Performance by Holder Sample Clauses
The "Performance by Holder" clause defines the obligations and responsibilities that the holder of a right, asset, or interest must fulfill under the agreement. Typically, this clause outlines the specific actions or standards of conduct required from the holder, such as making payments, providing services, or maintaining certain conditions. For example, if the holder is required to deliver goods or meet certain deadlines, this clause will specify those requirements. Its core practical function is to ensure that the holder's duties are clearly articulated, thereby reducing ambiguity and helping to prevent disputes over whether contractual obligations have been met.
Performance by Holder. If either Borrower fails to perform any of its obligations hereunder, the Holder may, after notice to the Company, but shall not be obligated to, perform any or all such obligations, and all reasonable costs, charges, expenses, fees, outlays and premiums incurred by the Holder in connection therewith shall be payable by the Borrowers, jointly and severally, forthwith upon demand by the Holder and shall bear interest from the date incurred by the Holder at the Interest Rate then in effect and shall form part of the Obligations. Any such performance by the Holder shall not constitute a waiver by the Holder of any right, power, or privilege under this Note.
Performance by Holder. Holder shall have performed all agreements and satisfied all conditions required to be performed or satisfied by Holder, including the delivery of the original of the promissory note evidencing the Debt and an acknowledgement of cancellation of the Debt to Issuer, at or prior to the Closing.