Common use of Agreement to Deliver Security Documents Clause in Contracts

Agreement to Deliver Security Documents. i. Deliver promptly to further secure the Obligations whenever requested by Xxxxxx in good faith, Mortgages, Security Agreements, financing statements, continuation statements, extension agreements, and other similar agreements or instruments (in addition to those required to be delivered under Section 5) in form and substance reasonably satisfactory to Xxxxxx in good faith for the purpose of granting, confirming, and perfecting first and prior (other than with respect to Liens permitted pursuant to Section 8(e)) liens or security interests in any property that is at that time Collateral Property or that was intended to be Collateral Property pursuant to any Loan Document previously executed and not then released by Xxxxxx; provided, however, that LEI shall at all times maintain in effect in favor of Xxxxxx (A) all Mortgages deemed necessary by Xxxxxx to grant, confirm, and perfect first and prior (other than with respect to Liens permitted pursuant to Section 8(e)) liens or security interests in 80% of the Proved Reserves set forth in the most recent Reserve Report (whether developed or undeveloped); and further provided, however, that in the event that the Hydrocarbon Interests on which Xxxxxx has a first priority perfected Lien (other than with respect to Liens permitted pursuant to Section 8(e)) shall constitute less than 80% of the Proved Reserves (whether developed or undeveloped), LEI shall promptly notify Xxxxxx and execute or cause to be executed additional Mortgages necessary to increase the percentage to 80%, in each case, together with tax affidavits or other documents or instruments as may be necessary or, in the reasonable opinion of Xxxxxx, desirable for the due recordation or filing of the additional Mortgages and (B) all Security Documents deemed necessary by Xxxxxx to grant, confirm, and perfect first and prior liens and security interests in all of LEI’s personal property, including cash, accounts, receivables, inventory, contract rights, and general intangibles.

Agreement to Deliver Security Documents. i. Deliver promptly to further secure the Obligations whenever requested by Xxxxxx in good faith, Mortgages, Security Agreements, financing statements, continuation statements, extension agreements, and other similar agreements or instruments (in addition to those required to be delivered under Section 5) in form and substance reasonably satisfactory to Xxxxxx in good faith for the purpose of granting, confirming, and perfecting first and prior (other than with respect to Liens permitted pursuant to Section 8(e)) liens or security interests in any property that is at that time Collateral Property or that was intended to be Collateral Property pursuant to any Loan Document previously executed and not then released by Xxxxxx; provided, however, that LEI shall at all times maintain in effect in favor of Xxxxxx (A) all Mortgages deemed necessary by Xxxxxx to grant, confirm, and perfect first and prior (other than with respect to Liens permitted pursuant to Section 8(e)) liens or security interests in 80% of the Proved Reserves set forth in the most recent Reserve Report (whether developed or undeveloped); and further provided, however, that in the event that the Hydrocarbon Interests on which Xxxxxx has a first priority perfected Lien (other than with respect to Liens permitted pursuant to Section 8(e)) shall constitute less than 80% of the Proved Reserves (whether developed or undeveloped), LEI shall promptly notify Xxxxxx and execute or cause to be executed additional Mortgages necessary to increase the percentage to 80%, in each case, together with tax affidavits or other documents or instruments as may be necessary or, in the reasonable opinion of Xxxxxx, desirable for the due recordation or filing of the additional Mortgages and (B) all Security Documents deemed necessary by Xxxxxx to grant, confirm, and perfect first and prior liens and security interests in all of LEI’s personal property, including cash, accounts, receivables, inventory, contract rights, and general intangibles.. Second Amended Letter Loan Agreement Xxxxxx-Xxxxx Energy Loan/November 13, 2014

