Common use of Protection of Assets Clause in Contracts

Protection of Assets. The Agent, in the Agent's discretion, and following written notice to the Lead Borrower, and from time to time, may discharge any tax or Encumbrance on any of the Collateral, or take any other action which the Agent may deem necessary or desirable to repair, insure, maintain, preserve, collect, or realize upon any of the Collateral. The Agent shall not have any obligation to undertake any of the foregoing and shall have no liability on account of any action so undertaken except where there is a specific finding in a judicial proceeding (in which the Agent has had an opportunity to be heard), from which finding no further appeal is available, that the Agent had acted in actual bad faith or in a grossly negligent manner. The Borrowers shall pay to the Agent, on demand, or the Agent, in its discretion, may add to the Loan Account, all amounts paid or incurred by the Agent pursuant to this section 4:4-22.

Protection of Assets. The Agent, Agent may in the Agent's discretion, and following written notice to the Lead Borrower, and its discretion from time to time, may discharge any tax that is due or Encumbrance on any of the Collateral, or take any other action which the Agent may deem necessary or desirable to repair, insure, maintain, preserve, collect, or realize upon any of the CollateralCollateral if the Borrower has failed to do so after written notice. The Agent shall not have any obligation to undertake any of the foregoing and shall have no liability on account of any action so undertaken except where there is a specific finding in a judicial proceeding (in which the Agent has had an opportunity to be heard), from which finding no further appeal is available, that the Agent had acted in actual bad faith or in a grossly negligent manner. The Borrowers Borrower shall pay to the Agent, on demand, or the Agent, in its discretion, may add to the Loan Account, all amounts paid or incurred by the Agent pursuant to this section 4:4-22Section 4.22. The obligation of the Borrower to pay such amounts is a Liability.

Protection of Assets. The Agent, in the Agent's discretion, and following written notice to the Lead Borrower, and from time to timetime following and during the continuance of an Event of Default, may discharge any tax or Encumbrance on any of the Collateral, or take any other action which that the Agent may deem necessary or desirable to repair, insure, maintain, preserve, collect, or realize upon any of the Collateral. The Agent shall not have any obligation to undertake any of the foregoing and shall have no liability on account of any action so undertaken except where there is a specific finding in a judicial proceeding (in which the Agent has had an opportunity to be heard), from which finding no further appeal is available, that the Agent had acted in actual bad faith or in a grossly negligent manner. The Borrowers Obligors shall pay to the Agent, on demand, or the Agent, in its discretion, may add to the Loan Account, all amounts paid or incurred by the Agent pursuant to this section 4:4-22section. The obligation of the Obligors to pay such amounts is a Liability.

Protection of Assets. The Agent, Administrative Agent may in the Agent's its discretion, and following written notice to upon the Lead Borrowerinstruction of the Collateral Agent, and shall from time to time, may discharge any tax or Encumbrance on any of the Collateral, or take any other action which the such Agent may deem necessary or desirable to repair, insure, maintain, preserve, collect, or realize upon any of the Collateral. The Agent Agents shall not have any obligation to undertake any of the foregoing and shall have no liability on account of any action so undertaken except where there is a specific finding in a judicial proceeding (in which the that Agent has had an opportunity to be heard), from which finding no further appeal is available, that the such Agent had acted in actual bad faith or in a grossly negligent manner. The Borrowers shall pay to the Administrative Agent, on demand, or the Administrative Agent, in its discretion, may add to the Loan Account, all amounts paid or incurred by the Administrative Agent pursuant to this section 4:4-22Section 4.22. The obligation of the Borrowers to pay such amounts is a Liability.

