Common use of Covenant to Secure Notes Equally Clause in Contracts

Covenant to Secure Notes Equally. The Company will, if it or any Subsidiary shall grant or assume any Lien upon any of its property or assets, whether now owned or hereafter acquired, other than Liens permitted by the provisions of Section 7.3(a) (unless prior written consent to the creation or assumption thereof shall have been obtained pursuant to Section 12.3), make or cause to be made effective a provision whereby the Notes will be secured by such Lien equally and ratably with any and all other Indebtedness thereby secured so long as any such other Indebtedness shall be so secured pursuant to such agreements and instruments as shall be approved by the Required Holder(s), and the Company will cause to be delivered to the holder of each Note an opinion of independent counsel to the effect that such agreements and instruments are enforceable in accordance with their terms and that the Notes are equally and ratably secured with such other Indebtedness.

Appears in 2 contracts

Samples: Restructuring Agreement (Boots & Coots International Well Control Inc), Subordinated Note Restructuring Agreement (Prudential Insurance Co of America)

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Covenant to Secure Notes Equally. The Company will, if it or any Subsidiary shall grant create or assume any Lien upon any of its property or assets, whether now owned or hereafter acquired, other than Liens permitted by the provisions of Section 7.3(aparagraph 6C(1) (unless prior written consent to the creation or assumption thereof shall have been obtained pursuant to Section 12.3paragraph 12C), make or cause to be made effective a provision whereby the Notes will be secured by such Lien equally and ratably with any and all other Indebtedness thereby secured so long as any such other Indebtedness shall be so secured pursuant to such agreements and instruments as shall be approved by the Required Holder(s), and the Company will cause to be delivered to the holder of each Note an opinion of independent counsel to the effect that such agreements and instruments are enforceable in accordance with their terms and that the Notes are equally and ratably secured with such other Indebtedness.

Appears in 2 contracts

Samples: Subordinated Note and Warrant Purchase Agreement (Equity Compression Services Corp), Boots & Coots International Well Control Inc

Covenant to Secure Notes Equally. The If the Company will, if it or any Subsidiary shall grant create or assume any Lien upon any of its property or assets, whether now owned or hereafter acquired, other than Permitted Liens permitted by the provisions of Section 7.3(a) (unless prior written consent to the creation or assumption thereof shall have been obtained pursuant to Section 12.3this Agreement), the Company will make or cause to be made effective a provision whereby the Notes will be secured by such Lien equally and ratably with any and all other Indebtedness thereby secured so long as any such other Indebtedness shall be so secured pursuant to such agreements and instruments as shall be approved by the Required Holder(s)Holders, and the Company will cause to be delivered to the holder of each Note an opinion of independent counsel to the effect that such agreements and instruments are enforceable in accordance with their terms and that the Notes are equally and ratably secured with such other Indebtedness.

Appears in 1 contract

Samples: Note Purchase Agreement (Hastings Entertainment Inc)

Covenant to Secure Notes Equally. The Parent or the Company will, if it or any Subsidiary of either of them shall grant create or assume any Lien upon any of its property or assets, whether now owned or hereafter acquired, acquired to secure Indebtedness other than Liens permitted by the provisions of Section 7.3(aparagraph 6B(2) (unless prior written consent to the creation or assumption thereof shall have been obtained pursuant to Section 12.3paragraph 13C), make or cause to be made effective a provision whereby the Notes will be secured by such Lien equally and ratably with any and all other Indebtedness thereby secured so long as any such other Indebtedness shall be so secured pursuant to such agreements and instruments as shall be approved by the Required Holder(s), and the Parent and the Company will cause to be delivered to the holder of each Note an opinion of independent counsel to the effect that such agreements and instruments are enforceable in accordance with their terms and that the Notes are equally and ratably secured with such other Indebtedness.

Appears in 1 contract

Samples: Note and Warrant Purchase Agreement (Hallwood Energy Corp)

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Covenant to Secure Notes Equally. The Company will, if it or any Subsidiary shall grant create or assume any Lien upon any of its property or assets, whether now owned or hereafter acquired, acquired to secure Indebtedness other than Liens permitted by the provisions of Section 7.3(aparagraph 6B(2) (unless prior written consent to the creation or assumption thereof shall have been obtained pursuant to Section 12.3paragraph 12C), make or cause to be made effective a provision whereby the Notes will be secured by such Lien equally and ratably with any and all other Indebtedness thereby secured so long as any such other Indebtedness shall be so secured pursuant to such agreements and instruments as shall be approved by the Required Holder(s), and the Company will cause to be delivered to the holder of each Note an opinion of independent counsel to the effect that such agreements and instruments are enforceable in accordance with their terms and that the Notes are equally and ratably secured with such other Indebtedness.

Appears in 1 contract

Samples: Subordinated Note and Warrant Purchase Agreement (Hallwood Consolidated Resources Corp)

Covenant to Secure Notes Equally. The Company will, if it or any Subsidiary shall grant create or assume any Lien upon any of its property or assets, whether now owned or hereafter acquired, other than Liens permitted by the provisions of Section 7.3(aparagraph 6C(1) (unless prior written consent to the creation or assumption thereof shall have been obtained pursuant to Section 12.3paragraph 11C), make or cause to be made made, in documentation satisfactory to the Required Holder(s), effective a provision whereby the Notes will be secured by such Lien equally and ratably with any and all other Indebtedness thereby secured so long as any such other Indebtedness shall be so secured pursuant and each holder of Notes shall have received an opinion of counsel, in form, scope and substance satisfactory to such agreements and instruments as shall be approved by the Required Holder(s), and the Company will cause to be delivered with respect to the holder of each Note an opinion of independent counsel foregoing and as to the effect that such agreements and instruments are enforceable in accordance with their terms and that the Notes are equally and ratably secured with such other Indebtednessmatters as the Required Holder(s) may reasonably request.

Appears in 1 contract

Samples: Master Shelf Agreement (Transmontaigne Inc)

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