Common use of Right to Perform, Preserve and Protect Clause in Contracts

Right to Perform, Preserve and Protect. Upon and during the continuance of any Default or Event of Default, Administrative Agent itself may, but shall not be obligated to, cause any obligation of any Credit Party hereunder or under any other Financing Document to be performed at Borrowers' expense. Upon and during the continuance of any Default or Event of Default, Administrative Agent is further authorized by Borrowers and the Lenders to make expenditures from time to time which Administrative Agent, in its reasonable business judgment, deems necessary or desirable to (a) preserve or protect the business conducted by Borrowers, the Collateral, or any portion thereof, and/or (b) enhance the likelihood of, or maximize the amount of, repayment of the Loans and other Obligations. Each Borrower hereby agrees to reimburse Administrative Agent on demand for any and all costs (which costs shall be reasonable), liabilities and obligations incurred by Administrative Agent pursuant to this Section 13.14. Each Lender hereby agrees to indemnify Administrative Agent upon demand for any and all costs, liabilities and obligations incurred by Administrative Agent pursuant to this Section 13.14, in accordance with the provisions of Section 13.6.

Appears in 3 contracts

Samples: Credit and Security Agreement (American Retirement Corp), Credit and Security Agreement (American Retirement Corp), Credit and Security Agreement (American Retirement Corp)

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Right to Perform, Preserve and Protect. Upon and during If the continuance of Borrower fails to perform any Default obligation hereunder or Event of Defaultunder any other Loan Document, the Administrative Agent itself may, but shall not be obligated to, cause any such obligation of any Credit Party hereunder or under any other Financing Document to be performed at Borrowers' Borrower’s expense. Upon and during the continuance of any Default or Event of Default, The Administrative Agent is further authorized by Borrowers the Borrower and the Lenders to make expenditures from time to time which the Administrative Agent, in its reasonable business judgment, deems necessary or desirable to (ai) preserve or protect the business conducted by Borrowers, the Collateral, Borrower or any portion thereof, thereof and/or (bii) enhance the likelihood of, or maximize the amount of, repayment of the Loans and other ObligationsAdvances. Each The Borrower hereby agrees to reimburse the Administrative Agent on demand for any and all costs (which costs shall be reasonable)costs, liabilities and obligations incurred by the Administrative Agent pursuant to this Section 13.147.11. Each Lender hereby agrees to indemnify the Administrative Agent upon demand for any and all costs, liabilities and obligations incurred by the Administrative Agent pursuant to this Section 13.14, in accordance with the provisions of Section 13.67.11.

Appears in 2 contracts

Samples: Credit Agreement, Credit Agreement

Right to Perform, Preserve and Protect. Upon and during the continuance of If any Default Restricted Person fails to perform any obligation hereunder or Event of Defaultunder any other Loan Document, Administrative Agent itself may, but shall not be obligated to, cause any such obligation of any Credit Party hereunder or under any other Financing Document to be performed at Borrowers' Borrower’s expense. Upon and during the continuance of any Default or Event of Default, Administrative Agent is further authorized by Borrowers Borrower, Lenders and the Lenders LC Issuer to make expenditures from time to time which that Administrative Agent, in its reasonable business judgment, deems necessary or desirable to (ai) preserve or protect the business conducted by BorrowersBorrower, the Collateral, or any portion thereof, thereof and/or (bii) enhance the likelihood of, or maximize the amount of, repayment of the Loans and other Obligations. Each Borrower hereby agrees to reimburse Administrative Agent on demand for any and all costs (which costs shall be reasonable)costs, liabilities and obligations incurred by Administrative Agent pursuant to this Section 13.1410.14. Each Lender hereby agrees to indemnify Administrative Agent upon demand for any and all costs, liabilities and obligations incurred by Administrative Agent pursuant to this Section 13.1410.14, and all such amounts shall be deemed to be included within and covered by Borrower’s indemnification obligation more particularly described in accordance with the provisions Section 9.2 of Section 13.6this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Unit Corp)

