Payment and Performance of the Obligations Sample Clauses

The 'Payment and Performance of the Obligations' clause establishes the requirement for each party to fulfill their financial and non-financial commitments as outlined in the agreement. This typically includes making payments by specified deadlines and performing agreed-upon services or delivering goods according to the contract's terms. By clearly defining these responsibilities, the clause ensures that both parties understand their duties, thereby reducing the risk of disputes and promoting smooth execution of the contract.
Payment and Performance of the Obligations. Mortgagor will pay all amounts payable under the Obligations in accordance with the terms of the Obligations when and as due and will timely perform all other obligations of Mortgagor under the Obligations. The provisions of the Obligations are hereby incorporated by reference into this Mortgage as if fully set forth herein.
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Payment and Performance of the Obligations. Mortgagor will pay and perform the Obligations at the time and in the manner provided in the Credit Agreement, this Security Agreement and the other Secured Note Documents, as applicable.
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Payment and Performance of the Obligations. (a) In order to secure payment of the Note by Borrower and performance of Borrower's obligation thereunder and under the Mortgage, Guarantor hereby irrevocably and unconditionally guarantees to Bank, and becomes surety to Bank for, the due and punctual payment and performance of all the obligations of Borrower to Bank, whether primary, secondary, direct, contingent, sole, joint, several or joint and several, including without limitation the payment of principal and any interest accruing thereon, now existing or hereafter at any time or times incurred, under the Note or the Mortgage or under any of the Loan Documents (which term is used herein as defined in the Note) or under any renewals, extensions or modifications thereof (hereinafter referred to individually as "Obligation" and collectively as "Obligation"). During the Construction Period (which term is used herein as defined in the Note), Bank shall have full, complete and unlimited recourse against any and all assets of Guarantor for repayment of Obligations. Beginning on the first day of the month immediately following the month in which the Construction Period ends, notwithstanding anything to the contrary contained herein, Bank shall have recourse against any and all assets of Guarantor only for repayment of Obligations up to the amount by which the outstanding principal amount of the Loan (together with all accrued but unpaid interest thereon, and all unpaid fees, premiums and penalties with respect thereto) exceeds 50 % of the value of the Property as determined by an appraisal acceptable to Bank (the "Full Recourse Portion"). Bank shall have recourse only against Guarantor's partnership interests in Borrower for repayment of the balance of the Obligations (the "Limited Recourse Portion"). If any Obligation is not paid or performed by Borrower punctually when due, subject to any applicable grace period, including without limitation any Obligation due by acceleration of the maturity thereof following the occurrence of an Event of Default (as defined in the Mortgage), Guarantor will, upon Bank's demand, immediately pay or perform such Obligation or cause the same to be paid or performed strictly in accordance with the terms thereof. Bank may cause judgment to be entered against Guarantor for the full amount of the Obligations, which judgment shall reflect the limitations on recourse set forth above. Guarantor will pay to Bank, upon demand, and Bank shall have recourse against any and all of Guarant...
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Payment and Performance of the Obligations. In order to secure payment and performance by Borrower of its obligations under the Reimbursement Agreement, Guarantor hereby irrevocably and unconditionally guarantees to Bank, and become surety to Bank for, the due and punctual payment and performance of the principal and any interest accruing thereon owed by Borrower to Bank under the Reimbursement Agreement (hereinafter referred to individually as “Obligation” and collectively as “Obligations”); plus all interest accrued thereon pursuant to the Reimbursement Agreement, plus all reasonable costs and expenses, including without limitation reasonable counsel fees, which may be incurred by Bank in collection or enforcement of the Obligations under this Guaranty. If any Obligation is not paid or performed by Borrower punctually when due, subject to any applicable notice and grace period, Guarantor will, upon Bank’s written demand, immediately pay or perform such Obligation or cause the same to be paid or performed strictly in accordance with the terms thereof. Guarantor will pay to Bank, upon written demand, all reasonable costs and expenses, including without limitation reasonable counsel fees, which are incurred by Bank in the collection or enforcement of Guarantor’s obligations under this Agreement. No reference hereinafter or in any other document to Obligations or to Borrower’s performance or to this Guaranty or to Guarantor shall change the nature or limits of this Guaranty as defined in this Section 1.
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Payment and Performance of the Obligations. Mortgagor will pay all amounts payable under the Obligations in accordance with the terms of the Obligations when and as due and will timely perform all other obligations of Mortgagor under the Obligations. The provisions of the Obligations are hereby incorporated by reference into this Mortgage as if fully set forth herein. Acceptance by Mortgagee of any payment in an amount less than the amount then due shall be deemed an acceptance on account only, and the failure to pay the entire amount then due shall be and continue to be an Event of Default.
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Payment and Performance of the Obligations. In order to secure payment of the Subordinated Notes and performance of the Securities Purchase Agreement by Borrower, each Guarantor hereby irrevocably and unconditionally guarantees to Purchasers the due and punctual payment and performance of all the obligations of Borrower to Purchasers arising out of or provided for in the Subordinated Notes and the Securities Purchase Agreement or under any renewals, extensions or modifications thereof, whether primary, secondary, direct, contingent, sole, joint, several or joint and several, including without limitation the payment of principal and any interest accruing thereon, now existing or hereafter at any time or times incurred (hereinafter referred to individually as an "Obligation," and collectively, as "Obligations"). If any Obligation is not paid or performed by Borrower punctually when due, subject to any applicable grace period, including without limitation any Obligation due by acceleration of the maturity thereof, each Guarantor will, upon demand by any Purchaser, immediately pay or perform such Obligation or cause the same to be paid or performed strictly in accordance with the terms thereof (including amounts that would become due but for any stay, injunction or other prohibition preventing such payment or performance in respect of the Ob1igations guaranteed hereby). Each Guarantor will pay to Purchasers, upon demand, all costs and expenses, including without limitation, reasonable counsel fees which may be incurred by any Purchaser in the collection or enforcement of the Obligations or of any Guarantor's obligations under this Guaranty. The liability of each Guarantor under this Guaranty shall not exceed the Maximum Guaranty Amount (as defined in Exhibit A hereto) determined as of the Ending Date (as defined in Exhibit A hereto).
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Related to Payment and Performance of the Obligations