Agreement to Deliver Security Documents. i. Deliver promptly 8.1.7 Each of the Borrower and the Guarantor agrees to deliver to further secure the Obligations whenever requested by Xxxxxx the Agent in good faith, Pledge Agreements, Mortgages, Security Agreementsmortgages, deeds, deeds of trust, security agreements, financing statements, continuation statements, extension agreements, extensions agreements and other similar agreements or instruments (in addition to those required to be delivered under Section 5Article VI) in form and substance reasonably satisfactory to Xxxxxx the Agent in good faith for the purpose of granting, confirming, confirming and perfecting first and prior (other than with respect to Liens permitted pursuant to Section 8(e)) liens or security interests in any property that which is at that such time Collateral Property or that which was intended to be Collateral Property pursuant to any Loan Document previously executed and not then released by Xxxxxx; the Agent, provided, however, that LEI the Borrower shall at all times maintain in effect in favor of Xxxxxx (A) all the Agent such Mortgages deemed as are necessary by Xxxxxx to grant, confirm, confirm and perfect first and prior (other than with respect to Liens permitted pursuant to Section 8(e)) liens or security interests in 80at least 90% of the present value of the Proved Reserves set forth in the most recent Reserve Report (whether developed or undeveloped); and further further, provided, however, that in the event that the Hydrocarbon Interests on which Xxxxxx the Agent has a first priority perfected Lien (other than with respect to Liens permitted pursuant to Section 8(e)) shall constitute less than 8090% of the present value of the Proved Reserves (whether developed or undeveloped), LEI the Borrower shall promptly notify Xxxxxx the Agent and execute or cause to be executed additional Mortgages necessary to increase the such percentage to 80at least 90%. The Borrower also agrees to deliver whenever requested by the Agent in good faith, favorable opinions (in each case, together addition to those required to be delivered under Article VI and pursuant to the foregoing sentence) from legal counsel acceptable to the Agent in good faith with tax affidavits or other documents or instruments as may be necessary or, in the reasonable opinion of Xxxxxx, desirable for the due recordation or filing of the additional Mortgages and (B) all respect to any Collateral Property confirming that such Collateral Property is subject to Security Documents deemed necessary by Xxxxxx to grantsecuring Obligations that constitute and create legal, confirmvalid and duly perfected Liens in such properties and interests and the proceeds thereof, and perfect first and prior liens and security interests covering such other matters as the Agent may request in all of LEI’s personal property, including cash, accounts, receivables, inventory, contract rights, and general intangiblesgood faith.

Agreement to Deliver Security Documents. i. Deliver promptly (a) (a) The Borrower will, and will cause each other Obligor to, deliver within thirty (30) days (or such later date as agreed to by the Administrative Agent) to further secure the Obligations whenever requested by Xxxxxx the Administrative Agent in good faith, Guaranty and Collateral Agreements or joinders thereto, Mortgages, Security Agreementssecurity agreements, financing statements, continuation statements, extension agreements, extensions agreements and other similar agreements or instruments (in addition to those required to be delivered under Section 5Article V) in form and substance reasonably satisfactory to Xxxxxx the Administrative Agent in good faith for the purpose of granting, confirming, confirming and perfecting first and prior (other than with respect to Liens permitted pursuant to Section 8(e)7.2.3) liens or security interests in any property that is at that such time (i) Collateral Property or that was intended to be Collateral Property pursuant to any Loan Document previously executed and not then released by Xxxxxx; providedthe Administrative Agent, however, that LEI or (ii) Capital Stock or other ownership interests in each Material Subsidiary (other than Unrestricted Subsidiaries) of the Borrower. The Obligors shall at all times maintain in effect in favor of Xxxxxx (A) all the Administrative Agent such Mortgages deemed as are necessary by Xxxxxx to grant, confirm, confirm and perfect first and prior (other than with respect to Liens permitted pursuant to Section 8(e)7.2.3) liens or security interests in at least 80% of the present value of the Proved Reserves set forth in the most recent Reserve Report (whether developed or undeveloped); ) and further provided, however, that in the event that the Hydrocarbon Interests on which Xxxxxx the Administrative Agent has a first priority perfected Lien (other than with respect to Liens permitted pursuant to Section 8(e)7.2.3) shall constitute less than 80% of the present value of such Proved Reserves (whether developed or undeveloped), LEI the Borrower shall promptly notify Xxxxxx the Administrative Agent and execute or cause to be executed additional Mortgages necessary to increase the such percentage to at least 80%, in each case, together with tax affidavits or other documents or instruments as may be necessary or, in the reasonable opinion of Xxxxxxthe Administrative Agent, desirable for the due recordation or filing of the such additional Mortgages and (B) all Security Documents deemed necessary by Xxxxxx to grant, confirm, and perfect first and prior liens and security interests in all of LEI’s personal property, including cash, accounts, receivables, inventory, contract rights, and general intangibles.Mortgages;