Common use of Cross Default and Cross Collateralization Clause in Contracts

Cross Default and Cross Collateralization. It is the express intention and agreement of Borrowers and Agent that any and all existing and future obligations, liabilities and indebtedness now or hereafter owing by Borrowers to Lenders (including the Revolver Notes, 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 Borrowers to Lenders or of 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.)

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Cross Default and Cross Collateralization. It is the express intention and agreement of Borrowers Borrower and Agent Bank that any and all existing and future obligations, liabilities and indebtedness now or hereafter owing by Borrowers Borrower to Lenders Bank (including the Revolver NotesNote, 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 Borrowers Borrower to Lenders Bank or of Borrowers Borrower to the Swap Counterparty.

Appears in 2 contracts

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

Cross Default and Cross Collateralization. It is the express intention and agreement of Borrowers and Agent Bank that any and all existing and future obligations, liabilities and indebtedness now or hereafter owing by Borrowers to Lenders Bank (including the Revolver NotesNote, 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 Borrowers to Lenders Bank or of Borrowers to the Swap Counterparty.. 3.4

Appears in 1 contract

Samples: Loan Agreement

Cross Default and Cross Collateralization. It is the express intention and agreement of Borrowers the Borrower and Agent Bank that any and all existing and future obligations, liabilities and indebtedness now or hereafter owing by Borrowers Borrower to Lenders Bank (including the Revolver NotesNote, 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 Borrowers Borrower to Lenders Bank or of Borrowers Borrower to the Swap Counterparty.

Appears in 1 contract

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

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Cross Default and Cross Collateralization. It is the express intention and agreement of Borrowers and Agent Bank that any and all existing and future obligations, liabilities and indebtedness now or hereafter owing by Borrowers to Lenders Bank (including the Revolver NotesNote, 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 Borrowers to Lenders or of Borrowers to the Swap CounterpartyBank.

Appears in 1 contract

Samples: Revolver Loan Agreement (Empire Petroleum Corp)

Cross Default and Cross Collateralization. It is the express intention and agreement of Borrowers and Agent Bank that any and all existing and future obligations, liabilities and indebtedness now or hereafter owing by Borrowers to Lenders Bank (including the Revolver NotesNote, 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 Borrowers to Lenders Bank or of Borrowers to the Swap Counterparty.

Appears in 1 contract

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

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