Common use of Performance by Agent Clause in Contracts

Performance by Agent. If any Company's covenant, duty, or agreement is not performed in accordance with the terms of the Loan Documents, Agent may, while a Default exists, at its option (but subject to the approval of Determining Lenders), perform or attempt to perform that covenant, duty, or agreement on behalf of that Company (and any amount expended by Agent in its performance or attempted performance is payable by the Companies, jointly and severally, to Agent on demand, becomes part of the Obligation, and bears interest at the Default Rate from the date of Agent's expenditure until paid). However, Agent does not assume and shall never have, except by its express written consent, any liability or responsibility for the performance of any Company's covenants, duties, or agreements.

Appears in 4 contracts

Samples: Credit Agreement (Magnetek Inc), Credit Agreement (Goodrich Petroleum Corp), Credit Agreement (Affiliated Computer Services Inc)

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Performance by Agent. If any Company's covenant, duty, duty or agreement of any -------------------- Company is not performed in accordance with the terms of the Loan DocumentsPapers, Agent may, while a Default exists, at its option (but subject to the approval of Determining Required Lenders), perform or attempt to perform that covenant, duty, duty or agreement on behalf of that Company (and any amount expended by Agent in its performance or attempted performance is payable by the Companies, jointly and severally, to Agent on demand, becomes part of the Obligation, and bears interest at the Default Rate from the date of Agent's expenditure until paid). However, Agent does not assume and shall never have, except by its express written consent, any liability or responsibility for the performance of any covenant, duty or agreement of any Company's covenants, duties, or agreements.

Appears in 3 contracts

Samples: Credit Agreement (Vail Resorts Inc), Credit Agreement (Vail Resorts Inc), Credit Agreement (Vail Resorts Inc)

Performance by Agent. If any Company's covenant, duty, duty or agreement of any Company is not performed in accordance with the terms of the Loan Documents, Agent may, while a Default exists, at its option (but subject to the approval of Determining Lenders), perform or attempt to perform that covenant, duty, duty or agreement on behalf of that Company (and any amount expended by Agent in its performance or attempted performance is payable by the Companies, jointly and severally, to Agent on demand, becomes part of the Obligation, and bears interest at the Default Rate from the date of Agent's expenditure until paid). However, neither Agent does not assume and nor any Lender assumes or shall never have, except by its express written consent, any liability or responsibility for the performance of any covenant, duty or agreement of any Company's covenants, duties, or agreements.

Appears in 2 contracts

Samples: Credit Agreement (Nci Building Systems Inc), Credit Agreement (Nci Building Systems Inc)

Performance by Agent. If any Company's covenant, duty, duty or agreement of any Company is not performed in accordance with the terms of the Loan DocumentsPapers, Agent may, while a Default exists, at its option (but subject to the approval of Determining Required Lenders), perform or attempt to perform that covenant, duty, duty or agreement on behalf of that Company (and any amount expended by Agent in its performance or attempted performance is payable by the Companies, jointly and severally, to Agent on demand, becomes part of the Obligation, and bears interest at the Default Rate from the date of Agent's expenditure until paid). However, Agent does not assume and shall never have, except by its express written consent, any liability or responsibility for the performance of any covenant, duty or agreement of any Company's covenants, duties, or agreements.

Appears in 1 contract

Samples: Credit Agreement (Vail Resorts Inc)

Performance by Agent. If any Company's covenant, duty, duty or agreement of any Company is not performed in accordance with the terms of the Loan DocumentsPapers, Agent may, while a Default exists, at its option (but subject to the approval of Determining Majority Lenders), perform or attempt to perform that covenant, duty, duty or agreement on behalf of that Company (and any amount expended by Agent in its performance or attempted performance is payable by the Companies, jointly and severally, to Agent on demand, becomes part of the Obligation, and bears interest at the Default Rate from the date of Agent's expenditure until paid). However, neither Agent does not assume and nor any Lender assumes or shall never have, except by its express written consent, any liability or responsibility for the performance of any covenant, duty or agreement of any Company's covenants, duties, or agreements.

Appears in 1 contract

Samples: Credit Agreement (Monro Muffler Brake Inc)

Performance by Agent. If any Company's ’s covenant, duty, or agreement is not performed in accordance with the terms of the Loan Documents, Agent may, while a Default exists, at its option (but subject to the approval of Determining Lenders), perform or attempt to perform that covenant, duty, or agreement on behalf of that Company (and any amount expended by Agent in its performance or attempted performance is payable by the Companies, jointly and severally, to Agent on demand, becomes part of the Obligation, and bears interest at the Default Rate from the date of Agent's ’s expenditure until paid). However, Agent does not assume and shall never have, except by its express written consent, any liability or responsibility for the performance of any Company's ’s covenants, duties, or agreements.

Appears in 1 contract

Samples: Credit Agreement (Goodrich Petroleum Corp)

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Performance by Agent. If any Company's covenant, duty, duty or agreement -------------------- of any Company is not performed in accordance with the terms of the Loan DocumentsPapers, Agent may, while a Default exists, at its option (but subject to the approval of Determining Required Lenders), perform or attempt to perform that covenant, duty, duty or agreement on behalf of that Company (and any amount expended by Agent in its performance or attempted performance is payable by the Companies, jointly and severally, to Agent on demand, becomes part of the Obligation, and bears interest at the Default Rate from the date of Agent's expenditure until paid). However, neither Agent does not assume and nor any Lender assumes or shall never have, except by its express written consent, any liability or responsibility for the performance of any covenant, duty or agreement of any Company's covenants, duties, or agreements.

Appears in 1 contract

Samples: Credit Agreement (Morningstar Group Inc)

Performance by Agent. If any Company's covenant, duty, or agreement is not performed in accordance with the terms of the Loan Documents, Agent may, while a Default exists, at its option (but subject to the approval of Determining Lenders), perform or attempt to perform that covenant, duty, or agreement on behalf of that Company (and any amount expended by Agent in its performance or attempted performance is payable by the Companies, jointly and severally, to Agent on demand, becomes part of the ObligationObligations, and bears interest at the Default Rate from the date of Agent's expenditure until paid). However, Agent does not assume and shall never have, except by its express written consent, any liability or responsibility for the performance of any Company's covenants, duties, or agreements.

Appears in 1 contract

Samples: Credit Agreement (Pillowtex Corp)

Performance by Agent. If any Company's covenant, duty, duty or agreement of -------------------- Borrower is not performed in accordance with the terms of the Loan Documents, Agent may, while a Default exists, at its option (but subject to the approval of Determining Required Lenders), perform or attempt to perform that covenant, duty, duty or agreement on behalf of that Company Borrower (and any amount expended by Agent in its performance or attempted performance is payable by the CompaniesBorrower, jointly and severally, to Agent on demand, becomes part of the Obligation, and bears interest at the Default Rate from the date of Agent's expenditure until paid). However, Agent does not assume and shall never have, except by its express written consent, any liability or responsibility for the performance of any Company's covenantscovenant, duties, duty or agreementsagreement of Borrower.

Appears in 1 contract

Samples: Credit Agreement (Vail Resorts Inc)

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