Common use of LENDER'S EXPENDITURES Clause in Contracts

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 44 contracts

Samples: Business Loan Agreement (Autoscope Technologies Corp), Business Loan Agreement (Better Choice Co Inc.), Business Loan Agreement (Medalist Diversified REIT, Inc.)

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LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 41 contracts

Samples: Business Loan Agreement (ComSovereign Holding Corp.), Business Loan Agreement, Business Loan Agreement (Landmark Bancorp Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.

Appears in 26 contracts

Samples: Business Loan Agreement (Landmark Bancorp Inc), Security Agreement (AMERICAN POWER GROUP Corp), Security Agreement (Applied Optoelectronics, Inc.)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.

Appears in 23 contracts

Samples: Commercial Security Agreement (Dolphin Entertainment, Inc.), www.sec.gov, Business Loan Agreement (TX Holdings, Inc.)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the Note rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All To the extent permitted by applicable law, all such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 7 contracts

Samples: Business Loan Agreement (Black Ridge Oil & Gas, Inc.), Business Loan Agreement (Dougherty's Pharmacy, Inc.), Business Loan Agreement (Dougherty's Pharmacy, Inc.)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lenderlender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such Such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term terms of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 6 contracts

Samples: Loan Agreement (Ideal Accents Inc), Business Loan Agreement (Ideal Accents Inc), Business Loan Agreement (Ideal Accents Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes purposes, with the exception of insurance premiums paid by Lender with respect to motor vehicles, but including the payment of attorneys’ fees and expenses, will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.

Appears in 6 contracts

Samples: Commercial Security Agreement (Wayside Technology Group, Inc.), Commercial Security Agreement (Wayside Technology Group, Inc.), Commercial Security Agreement (Wayside Technology Group, Inc.)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 3 contracts

Samples: Business Loan Agreement (Elecsys Corp), Credit Agreement (Petmed Express Inc), Wolohan Lumber Co

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the Note rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All To the extent permitted by applicable law, all such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.

Appears in 3 contracts

Samples: Security Agreement (Applied Optoelectronics, Inc.), Dougherty's Pharmacy, Inc., Dougherty's Pharmacy, Inc.

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 3 contracts

Samples: Loan Agreement (Apollo Medical Holdings, Inc.), Business Loan Agreement (Ddi Corp), Business Loan Agreement (Super Micro Computer, Inc.)

LENDER'S EXPENDITURES. If any Ix xxx action or proceeding is commenced that would materially affect Lender's interest in the Collateral Xxxxxteral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upxx Xxfault.

Appears in 3 contracts

Samples: American Consumers Inc, American Consumers Inc, American Consumers Inc

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 3 contracts

Samples: Business Loan Agreement (Heritage Global Inc.), Business Loan Agreement (Heritage Global Inc.), Business Loan Agreement (Eaco Corp)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral Property or if Borrower Grantor fails to comply with any provision of this Agreement Assignment or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement Assignment or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral the Rents or the Property and paying all costs for insuring, maintaining and preserving any Collateralthe Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.. The Assignment also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default. ASSIGNMENT OF RENTS

Appears in 3 contracts

Samples: Assignment of Rents (Arts Way Manufacturing Co Inc), Assignment of Rents (Arts Way Manufacturing Co Inc), Assignment of Rents (Arts Way Manufacturing Co Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.

Appears in 2 contracts

Samples: Commercial Security Agreement (Auto Graphics Inc), Commercial Security Agreement (Auto Graphics Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note Notes from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note Notes and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the NoteNotes; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.

Appears in 2 contracts

Samples: Commercial Pledge Agreement (Utg Inc), Commercial Pledge Agreement (Utg Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note Notes from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note Notes and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the NoteNotes; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default. LIMITATIONS ON

Appears in 2 contracts

Samples: Pledge Agreement, www.sec.gov

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision provisions of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender Lender, on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interestsinterest, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the Note rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All To the extent permitted by applicable law, all such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 2 contracts

Samples: Business Loan Agreement (TSS, Inc.), Business Loan Agreement (TSS, Inc.)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Security Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Security Agreement or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. This Security also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.

Appears in 2 contracts

Samples: Security Agreement (Heron Lake BioEnergy, LLC), Security Agreement (Heron Lake BioEnergy, LLC)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Loan Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Loan Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 2 contracts

Samples: Construction Loan Agreement (Shepherd's Finance, LLC), Construction Loan Agreement (Shepherd's Finance, LLC)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the Note rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All To the extent permitted by applicable law, all such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.

Appears in 2 contracts

Samples: Business Loan Agreement (NYTEX Energy Holdings, Inc.), Commercial Pledge Agreement (Houston Post Oak Partners LTD)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, . Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, ’s option will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.

