Expenses Incurred by Collateral Agent. In the Collateral Agent’s discretion, the Collateral Agent may discharge taxes and other encumbrances at any time levied or placed on any of the Collateral, maintain any of the Collateral, make repairs thereto and pay any necessary filing fees or insurance premiums, in each case if any Grantor fails to do so. Each Grantor agrees to reimburse the Collateral Agent on demand for all expenditures so made. The Collateral Agent shall have no obligation to any Grantor to make any such expenditures, nor shall the making thereof be construed as a waiver or cure of any Default or Event of Default.
Appears in 3 contracts
Sources: Security Agreement (Kaman Corp), Security Agreement (National Investment Managers Inc.), Security Agreement (Kaman Corp)