Right to Perform, Preserve and Protect. Upon and during If any Credit Party fails to perform any obligation hereunder or under any other Transaction Document, the continuance of any Default or Event of Default, Administrative Agent itself may, but shall not be obligated to, cause any such obligation of any Credit Party hereunder or under any other Financing Document to be performed at Borrowers' the Borrower’s expense. Upon and during the continuance of any Default or Event of Default, The 56 US-DOCS\137537506.9 Administrative Agent is further authorized by Borrowers the Borrower and the Lenders to make expenditures from time to time which the Administrative Agent, in its reasonable business judgment, deems necessary or desirable to (a) preserve or protect the business conducted by Borrowersthe Borrower, the Collateral, or any portion thereof, and/or (b) enhance the likelihood of, or maximize the amount of, repayment of the Loans and other Borrower Obligations. Each The Borrower hereby agrees to reimburse the Administrative Agent on demand for any and all costs (which costs shall be reasonable)costs, liabilities and obligations incurred by the Administrative Agent pursuant to this Section 13.1411.17. Each Lender hereby agrees to indemnify the Administrative Agent upon demand for any and all costs, liabilities and obligations incurred by the Administrative Agent pursuant to this Section 13.1411.17, in accordance with the provisions of Section 13.6.11.06. ARTICLE XII [RESERVED] ARTICLE XIII

Appears in 1 contract

Samples: Loan and Security Agreement (Bird Global, Inc.)

Right to Perform, Preserve and Protect. Upon the occurrence and during the continuance continuation of any Default or an Event of Default, Administrative if any Credit Party fails to perform any obligation hereunder or under any other Financing Document (after giving effect to any cure periods provided for in this Agreement or such other Financing Document), Agent itself may, but shall not be obligated to, cause any such obligation of any Credit Party hereunder or under any other Financing Document to be performed at Borrowers' expense. Upon and during the continuance of any Default or Event of Default, Administrative Agent is further authorized by Borrowers and the Lenders to make expenditures from time to time which Administrative Agent, in its reasonable business judgment, deems necessary or desirable to (a) preserve or protect the business conducted by Borrowers, the Collateral, or any portion thereof, and/or (b) enhance the likelihood of, or maximize the amount of, repayment of the Loans Loan and other Obligations. Each Borrower hereby agrees to reimburse Administrative Agent on demand for any and all costs (which costs shall be reasonable)costs, liabilities and obligations incurred by Administrative Agent pursuant to this Section 13.14. Each Lender hereby agrees to indemnify Administrative Agent upon demand for any and all costs, liabilities and obligations incurred by Administrative Agent pursuant to this Section 13.14, in accordance with the provisions of Section 13.6.

Appears in 1 contract

Samples: Credit and Security Agreement (Emeritus Corp\wa\)

Right to Perform, Preserve and Protect. Upon and during If any Obligor fails to perform any obligation hereunder or under any other Credit Document, the continuance of any Default or Event of Default, Administrative Agent itself may, but shall not be obligated to, cause any such obligation of any Credit Party hereunder or under any other Financing Document to be performed at Borrowers' Borrower's expense. Upon and during the continuance of any Default or Event of Default, The Administrative Agent is further authorized by Borrowers Borrower and the Lenders to make expenditures from time to time which the Administrative Agent, in its reasonable business judgment, deems necessary or desirable to (ai) preserve or protect the business conducted by BorrowersBorrower, the Collateral, or any portion thereof, thereof and/or (bii) enhance the likelihood of, or maximize the amount of, repayment of the Loans and other Obligations. Each Borrower hereby agrees to reimburse the Administrative Agent on demand for any and all costs (which costs shall be reasonable)costs, liabilities and obligations incurred by the Administrative Agent pursuant to this Section 13.1411.06. Each Lender hereby agrees to indemnify the Administrative Agent upon demand for any and all costs, liabilities and obligations incurred by the Administrative Agent pursuant to this Section 13.1411.06, in accordance with the provisions of Section 13.611.02.

