Common use of Further Assurances; Delivery of Additional Documents Clause in Contracts

Further Assurances; Delivery of Additional Documents. Until all Obligations are Indefeasibly repaid in full (other than indemnity and reimbursement obligations that survive the termination of this Agreement): (a) Borrower shall, at Borrower’s expense, take all actions and execute all additional documents reasonably requested by Administrative Agent and necessary to (i) effect the creation, perfection, maintenance or continuation of a first-priority Lien in favor of Administrative Agent over all of the Collateral, or (ii) assist Administrative Agent’s exercise of its rights under this Agreement and the other Loan Documents (collectively, “Implementation Documents”). (b) Borrower appoints Administrative Agent and each of its designees as Borrower’s attorney in fact to whenever an Event of Default exists (i) execute, on behalf of Borrower , any Implementation Documents requested by Administrative Agent, and (ii) endorse for deposit into the Project Account any checks or other negotiable instruments payable to Borrower and that come into the possession of Administrative Agent. This appointment is coupled with an interest and is irrevocable. (c) In exercising the appointment described in Section 7.1(b), neither Administrative Agent nor its designees will be liable to any Person for any act, omission, error in judgment or mistake of law that is not intentional, willful, grossly negligent or in bad faith.

Appears in 2 contracts

Samples: Credit Agreement (Voyager Oil & Gas, Inc.), Credit Agreement (Voyager Oil & Gas, Inc.)

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Further Assurances; Delivery of Additional Documents. Until all Obligations are Indefeasibly repaid in full (other than indemnity and reimbursement obligations that survive the termination of this AgreementAgreement and for which no claim has been asserted): (a) Borrower shall, at Borrower’s expense, take all actions and execute all additional documents reasonably requested by Administrative Agent and necessary to (i) effect the creation, perfection, maintenance or continuation of a first-priority Lien in favor of Administrative Agent over all of the Collateral, or (ii) assist Administrative Agent’s exercise of its rights under this Agreement and the other Loan Documents (collectively, “Implementation Documents”). (b) Borrower appoints Administrative Agent and each of its designees as Borrower’s attorney in fact to whenever an Event of Default exists (i) execute, on behalf of Borrower Borrower, any Implementation Documents requested by Administrative Agent, and (ii) endorse for deposit into the Project Payment Account any checks or other negotiable instruments payable to Borrower and that come into the possession of Administrative Agent. This appointment is coupled with an interest and is irrevocable. (c) In exercising the appointment described in Section 7.1(b), neither Administrative Agent nor its designees will be liable to any Person for any act, omission, error in judgment or mistake of law that is not intentional, willful, willful or grossly negligent or in bad faithnegligent.

Appears in 1 contract

Samples: Credit Agreement (American Standard Energy Corp.)

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Further Assurances; Delivery of Additional Documents. Until all Obligations are Indefeasibly repaid in full (other than indemnity and reimbursement obligations that survive the termination of this Agreement): (a) Borrower shall, at Borrower’s expense, take all actions and execute all additional documents reasonably requested by Administrative Agent and necessary to (i) effect the creation, perfection, maintenance or continuation of a first-priority Lien in favor of Administrative Agent over all of the Collateral, or (ii) assist Administrative Agent’s exercise of its rights under this Agreement and the other Loan Documents (collectively, “Implementation Documents”). (b) Borrower appoints Administrative Agent and each of its designees as Borrower’s attorney in fact to whenever an Event of Default exists (i) execute, on behalf of Borrower , any Implementation Documents requested by Administrative Agent, and (ii) endorse for deposit into the Project Account any checks or other negotiable instruments payable to Borrower and that come into the possession of Administrative Agent. This appointment is coupled with an interest and is irrevocable. (c) In exercising the appointment described in Section 7.1(b), neither Administrative Agent nor its designees will be liable to any Person for any act, omission, error in judgment or mistake of law that is not intentional, willful, willful or grossly negligent or in bad faithnegligent.

Appears in 1 contract

Samples: Credit Agreement (American Standard Energy Corp.)

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