Common use of Cross Default and Cross Collateralization Clause in Contracts

Cross Default and Cross Collateralization. It is the express intention and agreement of Borrower and Bank that any and all existing and future obligations, liabilities and indebtedness now or hereafter owing by Borrower to Bank (including the Revolver Note, and Letter of Credit Exposure and any Hedge Agreement) be and continuously remain cross-defaulted and cross-collateralized to the fullest extent permitted by applicable law with any and all other existing or future obligations, liabilities and indebtedness of Borrower to Bank or of Borrower to the Swap Counterparty.

Appears in 2 contracts

Samples: Senior Revolver Loan Agreement (Empire Petroleum Corp), Revolver Loan Agreement (Viking Energy Group, Inc.)

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Cross Default and Cross Collateralization. It is the express intention and agreement of Borrower Borrowers and Bank that any and all existing and future obligations, liabilities and indebtedness now or hereafter owing by Borrower Borrowers to Bank (including the Revolver Note, and Letter of Credit Exposure and any Hedge Agreement) be and continuously remain cross-defaulted and cross-collateralized to the fullest extent permitted by applicable law with any and all other existing or future obligations, liabilities and indebtedness of Borrower Borrowers to Bank or of Borrower Borrowers to the Swap Counterparty.

Appears in 2 contracts

Samples: Revolver Loan Agreement, Revolver Loan Agreement (Energy 11, L.P.)

Cross Default and Cross Collateralization. It is the express intention and agreement of Borrower Borrowers and Bank Agent that any and all existing and future obligations, liabilities and indebtedness now or hereafter owing by Borrower Borrowers to Bank Lenders (including the Revolver NoteNotes, and Letter of Credit Exposure and any Hedge Agreement) be and continuously remain cross-defaulted and cross-collateralized to the fullest extent permitted by applicable law with any and all other existing or future obligations, liabilities and indebtedness of Borrower Borrowers to Bank Lenders or of Borrower Borrowers to the Swap Counterparty.

Appears in 2 contracts

Samples: Revolver Loan Agreement (Energy 11, L.P.), Revolver Loan Agreement (Energy Resources 12, L.P.)

Cross Default and Cross Collateralization. It is the express intention and agreement of Borrower Borrowers and Bank that any and all existing and future obligations, liabilities and indebtedness now or hereafter owing by Borrower Borrowers to Bank (including the Revolver Note, and Letter of Credit Exposure and any Hedge AgreementExposure) be and continuously remain cross-defaulted and cross-collateralized to the fullest extent permitted by applicable law with any and all other existing or future obligations, liabilities and indebtedness of Borrower Borrowers to Bank or of Borrower to the Swap CounterpartyBank.

Appears in 1 contract

Samples: Revolver Loan Agreement (Empire Petroleum Corp)

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Cross Default and Cross Collateralization. It is the express intention and agreement of the Borrower and Bank that any and all existing and future obligations, liabilities and indebtedness now or hereafter owing by Borrower to Bank (including the Revolver Note, and Letter of Credit Exposure and any Hedge Agreement) be and continuously remain cross-defaulted and cross-collateralized to the fullest extent permitted by applicable law with any and all other existing or future obligations, liabilities and indebtedness of Borrower to Bank or of Borrower to the Swap Counterparty.

Appears in 1 contract

Samples: Revolver Loan Agreement (Viking Investments Group, Inc.)

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