Common use of Obligations Continuing Clause in Contracts

Obligations Continuing. The obligations of each Subsidiary Guarantor hereunder shall be continuing and shall remain in full force and effect until all the obligations have been paid and satisfied in full. Each Subsidiary Guarantor agrees with the Trustee that it will from time to time deliver to the Trustee suitable written acknowledgments of its continued liability hereunder and under any other instrument or instruments in such form as counsel to the Trustee may advise and as will prevent any action brought against it in respect of any default hereunder being barred by any statute of limitations now or hereafter in force and, in the event of the failure of a Subsidiary Guarantor so to do, it hereby irrevocably appoints the Trustee the attorney and agent of such Subsidiary Guarantor to make, execute and deliver such written acknowledgment or acknowledgments or other instruments as may from time to time become necessary or advisable, in the judgment of the Trustee on the advice of counsel, to fully maintain and keep in force the liability of such Subsidiary Guarantor hereunder; provided, however, that notwithstanding anything herein to the contrary, nothing in this Section 11.09 shall be construed to obligate the Trustee to take any action not otherwise allowed by this Indenture or the TIA, and under no circumstances shall Trustee be required to take any actions in compliance with this Section 11.09 which would incur any liability whatsoever under the terms of this Indenture or otherwise except to the extent that it is provided with security or indemnity satisfactory to it, nor shall Trustee's actions hereunder be deemed to be a breach of any other provision of this Indenture.

Appears in 1 contract

Samples: Canadian Abraxas Petroleum LTD

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Obligations Continuing. The obligations Obligations of each Subsidiary Parent Guarantor hereunder under its Parent Guaranty shall be continuing and shall remain in full force and effect until all the obligations Obligations hereunder have been paid and satisfied in full. Each Subsidiary Parent Guarantor hereby agrees with the Trustee that it will from time to time deliver to the Trustee suitable written acknowledgments of its this continued liability hereunder and under any other instrument or instruments in such form as counsel to the Trustee may advise and as will prevent any action brought against it in respect of any default hereunder being barred by any statute of limitations now or hereafter in force and, in the event of the failure of a Subsidiary Parent Guarantor so to do, it hereby shall irrevocably appoints appoint the Trustee Trustee, the attorney and agent of such Subsidiary Parent Guarantor to make, execute and deliver such written acknowledgment or acknowledgments or other instruments as may from time to time become necessary or advisable, in the judgment of the Trustee on the advice of counsel, to fully maintain and keep in force the liability of such Subsidiary Parent Guarantor hereunder; provided, however, that notwithstanding anything herein to under its Parent Guaranty. Each Parent Guarantor hereby waives the contrary, nothing in this Section 11.09 shall be construed to obligate the Trustee to take any action not otherwise allowed by this Indenture or the TIA, and under no circumstances shall Trustee be required to take any actions in compliance with this Section 11.09 which would incur any liability whatsoever under the terms of this Indenture or otherwise except to the extent that it is provided with security or indemnity satisfactory to it, nor shall Trustee's actions hereunder be deemed to be a breach pleading of any other provision statute of this Indenturelimitations as a defense to Obligations hereunder.

Appears in 1 contract

Samples: Second Supplemental Indenture (Golden Books Family Entertainment Inc)

Obligations Continuing. The obligations of each Subsidiary Guarantor hereunder shall be continuing and shall remain in full force and effect until all the obligations Obligations of the Issuer under this Indenture and the Notes have been paid and satisfied in full. Each Subsidiary Guarantor agrees with the Trustee that it will from time to time deliver to the Trustee suitable written acknowledgments of its continued liability hereunder and under any other instrument or instruments in such form as counsel to the Trustee may advise and as will prevent any action brought against it in respect of any default hereunder being barred by any statute of limitations now or hereafter in force and, in the event of the failure of a Subsidiary Guarantor so to do, it hereby irrevocably appoints the Trustee the attorney and agent of such Subsidiary Guarantor to make, execute and deliver such written acknowledgment or acknowledgments or other instruments as may from time to time become necessary or advisable, in the judgment of the Trustee Trustee, on the advice of counsel, to fully maintain and keep in force the liability of such Subsidiary Guarantor hereunder; providedPROVIDED, howeverHOWEVER, that notwithstanding anything herein to the contrary, nothing in this Section 11.09 shall be construed to obligate the Trustee to take any action not otherwise allowed by this Indenture or the TIA, and under no circumstances shall Trustee be required to take any actions in compliance with this Section 11.09 which would incur any liability whatsoever under the terms of this Indenture or otherwise except to the extent that it is provided with security or indemnity satisfactory to it, nor shall Trustee's actions hereunder be deemed to be a breach of any other provision of this Indenture.

Appears in 1 contract

Samples: Indenture (Abraxas Petroleum Corp)

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Obligations Continuing. The obligations of each Subsidiary Guarantor hereunder shall be continuing and shall remain in full force and effect until all the obligations Obligations of the Issuers under this Indenture and the Notes have been paid and satisfied in full. Each Subsidiary Guarantor agrees with the Trustee that it will from time to time deliver to the Trustee suitable written acknowledgments of its continued liability hereunder and under any other instrument or instruments in such form as counsel to the Trustee may advise and as will prevent any action brought against it in respect of any default hereunder being barred by any statute of limitations now or hereafter in force and, in the event of the failure of a Subsidiary Guarantor so to do, it hereby irrevocably appoints the Trustee the attorney and agent of such Subsidiary Guarantor to make, execute and deliver such written acknowledgment or acknowledgments or other instruments as may from time to time become necessary or advisable, in the judgment of the Trustee on the advice of counsel, to fully maintain and keep in force the liability of such Subsidiary Guarantor hereunder; provided, however, that notwithstanding anything herein to the contrary, nothing in this Section 11.09 shall be construed to obligate the Trustee to take any action not otherwise allowed by this Indenture or the TIA, and under no circumstances shall Trustee be required to take any actions in compliance with this Section 11.09 which would incur any liability whatsoever under the terms of this Indenture or otherwise except to the extent that it is provided with security or indemnity satisfactory to it, nor shall Trustee's actions hereunder be deemed to be a breach of any other provision of this Indenture.

Appears in 1 contract

Samples: Supplemental Indenture (Canadian Abraxas Petroleum LTD)

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