General perfection. (a) Each Grantor must take, at its own expense, promptly, and in any event within any applicable time limit whatever action is necessary or reasonably requested by the ABL Loan Collateral Agent or any other First Lien Secured Party to ensure that this Security is as of the date hereof, and will continue to be until the Discharge of First Lien Obligations, a validly created, attached, enforceable and perfected first-priority (subject to Permitted Security) continuing security interest in the Collateral in favor of the First Lien Secured Parties, in all relevant jurisdictions, securing payment and performance of the First Lien Obligations and in each case, to protect this Security, to enable the ABL Loan Collateral Agent to exercise and enforce its rights, powers and remedies under this Agreement with respect to any of the Collateral and to facilitate the assignment or transfer of any rights and/or obligations of the ABL Loan Collateral Agent or the applicable First Lien Secured Parties under this Agreement. The Grantors will pay, jointly and severally any applicable filing fees, recordation taxes and related expenses relating to the Collateral. (b) Without limiting the generality of the foregoing, this includes the giving of any notice, order or direction, the making of any filing or registration, the passing of any resolution and the execution and delivery of any documents or agreements which are necessary or the ABL Loan Collateral Agent reasonably deems desirable and the taking of any of the actions described in the following provisions of this Section 3 (Perfection and Further Assurances).
Appears in 1 contract
Samples: Abl Loan First Lien Security Agreement (Par Petroleum Corp/Co)
General perfection. (a) Each Grantor must take, at its own expense, promptly, and in any event within any applicable time limit whatever action is necessary or reasonably requested by the ABL Loan Collateral Agent or any other First Second Lien Secured Party to ensure that this Security is as of the date hereof, and will continue to be until the Discharge of First Second Lien Obligations, a validly created, attached, enforceable and perfected firstsecond-priority (subject to Permitted Security) continuing security interest in the Collateral in favor of the First Second Lien Secured Parties, in all relevant jurisdictions, securing payment and performance of the First Second Lien Obligations and in each case, to protect this Security, to enable the ABL Loan Collateral Agent to exercise and enforce its rights, powers and remedies under this Agreement with respect to any of the Collateral and to facilitate the assignment or transfer of any rights and/or obligations of the ABL Loan Collateral Agent or the applicable First Second Lien Secured Parties under this Agreement. The Grantors will pay, jointly and severally any applicable filing fees, recordation taxes and related expenses relating to the Collateral.
(b) Without limiting the generality of the foregoing, this includes the giving of any notice, order or direction, the making of any filing or registration, the passing of any resolution and the execution and delivery of any documents or agreements which are necessary or the ABL Loan Collateral Agent reasonably deems desirable and the taking of any of the actions described in the following provisions of this Section 3 (Perfection and Further Assurances).
Appears in 1 contract
Samples: Inventory Second Lien Security Agreement (Par Petroleum Corp/Co)
General perfection. (a) Each Grantor The Pledgor must take, at its own expense, promptly, and in any event within any applicable time limit whatever action is necessary or reasonably requested by the ABL Loan Inventory Collateral Agent or any other First Lien Secured Party to ensure that this Security is as of the date hereof, and will continue to be until the Discharge of First Lien Obligations, a validly created, attached, enforceable and perfected first-priority (subject to Permitted Security) continuing security interest in the Collateral in favor of the First Lien Secured Parties, in all relevant jurisdictions, securing payment and performance of the First Lien Obligations and in each case, to protect this Security, to enable the ABL Loan Inventory Collateral Agent to exercise and enforce its rights, powers and remedies under this Agreement with respect to any of the Collateral and to facilitate the assignment or transfer of any rights and/or obligations of the ABL Loan Inventory Collateral Agent or the applicable First Lien Secured Parties under this Agreement. The Grantors Pledgor will pay, jointly and severally pay any applicable filing fees, recordation taxes and related expenses relating to the Collateral.
(b) Without limiting the generality of the foregoing, this includes the giving of any notice, order or direction, the making of any filing or registration, the passing of any resolution and the execution and delivery of any documents or agreements which are necessary or the ABL Loan Inventory Collateral Agent reasonably deems desirable and the taking of any of the actions described in the following provisions of this Section 3 (Perfection and Further Assurances).
