Common use of Continuing Nature of Provisions Clause in Contracts

Continuing Nature of Provisions. Subject to Section 5.5, this Agreement shall continue to be effective, and shall not be terminable by any party hereto, until the earlier of (i) the Senior Debt Obligations Payment Date and (ii) the Royal Gold Obligations Payment Date; provided that if an Additional Senior Debt Agreement or Replacement Royal Gold Agreement, as applicable, is entered into following such termination, the relevant Secured Parties agree to, upon the request of the Vendor, restore this Agreement on the terms and conditions set forth herein until the earlier to occur of the next following Senior Debt Obligations Payment Date or Royal Gold Obligations Payment Date. This is a continuing agreement and the Senior Debt Secured Parties and the Purchaser may continue, at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness to, or for the benefit of, the Vendor on the faith hereof. In furtherance of the foregoing: Upon receipt of a notice from the Vendor stating that the Vendor have entered into entered into an Additional Senior Debt Agreement (which notice shall include the identity of the new Senior Debt Representative), the Purchaser shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Vendor or the new Senior Debt Representative shall reasonably request in order to provide to the new Senior Debt Representative the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Senior Debt Representative any Senior Debt Priority Collateral held by it, together with any necessary endorsements (or otherwise allow the new Senior Debt Representative to obtain control of such Senior Debt Priority Collateral), and (iii) take such other actions as the Vendor or the new Senior Debt Representative may reasonably request to provide the new Senior Debt Representative or the applicable the Senior Debt Creditors the benefits of this Agreement. The new Senior Debt Representative shall agree in a writing addressed to the Purchaser to be bound by the terms of this Agreement.

Appears in 2 contracts

Samples: Intercreditor Agreement (Thompson Creek Metals Co Inc.), Intercreditor Agreement (Royal Gold Inc)

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Continuing Nature of Provisions. Subject to the fifth sentence of this Section 5.59.02, this Agreement shall continue to be effective, and shall not be terminable revocable by any party hereto, until the earlier First Lien Obligations shall be Paid in Full. Notwithstanding the foregoing, the Second Lien Representative, on behalf of itself and the Second Lien Secured Parties, hereby waives any right it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency Proceeding. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Company or any other Grantor (as the case may be) in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect, (i) with respect to the Senior Debt Second Lien Representative, the Second Lien Secured Parties and the Second Lien Obligations, upon the later of (1) the date upon which the obligations under the Second Lien Indenture terminate if there are no other Second Lien Obligations Payment Date outstanding on such date and (2) if there are other Second Lien Obligations outstanding on such date, the date upon which such Second Lien Obligations terminate and (ii) the Royal Gold Obligations Payment Date; provided that if an Additional Senior Debt Agreement or Replacement Royal Gold Agreementwith respect to any First Lien Representative, as applicable, is entered into following such terminationany First Lien Secured Parties and any First Lien Obligations, the relevant date of notification by the Company to the Second Lien Representative of termination of this Agreement after all such First Lien Obligations have been Paid in Full, subject to the rights of the First Lien Secured Parties agree to, upon the request under Section 5.05 of the Vendor, restore this Agreement on the terms and conditions set forth herein until the earlier to occur of the next following Senior Debt Obligations Payment Date or Royal Gold Obligations Payment DateAgreement. This is a continuing agreement and the Senior Debt First Lien Secured Parties and the Purchaser Second Lien Secured Parties may continue, at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness to, or for the benefit of, the Vendor Company or any other Grantor on the faith hereof. In furtherance of the foregoing: Upon receipt of a notice from the Vendor stating that the Vendor have entered into entered into an Additional Senior Debt Agreement (which notice shall include the identity of the new Senior Debt Representative), the Purchaser shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Vendor or the new Senior Debt Representative shall reasonably request in order to provide to the new Senior Debt Representative the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Senior Debt Representative any Senior Debt Priority Collateral held by it, together with any necessary endorsements (or otherwise allow the new Senior Debt Representative to obtain control of such Senior Debt Priority Collateral), and (iii) take such other actions as the Vendor or the new Senior Debt Representative may reasonably request to provide the new Senior Debt Representative or the applicable the Senior Debt Creditors the benefits of this Agreement. The new Senior Debt Representative shall agree in a writing addressed to the Purchaser to be bound by the terms of this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Eastman Kodak Co)