Appears in 2 contracts

Samples: Security Agreement (Gta-Ib, LLC), Security Agreement (Golf Trust of America Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts amounts; Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 2 contracts

Samples: Commercial Pledge Agreement (Advanced Life Sciences Holdings, Inc.), Commercial Pledge Agreement (Advanced Life Sciences Holdings, Inc.)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails Grantors fail to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantors’ failure to discharge or pay when due any amounts Borrower is Grantors are required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantors’ behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the BMH Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantors. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the BMH Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the BMH Note; or (C) be treated as a balloon payment which will be due and payable at the Note's BMH Note maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.

Appears in 2 contracts

Samples: Commercial Pledge Agreement (Shepherd's Finance, LLC), Commercial Pledge Agreement (Shepherd's Finance, LLC)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (Bb) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.

Appears in 2 contracts

Samples: Commercial Pledge Agreement (Sterion Inc), Commercial Pledge Agreement (Sterion Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the Note rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All To the extent permitted by applicable law, all such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 2 contracts

Samples: Business Loan Agreement (RBC Life Sciences, Inc.), Business Loan Agreement (NYTEX Energy Holdings, Inc.)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or and paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C3) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.

Appears in 2 contracts

Samples: Security Agreement (CarePayment Technologies, Inc.), Commercial Security Agreement (Microhelix Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral Projects or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral Property and paying all costs for insuring, maintaining and preserving any CollateralProperty. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 2 contracts

Samples: Construction Loan Agreement, Construction Loan Agreement

LENDER'S EXPENDITURES. If any action xxx xction or proceeding is commenced that would materially affect Lender's interest in the Collateral Cxxxxxxral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become expensex xxxx xecome a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 2 contracts

Samples: Business Loan Agreement (Dynasil Corp of America), Business Loan Agreement (Dynasil Corp of America)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's Lenders' interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender Lenders on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender Lenders deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender Lenders for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender Lenders to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's Lenders' option, will (A) be payable on demand; (B) be added to the balance balances of the Note Notes and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the NoteNotes; or (C) be treated as a balloon payment which will be due and payable at the Note's maturityearlier of the Notes' maturities. The Collateral also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lenders may be entitled upon Default.

Appears in 2 contracts

Samples: Intercreditor Agreement (Windsortech Inc), Intercreditor Agreement (Windsortech Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower Beneficiary fails to comply with any provision of this Pledge Agreement or any Related Financing Documents, including but not limited to Borrower's Beneficiary’s failure to discharge or pay when due any amounts Borrower Beneficiary is required to discharge or pay under this Pledge Agreement or any Related Financing Documents, Lender on Borrower's Beneficiary’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note Interest Rate from the date incurred or paid by Lender to the date of repayment by BorrowerTrust. All such expenses will become a part of the Indebtedness Obligations and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note Total Amount Due and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policyLife Insurance Policy; or (2) the remaining term of the NoteLoan Agreement; or (C) be treated as a balloon payment which will be due and payable at the Note's maturityMaturity Date. The liens created under this Pledge Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon an Event of Default.

Appears in 2 contracts

Samples: Financing Agreement (Imperial Holdings, LLC), Financing Agreement (Imperial Holdings, LLC)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; policy or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such rights shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.

Appears in 2 contracts

Samples: Commercial Pledge Agreement (Advanced Life Sciences Holdings, Inc.), Commercial Pledge Agreement (Advanced Life Sciences Holdings, Inc.)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral Property or if Borrower Grantor fails to comply with any provision of this Agreement Mortgage or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement Mortgage or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral the Property and paying all costs for insuring, maintaining and preserving any Collateralthe Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part pert of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Mortgage also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.

Appears in 2 contracts

Samples: Golf Trust of America Inc, Gta-Ib, LLC

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated toto ) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.

Appears in 2 contracts

Samples: Commercial Security Agreement (Ogden Golf Co Corp), Commercial Security Agreement (Ogden Golf Co Corp)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially adversely affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures ("Lender's Expenditures") incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses Lender's Expenditures will become a part of the Indebtedness and, at Lender's option, Lenders option will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 2 contracts

Samples: Commercial Security Agreement (Niku Corp), Business Loan Agreement (Niku Corp)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Grantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Grantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1,) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and end payable at the Note's ’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.

Appears in 2 contracts

Samples: Security Agreement (Hickok Inc), Securlty Agreement (Hickok Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interestsinterest, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All the Collateral all such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from form the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; , (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or , (2) the remaining term of the Note; , or (C3) be treated as a balloon payment which will be due and payable at the Note's maturity. The Collateral also will secure payment of these amounts. Such right shall be in addition to all other right san remedies to which Lender may be entitled upon Default.

