Additional Advances and Disbursements Sample Clauses
The "Additional Advances and Disbursements" clause defines the lender's ability to provide further funds to the borrower beyond the initial loan amount. This clause typically outlines the conditions under which extra advances can be requested, such as meeting certain financial covenants or providing updated documentation, and may specify limits or procedures for such disbursements. Its core function is to offer flexibility in financing, allowing borrowers to access additional capital as needed while ensuring the lender retains control over the process and risk exposure.
Additional Advances and Disbursements. Grantor agrees that, if an Event of Default shall have occurred and be continuing, then Beneficiary shall have the right without notice to Grantor to advance all or any part of amounts owing or to perform any or all required actions not paid or performed by Grantor (it being understood that Beneficiary shall have no duty or be under any obligation to make any advances or disbursements of any nature under or in respect of this Mortgage unless (i) Beneficiary shall have been requested or directed in writing to make such advance or disbursement by the Holders of not less than 25% of the aggregate principal amount of the Notes at the time outstanding voting as a single class, and (ii) such Holders shall have either (x) advanced or disbursed the funds to Beneficiary to make such advance or disbursement, or (y) indemnified Beneficiary to Beneficiary’s satisfaction in respect of such advance or disbursement. No such advance or performance shall be deemed to have cured such default. All sums advanced and all expenses incurred by Beneficiary in connection with such advances or actions, and all other sums advanced or expenses incurred by Beneficiary hereunder or under applicable law (whether required or optional and whether indemnified hereunder or not) shall, subject to Section 2.01, be part of the Note Obligations, shall bear interest at the Default Rate from the date advanced by Beneficiary to and including the date paid by Grantor and shall be secured by this Deed of Trust. Grantor hereby appoints Beneficiary its true and lawful attorney-in-fact to make the payments and effect the performance contemplated by the aforesaid provisions in the name and on behalf of Grantor. This appointment, being coupled with an interest, shall be irrevocable until all of the Note Obligations shall be fully satisfied, paid and performed and Beneficiary shall have no further Note Obligations.
Additional Advances and Disbursements. Mortgagor shall pay when due all payments and charges on all deeds of trust, security agreements, Liens, encumbrances, ground and other leases, and security interests which may be or become superior or inferior to the lien of this Mortgage, provided that Mortgagor shall have the right to pursue a Good Faith Contest thereof, and in default thereof continuing after the expiration of any and all applicable grace and/or cure periods (subject to any such Good Faith Contest), Mortgagee shall have the right, but shall not be obligated, to pay, without notice to Mortgagor, such payments and charges, and Mortgagor shall reimburse Mortgagee for amounts so paid within ten (10) days after written demand therefor. In addition, upon default of Mortgagor continuing after the expiration of any and all applicable grace and/or cure periods, in the performance of any other terms, covenants, conditions, or obligations by it to be performed under any such prior or subordinate lien, encumbrance, lease, or security interest, provided that there is no ongoing Good Faith Contest thereof, Mortgagee shall have the right, but shall not be obligated, to cure such default in the name and on behalf of Mortgagor. All sums advanced and expenses incurred at any time by Mortgagee pursuant to this Section 5.8 or as otherwise provided under the terms and provisions of this Mortgage or under applicable law shall bear interest from the date that such sum is advanced or expense incurred, to and including the date of reimbursement, computed at the default interest rate set forth in the Credit Agreement.
Additional Advances and Disbursements. Trustor agrees that if an Event of Default occurs hereunder and is continuing then Trustee and/or Beneficiary shall have the right, but not the obligation, in Trustor's name or in its or their own name, and without notice to Trustor to exercise any and all rights and remedies of the landlord under the Master Lease, and, for such purpose, Trustor expressly grants to Trustee and Beneficiary, in addition and without prejudice to any other rights and remedies hereunder, the right to enter upon and take possession of the Premises in accordance with applicable law to such extent and as often as either of them may deem necessary or desirable. Except as otherwise provided by law, no such exercise shall be deemed to have cured such Event of Default with respect thereto. All sums advanced and all expenses incurred by Trustee and/or Beneficiary in connection with such exercise, and all other sums advanced or expenses incurred by Beneficiary hereunder or under applicable law (whether required or optional and whether indemnified hereunder or not) shall be part of the Obligations, shall bear interest at the Default Rate (as defined in Section 2.19 of the Master ------------ Lease) from the date of disbursement until paid and shall be secured by this Deed of Trust. Trustee and/or Beneficiary, upon making any such advance, shall be subrogated to all of the rights of the person receiving such advance.