Continuing Nature of Provisions. Subject to Section 5.5, this Agreement shall continue to be effective, and shall not be terminable by any party hereto, until the earlier of (ia) the Senior Debt Obligations Payment Date and (ii) the Royal Gold ABL Obligations Payment Date; provided that if an Additional Senior Debt a Replacement ABL Agreement or Replacement Royal Gold Agreement, as applicable, is entered into following such termination, the relevant Secured Parties agree to, upon the request of the Vendorany Credit Party, restore this Agreement on the terms and conditions set forth herein until the earlier to occur of the next following Senior Debt Exit Convertible Notes Obligations Payment Date or Royal Gold ABL Obligations Payment Date and (b) the Exit Convertible Notes Obligations Payment Date; provided that if a Replacement Notes Agreement is entered into following such termination, the relevant Secured Parties agree to, upon the request of any Credit Party, restore this Agreement on the terms and conditions set forth herein until the earlier to occur of the next following ABL Obligations Payment Date or Exit Convertible Notes Obligations Payment Date. This is a continuing agreement and the Senior Debt ABL Secured Parties and the Purchaser Exit Convertible Notes Secured Parties may continue, at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness to, or for the benefit of, the Vendor any Credit Party on the faith hereof. In furtherance of the foregoing: Upon receipt of a notice from the Vendor Credit Parties stating that the Vendor Credit Parties (or any of them) have entered into entered into an Additional Senior Debt a Replacement ABL Agreement (which notice shall include the identity of the new Senior Debt ABL Representative, if applicable), the Purchaser Exit Convertible Notes Representative shall promptly (and in any event within 10 days of the applicable request, unless otherwise agreed by the ABL Representative or the new ABL Representative, as applicable) (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Vendor Credit Parties or the new Senior Debt ABL Representative shall reasonably request in order to provide to the new Senior Debt ABL Representative or the applicable new ABL Secured Parties the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Senior Debt ABL Representative any Senior Debt ABL Priority Collateral held by it, together with any necessary endorsements (or otherwise allow the new Senior Debt ABL Representative to obtain control of such Senior Debt ABL Priority Collateral), and (iii) take such other actions as the Vendor Credit Parties or the new Senior Debt ABL Representative may reasonably request to provide the new Senior Debt ABL Representative or the applicable the Senior Debt Creditors ABL Secured Parties the benefits of this Agreement. The new Senior Debt ABL Representative shall agree in a writing addressed to the Purchaser Exit Convertible Notes Representative to be bound by the terms of this Agreement. Upon receipt of a notice from the Credit Parties stating that the Credit Parties (or any of them) have entered into a Replacement Notes Agreement (which notice shall include the identity of the new Exit Convertible Notes Representative, if applicable), the ABL Representative shall promptly (and in any event within 10 days of the applicable request, unless otherwise agreed by the Exit Convertible Notes Representative or the new Exit Convertible Notes Representative, as applicable) (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Credit Parties or the new Exit Convertible Notes Representative shall reasonably request in order to provide to the new Exit Convertible Notes Representative or the applicable new Exit Convertible Notes Secured Parties the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Exit Convertible Notes Representative any Exit Convertible Notes Priority Collateral held by it, together with any necessary endorsements (or otherwise allow the new Exit Convertible Notes Representative to obtain control of such Exit Convertible Notes Priority Collateral), and (iii) take such other actions as the Credit Parties or the new Exit Convertible Notes Representative may reasonably request to provide the new Exit Convertible Notes Representative or the applicable Exit Convertible Notes Secured Parties the benefits of this Agreement. The new Exit Convertible Notes Representative shall agree in a writing addressed to the ABL Representative to be bound by the terms of this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Hi-Crush Inc.)

Continuing Nature of Provisions. Subject to Section 5.5, this Agreement shall continue to be effective, and shall not be terminable by any party hereto, until the earlier of (i) the Senior Debt Obligations Payment Date and (ii) the Royal Gold Obligations Payment Date; provided that if an Additional Senior Debt Agreement or Replacement Royal Gold Agreement, as applicable, is entered into following such termination, the relevant Secured Parties agree to, upon the request of the Vendor, restore this Agreement on the terms and conditions set forth herein until the earlier to occur of the next following Senior Debt Obligations Payment Date or Royal Gold Obligations Payment Date. This is a continuing agreement and the Senior Debt Secured Parties and the Purchaser may continue, at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness to, or for the benefit of, the Vendor on the faith hereof. In furtherance of the foregoing: Upon receipt of a notice from the Vendor stating that the Vendor have entered into entered into an Additional Senior Debt Agreement (which notice shall include the identity of the new Senior Debt Representative), the Purchaser shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Vendor or the new Senior Debt Representative shall reasonably request in order to provide to the new Senior Debt Representative the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Senior Debt Representative any Senior Debt Priority Collateral held by it, together with any necessary endorsements (or otherwise allow the new Senior Debt Representative to obtain control of such Senior Debt Priority Collateral), and (iii) take such other actions as the Vendor or the new Senior Debt Representative may reasonably request to provide the new Senior Debt Representative or the applicable the Senior Debt Creditors the benefits of this Agreement. The new Senior Debt Representative shall agree in a writing addressed to the Purchaser to be bound by the terms of this Agreement.. 9.5

Appears in 1 contract

Samples: Intercreditor Agreement Intercreditor Agreement

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Continuing Nature of Provisions. Subject to Section 5.5, this Agreement shall continue to be effective, and shall not be terminable by any party hereto, until the earlier of (i) the Senior Debt Obligations Payment Date and (ii) the Royal Gold Obligations Payment Date; provided that if an a Additional Senior Debt Agreement or Replacement Royal Gold Agreement, as applicable, is entered into following such termination, the relevant Secured Parties agree to, upon the request of the Vendor, restore this Agreement on the terms and conditions set forth herein until the earlier to occur of the next following Senior Debt Obligations Payment Date or Royal Gold Obligations Payment Date. This is a continuing agreement and the Senior Debt Secured Parties and the Purchaser may continue, at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness to, or for the benefit of, the Vendor on the faith hereof. In furtherance of the foregoing: Upon receipt of a notice from the Vendor stating that the Vendor have entered into entered into an a Additional Senior Debt Agreement (which notice shall include the identity of the new Senior Debt Representative), the Purchaser shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Vendor or the new Senior Debt Representative shall reasonably request in order to provide to the new Senior Debt Representative the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Senior Debt Representative any Senior Debt Priority Collateral held by it, together with any necessary endorsements (or otherwise allow the new Senior Debt Representative to obtain control of such Senior Debt Priority Collateral), and (iii) take such other actions as the Vendor or the new Senior Debt Representative may reasonably request to provide the new Senior Debt Representative or the applicable the Senior Debt Creditors the benefits of this Agreement. The new Senior Debt Representative shall agree in a writing addressed to the Purchaser to be bound by the terms of this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Royal Gold Inc)

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