Maintenance of Minimum Net Worth. Indemnitor covenants and agrees with Indemnitee that it shall maintain at all times a net worth (determined without regard to Indemnitor’s limited partner interest in Borrower) of no less than the maximum amount of any Lender Claim for which Indemnitee could seek indemnification pursuant to Section 2.1 hereof should an event described in Section 1.1 hereof occur; provided that the amount of such potential Lender Claim shall be determined without regard to any assets of the Borrower that could be used to satisfy such potential Lender Claim.
Appears in 8 contracts
Samples: Contribution Agreement and Agreement and Plan of Merger (Anadarko Petroleum Corp), Contribution Agreement and Agreement and Plan of Merger (Western Gas Partners LP), Indemnification Agreement (Western Midstream Partners, LP)
Maintenance of Minimum Net Worth. Indemnitor covenants and agrees with Indemnitee that it shall maintain at all times a net worth (determined without regard to Indemnitor’s limited partner interest in Borrower) of no less than the maximum amount of any Lender Claim for which Indemnitee could seek indemnification pursuant to Section 2.1 hereof should an event described in Section 1.1 hereof occur; provided that the amount of such potential Lender Claim shall be determined without regard to any assets clause (y) of the Borrower that could be used to satisfy such potential Lender ClaimSection 1.1 hereof.
Appears in 1 contract
Samples: Indemnification Agreement (Western Gas Partners LP)