Protection of Assets. The Agent, in the Agent's discretion, and following written notice to at any time after the Lead Borrower, and from time to timeoccurrence of any Event of Default, may discharge any tax or Encumbrance on any of the Collateral, or take any other action which that the Agent may deem necessary or desirable to repair, insure, maintain, preserve, collect, or realize upon any of the Collateral. The Agent shall not have any obligation to undertake any of the foregoing and shall have no liability on account of any action so undertaken except where there is a specific finding in a judicial proceeding (in which the Agent has had an opportunity to be heard), from which finding no further appeal is available, that the Agent had acted in actual bad faith or in a grossly negligent manner. The Borrowers shall pay to the Agent, on demand, or the Agent, in its discretion, may add to the Loan Account, all amounts paid or incurred by the Agent pursuant to this section 4:4-22section. The obligation of the Borrowers to pay such amounts is a Liability.

Protection of Assets. The Agent, in the Agent's discretion, and following written notice to the Lead Borrower, and from time to time, if an Event of Default has occurred and is continuing, may discharge any tax or Encumbrance on any of the Collateral, or take any other action which the Agent reasonably may deem necessary or desirable to repair, insure, maintain, preserve, collect, or realize upon any of the Collateral. The Agent shall not have any obligation to undertake any of the foregoing and shall have no liability on account of any action so undertaken except where there is a specific finding in a judicial proceeding (in which the Agent has had an opportunity to be heard), from which finding no further appeal is available, that the Agent had acted in actual bad faith or in a grossly negligent manner. The Borrowers shall pay to the Agent, on demand, or the Agent, in its discretion, may add to the Loan Account, all amounts paid or incurred by the Agent pursuant to this section 4:4-22.

Protection of Assets. The Agent, in the Agent's discretion, and following with prior written notice to the Lead Borrower, and from time to time, may discharge any tax or Encumbrance on any of the Collateral, or take any other action which that the Agent may deem necessary or desirable to repair, insure, maintain, preserve, collect, or realize upon any of the Collateral. The Agent shall not have any obligation to undertake any of the foregoing and shall have no liability on account of any action so undertaken except where there is a specific finding in a judicial proceeding (in which the Agent has had an opportunity to be heard), from which finding no further appeal is available, that the Agent had acted in actual bad faith or in a grossly negligent manner. The Borrowers Borrower shall pay to the Agent, on demand, or the Agent, in its discretion, may add to the Loan Account, all amounts paid or incurred by the Agent Lender pursuant to this section 4:4-22section. The obligation of the Borrower to pay such amounts is a Liability.

Protection of Assets. The Agent, in the Agent's discretion, discretion if an Event of Default has occurred and following written notice to the Lead Borrower, and from time to timeis continuing, may discharge any tax or Encumbrance on any of the Collateral, or take any other action which the Agent reasonably may deem necessary or desirable to repair, insure, maintain, preserve, collect, or realize upon any of the Collateral. The Agent shall not have any obligation to undertake any of the foregoing and shall have no liability on account of any action so undertaken except where there is a specific finding in a judicial proceeding (in which the Agent has had an opportunity to be heard), from which finding no further appeal is available, that the Agent had acted in actual bad faith or in a grossly negligent manner. The Borrowers shall pay to the Agent, on demand, or the Agent, in its discretion, may add to the Loan Account, all amounts paid or incurred by the Agent pursuant to this section 4:4-22.

Protection of Assets. The Agent, in the Agent's discretion, and following written notice to the Lead Borrower, and from time to time, may discharge any tax or Encumbrance on any of the Collateral, or take any other action which that the Agent may deem necessary or desirable to repair, insure, maintain, preserve, collect, or realize upon any of the CollateralCollateral if the Borrower fails to do so. The Agent shall not have any obligation to undertake any of the foregoing and shall have no liability on account of any action so undertaken except where there is a specific finding in a judicial proceeding (in which the Agent has had an opportunity to be heard), from which finding no further appeal is available, that the Agent had acted in actual bad faith or in a grossly negligent manner. The Borrowers Borrower shall pay to the Agent, on demand, or the Agent, in its discretion, may add to the Loan Account, all amounts paid or incurred by the Agent pursuant to this section 4:4-22section. The obligation of the Borrower to pay such amounts is a Liability.