Additional Advances and Disbursements. If any Event of Default exists, Mortgagee and each of the Lenders shall have the right, but not the obligation, to cure such Event of Default in the name and on behalf of Mortgagor in accordance with the Credit Agreement.
Additional Advances and Disbursements. Except as provided in Section 4.16 hereof, the Mortgagor shall pay when due all payments and charges on all liens, encumbrances, ground and other leases, and security interests which may be or become superior, equal or inferior to the lien of this Mortgage, and upon an Event of Default with respect to this obligation, the Mortgagee shall have the right, but shall not be obligated, to pay, with notice to the Mortgagor, such payments and charges, and the Mortgagor shall, on demand, reimburse the Mortgagee for amounts so paid. In addition, upon an Event of Default with respect to this obligation, the Mortgagee shall have the right, but shall not be obligated, to cure such default in the name and on behalf of the Mortgagor. All sums advanced and reasonable expenses incurred at any time by the Mortgagee pursuant to this Section 1.10 or as otherwise provided under the terms and provisions of this Mortgage or under applicable law shall bear interest from the date that such sum is advanced or expense incurred, to and including the date of reimbursement, computed at the Default Rate, as defined in the Note.
Additional Advances and Disbursements. (a) Mortgagor agrees that if an Event of Default occurs hereunder, then Mortgagee shall have the right without notice to Mortgagor to advance all or any part of amounts owing or to perform any or all required actions. No such advance or performance shall be deemed to have cured such default by Mortgagor or any Event of Default with respect thereto. All sums advanced and all expenses incurred by Mortgagee in connection with such advances or actions, and all other sums advanced or expenses incurred by Mortgagee hereunder or under applicable law (whether required or optional and whether indemnified hereunder or not) shall be part of the Obligations, shall bear interest at the rate and as provided in the Credit Agreement and shall be secured by this Mortgage.
(b) This Mortgage secures not only existing indebtedness, but also future or additional protective advances made in each case pursuant hereto or to the Credit Agreement, the Permitted ▇▇▇▇▇▇, if any, whether such advances are obligatory or optional.
Additional Advances and Disbursements. Grantor shall pay when due all payments and charges on all deeds of trust, security agreements, Liens, encumbrances, ground and other leases, and security interests which may be or become superior or inferior to the Lien of this Deed of Trust; provided, that the obligations under this Section 5.7 shall be treated as “material obligations” for purposes of applying any relevant exceptions, contest rights and grace periods set forth in Section 5.3 of the Credit Agreement (and this Section 5.7 shall be subject to such exceptions, contest rights and grace periods).
Additional Advances and Disbursements. The Loan Parties agree that, upon the occurrence of a Default or Event of Default, the Administrative Agent shall have the right, but not the obligation, in its own name acting for the account of the Loan Parties, and upon two (2) Business Days' prior written notice to the Borrowers, on behalf of the Loan Parties, to advance all or any part of amounts owing or to perform any or all required actions to prevent or remedy any such Default or Event of Default. No such advance or performance shall be deemed to have cured such Default or Event of Default. All sums advanced and all expenses incurred by the Administrative Agent in connection with such advances or actions, and all other sums advanced or expenses incurred by Administrative Agent hereunder, under any other Facility Document or under applicable law (whether required or optional and whether indemnified hereunder or thereunder or not) shall be part of the obligations of the Loan Parties to the Administrative Agent and the Lenders and shall bear interest at the Default Rate. Upon making any such advance, the Administrative Agent making such advance shall be subrogated to all of the rights of the Person receiving such advance.
Additional Advances and Disbursements. (a) Grantor agrees that, upon the occurrence of an Event of Default, Trustee or Beneficiary shall have the right without notice to Grantor to advance all or any part of amounts owing or to perform any or all required actions. No such advance or performance shall be deemed to have cured such Default by Grantor or any Event of Default with respect thereto. All sums advanced and all expenses incurred by Trustee or Beneficiary in connection with such advances or actions, and all other sums advanced or expenses incurred by Trustee or Beneficiary hereunder or under applicable law (whether required or optional and whether indemnified hereunder or not) shall be part of the Obligations, shall bear interest at the Default Rate and as provided in the Credit Agreement and shall be secured by this Deed of Trust.
Additional Advances and Disbursements. 13 SECTION 3.02.