Common use of Commodity Exchange Act Keepwell Provisions Clause in Contracts

Commodity Exchange Act Keepwell Provisions. The Borrower hereby guarantees the payment and performance of all Obligations of each Credit Party (other than Borrower) and absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each Credit Party (other than the Borrower) in order for such Credit Party to honor its obligations under its respective Guarantee including obligations in respect of Hedge Agreements (provided, however, that the Borrower shall only be liable under this Section 9.14 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 9.14, or otherwise under this Agreement or any Credit Document, as it relates to such other Credit Parties, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of the Borrower under this Section 9.14 shall remain in full force and effect until all Obligations are Paid in Full (other than Hedging Obligations under Secured Hedge Agreements, Cash Management Obligations under Secured Cash Management Agreements and contingent indemnification obligations, in each case, not then due and payable), and all of the Commitments are terminated. The Borrower intends that this Section 9.14 constitute, and this Section 9.14 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Credit Party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

Appears in 1 contract

Samples: Assignment and Acceptance Agreement (Denbury Resources Inc)

AutoNDA by SimpleDocs

Commodity Exchange Act Keepwell Provisions. The Borrower hereby guarantees the payment and performance of all Obligations Indebtedness of each Credit Party (other than the Borrower) and absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each Credit Party (other than the Borrower) in order for such Credit Party to honor its obligations under its respective Guarantee Guaranty Agreement including obligations in with respect of Hedge to Swap Agreements (provided, however, that the Borrower shall only be liable under this Section 9.14 8.18 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 9.148.18, or otherwise under this Agreement or any Credit Loan Document, as it relates to such other Credit Parties, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of the Borrower under this Section 9.14 8.18 shall remain in full force and effect until all Obligations are Paid Indebtedness is paid in Full (full to the Lenders, the Administrative Agent and all other than Hedging Obligations under Secured Hedge Agreements, Cash Management Obligations under Secured Cash Management Agreements and contingent indemnification obligations, in each case, not then due and payable)Parties, and all of the Revolving Credit Lenders’ Revolving Credit Commitments are terminated. The Borrower intends that this Section 9.14 8.18 constitute, and this Section 9.14 8.18 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Credit Party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

Appears in 1 contract

Samples: Credit Agreement (Chaparral Energy, Inc.)

Commodity Exchange Act Keepwell Provisions. The Borrower hereby guarantees the payment and performance of all Obligations Indebtedness of each Credit Party (other than the Borrower) and absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each Credit Party (other than the Borrower) in order for such Credit Party to honor its obligations under its respective Guarantee Guaranty Agreement including obligations in with respect of Hedge to Swap Agreements (provided, however, that the Borrower shall only be liable under this Section 9.14 8.15 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 9.148.15, or otherwise under this Agreement or any Credit Loan Document, as it relates to such other Credit Parties, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of the Borrower under this Section 9.14 8.15 shall remain in full force and effect until all Obligations are Paid Indebtedness is paid in Full full (other than Hedging Obligations under contingent indemnity obligations for which no claims have been made) to the Lenders, the Administrative Agent and all other Secured Hedge Agreements, Cash Management Obligations under Secured Cash Management Agreements and contingent indemnification obligations, in each case, not then due and payable)Parties, and all of the Lenders’ Commitments are terminated. The Borrower intends that this Section 9.14 8.15 constitute, and this Section 9.14 8.15 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Credit Party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

Appears in 1 contract

Samples: Credit Agreement (Pressburg, LLC)

Commodity Exchange Act Keepwell Provisions. The Borrower hereby guarantees the payment and performance of all Obligations Indebtedness of each Credit Party Obligor (other than Borrower) and absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by to each Credit Party Obligor (other than the Borrower) in order for such Credit Party Obligor to honor its obligations under its respective Guarantee Guaranty Agreement including obligations in with respect of Hedge to Hedging Agreements (provided, however, that the Borrower shall only be liable under this Section 9.14 8.09 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 9.148.09, or otherwise under this Agreement or any Credit Loan Document, as it relates to such other Credit PartiesObligors, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of the Borrower under this Section 9.14 8.09 shall remain in full force and effect until all Obligations are Paid Indebtedness is paid in Full (full to the Lenders, the Administrative Agent and all other than Hedging Obligations under Secured Hedge Agreements, Cash Management Obligations under Secured Cash Management Agreements and contingent indemnification obligations, in each case, not then due and payable)Parties, and all of the Lenders’ Revolving Commitments and Term Commitments are terminated. The Borrower intends that this Section 9.14 8.09 constitute, and this Section 9.14 8.09 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Credit Party Obligor for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Exterran Partners, L.P.)

AutoNDA by SimpleDocs

Commodity Exchange Act Keepwell Provisions. The Borrower hereby guarantees the payment and performance of all Obligations Indebtedness of each Credit Party (other than Borrower) Guarantor that is a Subsidiary and absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each Credit Party (other than the Borrower) to such Guarantor that is a Subsidiary in order for such Credit Party Guarantor that is a Subsidiary to honor its obligations under its respective Guarantee Guaranty Agreement including obligations in with respect of Hedge to Swap Agreements (provided, however, that the Borrower shall only be liable under this Section 9.14 8.17 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 9.148.17, or otherwise under this Agreement or any Credit Loan Document, as it relates to such other Credit PartiesGuarantors that are Subsidiaries, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of the Borrower under this Section 9.14 8.17 shall remain in full force and effect until all Obligations are Paid Indebtedness is paid in Full (full to the Lenders, the Administrative Agent and all other than Hedging Obligations under Secured Hedge Agreements, Cash Management Obligations under Secured Cash Management Agreements and contingent indemnification obligations, in each case, not then due and payable)Parties, and all of the Lenders’ Commitments are terminated. The Borrower intends that this Section 9.14 8.17 constitute, and this Section 9.14 8.17 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Credit Party Guarantor that is a Subsidiary for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

Appears in 1 contract

Samples: Credit Agreement (Kodiak Oil & Gas Corp)

Commodity Exchange Act Keepwell Provisions. The Borrower Borrower, to the extent that it is a Qualified ECP Guarantor, hereby guarantees the payment and performance of all Secured Obligations of each Credit Loan Party (other than the Borrower) and absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each Credit Loan Party (other than the Borrower) in order for such Credit Loan Party to honor its obligations under its respective Guarantee the Guaranty and Collateral Agreement including obligations in with respect of Hedge to Hedging Agreements (provided, however, that the Borrower shall only be liable under this Section 9.14 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 9.14Section, or otherwise under this Agreement or any Credit Loan Document, as it relates to such other Credit Loan Parties, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of the Borrower under this Section 9.14 shall remain in full force and effect until all Secured Obligations are Paid paid in Full (full to the Lenders, the Administrative Agent and all other than Hedging Obligations under Secured Hedge Agreements, Cash Management Obligations under Secured Cash Management Agreements and contingent indemnification obligations, in each case, not then due and payable)Parties, and all of the Lenders’ Commitments are terminated. The Borrower intends that this Section 9.14 constitute, and this Section 9.14 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Credit Loan Party for all purposes of Section section 1a(18)(A)(v)(II) of the Commodity Exchange Act.)

Appears in 1 contract

Samples: MLP Credit Agreement

Time is Money Join Law Insider Premium to draft better contracts faster.