Right to Perform Obligations. If Customer shall fail to do any act or thing which it has covenanted to do under this Loan Agreement or any representation or warranty on the part of Customer contained In this Loan Agreement shall be breached, MLBFS may, in its sole discretion, after 5 days written notice Is sent to Customer, do the same or cause it to be done or remedy any such breach, and may expend its funds for such purpose. Any and all reasonable amounts so expended by MLBFS shall be repayable to MLBFS by Customer upon demand, with interest at the Interest Rate during the period from and including the date funds are so expended by MLBFS to the date of repayment, and all such amounts shall be additional Obligations.
Appears in 1 contract
Sources: Loan and Security Agreement (Data Conversion Laboratory)
Right to Perform Obligations. If Customer shall fail to do any act or thing which it has covenanted to do under this Loan Agreement or any representation or warranty on the part of Customer contained In in this Loan Agreement shall be breached, MLBFS may, in its sole discretion, after 5 days Business Days written notice Is is sent to Customer, do the same or cause it to be done or remedy any such breach, and may expend its funds for such purpose. Any and all reasonable amounts so expended by MLBFS shall be repayable to MLBFS by Customer upon demand, with interest at the Interest Rate during the period from and including the date funds are so expended by MLBFS to the date of repayment, and all such amounts shall be additional Obligations.
Appears in 1 contract
Sources: Term Wcma Loan and Security Agreement (Barbeques Galore LTD)
Right to Perform Obligations. If Customer shall fail to do any act or thing which it has covenanted to do under this Loan Agreement or any representation or warranty on the part of Customer contained In in this Loan Agreement shall be breached, MLBFS may, in its sole discretion, after 5 days written notice Is is sent to Customer, do the same or cause it to be done or remedy any such breach, and may expend its funds for such purpose. Any and all reasonable amounts so expended by MLBFS shall be repayable to MLBFS by Customer upon demand, with interest at the Interest Rate during the period from and including the date funds are so expended by MLBFS to the date of repayment, and all such amounts shall be additional Obligations.
Appears in 1 contract
Sources: Term Wcma Loan and Security Agreement (Barbeques Galore LTD)