Common use of Performance by the Lender Clause in Contracts

Performance by the Lender. If the Borrower fails to perform any covenant, obligation, or agreement contained in any of the Loan Documents, the Lender may perform or attempt to perform such covenant, obligation or agreement on behalf of the Borrower. In such event, the Borrower shall, at the request of the Lender, pay on demand any amount expended by the Lender in such performance or attempted performance to the Lender, together with interest thereon at the annual interest rate applicable to the Subordinated Loan from the date of such expenditure until paid. Notwithstanding the foregoing, the Lender shall not assume any liability or responsibility for the performance of any covenant, obligation or agreement of the Borrower under any of the Loan Documents or control over the management and affairs of the Borrower.

Performance by the Lender. If the Borrower fails to perform any covenant, obligation, or agreement Obligation contained in any of the Loan Documents, the Lender may perform or attempt to perform such covenant, obligation or agreement Obligation on behalf of the Borrower. In such event, the Borrower shall, at the request of the Lender, pay on demand any amount expended by the Lender in such performance or attempted performance to the Lender, together with interest thereon at the annual interest rate applicable to the Subordinated Loan from the date of such expenditure until paid. Notwithstanding the foregoing, the Lender shall not assume any liability or responsibility for the performance of any covenant, obligation or agreement Obligation of the Borrower under any of the Loan Documents or control over the management and affairs of the Borrower.