Advances by Lender. At any time and from time to time, Lender may incur and/or pay and/or advance costs or expenses: [i] which Lender is authorized or has the right (but not necessarily the obligation) to incur or may incur under any Loan Document or any law; [ii] in exercising any right or remedy provided under any Loan Document or in taking any action which Lender is authorized to take under any Loan Document; [iii] which are required to be paid by Borrower under any Loan Document, but which Borrower fails to pay upon demand; or [iv] from which Borrower is required to hold Lender harmless under any Loan Document, but from which Borrower fails to hold Lender harmless. Any costs, expenses, or advances incurred or paid by Lender shall become part of the Loan and, upon demand, shall be paid to Lender together with interest thereon at the Default Rate from the date of disbursement by Lender. Payment of such costs, expenses, or advances shall be secured by the Mortgage.
Advances by Lender. On failure of Pledgor to perform any of the covenants and agreements contained herein, Lender may, at its sole option and in its reasonable discretion, upon ten (10) business days prior written notice to Pledgor, perform the same and in so doing may expend such sums as Lender may reasonably deem advisable in the performance thereof, including, without limitation, a payment to obtain a release of a lien or potential lien, expenditures made in defending against any adverse claim and all other expenditures which Lender may make for the protection of the security hereof or which may be compelled to make by operation of law. All such sums and amounts so expended shall be repayable by Pledgor promptly upon notice and demand from Lender, shall constitute additional Obligations and shall bear interest from the date said amounts are expended at the default rate specified in the Loan Agreement. No such performance of any covenant or agreement by Lender on behalf of Pledgor, and no such advance or expenditure therefor, shall relieve Pledgor of any Event of Default. After an Event of Default, Lender may make any payment hereby authorized in accordance with any xxxx, statement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by Pledgor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.
Advances by Lender. At any time and from time to time during the term of this Mortgage, Lender may incur and/or pay and/or advance costs or expenses [i] incurred or advanced by Lender which Lender is authorized or has the right (but not necessarily the obligation) to incur or may incur under any term of any Loan Document or any law; [ii] of whatever nature incurred or advanced by Lender in exercising any right or remedy provided by any term of any Loan Document or in taking any action which Lender is authorized to take by any term of any Loan Document; [iii] required to be paid by Tenant by any term of any Loan Document, but which Tenant fails to pay upon demand; or [iv] any and all costs and expenses from which Tenant is required to hold Lender harmless by any term of any Loan Document, but from which Tenant fails to hold Lender harmless. Any reasonable costs, expenses, or advances incurred or paid by Lender shall become part of the Loan and, upon demand, shall be paid to Lender together with interest thereon at the default rate specified in the Note from the date of disbursement by Lender. Payment of such costs, expenses, or advances shall be secured by this Mortgage.
Advances by Lender. If Debtor shall fail to comply with any of the provisions of this Security Agreement, Lender may (but shall not be required to) make advances to perform the same, and where necessary enter any premises where any Collateral is located for the purpose of performing Debtor’s obligations under any such provision. Debtor agrees to repay all such sums advanced upon demand, with interest from the date such advances are made at the default rate of interest provided for in Section 3.1 of the Credit Agreement, and all sums so advanced with interest shall be a part of the Outstanding Obligations. The making of any such advances shall not be construed as a waiver by Lender of any Event of Default resulting from Debtor’s failure to pay such amounts.
Advances by Lender. Lender may make advances to perform any of the covenants contained in this Mortgage on Borrower's behalf and all sums so advanced (and all sums advanced pursuant to any other provision hereof) by Lender shall be secured hereby. Borrower shall repay on demand all sums so advanced with interest thereon at the Default Rate, such interest to be computed from and including the date of the making of such advance to and including the date of such repayment, and at Lender's election, Lender may add the amount of such advance to the principal balance of the Loan.
Advances by Lender. Advances of principal, repayment, and readvances may be made under this Agreement from time to time, but Lender, in its sole discretion and subject to provisions related to obligatory and discretionary advances, may refuse to make advances or readvances hereunder during any period(s) this Agreement is in default. All advances made will be charged to a loan account in Borrower’s name on Lender’s books, and the Lender shall debit such account for the amount of each advance made to, and credit to such account the amount of each repayment made by Borrower. If the Lender furnishes the Borrower with a statement of Borrower’s loan account, such statement shall be deemed to be correct, accepted by, and binding upon Borrower, unless Lender receives a written statement exception from Borrower within 10 days after such statement has been furnished.
Advances by Lender. The Borrower authorizes the Lender in the Lender's discretion to advance any sums necessary for the purpose of paying (i) insurance premiums, (ii) taxes, forced contributions, service charges, local assessments and governmental charges, (iii) any Liens or encumbrances affecting the Collateral (whether superior or subordinate to the Lien of this Mortgage) other than Permitted Liens, (iv) necessary repairs and maintenance expenses or (v) any other amounts which are covered by Section 4.16 ("Further Assurances") or which the Lender deems necessary and appropriate to preserve the validity and ranking of this Mortgage, to cure any Defaults or to prevent the occurrence of any Default, or otherwise authorized by this Mortgage (collectively, the "Advances") of whatever kind; provided, however, that nothing herein contained shall be construed as making such Advances obligatory upon Lender, or as making Lender liable for any loss, damage, or injury resulting from the nonpayment thereof. The Borrower covenants and agrees that within five (5) days after demand therefor by the Lender, the Borrower will repay the Advances to the Lender, together with interest thereon at the rate of twelve (12%) percent per annum from the date incurred. All such Advances (and interest) shall be included in the Indebtedness secured hereby, subject to the maximum amount of the Indebtedness set forth above in Section 2.5 ("Maximum Amount").
Advances by Lender. Subject to the following sentence, Lender may make Advances in payment of insurance premiums, taxes, assessments, liens or encumbrances existing against property encumbered by the Security Documents, interest accrued and payable upon any Loan, and any charges and expenses that are the obligation of Borrower under this Agreement or any of the other Loan Documents to the extent necessary to preserve the Collateral or to cure any Event of Default. Lender shall have the right to act in accordance with the preceding sentence (i) at any time after an Event of Default; (ii) at any time before an Event of Default if Borrower has failed to make any necessary payment in a timely manner; and (iii) at any time if Lender reasonably believes that prompt action on Lender's part is necessary or appropriate to ensure payment of the amount in question, protection of the Collateral or protection of any right of Lender under the Loan Documents.
Advances by Lender. Any funds of Lender used for any purpose referred to in this article shall constitute advances under the Loan and shall bear interest at the variable rate specified in the Note.
Advances by Lender. If Mortgagor fails to perform or keep any of its covenants of whatsoever kind or nature contained in this Mortgage, Lender or any receiver appointed hereunder, may, but will not be obliged to, make advances to perform the same in Mortgagor’s behalf, and Mortgagor hereby agrees to repay the advanced sums and any reasonable attorneys fees incurred in connection therewith upon demand plus interest at the maximum lawful rate. No advance will be deemed to relieve Mortgagor from any default hereunder.