  • Payment and Performance of Obligations Pay and perform all material Obligations under this Agreement and the other Loan Documents, and pay or perform (a) all taxes, assessments and other governmental charges that may be levied or assessed upon it or any of its property, and (b) all other indebtedness, obligations and liabilities in accordance with customary trade practices; except to the extent that IPT or the Borrower is contesting any item described in clauses (a) or (b) of this Section 7.5 in good faith and is maintaining adequate reserves with respect thereto in accordance with GAAP.

  • Payment and Performance The Borrower will pay all amounts due under the Loan Documents in accordance with the terms thereof and will observe, perform and comply with every covenant, term and condition expressed or implied in the Loan Documents. The Borrower will cause each other Loan Party to observe, perform and comply with every such term, covenant and condition in any Loan Document.

  • Payment and Performance Bond Prior to the execution of this Contract, City may require Contractor to post a payment and performance bond (Bond). The Bond shall guarantee Contractor’s faithful performance of this Contract and assure payment to contractors, subcontractors, and to persons furnishing goods and/or services under this Contract.

  • Guaranty of Payment and Performance Guarantor’s obligations under this Guaranty constitute an unconditional guaranty of payment and performance and not merely a guaranty of collection.

  • Payment and Performance Bonds A payment bond and performance is required for a public works contract involving expenditure in excess of twenty-five thousand dollars ($25,000) and no work can be commenced prior to both bonds being approved the County. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for $60,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of $60,000, guaranteeing the faithful performance of the Contract. If at any time the value of the total task orders is expected to exceed $60,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be approved by the office of the County Counsel and the County Executive Office of Orange County. Such bonds shall be the forms provided in these specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or ▇▇▇▇▇▇.▇▇▇. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by OC Public Works, the Contractor shall promptly furnish such additional security as may be required by OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.