Common use of Conflicting or Adverse Agreements or Restrictions Clause in Contracts

Conflicting or Adverse Agreements or Restrictions. Neither the execution, delivery and performance by any Obligor of the Loan Documents to which it is a party, nor compliance with the terms and provisions thereof, nor the extensions of credit contemplated by the Loan Documents, (a) will breach or violate any applicable Requirement of Law, (b) will result in any breach or violation of, any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in the creation or imposition of (or the obligation to create or impose) any Lien upon any of its property or assets pursuant to the terms of any indenture, mortgage, deed of trust, agreement or other instrument to which it or any of its consolidated Subsidiaries is party or by which any property or asset of it or any of its consolidated Subsidiaries is bound or to which it is subject, except for breaches, violations and defaults under clauses (a) and (b) that collectively for all Obligors will not have a Material Adverse Effect or (c) will violate any provision of the organic documents of any Obligor.

Appears in 2 contracts

Samples: Credit Agreement (Evi Weatherford Inc), Weatherford International LTD

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Conflicting or Adverse Agreements or Restrictions. Neither the execution, delivery and performance by any Obligor of the Loan Documents to which it is a party, nor compliance with the terms and provisions thereof, nor the extensions of credit contemplated by the Loan Documents, (a) will breach or violate any applicable Requirement of Law, (b) will result in any breach or violation of, any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in the creation or imposition of (or the obligation to create or impose) any Lien upon any of its property or assets pursuant to the terms of any indenture, mortgage, deed of trust, agreement or other instrument to which it or any of its consolidated Subsidiaries is party or by which any property or asset of it or any of its consolidated Subsidiaries is bound or to which it is subject, except for breaches, violations and defaults under clauses (a) and (b) that collectively for all Obligors will not have a Material Adverse Effect or (c) will violate any provision of the organic organizational documents of any Obligor.

Appears in 2 contracts

Samples: Credit Agreement (Weatherford International Inc /New/), Weatherford International LTD

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Conflicting or Adverse Agreements or Restrictions. Neither the execution, delivery and performance by any Obligor the Guarantor of the Loan Documents Operative Agreements to which it is a party, nor compliance with the terms and provisions thereof, nor the extensions extension of credit the lease facility contemplated by the Loan DocumentsOperative Agreements, (a) will breach or violate any applicable Requirement of Law, (b) will result in any breach or violation of, of any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in the creation or imposition of (or the obligation to create or impose) any Lien upon any of its property Equipment or assets pursuant to the terms of any indenture, mortgage, deed of trust, agreement or other instrument to which it or any of its consolidated Subsidiaries is party or by which any property Equipment or asset of it or any of its consolidated Subsidiaries is bound or to which it is subject, except for breaches, violations and defaults under clauses (a) and (b) that collectively for all Obligors will not have a Material Adverse Effect or (c) will violate any provision of the organic documents certificate of any Obligorincorporation or bylaws of the Guarantor.

Appears in 1 contract

Samples: Guaranty Agreement (Weatherford International Inc /New/)

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