Grant and Assignment of Security. (a) The Parties acknowledge that: (i) the Royalty Owner shall enter into credit facilities with its lenders (the “RO Lenders”) from time to time pursuant to which the RO Lenders shall provide various forms of credit arrangements and accommodations, most of which shall be for the direct or indirect benefit of the Grantor and some of which (such as commodity price swaps) may be entered into directly with the Grantor (such credit arrangements and accommodations collectively called the “RO Facilities”); (ii) the RO Facilities shall be secured by, inter alia, guarantees and indemnities provided by the Grantor and the Grantor’s obligations thereunder shall be secured by way of security interests (collectively, together with any subordination or postponement agreements entered into by the Grantor with, inter alia, the RO Lenders, called the “Grantor Security Interests”) granted by the Grantor in all of the Grantor’s assets charged by such Security Interests, which may include without limitation the Properties, the Reserve and this Agreement (the “Collateral”); (iii) the terms and conditions of the RO Facilities and the Grantor Security Interests may contain limitations and restrictions upon the Parties with respect to this Agreement, the Collateral and the Royalty including, without limitation, upon the ability of the Parties to amend this Agreement, assign their rights hereunder in whole or in part, dispose of the Properties in whole or in part and the use of the proceeds thereof, and the use of the Reserve; (iv) the actions of the Parties and their relationship pursuant to this Agreement shall be subject to the provisions of the RO Facilities and the Grantor Security Interests, to the extent so provided therein, and to the extent of a conflict between the provisions of this Agreement and the provisions of the RO Facilities or the Grantor Security Interests, the latter shall govern; and (v) to the extent provided for therein, the Grantor Security Interests shall at all times be in priority to and paramount to the Royalty, including for greater certainty the grant of the Royalty in respect of any future Properties. (b) Notwithstanding any other provision of this Agreement: (i) each of the Parties shall be entitled to mortgage, pledge, charge, grant a security interest in, postpone and subordinate their rights respecting or otherwise encumber any of the Collateral to secure any present or future obligation or liability of the Royalty Owner or Grantor in respect of or in relationship to the RO Facilities, or of the Grantor that may arise pursuant to the Credit Facilities or Swap Arrangements, including for greater certainty any guarantees, indemnities or security interests required of the Grantor in connection with the Credit Facilities; (ii) any Lender, or RO Lender, or any receiver, receiver-manager, enforcement agent or any similar Person appointed by an RO Lender or Lender (each a “Secured Party”) enforcing or realizing upon any encumbrance or security interest that was granted by the Grantor in respect of any Collateral or by the Royalty Owner in respect of this Agreement or the Royalty, shall be entitled to sell, assign or otherwise dispose of in whole or in part (A) any such encumbrances or security interests or (B) any of such Collateral;
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Grant and Assignment of Security. (a) The Parties acknowledge that:
(i) the Royalty Owner shall enter into credit facilities with its lenders (the “RO Lenders”) from time to time pursuant to which the RO Lenders shall provide various forms of credit arrangements and accommodations, most of which shall be for the direct or indirect benefit of the Grantor and some of which (such as commodity price swaps) may be entered into directly with the Grantor (such credit arrangements and accommodations collectively called the “RO Facilities”);
(ii) the RO Facilities shall be secured by, inter alia, guarantees and indemnities provided by the Grantor and the Grantor’s obligations thereunder shall be secured by way of security interests (collectively, together with any subordination or postponement agreements entered into by the Grantor with, inter alia, the RO Lenders, called the “Grantor Security Interests”) granted by the Grantor in all of the Grantor’s assets charged by such Security Interests, which may include without limitation the Properties, the Reserve and this Agreement (the “Collateral”);
(iii) the terms and conditions of the RO Facilities and the Grantor Security Interests may contain limitations and restrictions upon the Parties with respect to this Agreement, the Collateral and the Royalty including, without limitation, upon the ability of the Parties to amend this Agreement, assign their rights hereunder in whole or in part, dispose of the Properties in whole or in part and the use of the proceeds thereof, and the use of the Reserve;
(iv) the actions of the Parties and their relationship pursuant to this Agreement shall be subject to the provisions of the RO Facilities and the Grantor Security Interests, to the extent so provided therein, and to the extent of a conflict between the provisions of this Agreement and the provisions of the RO Facilities or the Grantor Security Interests, the latter shall govern; and
(v) to the extent provided for therein, the Grantor Security Interests shall at all times be in priority to and paramount to the Royalty, including for greater certainty the grant of the Royalty in respect of any future Properties.
