Best Interests. It is in the best interests of each Grantor (other than the Borrower) to execute this Security Agreement in as much as such Grantor will, as a result of being an Affiliate or Subsidiary of the Borrower, derive substantial direct and indirect benefits from the Loans and other extensions of credit made from time to time to one or both of the Borrower by the Lenders and the Issuing Lender pursuant to the Credit Agreement, and each Grantor agrees that the Secured Parties are relying on this representation in agreeing to make such Loans and other extensions of credit pursuant to the Credit Agreement to the Borrower.
Appears in 3 contracts
Samples: Credit Agreement (Flotek Industries Inc/Cn/), Pledge and Security Agreement (Flotek Industries Inc/Cn/), Pledge and Security Agreement (Flotek Industries Inc/Cn/)
Best Interests. It is in the best interests of each Grantor (other than the BorrowerCompany) to execute this Security Agreement in as much inasmuch as such Grantor will, as a result of being an Affiliate or a Subsidiary of the BorrowerCompany, derive substantial direct and indirect benefits from the Loans and other extensions of credit Credit Extensions made from time to time to one or both of the Borrower Borrowers by the Lenders and the Issuing Lender pursuant to the Credit AgreementAgreement and the execution and delivery of the Secured Treasury Management Agreements and Secured Swap Agreements among the Loan Parties and certain Secured Parties, and each Grantor agrees that the Secured Parties are relying on this representation in agreeing to make such Loans and other extensions of credit Credit Extensions pursuant to the Credit Agreement to the BorrowerBorrowers.
Appears in 3 contracts
Samples: Pledge and Security Agreement (GENTHERM Inc), Pledge and Security Agreement (GENTHERM Inc), Pledge and Security Agreement (GENTHERM Inc)
Best Interests. It is in the best interests of each Grantor (other than the Borrower) to execute this Security Agreement in as much inasmuch as such Grantor will, as a result of being an Affiliate or a Subsidiary of the Borrower, derive substantial direct and indirect benefits from the Loans and other extensions of credit Credit Extensions made from time to time to one or both of the Borrower by the Lenders and the Issuing Lender pursuant to the Credit AgreementAgreement and the execution and delivery of Lender Hedging Agreements and other Loan Documents between the Borrower and certain Secured Parties, and each Grantor agrees that the Secured Parties are relying on this representation in agreeing to make such Loans and other extensions of credit pursuant to the Credit Agreement to the Borrower.
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