Performance by Pledgee Clause Samples
The "Performance by Pledgee" clause allows the pledgee (the party holding a security interest) to fulfill certain obligations or perform actions on behalf of the pledgor (the party granting the security interest) if the pledgor fails to do so. In practice, this might include the pledgee paying taxes, insurance premiums, or other charges related to the pledged assets to protect their value. The clause ensures that the pledged assets are maintained and protected, thereby safeguarding the pledgee’s security interest and minimizing the risk of asset devaluation due to the pledgor’s inaction.
Performance by Pledgee. If Pledgor fails to perform any agreement or obligation contained herein, Pledgee may itself perform, or cause performance of, such agreement or obligation, and the expenses of Pledgee incurred in connection therewith shall be payable by Pledgor under Section 4.4 hereof.
Performance by Pledgee. Should any covenant, duty, or agreement of Pledgor fail to be performed in accordance with its terms hereunder, Pledgee may, but shall never be obligated to, perform or attempt to perform such covenant, duty, or agreement on behalf of Pledgor, and any amount expended by Pledgee in such performance or attempted performance shall become a part of the Secured Indebtedness. At the request of Pledgee, Pledgor agrees to pay such amount promptly to Pledgee at Pledgee’s office in Dallas, Texas.
Performance by Pledgee. Should any covenant, duty or agreement of Pledgor fail to be performed in accordance with its terms hereunder, Pledgee may, but shall never be obligated to, perform or attempt to perform such covenant, duty or agreement on behalf of Pledgor, and any amount expended by Pledgee in such performance or attempted performance shall become a part of the Obligations, and, at the request of Pledgee, Pledgor agrees to pay such amount promptly to Pledgee at Pledgee's office together with interest thereon at the rate provided in the Note.
Performance by Pledgee. If Pledgor fails to perform any agreement or obligation provided herein, Pledgee may itself perform, or cause performance of, such agreement or obligation, and the expenses of Pledgee incurred in connection therewith shall be a part of the Indebtedness, secured by the Collateral and payable by Pledgor on demand. Notwithstanding any other provision herein to the contrary, Pledgee does not have any duty to exercise or continue to exercise any of the foregoing rights and shall not be responsible for any failure to do so or for any delay in doing so.
Performance by Pledgee. If Pledgor fails to duly and punctually perform, observe or comply with any condition, term or covenant contained in this Agreement, Pledgee, without notice to or demand upon Pledgor and without waiving or releasing any of the Secured Obligations, may at any time thereafter perform such condition, term or covenant for the account and at the expense of Pledgor. All sums paid or advanced in connection with the foregoing and all costs and expenses (including, without limitation, reasonable attorneys' fees) incurred in connection therewith shall be
Performance by Pledgee. If Pledgor fails to duly and punctually perform, observe or comply with any condition, term or covenant contained in this Agreement, Pledgee, without notice to or demand upon Pledgor and without waiving or releasing any of the Secured Obligations, may at any time thereafter perform such condition, term or covenant for the account and at the expense of Pledgor. All sums paid or advanced in connection with the foregoing and all costs and expenses (including, without limitation, reasonable attorneys' fees) incurred in connection therewith shall be paid by Pledgor to Pledgee on demand, and shall constitute and become a part of the Secured Obligations and Pledgor agrees to reimburse Pledgee for any payment made or any expense incurred (including reasonable attorneys' fees to the extent permitted by law) by Pledgee pursuant to this Agreement.