Performance on Borrower's Behalf. If any Obligated Person fails to pay any taxes, insurance premiums or other amounts required to be paid under any Loan Documents, the Bank may pay the same and shall be entitled to immediate reimbursement by Borrower therefor, and each amount paid shall constitute a part of Borrower's indebtedness to the Bank, shall be secured by the Collateral Documents and shall bear interest from the date such amount is paid by the Bank until the date such amount is repaid to the Bank at the Base Rate plus four percentage points per annum.
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Sources: Credit Agreement (St Mary Land & Exploration Co), Credit Agreement (St Mary Land & Exploration Co)
Performance on Borrower's Behalf. If any Obligated Person fails to pay any taxes, insurance premiums or other amounts required to be paid under any Loan Documents, the Bank may pay the same and shall be entitled to immediate reimbursement by Borrower therefor, and each amount paid shall constitute a part of Borrower's indebtedness to the Bank, shall be secured by the by.the Collateral Documents and shall bear interest from the date such amount is paid by the Bank until the date such amount is repaid to the Bank at the Base Prime Rate plus four percentage points per annum.
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