Common use of Guaranty and Pledge Agreement Clause in Contracts

Guaranty and Pledge Agreement. By executing and delivering this Assumption Agreement, the Additional Obligor, as provided in Section 9.12 of the Guaranty and Pledge Agreement, hereby becomes a party to the Guaranty and Pledge Agreement as an Obligor thereunder with the same force and effect as if originally named therein as an Obligor and, without limiting the generality of the foregoing, hereby expressly assumes all obligations and liabilities of an Obligor thereunder and expressly grants to the Administrative Agent, for the benefit of the Guaranteed Creditors, a security interest in all Collateral owned by such Additional Obligor and required to be pledged by it pursuant to the terms of the Credit Agreement to secure all of such Additional Obligor’s obligations and liabilities thereunder. The information set forth in Annex 1-A hereto is hereby added to the information set forth in Schedules 1 through 4 to the Guaranty and Pledge Agreement. The Additional Obligor hereby represents and warrants on the date hereof and solely with respect to such Additional Obligor that each of the representations and warranties contained in Article IV of the Guaranty and Pledge Agreement is true and correct in all material respects on and as the date hereof (after giving effect to this Assumption Agreement) as if made on and as of such date, except to the extent that such representations and warranties relate to an earlier date.

Appears in 3 contracts

Samples: Guaranty and Collateral Agreement (Kodiak Oil & Gas Corp), Guaranty and Collateral Agreement (Whiting Petroleum Corp), Credit Agreement (Whiting Petroleum Corp)

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Guaranty and Pledge Agreement. By executing and delivering this Assumption Agreement, the Additional Obligor, as provided in Section 9.12 9.13 of the Guaranty and Pledge Agreement, hereby becomes a party to the Guaranty and Pledge Agreement as an Obligor thereunder with the same force and effect as if originally named therein as an Obligor and, without limiting the generality of the foregoing, hereby expressly assumes all obligations and liabilities of an Obligor thereunder and expressly grants to the Administrative Agent, for the benefit of the Guaranteed Creditors, a security interest in all Collateral owned by such Additional Obligor and required to be pledged by it pursuant to the terms of the Credit Agreement to secure all of such Additional Obligor’s obligations and liabilities thereunder. The information set forth in Annex 1-A hereto is hereby added to the information set forth in Schedules 1 through 4 to the Guaranty and Pledge Agreement. The Additional Obligor hereby represents and warrants on the date hereof and solely with respect to such Additional Obligor that each of the representations and warranties contained in Article ARTICLE IV of the Guaranty and Pledge Agreement is true and correct in all material respects on and as the date hereof (after giving effect to this Assumption Agreement) as if made on and as of such date, except to the extent that such representations and warranties relate to an earlier date.

Appears in 3 contracts

Samples: Credit Agreement (Oasis Petroleum Inc.), Guaranty and Pledge Agreement (Whittier Energy Corp), Guaranty and Pledge Agreement (Teton Energy Corp)

Guaranty and Pledge Agreement. By executing and delivering this Assumption Agreement, the Additional Obligor, as provided in Section 9.12 9.13 of the Guaranty and Pledge Agreement, hereby becomes a party to the Guaranty and Pledge Agreement as an Obligor thereunder with the same force and effect as if originally named therein as an Obligor and, without limiting the generality of the foregoing, hereby expressly assumes all obligations and liabilities of an Obligor thereunder and expressly grants to the Administrative Agent, for the benefit of the Guaranteed Creditors, a security interest in all Collateral owned by such Additional Obligor and required to be pledged by it pursuant to the terms of the Credit Agreement to secure all of such Additional Obligor’s obligations and liabilities thereunder. The information set forth in Annex 1-A hereto is hereby added to the information set forth in Schedules 1 through 4 to the Guaranty and Pledge Agreement. The Additional Obligor hereby represents and warrants on the date hereof and solely with respect to such Additional Obligor that each of the representations and warranties contained in Article ARTICLE IV of the Guaranty and Pledge Agreement is true and correct in all material respects on and as the date hereof (after giving effect to this Assumption Agreement) as if made on and as of such date, except to the extent that any such representations and warranties relate are expressly limited to an earlier date, in which case, on and as of such specified earlier date.

Appears in 2 contracts

Samples: Guaranty and Pledge Agreement (APEG Energy II, LP), Guaranty and Pledge Agreement (Us Energy Corp)

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Guaranty and Pledge Agreement. By executing and delivering this Assumption Agreement, the Additional ObligorGrantor, as provided in Section 9.12 5.7 of the Guaranty and Pledge Agreement, hereby becomes a party to the Guaranty and Pledge Agreement as an Obligor a “Grantor” thereunder with the same force and effect as if originally named therein as an Obligor a Grantor and, without limiting the generality of the foregoing, hereby (a) expressly assumes all obligations and liabilities of an Obligor thereunder a Grantor thereunder, (b) grants a Lien and expressly grants to Security Interest in all Collateral owned by it in favor of the Administrative Agent, Agent for the benefit of the Guaranteed CreditorsSecured Parties, a security interest in all Collateral owned by such Additional Obligor and required to be pledged by it pursuant to accordance with the terms of the Credit Agreement to secure all Guaranty and Pledge Agreement, and (c) absolutely and unconditionally guarantees the prompt, complete and full payment of the Indebtedness when due, no matter how such Additional Obligor’s obligations shall become due in accordance with the terms of the Guaranty and liabilities thereunderPledge Agreement. The information set forth in Annex 1-A hereto is hereby added to the information set forth in Schedules 1 through 4 the appropriate Exhibits to the Guaranty and Pledge Agreement. The Additional Obligor Grantor hereby represents and warrants on the date hereof and solely with respect to such Additional Obligor that each of the representations and warranties contained in Article IV III of the Guaranty and Pledge Agreement is is, as to itself, true and correct in all material respects on and as the date hereof (after giving effect to this Assumption Agreement) as if made on and as of such date, except to the extent that such representations and warranties relate to an earlier date.

Appears in 2 contracts

Samples: Credit Agreement (Approach Resources Inc), Guaranty and Pledge Agreement (Approach Resources Inc)

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