Amendment and Restatement; Confirmation of Liens. This Security Agreement is an amendment and restatement of the Existing Security Agreement and supersedes the Existing Security Agreement in its entirety; provided, however, that (i) the execution and delivery of this Security Agreement shall not effect a novation of the Existing Security Agreement but shall be, to the fullest extent applicable, in modification, renewal, confirmation and extension of the Existing Security Agreement, and (ii) the Liens, security interests and other interests in the collateral as described in the Existing Security Agreement (the “Original Collateral”) granted under the Existing Security Agreement are and shall remain legal, valid, binding and enforceable with regard to such Original Collateral. Each Grantor party to the Existing Security Agreement hereby acknowledges and confirms the continuing existence and effectiveness of such Liens, security interests and other interests in the Original Collateral granted under the Existing Security Agreement, and further agrees that the execution and delivery of this Security Agreement and the other Credit Documents shall not in any way release, diminish, impair, reduce or otherwise affect such Liens, security interests and other interests in the Original Collateral granted under the Existing Security Agreement.
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Samples: Credit Agreement (Holly Energy Partners Lp), Security Agreement (Holly Energy Partners Lp), Credit Agreement (Holly Energy Partners Lp)
Amendment and Restatement; Confirmation of Liens. This Security Agreement is an amendment and restatement of the Existing Security Agreement and supersedes the Existing Security Agreement in its entirety; provided, however, that (i) the execution and delivery of this Security Agreement shall not effect a novation of the Existing Security Agreement but shall be, to the fullest extent applicable, in modification, renewal, confirmation and extension of the such Existing Security Agreement, and (ii) the Liens, security interests and other interests in the collateral as described in the Existing Security Agreement (the “Original Collateral”) granted under the Existing Security Agreement are and shall remain legal, valid, binding and enforceable with regard to such Original Collateral. Each Grantor party to the Existing Security Agreement hereby acknowledges and confirms the continuing existence and effectiveness of such Liens, security interests and other interests in the Original Collateral granted under the Existing Security Agreement, and further agrees that the execution and delivery of this Security Agreement and the other Credit Loan Documents shall not in any way release, diminish, impair, reduce or otherwise affect such Liens, security interests and other interests in the Original Collateral granted under the Existing Security Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Cano Petroleum, Inc), Security Agreement (Cano Petroleum, Inc)
Amendment and Restatement; Confirmation of Liens. This Security Agreement is an amendment and restatement of the Existing Second Amended and Restated Security Agreement and supersedes the Existing Second Amended and Restated Security Agreement in its entirety; provided, however, that (i) the execution and delivery of this Security Agreement shall not effect a novation of the Existing Second Amended and Restated Security Agreement but shall be, to the fullest extent applicable, in modification, renewal, confirmation and extension of the Existing Second Amended and Restated Security Agreement, and (ii) the Liens, security interests and other interests in the collateral as described in the Existing Second Amended and Restated Security Agreement (the “Original Collateral”) granted under the Existing Second Amended and Security Agreement are and shall remain legal, valid, binding and enforceable with regard to such Original Collateral. Each Grantor party to the Existing Second Amended and Restated Security Agreement hereby acknowledges and confirms the continuing existence and effectiveness of such Liens, security interests and other interests in the Original Collateral granted under the Existing Second Amended and Restated Security Agreement, and further agrees that the execution and delivery of this Security Agreement and the other Credit Documents shall not in any way release, diminish, impair, reduce or otherwise affect such Liens, security interests and other interests in the Original Collateral granted under the Existing Second Amended and Restated Security Agreement.
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Amendment and Restatement; Confirmation of Liens. This Security Agreement is an amendment and restatement of the Existing Security Agreement Agreements and supersedes the Existing Security Agreement Agreements in its their entirety; provided, however, that (i) the execution and delivery of this Security Agreement shall not effect a novation of the Existing Security Agreement Agreements but shall be, to the fullest extent applicable, in modification, renewal, confirmation and extension of the such Existing Security AgreementAgreements, and (ii) the Liens, security interests and other interests in the collateral as described in the Existing Security Agreement Agreements (the “Original Collateral”) granted under the Existing Security Agreement Agreements are and shall remain legal, valid, binding and enforceable with regard to such Original Collateral. Each Grantor party to the Existing Security Agreement Agreements hereby acknowledges and confirms the continuing existence and effectiveness of such Liens, security interests and other interests in the Original Collateral granted under the Existing Security AgreementAgreements, and further agrees that the execution and delivery of this Security Agreement and Agreement, the other Credit Loan Documents and any Hedge Contracts with Swap Counterparties shall not in any way release, diminish, impair, reduce or otherwise affect such Liens, security interests and other interests in the Original Collateral granted under the Existing Security AgreementAgreements.
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Amendment and Restatement; Confirmation of Liens. This Security Agreement is an amendment and restatement of the Existing Security Agreement and supersedes the Existing Security Agreement in its entirety; provided, however, that (i) the execution and delivery of this Security Agreement shall not effect a novation of the Existing Security Agreement but shall be, to the fullest extent applicable, in a modification, renewal, confirmation and extension of the such Existing Security Agreement, and (ii) the Liens, security interests and other interests in the collateral as described in the Existing Security Agreement (the “Original Collateral”) granted under the Existing Security Agreement are and shall remain legal, valid, binding and enforceable with regard to such Original Collateral. Each Grantor party to the Existing Security Agreement hereby acknowledges and confirms the continuing existence and effectiveness of such Liens, security interests and other interests in the Original Collateral granted under the Existing Security Agreement, and further agrees that the execution and delivery of this Security Agreement and the other Credit Documents shall not in any way release, diminish, impair, reduce or otherwise affect such Liens, security interests and other interests in the Original Collateral granted under the Existing Security Agreement.
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