Common use of Protection of Assets Clause in Contracts

Protection of Assets. The Agent may in its discretion from time to time, discharge any tax that is due or Encumbrance on any of the Collateral, or take any other action which the Agent may deem necessary or desirable to repair, insure, maintain, preserve, collect, or realize upon any of the Collateral if the Borrower has failed to do so after written notice. The Agent shall not have any obligation to undertake any of the foregoing and shall have no liability on account of any action so undertaken except where there is a specific finding in a judicial proceeding (in which the Agent has had an opportunity to be heard), from which finding no further appeal is available, that the Agent had acted in actual bad faith or in a grossly negligent manner. The Borrower shall pay to the Agent, on demand, or the Agent, in its discretion, may add to the Loan Account, all amounts paid or incurred by the Agent pursuant to this Section 4.22. The obligation of the Borrower to pay such amounts is a Liability.

Protection of Assets. The Agent may Agent, in its discretion the Agent's discretion, and following written notice to the Lead Borrower, and from time to time, may discharge any tax that is due or Encumbrance on any of the Collateral, or take any other action which the Agent may deem necessary or desirable to repair, insure, maintain, preserve, collect, or realize upon any of the Collateral if the Borrower has failed to do so after written noticeCollateral. The Agent shall not have any obligation to undertake any of the foregoing and shall have no liability on account of any action so undertaken except where there is a specific finding in a judicial proceeding (in which the Agent has had an opportunity to be heard), from which finding no further appeal is available, that the Agent had acted in actual bad faith or in a grossly negligent manner. The Borrower Borrowers shall pay to the Agent, on demand, or the Agent, in its discretion, may add to the Loan Account, all amounts paid or incurred by the Agent pursuant to this Section 4.22. The obligation of the Borrower to pay such amounts is a Liabilitysection 4:4-22.

Protection of Assets. The Agent Agent, in the Agent's discretion, at any time after the occurrence of any Event of Default, may in its discretion from time to time, discharge any tax that is due or Encumbrance on any of the Collateral, or take any other action which that the Agent may deem necessary or desirable to repair, insure, maintain, preserve, collect, or realize upon any of the Collateral if the Borrower has failed to do so after written noticeCollateral. The Agent shall not have any obligation to undertake any of the foregoing and shall have no liability on account of any action so undertaken except where there is a specific finding in a judicial proceeding (in which the Agent has had an opportunity to be heard), from which finding no further appeal is available, that the Agent had acted in actual bad faith or in a grossly negligent manner. The Borrower Borrowers shall pay to the Agent, on demand, or the Agent, in its discretion, may add to the Loan Account, all amounts paid or incurred by the Agent pursuant to this Section 4.22section. The obligation of the Borrower Borrowers to pay such amounts is a Liability.

Protection of Assets. The Agent Agent, in the Agent's discretion if an Event of Default has occurred and is continuing, may in its discretion from time to time, discharge any tax that is due or Encumbrance on any of the Collateral, or take any other action which the Agent reasonably may deem necessary or desirable to repair, insure, maintain, preserve, collect, or realize upon any of the Collateral if the Borrower has failed to do so after written noticeCollateral. The Agent shall not have any obligation to undertake any of the foregoing and shall have no liability on account of any action so undertaken except where there is a specific finding in a judicial proceeding (in which the Agent has had an opportunity to be heard), from which finding no further appeal is available, that the Agent had acted in actual bad faith or in a grossly negligent manner. The Borrower Borrowers shall pay to the Agent, on demand, or the Agent, in its discretion, may add to the Loan Account, all amounts paid or incurred by the Agent pursuant to this Section 4.22. The obligation of the Borrower to pay such amounts is a Liabilitysection 4:4-22.

