Loss and Priority of Security. except for Permitted Encumbrances, if any of the Security shall cease to be a valid first priority Security Interest against the property, assets and undertaking of the Borrower or any Material Subsidiary as against third parties (and the same is not forthwith effectively rectified or replaced by the Borrower or such Material Subsidiary, as applicable);
Appears in 3 contracts
Samples: Credit Agreement (Greenfire Resources Ltd.), Credit Agreement (Obsidian Energy Ltd.), Credit Agreement (Obsidian Energy Ltd.)
Loss and Priority of Security. except for Permitted Encumbrances, if any of the Security shall cease to be a valid first priority Security Interest against the property, assets and undertaking of the any Borrower or any Material Subsidiary Guarantor as against third parties (and the same is not forthwith effectively rectified or replaced by the a Borrower or such Material SubsidiaryGuarantor, as applicable);
Appears in 2 contracts
Samples: Credit Agreement (Baytex Energy Corp.), Credit Agreement (Baytex Energy Corp.)
Loss and Priority of Security. except for Permitted Encumbrances, if any of the Security shall cease to be a valid first priority Security Interest against the property, assets and undertaking of the Borrower or any Material Subsidiary as against third parties (and the same is not forthwith effectively rectified or replaced by the Borrower or such Material Subsidiary, as applicableupon becoming aware thereof);
Appears in 2 contracts
Samples: Credit Agreement (Powell Industries Inc), Credit Agreement (Powell Industries Inc)
Loss and Priority of Security. except for Permitted Encumbrances, if any of the Security shall cease to be a valid first priority Security Interest against the property, assets and undertaking of the Borrower or any Material Subsidiary as against third parties (and the same is not forthwith effectively rectified or replaced by the Borrower or such Material Subsidiary, as applicable)) after the earlier of the Borrower obtaining actual knowledge of the same and receiving notice thereof from the Agent;
Appears in 2 contracts
Samples: Credit Agreement (Hammerhead Energy Inc.), Credit Agreement (Hammerhead Energy Inc.)
Loss and Priority of Security. except for Permitted Encumbrances, if any of the Security shall cease to be a valid first priority Security Interest against the property, assets and undertaking of the Borrower or any Material Subsidiary as against third parties (and the same is not forthwith effectively rectified or replaced by the Borrower or such Material Subsidiary, as applicableupon becoming aware thereof);
Appears in 2 contracts
Samples: Credit Agreement (Pacific Energy Partners Lp), Credit Agreement (Trident Resources Corp)
Loss and Priority of Security. except for Permitted Encumbrances, if any of the Security shall cease to be a valid first priority Security Interest against the property, assets and undertaking of the either Borrower or any Material Subsidiary Guarantor as against third parties (and the same is not forthwith effectively rectified or replaced by the a Borrower or such Material SubsidiaryGuarantor, as applicable);
Appears in 1 contract
Loss and Priority of Security. except for Permitted Encumbrances, if any of the Security shall cease to be a valid first priority Security Interest against the property, assets and undertaking of the any Borrower or any Material Subsidiary Guarantor as against third parties (and the same is not forthwith effectively rectified or replaced by the a Borrower or such Material SubsidiaryGuarantor, as applicable);; 107
Appears in 1 contract
Samples: Agreement (Baytex Energy Corp.)
Loss and Priority of Security. except for Permitted Encumbrances, if any of the Security shall cease to be a valid first priority Security Interest against the property, assets and undertaking of the Borrower Parent or any Material Subsidiary as against third parties (and the same is not forthwith effectively rectified or replaced by the Borrower Parent or such Material Subsidiary, as applicable);
Appears in 1 contract