(b) Notwithstanding any other provision of this Agreement:: Table of Contents
(i) each of the Parties shall be entitled to mortgage, pledge, charge, grant a security interest in, postpone and subordinate their rights respecting or otherwise encumber any of the Collateral to secure any present or future obligation or liability of the Royalty Owner or Grantor in respect of or in relationship to the RO Facilities, or of the Grantor that may arise pursuant to the Credit Facilities or Swap Arrangements, including for greater certainty any guarantees, indemnities or security interests required of the Grantor in connection with the Credit Facilities;
(ii) any Lender, or RO Lender, or any receiver, receiver-manager, enforcement agent or any similar Person appointed by an RO Lender or Lender (each a “Secured Party”) enforcing or realizing upon any encumbrance or security interest that was granted by the Grantor in respect of any Collateral or by the Royalty Owner in respect of this Agreement or the Royalty, shall be entitled to sell, assign or otherwise dispose of in whole or in part (A) any such encumbrances or security interests or (B) any of such Collateral;
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Samples: Royalty Agreement
Grant and Assignment of Security. (a) The Parties acknowledge that:
(i) the Royalty Owner shall enter into credit facilities with its lenders (the “" RO Lenders”Lenders ") from time to time pursuant to which the RO Lenders shall provide various forms of credit arrangements and accommodations, most of which shall be for the direct or indirect benefit of the Grantor and some of which (such as commodity price swaps) may be entered into directly with the Grantor (such credit arrangements and accommodations collectively called the “" RO Facilities”Facilities ");
(ii) the RO Facilities shall be secured by, inter aliaalia , guarantees and indemnities provided by the Grantor and the Grantor’s 's obligations thereunder shall be secured by way of security interests (collectively, together with any subordination or postponement agreements entered into by the Grantor with, inter aliaalia , the RO Lenders, called the “" Grantor Security Interests”Interests ") granted by the Grantor in all of the Grantor’s 's assets charged by such Security Interests, which may include without limitation the Properties, the Reserve and this Agreement (the “Collateral”" Collateral ");
(iii) the terms and conditions of the RO Facilities and the Grantor Security Interests may contain limitations and restrictions upon the Parties with respect to this Agreement, the Collateral and the Royalty including, without limitation, upon the ability of the Parties to amend this Agreement, assign their rights hereunder in whole or in part, dispose of the Properties in whole or in part and the use of the proceeds thereof, and the use of the Reserve;
(iv) the actions of the Parties and their relationship pursuant to this Agreement shall be subject to the provisions of the RO Facilities and the Grantor Security Interests, to the extent so provided therein, and to the extent of a conflict between the provisions of this Agreement and the provisions of the RO Facilities or the Grantor Security Interests, the latter shall govern; and
(v) to the extent provided for therein, the Grantor Security Interests shall at all times be in priority to and paramount to the Royalty, including for greater certainty the grant of the Royalty in respect of any future Properties.
(b) Notwithstanding any other provision of this Agreement:
(i) each of the Parties shall be entitled to mortgage, pledge, charge, grant a security interest in, postpone and subordinate their rights respecting or otherwise encumber any of the Collateral to secure any present or future obligation or liability of the Royalty Owner or Grantor in respect of or in relationship to the RO Facilities, or of the Grantor that may arise pursuant to the Credit Facilities or Swap Arrangements, including for greater certainty any guarantees, indemnities or security interests required of the Grantor in connection with the Credit Facilities;
(ii) any Lender, or RO Lender, or any receiver, receiver-manager, enforcement agent or any similar Person appointed by an RO Lender or Lender (each a “"Secured Party”") enforcing or realizing upon any encumbrance or security interest that was granted by the Grantor in respect of any Collateral or by the Royalty Owner in respect of this Agreement or the Royalty, shall be entitled to sell, assign or otherwise dispose of in whole or in part (A) any such encumbrances or security interests or (B) any of such Collateral;
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Grant and Assignment of Security. (a) The Parties acknowledge that:
(i) the Royalty Owner shall enter into credit facilities with its lenders (the “RO Lenders”) from time to time pursuant to which the RO Lenders shall provide various forms of credit arrangements and accommodations, most of which shall be for the direct or indirect benefit of the Grantor and some of which (such as commodity price swaps) may be entered into directly with the Grantor (such credit arrangements and accommodations collectively called the “RO Facilities”);
(ii) the RO Facilities shall be secured by, inter alia, guarantees and indemnities provided by the Grantor and the Grantor’s obligations thereunder shall be secured by way of security interests (collectively, together with any subordination or postponement agreements entered into by the Grantor with, inter alia, the RO Lenders, called the “Grantor Security Interests”) granted by the Grantor in all of the Grantor’s assets charged by such Security Interests, which may include without limitation the Properties, the Reserve and this Agreement (the “Collateral”);
(iii) the terms and conditions of the RO Facilities and the Grantor Security Interests may contain limitations and restrictions upon the Parties with respect to this Agreement, the Collateral and the Royalty including, without limitation, upon the ability of the Parties to amend this Agreement, assign their rights hereunder in whole or in part, dispose of the Properties in whole or in part and the use of the proceeds thereof, and the use of the Reserve;
(iv) the actions of the Parties and their relationship pursuant to this Agreement shall be subject to the provisions of the RO Facilities and the Grantor Security Interests, to the extent so provided therein, and to the extent of a conflict between the provisions of this Agreement and the provisions of the RO Facilities or the Grantor Security Interests, the latter shall govern; and
(v) to the extent provided for therein, the Grantor Security Interests shall at all times be in priority to and paramount to the Royalty, including for greater certainty the grant of the Royalty in respect of any future Properties.
(b) Notwithstanding any other provision of this Agreement:
(i) each of the Parties shall be entitled to mortgage, pledge, charge, grant a security interest in, postpone and subordinate their rights respecting or otherwise encumber any of the Collateral to secure any present or future obligation or liability of the Royalty Owner or Grantor in respect of or in relationship to the RO Facilities, or of the Grantor that may arise pursuant to the Credit Facilities or Swap Arrangements, including for greater certainty any guarantees, indemnities or security interests required of the Grantor in connection with the Credit Facilities;
(ii) any Lender, or RO Lender, or any receiver, receiver-manager, enforcement agent or any similar Person appointed by an RO Lender or Lender (each a “Secured Party”) enforcing or realizing upon any encumbrance or security interest that was granted by the Grantor in respect of any Collateral or by the Royalty Owner in respect of this Agreement or the Royalty, shall be entitled to sell, assign or otherwise dispose of in whole or in part (A) any such encumbrances or security interests or (B) any of such Collateral;
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