NEW SHARE CHARGE. 12.1 As consideration for Lender agreeing to provide the Loan to the Borrower, OPCO agrees to provide the New Share Charge as security for the Secured Obligations. 12.2 The Lender undertakes to procure the release of OPCO from its obligations under the New Share Charge as and when all amounts outstanding under the Finance Documents have been repaid.
Appears in 5 contracts
Samples: Contribution, Purchase and Sale Agreement, Contribution, Purchase and Sale Agreement, Contribution, Purchase and Sale Agreement (Seadrill Partners LLC)
NEW SHARE CHARGE. 12.1 As consideration for Lender agreeing to provide the Loan to the BorrowerRestructuring, OPCO agrees to provide the New Share Charge as security for the Secured Obligations.
12.2 The Lender undertakes to procure the release of OPCO from its obligations under the New Share Charge as and when all amounts outstanding under the Finance Documents have been repaid.
Appears in 3 contracts
Samples: Contribution, Purchase and Sale Agreement, Contribution, Purchase and Sale Agreement, Contribution, Purchase and Sale Agreement (Seadrill Partners LLC)
NEW SHARE CHARGE. 12.1 As consideration for Lender agreeing to provide (i) the Loan to the BorrowerBorrower and (i) the OPCO Loan to OPCO, OPCO agrees to provide the New Share Charge as security for the Secured Obligations.
12.2 The Lender undertakes to procure the release of OPCO from its obligations under the New Share Charge as and when all amounts outstanding under the Finance Documents have been repaid.
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement (Seadrill Partners LLC)
NEW SHARE CHARGE. 12.1 (a) As consideration for Lender agreeing to provide the Loan to the Borrower, OPCO agrees to provide the New Share Charge as security for the Secured Obligations.
12.2 (b) The Lender undertakes to procure the release of OPCO from its obligations under the New Share Charge as and when all amounts outstanding under the Finance Documents have been repaid.
Appears in 1 contract
Samples: Contribution, Purchase and Sale Agreement (Seadrill Partners LLC)