Appears in 2 contracts

Samples: Commercial Pledge Agreement (Wellington Hall LTD), Commercial Security Agreement (Wellington Hall LTD)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Construction Loan Agreement (Meritage Hospitality Group Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be he payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Business Loan Agreement (TX Holdings, Inc.)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to b comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or Of pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all ail costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All Ail such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to b the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Loan Agreement (Champion Industries Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Loan Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Loan Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Construction Loan Agreement (Shepherd's Finance, LLC)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interestsinterest, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Southern Michigan Bancorp Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may my (but shall not be obligated to) to take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or of (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Loan Agreement (Pc Universe Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, . encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option’s option , will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Loan Agreement (Torotel Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date day of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (Aa) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (Cb) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Business Loan Agreement (CarePayment Technologies, Inc.)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at al the Note's ’s maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Greenwood Hall, Inc.)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; within fifteen (15) days of the date of written demand therefore (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Business Loan Agreement (FGI Industries Ltd.)

LENDER'S EXPENDITURES. If any Xx xxy action or proceeding is commenced that would materially affect Lender's interest in the Collateral txx Xxxlateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will expxxxxx xxll become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Loan Agreement (Coeur D Alenes Co /Ia/)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Ministry Partners Investment Corp)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interestsInterests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Business Loan Agreement (I O Magic Corp/Ca)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails Borrowers fail to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Borrowers' failure to discharge or pay when due any amounts Borrower is Borrowers are required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf Borrowers' behalf, may (but shall not be obligated to) take any action that Lender reasonably deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note Notes from the date incurred or paid by Lender to the date of repayment by BorrowerBorrowers. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; or (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturitymaturity of the Notes. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon an Event of Default.

Appears in 1 contract

Samples: Security Agreement (Telanetix,Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would would, materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all ail costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Loan Agreement (Champion Industries Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any Loan No: 20105324894 BUSINESS LOAN AGREEMENT (Continued) Page 6 installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Landec Corp \Ca\)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that hat would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated toto ) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any place don ay Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on eon demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term terms of any applicable insurance policy; policy or (2) the remaining term of the Note; or (C) be b treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Business Loan Agreement (BayFirst Financial Corp.)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral Property or if Borrower Trustor fails to comply with any provision of this Agreement Deed of Trust or any Related Documents, including but not limited to Borrower's Trustor’s failure to discharge or pay when due any amounts Borrower Trustor is required to discharge or pay under this Agreement Deed of Trust or any Related Documents, Lender on Borrower's Trustor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral the Property and paying all costs for insuring, maintaining and preserving any Collateralthe Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerTrustor. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity. The Deed of Trust also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.

Appears in 1 contract

Samples: Business Loan Agreement (Qad Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment Installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Loan Agreement (Hemet Bancorp)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect effect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Portfolio Recovery Associates Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's Lenders option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a BUSINESS LOAN AGREEMENT (Continued) Page 4 ================================================================================ balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Integrated Packaging Assembly Corp)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.. ­ ­ BUSINESS LOAN AGREEMENT (Continued) Loan No: 323876

Appears in 1 contract

Samples: Business Loan Agreement (Champion Industries Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a BUSINESS LOAN AGREEMENT (Continued) Page 3 ================================================================================ balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Portfolio Recovery Associates Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ' s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender Lender, on Borrowerborrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Torotel Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails Borrowers fail to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Borrowers failure to discharge or pay when due any amounts Borrower is Borrowers are required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Borrowers’ behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied period or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerBorrowers. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Sports Field Holdings, Inc.)

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LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, . at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Uroplasty Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced comxxxxxx that would materially affect Lender's interest in the Collateral or if Borrower fails to comply xx xxxply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness Indxxxxxxxxs and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Loan Agreement (Red Trail Energy, LLC)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be he obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will ({A) } be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or ({C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Homenet Corp)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Related. Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Amphastar Pharmaceuticals, Inc.

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if a Borrower fails to comply with any provision of this Agreement or any Related Documentsrelated documents, including but not limited to without limitation, a Borrower's ’s failure to discharge or pay when due any amounts a Borrower is required to discharge or pay under this Agreement or any Related Documentsrelated documents, Lender on a Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to without limitation, discharging or paying all taxes, liens, security interests, encumbrances encumbrances, and any other claims, at any the time levied or placed on any Collateral and paying all costs for insuring, ; maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate being charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrowersuch expenditure is repaid to Lender. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will shall be (Aa) be payable on upon demand; (Bb) be added to the principal balance of the Note Indebtedness and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (Cc) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Master Loan Agreement (Air T Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral Property or if Borrower Grantor fails to comply with any provision of this Agreement Assignment or any Related Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement Assignment or any Related Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral the Rents or the Property and paying all costs for insuring, maintaining and preserving any Collateralthe Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.either

Appears in 1 contract

Samples: Autoscope Technologies Corp

LENDER'S EXPENDITURES. If any action or proceeding is Is commenced that would materially affect Lender's interest Interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuringInsuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest Interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Business Loan Agreement (William Lyon Homes)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining maintaining, and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which that will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Belvedere SoCal)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Loan Documents, including but not limited to BorrowerGrantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement, the Registration Agreement or any Related Loan Documents, Lender on BorrowerGrantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.

