Common use of Discharge Encumbrances Clause in Contracts

Discharge Encumbrances. The Collateral Agent may, at its option, discharge any taxes, liens, security interests or other encumbrances at any time levied or placed on the Collateral. Debtor agrees to reimburse the Collateral Agent upon demand for any payment so made, plus interest thereon from the date of the Collateral Agent's demand at the Highest Lawful Rate.

Discharge Encumbrances. The Collateral Agent may, at its option, discharge any taxes, liens, security interests or other encumbrances at any time levied or placed on the Collateral. Debtor Pledgor agrees to reimburse the Collateral Agent upon demand for any payment so made, plus interest thereon from the date of the Collateral Agent's demand at the Highest Lawful Rate.