Common use of The Security Clause in Contracts

The Security. The Obligations will be secured by the Security Documents. Certain of the Security Documents are amendments and restatements of Security Documents (as defined in the Existing Credit Agreement), and as such, are granted by the Company, or its Restricted Subsidiaries, as applicable, in assumption, renewal, extension, amendment and restatement of such prior liens and security interests securing the Existing Credit Agreement and are entitled to the priority and perfection relating back to the date originally granted and assigned to the greatest extent possible. Each of the Company and its Restricted Subsidiaries hereby adopts, assumes, ratifies, and reaffirms such prior Liens and security interests and confirms that such Liens and security interests secure the Obligations as a continuation of the original “Obligations” described in the Existing Credit Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Venoco, Inc.), Credit Agreement (Venoco, Inc.)

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The Security. The Obligations (other than the Company’s obligations under the Hazardous Materials Indemnity) will be secured by the Security Documents. Certain of the Security Documents are amendments and restatements of Security Documents (as defined in the Existing Credit Agreement), and as such, are granted by the Company, or its Restricted Subsidiaries, as applicable, in assumption, renewal, extension, amendment and restatement of such prior liens and security interests securing the Existing Credit Agreement and are entitled to the priority and perfection relating back to the date originally granted and assigned to the greatest extent possible. Each of the Company and its Restricted Subsidiaries hereby adopts, assumes, ratifies, and reaffirms such prior Liens and security interests and confirms that such Liens and security interests secure the Obligations as a continuation of the original “Obligations” described in the Existing Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Venoco, Inc.)

The Security. The Obligations will be secured by the Security Documents. Certain of the Security Documents are amendments and restatements of Security Documents (as defined in the Existing Credit Agreement), and as such, are granted by the Company, or its Restricted Subsidiaries, as applicable, in assumption, renewal, extension, amendment and restatement of such prior liens and security interests securing the Existing Credit Agreement and are entitled to the priority and perfection relating back to the date originally granted and assigned to the greatest extent possible. Each of the Company and its Restricted Subsidiaries hereby adopts, assumes, ratifies, and reaffirms such prior Liens and security interests and confirms that such Liens and security interests secure the Obligations as a continuation of the original "Obligations" described in the Existing Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Venoco, Inc.)

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The Security. The Obligations will be secured by the Security Documents. Certain of the Security Documents are amendments and restatements of the Security Documents Instruments (as defined in the Existing Company Credit Agreement), and as such, are granted by the Company, or its Restricted Subsidiariesthe Guarantors, as applicable, in assumption, renewal, extension, amendment and restatement of such prior liens Liens and security interests securing the Existing Company Credit Agreement and are entitled to the priority and perfection relating back to the date originally granted and assigned to the greatest extent possible. Each of the Company and its Restricted Subsidiaries the Guarantors hereby adopts, assumes, ratifies, and reaffirms such prior Liens and security interests and confirms that such Liens and security interests secure the Obligations as a Obligations, which includes in part an assignment and continuation of the original “Obligations” described in the Existing Company Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Exploration Co of Delaware Inc)

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