Appears in 1 contract

Samples: Credit Agreement (Atrium Companies Inc)

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Right to Perform, Preserve and Protect. Upon and If any Restricted Person fails to perform any obligation hereunder or under any other Loan Document during the continuance of any Default or Event of Default, the Administrative Agent itself may, but shall not be obligated to, cause any such obligation of any Credit Party hereunder or under any other Financing Document to be performed at Borrowers' the Borrower’s expense. Upon and during the continuance of any Default or Event of Default, The Administrative Agent is further authorized by Borrowers the Borrower, the Lenders, and the Lenders LC Issuer to make expenditures from time to time which that the Administrative Agent, in its reasonable business judgment, deems necessary or desirable to (a) preserve or protect the business conducted by Borrowersthe Borrower, the Collateral, or any portion thereof, thereof and/or (b) enhance the likelihood of, or maximize the amount of, repayment of the Loans and the other Obligations. Each The Borrower hereby agrees to reimburse the Administrative Agent on demand for any and all costs (which costs shall be reasonable)costs, liabilities liabilities, and obligations incurred by the Administrative Agent pursuant to this Section 13.1410.14. Each Lender hereby agrees to indemnify the Administrative Agent upon demand for any and all costs, liabilities liabilities, and obligations incurred by the Administrative Agent pursuant to this Section 13.1410.14, and all such amounts shall be deemed to be included within and covered by the Borrower’s indemnification obligation more particularly described in accordance with the provisions Section 9.2 of Section 13.6this Agreement.

Appears in 1 contract

Samples: Loan Agreement (Acacia Research Corp)

Right to Perform, Preserve and Protect. Upon and during the continuance of If Borrower fails to perform any Default obligation hereunder or Event of Defaultunder any other Loan Document, Administrative Agent itself may, but shall not be obligated to, cause any such obligation of any Credit Party hereunder or under any other Financing Document to be performed at Borrowers' Borrower’s expense. Upon and during the continuance of any Default or Event of Default, Administrative Agent is further authorized by Borrowers Borrower and the Lenders to make expenditures from time to time which Administrative Agent, in its reasonable business judgment, deems necessary or desirable to (ai) preserve or protect the business conducted by Borrowers, the Collateral, Borrower or any portion thereof, thereof and/or (bii) enhance the likelihood of, or maximize the amount of, repayment of the Loans and other ObligationsAdvances. Each Borrower hereby agrees to reimburse Administrative Agent on demand for any and all costs (which costs shall be reasonable)costs, liabilities and obligations incurred by Administrative Agent pursuant to this Section 13.147.14. Each Lender hereby agrees to indemnify Administrative Agent upon demand for any and all costs, liabilities and obligations incurred by Administrative Agent pursuant to this Section 13.14, 7.14 and all such amounts shall be deemed to be included within and covered by the Borrower’s indemnification obligation more particularly described in accordance with the provisions Section 8.04(b) of Section 13.6.this Agreement. SECTION 7.15

Appears in 1 contract

Samples: Credit Agreement (Ohio Power Co)

Right to Perform, Preserve and Protect. Upon and during the continuance of If any Default Credit Party fails to perform any obligation hereunder or Event of Defaultunder any other Loan Document, Administrative Agent itself may, but shall not be obligated to, cause any such obligation of any Credit Party hereunder or under any other Financing Document to be performed at Borrowers' Borrower’s expense. Upon and during the continuance of any Default or Event of Default, Administrative Agent is further authorized by Borrowers Borrower, Lenders and the Lenders any LC Issuer to make expenditures from time to time which that Administrative Agent, in its reasonable business judgment, deems necessary or desirable to (ai) preserve or protect the business conducted by BorrowersBorrower, the Collateral, or any portion thereof, thereof and/or (bii) enhance the likelihood of, or maximize the amount of, repayment of the Loans and other Obligations. Each Borrower hereby agrees to reimburse Administrative Agent on demand for any and all costs (which costs shall be reasonable)costs, liabilities and obligations incurred by Administrative Agent pursuant to this Section 13.1410.14. Each Lender hereby agrees to indemnify Administrative Agent upon demand for any and all costs, liabilities and obligations incurred by Administrative Agent pursuant to this Section 13.1410.14, and all such amounts shall be deemed to be included within and covered by Borrower’s indemnification obligation more particularly described in accordance with Section 9.2 of this Agreement, subject to the provisions of limitations set forth in Section 13.69.2.

Appears in 1 contract

Samples: Credit Agreement

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