Common use of Reimbursement Obligation Clause in Contracts

Reimbursement Obligation. Should the Debtor fail to comply with the provisions of this Security Agreement, the Revolving Credit Agreement or any other agreement relating to the Collateral such that the value of any Collateral or the validity, perfection, rank or value of any security interest granted to the Agent hereunder or thereunder is thereby diminished or potentially diminished or put at risk (as reasonably determined by the Agent), the Agent on behalf of the Debtor may, but shall not be required to, effect such compliance on behalf of the Debtor, and the Debtor shall reimburse the Agent for the cost thereof on demand, and interest shall accrue on such reimbursement obligation from the date the relevant costs are incurred until reimbursement thereof in full at the Default Rate.

Reimbursement Obligation. Should the Debtor Client fail to comply with the provisions of this Security Agreement, the Revolving Credit Agreement Document or any Base Document to which it is a party or any other agreement relating to the Collateral such that the value of any Collateral or the validity, perfection, rank or value of any security interest granted to the Agent Provider hereunder or thereunder is thereby diminished or potentially diminished or put at risk (as reasonably determined by the AgentProvider), the Agent Provider on behalf of the Debtor Client may, but shall not be required to, effect such compliance on behalf of the DebtorClient, and the Debtor Client shall reimburse the Agent Provider for the cost thereof on demand, and interest shall accrue on such reimbursement obligation from the date the relevant costs are incurred until reimbursement thereof in full at the Default Ratefull.