Advances by Lender Clause Samples
The "Advances by Lender" clause defines the lender's authority to provide funds to the borrower under the terms of the agreement. Typically, this clause outlines the conditions under which the lender may advance money, such as upon the borrower's request or when certain criteria are met, and may specify limits, procedures, or documentation required for each advance. Its core function is to establish a clear framework for disbursing loan funds, ensuring both parties understand when and how advances can be made, thereby reducing the risk of disputes and ensuring smooth operation of the lending arrangement.
Advances by Lender. At any time and from time to time, Lender may incur and/or pay and/or advance costs or expenses: [i] which Lender is authorized or has the right (but not necessarily the obligation) to incur or may incur under any Loan Document or any law; [ii] in exercising any right or remedy provided under any Loan Document or in taking any action which Lender is authorized to take under any Loan Document; [iii] which are required to be paid by Borrower under any Loan Document, but which Borrower fails to pay upon demand; or [iv] from which Borrower is required to hold Lender harmless under any Loan Document, but from which Borrower fails to hold Lender harmless. Any costs, expenses, or advances incurred or paid by Lender shall become part of the Loan and, upon demand, shall be paid to Lender together with interest thereon at the Default Rate from the date of disbursement by Lender. Payment of such costs, expenses, or advances shall be secured by the Mortgage.
Advances by Lender. At any time and from time to time during the term of this Mortgage, Lender may incur and/or pay and/or advance costs or expenses [i] incurred or advanced by Lender which Lender is authorized or has the right (but not necessarily the obligation) to incur or may incur under any term of any Loan Document or any law; [ii] of whatever nature incurred or advanced by Lender in exercising any right or remedy provided by any term of any Loan Document or in taking any action which Lender is authorized to take by any term of any Loan Document; [iii] required to be paid by Tenant by any term of any Loan Document, but which Tenant fails to pay upon demand; or [iv] any and all costs and expenses from which Tenant is required to hold Lender harmless by any term of any Loan Document, but from which Tenant fails to hold Lender harmless. Any reasonable costs, expenses, or advances incurred or paid by Lender shall become part of the Loan and, upon demand, shall be paid to Lender together with interest thereon at the default rate specified in the Note from the date of disbursement by Lender. Payment of such costs, expenses, or advances shall be secured by this Mortgage.
Advances by Lender. On failure of any Pledgor to perform any of the covenants and agreements contained herein, Lender may, at its sole option and in its sole discretion, perform the same and in so doing may expend such sums as Lender may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any taxes, a payment to obtain a release of a Lien or potential Lien, expenditures made in defending against any adverse claim and all other expenditures which Lender may make for the protection of the security hereof or which Lender may be compelled to make by operation of law. All such sums and amounts so expended shall be repayable by the Pledgors on a joint and several basis promptly upon notice thereof and demand therefor, shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at the default rate provided for in Section 2.3 of the Note. No such performance of any covenant or agreement by Lender on behalf of any Pledgor, and no such advance or expenditure therefor, shall relieve the Pledgors of any default under the terms of this Pledge Agreement or the other Loan Documents. Lender may make any payment hereby authorized in accordance with any bill, ▇▇atement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such bill, ▇▇atement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by a Pledgor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.
Advances by Lender. If Debtor shall fail to comply with any of the provisions of this Security Agreement, Lender may (but shall not be required to) make advances to perform the same, and where necessary enter any premises where any Collateral is located for the purpose of performing Debtor’s obligations under any such provision. Debtor agrees to repay all such sums advanced upon demand, with interest from the date such advances are made at the default rate of interest provided for in Section 3.1 of the Credit Agreement, and all sums so advanced with interest shall be a part of the Outstanding Obligations. The making of any such advances shall not be construed as a waiver by Lender of any Event of Default resulting from Debtor’s failure to pay such amounts.
Advances by Lender. On failure of any Pledgor to perform any of the covenants and agreements contained herein, the Lender may, at its sole option and in its reasonable discretion, perform the same and in so doing may expend such sums as the Lender may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien or potential Lien, expenditures made in defending against any adverse claim and all other expenditures which the Lender may make for the protection of the security hereof or which may be compelled to make by operation of law. All such sums and amounts so expended shall be repayable by the Pledgors on a joint and several basis promptly upon timely notice thereof and demand therefor, shall constitute additional Pledgor Obligations and shall bear interest from the date said amounts are expended at the default rate specified in Section 3.01 of the Revolving Credit Agreement. No such performance of any covenant or agreement by the Lender on behalf of any Pledgor, and no such advance or expenditure therefor, shall relieve the Pledgors of any default under the terms of this Pledge Agreement or the other Amended Credit Documents. The Lender may make any payment hereby authorized in accordance with any bill, ▇▇atement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such bill, ▇▇atement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by a Pledgor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.
Advances by Lender. Advances of principal, repayment, and readvances may be made under this Agreement from time to time, but Lender, in its sole discretion and subject to provisions related to obligatory and discretionary advances, may refuse to make advances or readvances hereunder during any period(s) this Agreement is in default. All advances made will be charged to a loan account in Borrower’s name on Lender’s books, and the Lender shall debit such account for the amount of each advance made to, and credit to such account the amount of each repayment made by Borrower. If the Lender furnishes the Borrower with a statement of Borrower’s loan account, such statement shall be deemed to be correct, accepted by, and binding upon Borrower, unless Lender receives a written statement exception from Borrower within 10 days after such statement has been furnished.
Advances by Lender. Lender may make advances to perform any of the covenants contained in this Mortgage on Borrower's behalf and all sums so advanced (and all sums advanced pursuant to any other provision hereof) by Lender shall be secured hereby. Borrower shall repay on demand all sums so advanced with interest thereon at the Default Rate, such interest to be computed from and including the date of the making of such advance to and including the date of such repayment, and at Lender's election, Lender may add the amount of such advance to the principal balance of the Loan.
Advances by Lender. Lender may at Lender's op▇▇▇▇, advance money that should have been paid by Borrower in order to protect the ▇▇▇▇ ▇▇ security of this Mortgage. Borrower shall repay such monies immediately upon notice from Lender to Borrower requesting payment thereof and such funds advanced by Lender shall bear interest at the maximum rate allowed by law and shall be considered additional indebtedness of Borrower secured by this Mortgage. In no event shall such advances by Lender be deemed a waiver of Lend▇▇'▇ ▇ight to declare this Mo▇▇▇▇▇▇ in default.
Advances by Lender. Subject to the following sentence, Lender may make Advances in payment of insurance premiums, taxes, assessments, liens or encumbrances existing against property encumbered by the Security Documents, interest accrued and payable upon any Loan, and any charges and expenses that are the obligation of Borrower under this Agreement or any of the other Loan Documents to the extent necessary to preserve the Collateral or to cure any Event of Default. Lender shall have the right to act in accordance with the preceding sentence (i) at any time after an Event of Default; (ii) at any time before an Event of Default if Borrower has failed to make any necessary payment in a timely manner; and (iii) at any time if Lender reasonably believes that prompt action on Lender's part is necessary or appropriate to ensure payment of the amount in question, protection of the Collateral or protection of any right of Lender under the Loan Documents.
Advances by Lender. Any funds of Lender used for any purpose referred to in this article shall constitute advances under the Loan and shall bear interest at the variable rate specified in the Note.