Description of Obligations. The following obligations (“Obligations”) are secured by this Agreement: (a) All debts, obligations, liabilities and agreements of Borrower to Secured Party, now or hereafter existing, arising directly or indirectly between Borrower and Secured Party whether absolute or contingent, joint or several, secured or unsecured, due or not due, contractual or tortious, liquidated or unliquidated, arising by operation of law or otherwise, and all renewals, extensions or rearrangement of any of the above; (b) All costs incurred by Secured Party to obtain, preserve, perfect and enforce this Agreement and maintain, preserve, collect and enforce the Collateral; (c) All debts, obligations, liabilities and agreements of Borrower to Secured Party under this Agreement; (d) Interest on the above amounts determined in accordance with applicable agreements between Secured Party and Borrower; (e) All indebtedness, liabilities and obligations of Borrower to Secured Party under the Loan Agreement dated even date herewith (the “Loan Agreement”) between Borrower and Secured Party and all renewals, extensions and modifications thereof; (f) all indebtedness, liabilities and obligations of Borrower to Secured Party under that certain Promissory Note dated of even date herewith in the maximum stated principal amount of $15,000,000.00 (the “Note”) payable by Borrower to the order of Secured Party and all renewals, extensions and modifications thereof; (g) all reasonable expenses of Secured Party, including reasonable fees and expenses of Secured Party’s counsel, incident to the enforcement of payment of all obligations of the Borrower by any action or participation in, or in connection with a case or proceeding under the Bankruptcy Code, or any successor statute thereto.. In the event any amount paid to Secured Party on any of the Obligations is subsequently recovered from Secured Party in or as a result of any bankruptcy, insolvency or fraudulent conveyance proceeding involving an obligor of the Obligations other than Borrower, Borrower shall be liable to Secured Party for the amounts so recovered up to the fair market value of the Collateral whether or not the Collateral has been released or the security interest terminated. In the event the Collateral has been released or the security interest terminated, the fair market value of the Collateral shall be determined, at Secured Party’s option, as of the date the Collateral was released, the security interest terminated, or said amount...
Description of Obligations. The following obligations ("Obligations") are secured by this Security Agreement:
Description of Obligations. The following obligations ("Obligation" or "Obligations") are secured by this Agreement: (a) All debts, obligations liabilities and agreements of Debtor to Lender, now or hereafter existing, arising under the Loan Agreement, and all renewals, extensions or rearrangement of any of the above; (b) All costs incurred by Lender to obtain, preserve, perfect and enforce this Agreement and maintain, preserve, collect and realize upon the Collateral; (c) All other reasonable costs and reasonable attorney's fees incurred by Lender for which Debtor is obligated to reimburse Lender in accordance with the terms of the Loan Documents, together with interest at the maximum rate allowed by law or if none, Prime Rate plus 3.75% per annum. If Debtor is not the obligor of the Obligation, and in the event any amount paid to Lender on any Obligation is subsequently recovered from Lender in or as a result of any bankruptcy, insolvency or fraudulent conveyance proceeding, Debtor shall be liable to Lender for the amounts so recovered up to the fair market value of the Collateral whether or not the Collateral has been released or the security interest terminated. In the event the Collateral has been released or the security interest terminated the fair market value of the Collateral shall be determined, at Lender's option, as of the date the Collateral was released, the security interest terminated, or said amounts were recovered.
Description of Obligations. From and after Closing, ASSIGNOR will retain responsibility for all liabilities, obligations and duties with respect to the ownership and (if applicable) operation of the Property that are attributable to periods before the Effective Date, except as otherwise specifically provided in this Agreement (the “ASSIGNOR’s Retained Obligations”). Without limiting the generality of the foregoing, subject to Section 8.6, the ASSIGNOR’s Retained Obligations shall specifically include:
Description of Obligations. After Closing, Seller will retain responsibility for all liabilities, obligations and duties with respect to the ownership and (if applicable) operation of the Assets that are attributable to periods before the Effective Time, except as otherwise specifically provided in this Agreement ("Seller's Retained Obligations"). The Seller's Retained Obligations include without limitation:
Description of Obligations. This Security Agreement creates a first priority security interest in the Collateral securing the payment and performance of the obligations of Debtor (the “Obligations”) under the documents, instruments and agreements (collectively the “Loan Documents”) evidencing, governing or securing the Loan, which includes, without limitation, all obligations and indebtedness arising under or pursuant to the Loan Agreement and each Note.
Description of Obligations. Without limiting ASSIGNEE’s rights to indemnity under Article 8, upon and after Closing, ASSIGNEE assumes full responsibility and liability for the following occurrences, events, conditions, and activities on or related to the Property (the “Environmental Obligations”), regardless of whether arising from the ownership or operation of the Property before, on or after the Effective Date, and regardless of whether resulting from any acts or omissions of ASSIGNOR (INCLUDING THOSE ARISING FROM ASSIGNOR’S SOLE, JOINT, CONCURRENT, OR COMPARATIVE NEGLIGENCE, STRICT LIABILITY OR OTHER FAULT) or the condition of the Property when acquired:
Description of Obligations. From and after the Closing, except as set forth in Section 8.6.2, the indemnification rights in Section 8.4 for the benefit of W&T shall not cover any the following occurrences, events, conditions, and activities on or related to the Property (the “Environmental Obligations”), regardless of whether arising from the ownership or operation of the Property before or after the Calculation Date, and regardless of whether resulting from any acts or omissions of KMG (INCLUDING THOSE ARISING FROM KMG’S SOLE, JOINT, CONCURRENT, OR COMPARATIVE NEGLIGENCE, GROSS NEGLIGENCE, STRICT LIABILITY OR OTHER FAULT) or the condition of the Property when acquired:
Description of Obligations. The security interest granted by Pledgor shall secure the payment and performance of any and all obligations now or hereafter existing of the Company, Pledgor or any Subsidiary of the Pledgor, and any other Obligor (other than Administrative Agent or Secured Parties) under the Credit Agreement and the Loan Papers, including any extensions, modifications, substitutions, amendments and renewals thereof, whether for principal, interest, fees, premium, expenses, indemnification or otherwise (all such obligations of the Company, Pledgor, each of its Subsidiaries, and each other Obligor together with the "Obligations" as defined in the Credit Agreement being the "Obligations"). Without limiting the generality of the foregoing, this Agreement secures the payment of all amounts which constitute part of the Obligations and would be owed by the Company, Pledgor, each of its Subsidiaries or any other Obligor to Administrative Agent or any Secured Party under any Loan Paper, but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving the Company, Pledgor, each of its Subsidiaries or any other Obligor (including all such amounts which would become due but for the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding of the Company, Pledgor, any of its Subsidiaries, or any other Obligor under any Debtor Relief Law).
Description of Obligations. Check the appropriate box designating this as a return on a single issue basis or a consolidated return basis.
