Common use of PAYMENT AND PERFORMANCE OF LIABILITIES Clause in Contracts

PAYMENT AND PERFORMANCE OF LIABILITIES. The Borrowers shall, and hereby authorize the Lead Borrower on their behalf to pay each Liability when due (or when demanded if payable on demand) and shall promptly, punctually, and faithfully perform each other Liability.

Appears in 2 contracts

Sources: Loan and Security Agreement (Lechters Inc), Loan and Security Agreement (Lechters Inc)

PAYMENT AND PERFORMANCE OF LIABILITIES. The Borrowers and Guarantors shall, and the Borrowers hereby authorize the Lead Borrower on their behalf to to, pay each Liability when due (or when demanded if payable on demand) and shall promptly, punctually, and faithfully perform each other Liability.

Appears in 1 contract

Sources: Loan and Security Agreement (Lechters Inc)