Common use of Performance by the Agent Clause in Contracts

Performance by the Agent. If the Borrower or any Obligated Party shall fail to perform any covenant or agreement in accordance with the terms of the Loan Documents, the Agent may, at the direction of Required Banks, perform or attempt to perform such covenant or agreement on behalf of the Borrower or the applicable Obligated Party. In such event, the Borrower shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent or the Banks in connection with such performance or attempted performance to the Agent at the Principal Office, together with interest thereon at the applicable Default Rate from and including the date of such expenditure to but excluding the date such expenditure is paid in full. Notwithstanding the foregoing, it is expressly agreed that neither the Agent nor any Bank shall have any liability or responsibility for the performance of any obligation of the Borrower or any Obligated Party under any Loan Document.

Appears in 3 contracts

Samples: Credit Agreement (Tufco Technologies Inc), Credit Agreement (Tufco Technologies Inc), Credit Agreement (Tufco Technologies Inc)

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Performance by the Agent. If the Borrower or any Obligated Loan Party shall fail to ----------------------- perform any covenant or agreement in accordance with the terms of the Loan Documents, the Agent may, at the direction of the Required BanksLenders, perform or attempt to perform such covenant or agreement on behalf of the Borrower or the applicable Obligated such Loan Party. In such event, the Borrower shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent or the Banks Lenders in connection with such performance or attempted performance to the Agent at the Principal Office, together with interest thereon at the applicable Default Rate from and including the date of such expenditure to but excluding the date such expenditure is paid in full. Notwithstanding the foregoing, it is expressly agreed that neither the Agent nor any Bank Lender shall have any liability or responsibility for the performance of any obligation of the Borrower or any Obligated other Loan Party under this Agreement or any of the other Loan DocumentDocuments.

Appears in 1 contract

Samples: Intercreditor Agreement (Mail Well Inc)

Performance by the Agent. If the Borrower or any Obligated Party shall fail to perform any covenant or agreement in accordance with the terms of the Loan Documents, the Agent may, at the direction of Required Banks, perform or attempt to perform such covenant or agreement on behalf of the Borrower or the applicable such Obligated Party. In such event, the Borrower shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent or the Banks in connection with such performance or attempted performance to the Agent at the Principal Office, together with interest thereon at the applicable Default Rate from and including the date of such expenditure to but excluding the date such expenditure is paid in full. Notwithstanding the foregoing, it is expressly agreed that neither the Agent nor any Bank shall have any liability or responsibility for the performance of any obligation of the Borrower or any Obligated Party under any Loan Document.

Appears in 1 contract

Samples: Credit Agreement (Jotan Inc)

Performance by the Agent. If the Borrower or any Obligated Loan Party shall fail to perform any covenant or agreement in accordance with the terms of the Loan Documents, the Agent may, at the direction of the Required BanksLenders, during the continuance of an Event of Default, perform or attempt to perform such covenant or agreement on behalf of the Borrower or the applicable Obligated such Loan Party. In such event, the Borrower shall, at the request of the Agent, promptly pay any reasonable amount reasonably expended by the Agent or the Banks Lenders in connection with such performance or attempted performance to the Agent at the Principal Office, together with interest thereon at the applicable Default Rate from and including the date of such expenditure to but excluding the date such expenditure is paid in full. Notwithstanding the foregoing, it is expressly agreed that neither the Agent nor any Bank Lender shall have any liability or responsibility for the performance of any obligation of the Borrower or any Obligated other Loan Party under this Agreement or any of the other Loan DocumentDocuments.

Appears in 1 contract

Samples: Credit Agreement (Paracelsus Healthcare Corp)

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Performance by the Agent. If the Borrower or any Obligated Loan Party shall fail to perform any covenant or agreement in accordance with the terms of the Loan Documents, the Agent may, at the direction of the Required BanksLenders, perform or attempt to perform, or may cause any Lender (with the consent of such Lender) to perform or attempt to perform, such covenant or agreement on behalf of the Borrower or the applicable Obligated such Loan Party. In such event, the Borrower shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent or the Banks Lenders in connection with such performance or attempted performance to the Agent at the Principal Office, together with interest thereon at the applicable Default Rate from and including the date of such expenditure to but excluding the date such expenditure is paid in full. Notwithstanding the foregoing, it is expressly agreed that neither the Agent nor any Bank Lender shall have any liability or responsibility for the performance of any obligation of the Borrower or any Obligated other Loan Party under this Agreement or any of the other Loan DocumentDocuments.

Appears in 1 contract

Samples: Credit Agreement (Dynamex Inc)

Performance by the Agent. If the Borrower or any Obligated Loan Party shall fail to ------------------------ perform any covenant or agreement in accordance with the terms of the Loan Documents, the Agent may, at the direction of the Required BanksLenders, perform or attempt to perform such covenant or agreement on behalf of the Borrower or the applicable Obligated such Loan Party. In such event, Mail-Well and the Borrower shall, at the request of the Agent, promptly pay any amount reasonably expended by the Agent or the Banks Lenders in connection with such performance or attempted performance to the Agent at the Principal Office, together with interest thereon at the applicable Default Rate from and including the date of such expenditure to but excluding the date such expenditure is paid in full. Notwithstanding the foregoing, it is expressly agreed that neither the Agent nor any Bank Lender shall have any liability or responsibility for the performance of any obligation of Mail-Well or the Borrower or any Obligated other Loan Party under this Agreement or any of the other Loan DocumentDocuments.

Appears in 1 contract

Samples: Lease Agreement (Mail Well I Corp)

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