Common use of Performance by the Administrative Agent Clause in Contracts

Performance by the Administrative Agent. If either Borrower or any of the Guarantors shall fail to perform any covenant, duty or agreement contained in any of the Loan Documents, the Administrative Agent may perform or attempt to perform such covenant, duty or agreement on behalf of such Person after the expiration of any cure or grace periods set forth herein if and to the extent the Administrative Agent considers in its discretion that such performance is necessary or advisable in order to protect or preserve the Collateral or in order to protect against a potential Material Adverse Effect. In such event, such Person shall, at the request of the Administrative Agent, promptly pay any amount expended by the Administrative Agent in such performance or attempted performance to the Administrative Agent, together with interest thereon at the applicable Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, the Administrative Agent shall not have any liability or responsibility whatsoever for the performance of any obligation of such Person under this Credit Agreement or any other Loan Document in the absence of its gross negligence or willful misconduct. All amounts expended by the Administrative Agent pursuant to this Section shall constitute Obligations secured by the Collateral.

Performance by the Administrative Agent. If either Should the Borrower or any of the Guarantors shall fail to perform any covenant, duty duty, or agreement contained herein or in any of the Loan Documents, as applicable, and such failure continues beyond any applicable cure period, the Administrative Agent may may, but shall not be obligated to, perform or attempt to perform such covenant, duty duty, or agreement on behalf of such Person after the expiration of any cure or grace periods set forth herein if and to the extent the Administrative Agent considers in its discretion that such performance is necessary or advisable in order to protect or preserve the Collateral or in order to protect against a potential Material Adverse EffectPerson. In such event, such Person each Borrower shall, at the request of the Administrative Agent, Agent promptly pay any reasonable amount expended by the Administrative Agent in such performance or attempted performance to the Administrative Agent at the Administrative Agent’s Office, together with interest thereon at the applicable Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, it is expressly understood that neither the Administrative Agent shall not have nor the Lenders assume any liability or responsibility whatsoever for the performance of any obligation duties of such Person under this Credit Agreement any Borrower, or any related Person hereunder or under any of the Loan Documents or other Loan Document in control over the absence management and affairs of its gross negligence any Borrower, or willful misconduct. All amounts expended any related Person, nor by any such action shall the Administrative Agent pursuant or the Lenders be deemed to this Section shall constitute Obligations secured by the Collateralcreate a partnership arrangement with any Borrower or any related Person.

Performance by the Administrative Agent. If either Should the Borrower or any of the Guarantors shall fail to perform any covenant, duty duty, or agreement contained herein or in any of the Loan Documents, as applicable, and such failure continues beyond any applicable cure period, the Administrative Agent may may, but shall not be obligated to, perform or attempt to perform such covenant, duty duty, or agreement on behalf of such Person after the expiration of any cure or grace periods set forth herein if and to the extent the Administrative Agent considers in its discretion that such performance is necessary or advisable in order to protect or preserve the Collateral or in order to protect against a potential Material Adverse EffectPerson. In such event, such Person the Borrower shall, at the request of the Administrative Agent, Agent promptly pay any reasonable amount expended by the Administrative Agent in such performance or attempted performance to the Administrative Agent at the Administrative Agent’s Office, together with interest thereon at the applicable Default Rate from the date of such expenditure until paid. Notwithstanding the foregoing, it is expressly understood that neither the Administrative Agent shall not have nor the Lenders assume any liability or responsibility whatsoever for the performance of any obligation duties of such Person under this Credit Agreement the Borrower, or any related Person hereunder or under any of the Loan Documents or other Loan Document in control over the absence management and affairs of its gross negligence the Borrower, or willful misconduct. All amounts expended any related Person, nor by any such action shall the Administrative Agent pursuant or the Lenders be deemed to this Section shall constitute Obligations secured by create a partnership arrangement with the CollateralBorrower or any related Person.