Common use of PERFORMANCE BY GRANTEE Clause in Contracts

PERFORMANCE BY GRANTEE. If Grantor shall Default in the payment, performance or observance of any term, covenant or condition of this Security Deed, Grantee may, so long as such Default continues, at its option, pay, perform or observe the same, and all payments made or reasonable costs or expenses incurred by Grantee in connection therewith, shall be secured hereby and shall be, upon demand, immediately repaid by Grantor to Grantee with interest thereon at the default rate of interest set forth in Section 4.9 of the Credit Agreement (the "Default Rate"). Grantee shall be the sole judge of the necessity for any such actions and of the reasonable amounts to be paid. Grantee is hereby empowered to enter and to authorize others to enter upon the Land or any part thereof for the purpose of performing or observing any such defaulted term, covenant or condition without thereby becoming liable to Grantor or any person in possession holding under Grantor.

PERFORMANCE BY GRANTEE. If Grantor shall Default in the payment, performance or observance of any term, covenant or condition of this Security DeedDeed to Secure Debt, Grantee may, so long as such Default continues, at its option, pay, perform or observe the same, and all payments made or reasonable costs or expenses incurred by Grantee in connection therewith, therewith shall be secured hereby and shall be, upon without demand, immediately repaid by Grantor to Grantee with interest thereon at the default rate of interest set forth in Section 4.9 of the Credit Agreement (the "Default Rate"); provided, however, any such payments by Grantee shall not release Grantor from Grantor's obligations or constitute a waiver of Grantor's Default hereunder. Grantee shall be the sole judge of the necessity for any such actions and of the reasonable amounts to be paid. Grantee is hereby empowered to enter and to authorize others to enter upon the Land Premises or any part thereof for the purpose of performing or observing any such defaulted term, covenant or condition without thereby hereby becoming liable to Grantor or any person in possession holding under Grantor.