Debtor Obligations Clause Samples
The Debtor Obligations clause defines the specific duties and responsibilities that the debtor must fulfill under the agreement. Typically, this includes requirements such as making timely payments, maintaining adequate insurance on secured assets, and providing necessary financial information to the creditor. By clearly outlining what is expected from the debtor, this clause ensures that both parties understand their roles and helps prevent disputes related to non-performance or misunderstandings about the debtor's commitments.
Debtor Obligations. The Obligations secured by this Security Agreement shall consist of all Obligations of Debtor as defined in the Credit Agreement, including, without limitation all obligations under each other Loan Document, and any Indebtedness of Debtor to any Lender in connection with any Hedge Transactions, whether now existing or hereafter arising, voluntary or involuntary, whether or not jointly owed with others, direct or indirect, absolute or contingent, liquidated or unliquidated, and whether or not from time to time decreased or extinguished and later increased, created or incurred.
Debtor Obligations. Debtor will: (a) pay when due all Secured Obligations; (b) promptly, and in any event no more than five (5) Business Days after the need therefore or after a request by Security Agent, take, or cause to be taken, at the Debtor’s cost and expense, such action with respect to the execution, delivery, recording, registration and filing of any financing statements or such other instruments or documents as are necessary or desirable, or that Security Agent may from time to time request, to fully carry out the intent and purpose of this Agreement and/or to establish, protect, preserve, or maintain a valid perfected security interest in the Collateral; (c) furnish Security Agent such information concerning Debtor and the Collateral as Security Agent may from time to time request, including but not limited to current financial statements; (d) keep the Collateral separate and identifiable where such the Collateral is currently located and permit Security Agent and its representatives to inspect the Collateral and/or records pertaining thereto from time to time during normal business hours; (h) reimburse Security Agent for any expenses, including but not limited to reasonable attorneys’ fees and expenses (including the allocated costs of Security Agent’s in-house counsel and legal staff) incurred by Security Agent in seeking to protect, collect or enforce any rights in the Collateral; (i) faithfully keep complete and accurate books and records and make all necessary entries therein to reflect the quantities, costs, current values and locations of all Collateral, the events and transactions giving rise thereto and all payments, credits and adjustments applicable thereto, shall keep the Security Agent fully and accurately informed as to the locations of all such books and records; (j) maintain the Collateral in good condition and not use the Collateral for any unlawful purpose; (k) perform all of the obligations of Debtor under the Collateral and save Security Agent harmless from the consequence of any failure to do so; and (l) at its own expense, upon request of Security Agent, notify any parties obligated to Debtor on any the Collateral to make payment to Security Agent, and Debtor hereby irrevocably grants Security Agent power of attorney to make said notifications and collections,
Debtor Obligations. Debtor shall pay to Lender all amounts due and owing to Lender arising from or in connection with the Agreement, the Note, or any other agreement or instrument executed in connection therewith, in accordance with the terms of the same, when and as the same become due.
Debtor Obligations. Each of the Pledging Parties reaffirms its obligations under the Security Agreement and the applicable loan documents, as amended, and agrees that such obligations are valid and binding, enforceable in accordance with their terms, subject to no defense, counterclaim, or objection.