Material Adverse Claims. The Borrower will, and will cause each other Borrower Group Member to, except for Permitted Encumbrances, do all things necessary to defend, protect and maintain its property and the Security (and the priority thereof), from all material adverse claims where the failure to do so would reasonably be expected to have a Material Adverse Effect.
Appears in 2 contracts
Samples: Credit Agreement (Obsidian Energy Ltd.), Credit Agreement (Obsidian Energy Ltd.)
Material Adverse Claims. The Borrower will, and will cause each other Borrower Group Member Loan Party to, except for Permitted Encumbrances, do all things necessary to defend, protect and maintain its property and the Security (and the priority thereof), from all material adverse claims where the failure to do so would in the opinion of the Lenders, acting reasonably, threatens the intended priority or validity of the Security as herein provided, or could reasonably be expected to have a Material Adverse Effect.
Appears in 2 contracts
Samples: Credit Agreement, Credit Agreement
Material Adverse Claims. The Borrower will, and will cause each other Borrower Group Member Loan Party to, except for Permitted Encumbrances, do all things necessary to defend, defend and protect and maintain its their property and the Security (and the priority thereof), from all material adverse claims claims, and to maintain their property free therefrom except for Permitted Encumbrances, where the failure to do so (i) in the opinion of the Agent and/or the Collateral Agent, acting reasonably, threatens the actual or intended priority or validity of Security Documents and the Security Interests created therein, as provided herein, in the Security Documents and in the Intercreditor Agreement, or (ii) has or would reasonably be expected to have a Material Adverse Effect.
Appears in 1 contract
Material Adverse Claims. The Borrower will, and will cause each other Borrower Group Member Loan Party to, except for Permitted Encumbrances, do all things necessary to defend, protect and maintain its property and the Security (and the priority thereof), from all material adverse claims where the failure to do so in the opinion of the Lenders, acting reasonably, threatens the intended priority or validity of the Security as herein provided, or would reasonably be expected to have a Material Adverse Effect.
Appears in 1 contract
Material Adverse Claims. The Borrower will, and will cause each other Borrower Group Member to, except for Permitted Encumbrances, Loan Party to do all things necessary to defend, protect and maintain its property and the Security (and the priority thereof), ) from all material adverse claims claims, including where the failure to do so in the opinion of the Lenders, acting reasonably, threatens the intended priority or validity of the Security as herein provided, or would reasonably be expected to have a Material Adverse Effect.
Appears in 1 contract
Samples: Credit Agreement