Common use of PERFORMANCE OF DEBTOR'S OBLIGATIONS Clause in Contracts

PERFORMANCE OF DEBTOR'S OBLIGATIONS. Without having any obligation to do so, upon reasonable prior notice to Debtor, Lender may perform or pay any obligation which Debtor has agreed to perform or pay under this Agreement, including, without limitation, the payment or discharge of taxes or Liens levied or placed on or threatened against the Collateral. In so performing or paying, Lender shall determine the action to be taken and the amount necessary to discharge such obligations. Debtor shall reimburse Lender on demand for any amounts paid by Lender pursuant to this Section, which amounts shall constitute Indebtedness secured by the Collateral and shall bear interest from the date of demand at the rate applicable to overdue payments under the Loan Agreement.