Appears in 1 contract

Samples: Security Agreement (HealthWarehouse.com, Inc.)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, appropriate including but not limited to discharging or paying all taxes, taxes liens, security interests, interests encumbrances and other claims, claims at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; , (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; , or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is in effect. Borrower shall not without the prior written consent of Lender.

Appears in 1 contract

Samples: Business Loan Agreement (Ironclad Performance Wear Corp)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) 11 the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is in effect, Borrower shall not, without the prior written consent of Lender:

Appears in 1 contract

Samples: Loan Agreement (Charge Enterprises, Inc.)

LENDER'S EXPENDITURES. If any action or proceeding is Is commenced that would materially affect Lender's Lender`s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Borrower`s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Borrower`s behalf may (but shall not be he obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's Lender`s option, will (A) be payable on demand; (B) be he added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.any

Appears in 1 contract

Samples: Trimedia Entertainment Group Inc

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails falls to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Husker Ag Processing LLC)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest ’s Interest in the Collateral or if Borrower fails falls to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interestsSecurity Interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A1) be payable on demand; (B2) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1A) the term of any applicable insurance policy; policy or (2B) the remaining term of the Note; or (C3) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Advanced Life Sciences Holdings, Inc.)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest Interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but or shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Stronghold Technologies Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due dLIG any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. Collateral All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such Such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either BUSINESS LOAN AGREEMENT (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.Continued)

Appears in 1 contract

Samples: Business Loan Agreement (Chicago Pizza & Brewery Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest Interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Change in Terms Agreement (Phone1globalwide Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.. BUSINESS LOAN AGREEMENT

Appears in 1 contract

Samples: Business Loan Agreement (BioLife4D Corp)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. Collateral All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; : or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. Any Collateral also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default.

Appears in 1 contract

Samples: Business Loan Agreement (Gerimed of America Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including including, but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Ronson Corp)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails has to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Loan Agreement (Westerbeke Corp)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Community First Bancorp Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related the Loan Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Loan Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (Aa) be payable on demand; (Bb) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1i) the term of any applicable insurance policy; or (2ii) the remaining term of the Note; or (Cc) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Business Loan Agreement (NV5 Holdings, Inc.)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining maintaining, and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by the Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Husker Ag Processing LLC)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due du e any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time after the date of this Agreement levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Business Loan Agreement (LiveXLive Media, Inc.)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, subject to any applicable cure periods, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender reasonably deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note (including default interest) from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will will: (A1) be payable on demand; (B2) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1a) the term of any applicable insurance policy; , or (2b) the remaining term of the Note; or (C3) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Pet DRx CORP)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including Including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; or (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Loan Agreement (Opnet Technologies Inc)

LENDER'S EXPENDITURES. If any action xxx xction or proceeding is commenced that would materially affect Lender's interest in the Collateral Colxxxxxxl or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interestsInterests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become wxxx xxxxme a part of the Indebtedness indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Loan Agreement (I/Omagic Corp)

LENDER'S EXPENDITURES. If any action xxxxxn or proceeding is commenced that would materially affect Lender's interest in the Collateral Collaxxxxx or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All Al) such expenses will become xxxx xxxome a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Eldorado Artesian Springs Inc

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (Aa) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (Cc) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Cornerstone Realty Fund LLC)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including Including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Borrowers behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including Including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at al any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred Incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred Incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Microhelix Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower Bor rower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Bor rower’ s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's Bor rower’s behalf may (but shall not be obligated to) take any action that Lender deems appropriateappropr iate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's Lender ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during dur ing either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity’s matur ity.

Appears in 1 contract

Samples: Business Loan Agreement (Shells Seafood Restaurants Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Badger Meter Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, . Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, . liens, . security interests, encumbrances and other claims, . at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option’s option , will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Torotel Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's Lenders option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Collectors Universe Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is in effect, Borrower shall not, without the prior written consent of Lender:

Appears in 1 contract

Samples: Business Loan Agreement (Super Vision International Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails Borrowers fail to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's Borrowers' failure to discharge or pay when due any amounts Borrower is Borrowers are required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf Borrowers' behalf, may (but shall not be obligated to) take any action that Lender reasonably deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by BorrowerBorrowers. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Term Note; or (C) be treated as a balloon payment which will be due and payable at the such Note's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon an Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Telanetix,Inc)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's ’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's ’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's ’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including . Including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred Incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender's ’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's ’s maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Nanophase Technologies Corporation)

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C3) be treated as a balloon payment which will be due and payable at the Note's maturity.

Appears in 1 contract

Samples: Business Loan Agreement (Elecsys Corp)

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