Common use of Preserve Collateral Clause in Contracts

Preserve Collateral. In the event any claim is asserted in respect of any Collateral (other than Permitted Liens) or Administrative Agent’s Lien on such Collateral, the applicable Company shall appear in and defend any such action or proceeding at Borrowers’ reasonable expense. In the event of any Default by any Company or any other party under or in connection with any material portion of the Collateral, the Companies will immediately use commercially reasonable efforts to remedy the same or immediately demand that the same be remedied.

Preserve Collateral. In the event any claim is asserted in respect of any Collateral (other than Permitted Liens) or Administrative AgentLender’s Lien on such Collateral, the applicable Company shall appear in and defend any such action or proceeding at Borrowers’ Borrower’s reasonable expense. In the event of any Default default by any Company or any other party under or in connection with any material portion (individually or collectively) of the Collateral, the Companies will immediately use commercially reasonable efforts to remedy the same or immediately demand that the same be remedied.