Common use of REDEMPTION OF PRIOR SECURITY Clause in Contracts

REDEMPTION OF PRIOR SECURITY. The Collateral Agent may redeem or take a transfer of any prior Security over the Securities and may agree the accounts of prior encumbrancers. Such agreed accounts shall be conclusive and binding on the Company. Any amount paid in connection with such redemption or transfer (including expenses) shall be paid on demand by the Company to the Collateral Agent and until such payment shall form part of the Secured Liabilities.

Appears in 1 contract

Samples: Credit Agreement (Endeavour International Corp)

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REDEMPTION OF PRIOR SECURITY. The Collateral Agent may redeem or take a transfer of any prior Security over the Securities Charged Assets and may agree the accounts of any Person entitled to that prior encumbrancersSecurity. Such An agreed accounts account shall be conclusive and binding on the Company. Any amount paid in connection with such redemption or transfer (including expenses) shall be paid on demand by the Company to the Collateral Agent and until such payment shall form part of the Secured Liabilities.

Appears in 1 contract

Samples: Security Agreement (Endeavour International Corp)

REDEMPTION OF PRIOR SECURITY. The Collateral Agent may redeem or take a transfer of any prior Security over the Securities Charged Assets and may agree the accounts of prior encumbrancers. Such An agreed accounts account shall be conclusive and binding on the Company. Any amount paid in connection with such redemption or transfer (including expenses) shall be paid on demand by the Company to the Collateral Agent and until such payment shall form part of the Secured Liabilities.

Appears in 1 contract

Samples: Credit Agreement (Endeavour International Corp)

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REDEMPTION OF PRIOR SECURITY. The Collateral Agent may redeem or take a transfer of any prior Security over the Securities and may agree the accounts of any person entitled to that prior encumbrancersSecurity. Such LO\3297205.8 agreed accounts shall be conclusive and binding on the Company. Any amount paid in connection with such redemption or transfer (including expenses) shall be paid on demand by the Company to the Collateral Agent and until such payment shall form part of the Secured Liabilities.

Appears in 1 contract

Samples: Security Agreement (Endeavour International Corp)

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