Appears in 1 contract
Samples: Membership Interests First Lien Pledge Agreement (Par Petroleum Corp/Co)
General perfection. (a) Each Grantor must take, at its own expense, promptly, and in any event within any applicable time limit whatever action is necessary or reasonably requested by the ABL Loan Inventory Collateral Agent or any other First Second Lien Secured Party to ensure that this Security is as of the date hereof, and will continue to be until the Discharge of First Second Lien Obligations, a validly created, attached, enforceable and perfected firstsecond-priority (subject to Permitted Security) continuing security interest in the Collateral in favor of the First Second Lien Secured Parties, in all relevant jurisdictions, securing payment and performance of the First Second Lien Obligations and in each case, to protect this Security, to enable the ABL Loan Inventory Collateral Agent to exercise and enforce its rights, powers and remedies under this Agreement with respect to any of the Collateral and to facilitate the assignment or transfer of any rights and/or obligations of the ABL Loan Inventory Collateral Agent or the applicable First Second Lien Secured Parties under this Agreement. The Grantors will pay, jointly and severally any applicable filing fees, recordation taxes and related expenses relating to the Collateral.
(b) Without limiting the generality of the foregoing, this includes the giving of any notice, order or direction, the making of any filing or registration, the passing of any resolution and the execution and delivery of any documents or agreements which are necessary or the ABL Loan Inventory Collateral Agent reasonably deems desirable and the taking of any of the actions described in the following provisions of this Section 3 (Perfection and Further Assurances).
Appears in 1 contract
Samples: Abl Loan Second Lien Security Agreement (Par Petroleum Corp/Co)
General perfection. (a) Each Grantor The Pledgor must take, at its own expense, promptly, and in any event within any applicable time limit whatever action is necessary or reasonably requested by the ABL Loan Collateral Agent or any other First Second Lien Secured Party to ensure that this Security is as of the date hereof, and will continue to be until the Discharge of First Second Lien Obligations, a validly created, attached, enforceable and perfected firstsecond-priority (subject to Permitted Security) continuing security interest in the Collateral in favor of the First Second Lien Secured Parties, in all relevant jurisdictions, securing payment and performance of the First Second Lien Obligations and in each case, to protect this Security, to enable the ABL Loan Collateral Agent to exercise and enforce its rights, powers and remedies under this Agreement with respect to any of the Collateral and to facilitate the assignment or transfer of any rights and/or obligations of the ABL Loan Collateral Agent or the applicable First Second Lien Secured Parties under this Agreement. The Grantors Pledgor will pay, jointly and severally pay any applicable filing fees, recordation taxes and related expenses relating to the Collateral.
(b) Without limiting the generality of the foregoing, this includes the giving of any notice, order or direction, the making of any filing or registration, the passing of any resolution and the execution and delivery of any documents or agreements which are necessary or the ABL Loan Collateral Agent reasonably deems desirable and the taking of any of the actions described in the following provisions of this Section 3 (Perfection and Further Assurances).
Appears in 1 contract
Samples: Membership Interests Second Lien Pledge Agreement (Par Petroleum Corp/Co)
General perfection. (a) Each Grantor must take, at its own expense, promptly, and in any event within any applicable time limit whatever action is necessary or reasonably requested by the ABL Loan Inventory Collateral Agent or any other First Lien Secured Party to ensure that this Security is as of the date hereof, and will continue to be until the Discharge of First Lien Obligations, a validly created, attached, enforceable and perfected first-priority (subject to Permitted Security) continuing security interest in the Collateral in favor of the First Lien Secured Parties, in all relevant jurisdictions, securing payment and performance of the First Lien Obligations and in each case, to protect this Security, to enable the ABL Loan Inventory Collateral Agent to exercise and enforce its rights, powers and remedies under this Agreement with respect to any of the Collateral and to facilitate the assignment or transfer of any rights and/or obligations of the ABL Loan Inventory Collateral Agent or the applicable First Lien Secured Parties under this Agreement. The Grantors will pay, jointly and severally any applicable filing fees, recordation taxes and related expenses relating to the Collateral.
(b) Without limiting the generality of the foregoing, this includes the giving of any notice, order or direction, the making of any filing or registration, the passing of any resolution and the execution and delivery of any documents or agreements which are necessary or the ABL Loan Inventory Collateral Agent reasonably deems desirable and the taking of any of the actions described in the following provisions of this Section 3 (Perfection and Further Assurances).
Appears in 1 contract
Samples: Inventory First Lien Security Agreement (Par Petroleum Corp/Co)