Common use of Guarantees and Security Clause in Contracts

Guarantees and Security. To guarantee the full and punctual payment of the principal, premium and Special Interest, if any, and interest (including post-filing or post-petition interest) on the Notes and all other obligations and liabilities of the Issuers under the Indenture, the Notes, the Registration Rights Agreement and the Security Documents when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Notes and the Indenture, the Subsidiary Guarantors have unconditionally Guaranteed (and future guarantors, together with the Subsidiary Guarantors, will unconditionally Guarantee), jointly and severally, such obligations on a senior secured basis pursuant to the terms of the Indenture. The Notes and the Note Guarantees are secured by first-priority Liens and security interests on the Note Priority Collateral and by second-priority Liens and security interests on the ABL Priority Collateral on the terms and conditions set forth in the Indenture and the Security Documents. The Collateral Agent holds the Collateral in trust for the benefit of the Trustee and the Holders, in each case pursuant to the Security Documents. Each Holder by accepting this Note consents and agrees to the terms of the Security Documents as the same may be in effect or may be amended from time to time in accordance with their terms and the Indenture authorizes and directs the Collateral Agent to enter into the Security Documents and to perform its obligations and exercise its rights thereunder in accordance therewith.

Appears in 1 contract

Samples: Indenture (Northern Tier Energy, Inc.)

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Guarantees and Security. To guarantee the full and punctual payment of the principal, premium and Special Interestpremium, if any, and interest interest, (including post-filing or post-petition interest) on the Notes and all other obligations and liabilities of the Issuers under the Indenture, the Notes, the Registration Rights Agreement Notes and the Security Documents when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Notes and the Indenture, the Subsidiary Guarantors have unconditionally Guaranteed (and future guarantors, together with the Subsidiary Guarantors, will unconditionally Guarantee), jointly and severally, such obligations on , in the case of the Parent Guarantor, a senior unsecured basis, and in the case of the Subsidiary Guarantors, a senior secured basis basis, in each case pursuant to the terms of the Indenture. The Notes and the Note Subsidiary Guarantees are secured by first-priority Liens and security interests on the Note Priority Collateral and by second-priority Liens and security interests on the ABL Priority Collateral on the terms and conditions set forth in the Indenture and the Security Documents. The Collateral Agent holds the Collateral in trust for the benefit of the Trustee and the Holders, in each case pursuant to the Security Documents. Each Holder by accepting this Note consents and agrees to the terms of the Security Documents as the same may be in effect or may be amended from time to time in accordance with their terms and the Indenture authorizes and directs the Collateral Agent to enter into the Security Documents and to perform its obligations and exercise its rights thereunder in accordance therewith.

Appears in 1 contract

Samples: Indenture (Northern Tier Energy LLC)

Guarantees and Security. To guarantee the full and punctual payment of the principal, premium and Special Interest, if any, and interest (including post-filing or post-petition interest) on the Notes and all other obligations and liabilities of the Issuers under the Indenture, the Notes, the Registration Rights Agreement and the Security Documents when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Notes and the Indenture, the Subsidiary Guarantors have unconditionally Guaranteed (and future guarantors, together with the Subsidiary Guarantors, will unconditionally Guarantee), jointly and severally, such obligations on on, in the case of the Parent Guarantor, a senior unsecured basis, and in the case of the Subsidiary Guarantors, a senior secured basis basis, in each case pursuant to the terms of the Indenture. The Notes and the Note Subsidiary Guarantees are secured by first-priority Liens and security interests on the Note Priority Collateral and by second-priority Liens and security interests on the ABL Priority Collateral on the terms and conditions set forth in the Indenture and the Security Documents. The Collateral Agent holds the Collateral in trust for the benefit of the Trustee and the Holders, in each case pursuant to the Security Documents. Each Holder by accepting this Note consents and agrees to the terms of the Security Documents as the same may be in effect or may be amended from time to time in accordance with their terms and the Indenture authorizes and directs the Collateral Agent to enter into the Security Documents and to perform its obligations and exercise its rights thereunder in accordance therewith.

Appears in 1 contract

Samples: Indenture (Northern Tier Energy LLC)

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Guarantees and Security. To guarantee the full and punctual payment of the principal, premium and Special Interestpremium, if any, and interest interest, (including post-filing or post-petition interest) on the Notes and all other obligations and liabilities of the Issuers under the Indenture, the Notes, the Registration Rights Agreement Notes and the Security Documents when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Notes and the Indenture, the Subsidiary Guarantors have unconditionally Guaranteed (and future guarantors, together with the Subsidiary Guarantors, will unconditionally Guarantee), jointly and severally, such obligations on a senior secured basis pursuant to the terms of the Indenture. The Notes and the Note Guarantees are secured by first-priority Liens and security interests on the Note Priority Collateral and by second-priority Liens and security interests on the ABL Priority Collateral on the terms and conditions set forth in the Indenture and the Security Documents. The Collateral Agent holds the Collateral in trust for the benefit of the Trustee and the Holders, in each case pursuant to the Security Documents. Each Holder by accepting this Note consents and agrees to the terms of the Security Documents as the same may be in effect or may be amended from time to time in accordance with their terms and the Indenture authorizes and directs the Collateral Agent to enter into the Security Documents and to perform its obligations and exercise its rights thereunder in accordance therewith.

Appears in 1 contract

Samples: Indenture (Northern Tier Energy, Inc.)

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