Protection of Assets. The Administrative Agent may in its discretion discretion, and upon the instruction of the Collateral Agent, shall from time to time, discharge any tax that is due or Encumbrance on any of the Collateral, or take any other action which the such Agent may deem necessary or desirable to repair, insure, maintain, preserve, collect, or realize upon any of the Collateral if the Borrower has failed to do so after written noticeCollateral. The Agent Agents shall not have any obligation to undertake any of the foregoing and shall have no liability on account of any action so undertaken except where there is a specific finding in a judicial proceeding (in which the that Agent has had an opportunity to be heard), from which finding no further appeal is available, that the such Agent had acted in actual bad faith or in a grossly negligent manner. The Borrower Borrowers shall pay to the Administrative Agent, on demand, or the Administrative Agent, in its discretion, may add to the Loan Account, all amounts paid or incurred by the Administrative Agent pursuant to this Section 4.22. The obligation of the Borrower Borrowers to pay such amounts is a Liability.

Protection of Assets. The Agent may Agent, in its discretion the Agent's discretion, and from time to time, if an Event of Default has occurred and is continuing, may discharge any tax that is due or Encumbrance on any of the Collateral, or take any other action which the Agent reasonably may deem necessary or desirable to repair, insure, maintain, preserve, collect, or realize upon any of the Collateral if the Borrower has failed to do so after written noticeCollateral. The Agent shall not have any obligation to undertake any of the foregoing and shall have no liability on account of any action so undertaken except where there is a specific finding in a judicial proceeding (in which the Agent has had an opportunity to be heard), from which finding no further appeal is available, that the Agent had acted in actual bad faith or in a grossly negligent manner. The Borrower Borrowers shall pay to the Agent, on demand, or the Agent, in its discretion, may add to the Loan Account, all amounts paid or incurred by the Agent pursuant to this Section 4.22. The obligation of the Borrower to pay such amounts is a Liabilitysection 4:4-22.

Protection of Assets. The Agent may Agent, in its discretion the Agent's discretion, and from time to timetime following and during the continuance of an Event of Default, may discharge any tax that is due or Encumbrance on any of the Collateral, or take any other action which that the Agent may deem necessary or desirable to repair, insure, maintain, preserve, collect, or realize upon any of the Collateral if the Borrower has failed to do so after written noticeCollateral. The Agent shall not have any obligation to undertake any of the foregoing and shall have no liability on account of any action so undertaken except where there is a specific finding in a judicial proceeding (in which the Agent has had an opportunity to be heard), from which finding no further appeal is available, that the Agent had acted in actual bad faith or in a grossly negligent manner. The Borrower Obligors shall pay to the Agent, on demand, or the Agent, in its discretion, may add to the Loan Account, all amounts paid or incurred by the Agent pursuant to this Section 4.22section. The obligation of the Borrower Obligors to pay such amounts is a Liability.

Protection of Assets. The Agent may Agent, in its discretion the Agent's discretion, with prior written notice to the Borrower, and from time to time, may discharge any tax that is due or Encumbrance on any of the Collateral, or take any other action which that the Agent may deem necessary or desirable to repair, insure, maintain, preserve, collect, or realize upon any of the Collateral if the Borrower has failed to do so after written noticeCollateral. The Agent shall not have any obligation to undertake any of the foregoing and shall have no liability on account of any action so undertaken except where there is a specific finding in a judicial proceeding (in which the Agent has had an opportunity to be heard), from which finding no further appeal is available, that the Agent had acted in actual bad faith or in a grossly negligent manner. The Borrower shall pay to the Agent, on demand, or the Agent, in its discretion, may add to the Loan Account, all amounts paid or incurred by the Agent Lender pursuant to this Section 4.22section. The obligation of the Borrower to pay such amounts is a Liability.

Protection of Assets. The Agent may Agent, in its discretion the Agent's discretion, and from time to time, may discharge any tax that is due or Encumbrance on any of the Collateral, or take any other action which that the Agent may deem necessary or desirable to repair, insure, maintain, preserve, collect, or realize upon any of the Collateral if the Borrower has failed fails to do so after written noticeso. The Agent shall not have any obligation to undertake any of the foregoing and shall have no liability on account of any action so undertaken except where there is a specific finding in a judicial proceeding (in which the Agent has had an opportunity to be heard), from which finding no further appeal is available, that the Agent had acted in actual bad faith or in a grossly negligent manner. The Borrower shall pay to the Agent, on demand, or the Agent, in its discretion, may add to the Loan Account, all amounts paid or incurred by the Agent pursuant to this Section 4.22section. The obligation of the Borrower to pay such amounts is a Liability.