Common use of Best Interests Clause in Contracts

Best Interests. It is in the best interests of each Grantor (other than the Company) to execute this Security Agreement inasmuch as such Grantor will, as a result of being a Subsidiary of the Company, derive substantial direct and indirect benefits from the Credit Extensions made from time to time to the Borrowers by the Lenders pursuant to the Credit Agreement and the execution and delivery of the Secured Treasury Management Agreements and Secured Swap Agreements among the Loan Parties and certain Secured Parties, and each Grantor agrees that the Secured Parties are relying on this representation in agreeing to make such Credit Extensions pursuant to the Credit Agreement to the Borrowers.

Appears in 3 contracts

Samples: Pledge and Security Agreement (GENTHERM Inc), Pledge and Security Agreement (GENTHERM Inc), Pledge and Security Agreement (GENTHERM Inc)

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Best Interests. It is in the best interests of each Grantor (other than the CompanyBorrower) to execute this Security Agreement inasmuch in as much as such Grantor will, as a result of being a an Affiliate or Subsidiary of the CompanyBorrower, derive substantial direct and indirect benefits from the Credit Extensions Loans and other extensions of credit made from time to time to one or both of the Borrowers Borrower by the Lenders and the Issuing Lender pursuant to the Credit Agreement and the execution and delivery of the Secured Treasury Management Agreements and Secured Swap Agreements among the Loan Parties and certain Secured PartiesAgreement, and each Grantor agrees that the Secured Parties are relying on this representation in agreeing to make such Credit Extensions Loans and other extensions of credit pursuant to the Credit Agreement to the BorrowersBorrower.

Appears in 3 contracts

Samples: Pledge and Security Agreement (Flotek Industries Inc/Cn/), Credit Agreement (Flotek Industries Inc/Cn/), Pledge and Security Agreement (Flotek Industries Inc/Cn/)

Best Interests. It is in the best interests of each Grantor (other than the CompanyBorrower) to execute this Security Agreement inasmuch as such Grantor will, as a result of being a Subsidiary of the CompanyBorrower, derive substantial direct and indirect benefits from the Credit Extensions made from time to time to the Borrowers Borrower by the Lenders pursuant to the Credit Agreement and the execution and delivery of the Secured Treasury Management Lender Hedging Agreements and Secured Swap Agreements among other Loan Documents between the Loan Parties Borrower and certain Secured Parties, and each Grantor agrees that the Secured Parties are relying on this representation in agreeing to make such Credit Extensions Loans and other extensions of credit pursuant to the Credit Agreement to the BorrowersBorrower.

Appears in 1 contract

Samples: Credit Agreement (Hecla Mining Co/De/)

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Best Interests. It is in the best interests of each Grantor (other than the Company) that is a Subsidiary of a Borrower to execute this Security Agreement inasmuch as such Grantor will, as a result of being a Subsidiary of the Companya Borrower, derive substantial direct and indirect benefits from the Credit Extensions made from time to time to the Borrowers such Borrower by the Lenders and the Issuers pursuant to the Credit Agreement and the execution and delivery of Rate Protection Agreements between the Secured Treasury Management Agreements and Secured Swap Agreements among the Loan Parties Borrower, other Obligors and certain Secured Parties, and each Grantor agrees that the Secured Parties are relying on this representation in agreeing to make such Credit Extensions pursuant to the Credit Agreement to the Borrowers.

Appears in 1 contract

Samples: Credit Agreement (Sabre Industries, Inc.)

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