Credit Support Agreements. The following Sections are hereby added to Annex A to the Confirmation:
Credit Support Agreements. Section 3.20 of the Company Disclosure Letter lists, as of the date of this Agreement, all credit support instruments, including standby and commercial letters of credit issued under the Amended and Restated Credit Agreement or any other letter of credit facility, surety bonds and cash security deposits, and the amounts, underlying issuer of the instrument, beneficiaries and expiration dates thereof. Except as set forth in Section 3.20 of the Company Disclosure Letter, there are no other credit support instruments issued on behalf of the Company or its Subsidiaries as of the date of this Agreement.
Credit Support Agreements. During the Term LNGCo shall cause its Credit Support Provider to provide, on a timely basis, credit support reasonably acceptable to the counterparty for each LNG Opportunity which has been accepted by LNGCo. ARTICLE V SERVICES FEES AND PAYMENT TERMS 5.1
Credit Support Agreements. (a) Upon the terms and subject to the conditions set forth in the this Agreement, the Warrants, and the registration rights agreement in the form attached hereto as Exhibit B (the "Registration Rights Agreement") (the "Documents"), the Guarantors shall, for the benefit of the Company, arrange for the issuance by one or more institutions acceptable to the Bank of standby letters of credit or, in the alternative, pledge such Guarantors' right, title and interest in and to certificates of deposit (each a "Guarantor Commitment") in the aggregate amount of $2,500,000 naming the Bank as beneficiary or pledgee, as the case may be, thereunder. The maximum Guarantor Commitment of each of the Guarantors shall be as follows: (i) Pappajohn - $1,250,000; (ii) Geraxx X. Xxxxx - $500,000; Iowa Farm Bureau Federation - $250,000; Deraxx Xxxxxxxx - $250,000; Mattxxx X. Xxxxxx - $100,000; Dominion Securities Inc. - $100,000; Michxxx X. Xxxxxxxx - $25,000 and Josexx Xxxxxx - $25,000. Each Guarantor's Commitment as a proportion of the maximum amount of the loans (the "Loans") available under the Facility ($2,500,000.00) shall be its "Pro Rata Share." In addition, if necessary, Pappajohn shall execute a personal guaranty (the "Pappajohn Guaranty") of the Company's obligations to the Bank in an amount agreed to by Pappajohn and the Bank.
(b) The obligation of the Guarantors to provide the Credit Support Agreements shall be subject to the following conditions precedent:
(i) the Company's execution and delivery of this Agreement and the Documents;
(ii) the Company's execution and delivery to the Bank of (A) a security agreement, in form satisfactory to the Agent, which includes provision for security agreements in favor of the Bank by each subsidiary of the Company (the "Bank Security Agreement"); (B) a pledge agreement, in form satisfactory to the Agent (the "Pledge Agreement"); (C) a conditional assignment of intellectual property covering trademarks, in form satisfactory to the Agent (the "Bank Intellectual Property Assignment," and, together with Bank Security Agreement, Pledge Agreement and all documents executed in connection therewith, the "Bank Security Documents"); (D) the Credit Agreement dated December 3, 1999, between the Company and the Bank (the "Credit Agreement"); and (E) the Promissory Note dated December 3, 1999, executed by the Company in favor of the Bank (the "Promissory Note").
(iii) the Company's payment to the Agent of the Agent's costs and expenses incurre...
Credit Support Agreements. The following Section is hereby added to the Confirmation:
Credit Support Agreements. Section 3.27 of the Company Disclosure Schedule lists, as of the date of this Agreement, all of the Company’s credit support agreements, including standby and commercial letters of credit, surety bonds and cash security deposits, and the amounts, underlying issuer of the instrument, beneficiaries and expiration dates thereof. Except as set forth in Section 3.27 of the Company Disclosure Schedule, there are no other credit support instruments issued on behalf of the Company or any of the Company Subsidiaries as of the date of this Agreement.
Credit Support Agreements. PDC shall have received releases or other terminations with effect as of the Closing Date, in form and substance reasonably satisfactory to PDC, of all of its and its Affiliates’ obligations under the Credit Support Agreements.
Credit Support Agreements. Schedule 4.24 contains a true and correct list of all bonds, guaranties, letters of credit, cash collateral and other similar credit support instruments maintained by the Royal Entities with any Governmental Authority or other third party with respect to the Royal Entities’ Assets.
Credit Support Agreements. (a) There is no material alleged, pending, liquidated, due or accrued Loss with respect to any Credit Support Agreement.
(b) To the Knowledge of the Company, no event or condition exists that, with the passage of time, the giving of notice, or both, would reasonably be expected to give rise to any material alleged, pending, liquidated, due or accrued Loss with respect to any Credit Support Agreement, and neither the Company nor its Subsidiaries has received any written notice of such events or conditions.
Credit Support Agreements
