Common use of Performance by the Agent Clause in Contracts

Performance by the Agent. If any Debtor shall fail to ------------------------ perform any covenant or agreement contained in this Agreement, the Agent may perform or attempt to perform such covenant or agreement on behalf of such Debtor. In such event, the Debtors shall, at the request of the Agent, promptly pay any amount expended by the Agent in connection with such performance or attempted performance to the Agent, together with interest thereon at the 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 the Agent shall not have any liability or responsibility for the performance of any obligation of any Debtor under this Agreement.

Appears in 3 contracts

Samples: Credit Agreement (Cellstar Corp), Guarantor Security Agreement (Cellstar Corp), Credit Agreement (Cellstar Corp)

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Performance by the Agent. If any Debtor Borrower shall fail to ------------------------ perform any covenant or agreement contained in this Agreementany of the Loan Documents, the Agent may perform or attempt to perform such covenant or agreement on behalf of such DebtorBorrower. In such event, the Debtors Borrower shall, at the request of the Agent, promptly pay any amount expended by the Agent in connection with such performance or attempted performance to the Agent, together with interest thereon at the 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 the Agent shall not have any liability or responsibility for the performance of any obligation of any Debtor Borrower under this AgreementAgreement or any other Loan Document.

Appears in 1 contract

Samples: Loan Agreement (Hydrogenics Corp)

Performance by the Agent. If any the Debtor shall fail to ------------------------ perform any covenant or agreement contained in this Agreement, the Agent may perform or attempt to perform such covenant or agreement on behalf of such the Debtor. In such event, the Debtors Debtor shall, at the request of the Agent, promptly pay any amount expended by the Agent in connection with such performance or attempted performance to the Agent, together with interest thereon at the 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 the Agent shall not have any liability or responsibility for the performance of any obligation of any the Debtor under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Cellstar Corp)

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Performance by the Agent. If any the Debtor shall fail to perform ------------------------ perform any covenant or agreement contained in this Agreement, the Agent may perform or attempt to perform such covenant or agreement on behalf of such the Debtor. In such event, the Debtors Debtor shall, at the request of the Agent, promptly pay any amount expended by the Agent in connection with such performance or attempted performance to the Agent, together with interest thereon at the 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 the Agent shall not have any liability or responsibility for the performance of any obligation of any the Debtor under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Cellstar Corp)

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