and met, thereby reducing the risk of delays or disputes over incomplete performance.
Make Payment; Take Action. Lender may, without notice to or demand upon Borrower, Guarantor, or other guarantor, make such payments and take such actions as Lender considers necessary or reasonable to protect its Security Interests in the Collateral. Borrower agrees to assemble the Collateral if Lender so requires, and to make the Collateral available to Lender as Lender may designate. Borrower authorizes Lender to enter the Premises/Other Locations where the Collateral is located, to take and maintain possession of the Collateral, or any part of it, and to pay, purchase, contest, or compromise any encumbrance, charge, or lien that in Lender’s detennination appears to conflict with its Security Interests and to pay all expenses incurred in connection therewith. With respect to any of Borrower’s owned Premises, Borrower hereby grants Lender a license to enter into possession of such Premises and to occupy the same, without charge, for up to one hundred twenty (120) days in order to exercise any of Lender’s rights or remedies provided herein or in any of the other Loan Documents, at law, in equity, or otherwise.
Make Payment; Take Action. Lenders may, without notice to or demand upon Borrower, or other guarantor, make such payments and take such actions as Lenders considers necessary or reasonable to protect its Security Interests in the Collateral. Borrower agrees to assemble the Collateral if Lenders so requires, and to make the Collateral available to Lenders as Lenders may designate. Borrower authorizes Lenders to enter the Premises/Other Locations where the Collateral is located, to take and maintain possession of the Collateral, or any part of it, and to pay, purchase, contest, or compromise any encumbrance, charge, or lien that in Lenders’ determination appears to conflict with its Security Interests and to pay all expenses incurred in connection therewith. With respect to any of Borrower’s owned Premises, Borrower hereby grants Lenders a license to enter into possession of such Premises and to occupy the same, without charge, for up to one hundred twenty (120) days in order to exercise any of Lenders’ rights or remedies provided herein or in any of the other Loan Documents, at law, in equity, or otherwise.