Common use of Notes and Secured Indebtedness Clause in Contracts

Notes and Secured Indebtedness. This Mortgage is given to secure the following indebtedness, obligations and liabilities: 3.1.1. The Loan Obligations of the Mortgagor, as evidenced in part by those certain promissory notes (together with all renewals, extensions, and modifications thereof) executed by the Mortgagor and payable to the order of the Lender in the aggregate original principal amount of up to $25,000,000, which notes bear interest as provided therein and contain provisions for payment of attorneys’ fees as therein set forth, and including all obligations and indebtedness of the Mortgagor to the Lender in respect of Hedging Agreements and all Hedging Transactions entered into thereunder, whether now existing or hereafter created; 3.1.2. Any sums advanced as expenses or costs incurred by, or on behalf of, the Mortgagee (or any receiver appointed hereunder) which are made or incurred pursuant to, or permitted by, the terms of this Mortgage or the other Loan Documents, plus interest thereon at the rate herein specified or otherwise agreed upon, from the date of advance or expenditure until reimbursed; and 3.1.3. All other and additional debts, obligations and liabilities of every kind and character of the Mortgagor now or hereafter owed to Agent, regardless of whether such debts, obligations and liabilities are specifically listed and described above or are direct or indirect, primary or secondary, joint, several, or joint and several, fixed or contingent, and whether incurred by the Mortgagor as a maker, endorser, guarantor, surety or otherwise, and regardless of whether such present or future debts, obligations and liabilities may, prior to their acquisition by Agent, be or have been payable to, or be or have been in favor of, some other Person or have been acquired by Agent in a transaction with one other than the Mortgagor, together with any and all renewals and extensions of such debts, obligations and liabilities, or any part thereof (it being contemplated that Agent may in the future lend additional sums of money to the Mortgagor, from time to time, but shall not be obligated to do so, and that all such additional sums and loans shall be part of the Secured Indebtedness).

Appears in 2 contracts

Samples: Mortgage, Security Agreement, Fixture Filing and Financing Statement (Lilis Energy, Inc.), Mortgage, Security Agreement, Fixture Filing and Financing Statement (Lilis Energy, Inc.)

AutoNDA by SimpleDocs

Notes and Secured Indebtedness. This Mortgage is given to secure the following indebtedness, obligations and liabilities: 3.1.1. The Loan Obligations of the MortgagorObligations, as evidenced in part by those certain promissory note or notes (together with all renewals, extensions, and modifications thereofthereof and notes given in substitution therefor) executed by the Mortgagor Borrower and payable to the order of the Lender IBTX, in the aggregate original principal amount of up to $25,000,000100,000,000, which notes bear interest as provided therein and contain provisions for payment of attorneys’ fees as therein set forth, and including all obligations and indebtedness of the Mortgagor to the Lender in respect of Hedging Agreements and all Hedging Transactions entered into thereunder, whether now existing or hereafter created; 3.1.2. Any sums advanced as expenses or costs incurred by, or on behalf of, the Mortgagee (or any receiver appointed hereunder) which are made or incurred pursuant to, or permitted by, the terms of this Mortgage or the other Loan DocumentsPapers, plus interest thereon at the rate herein specified or otherwise agreed upon, from the date of advance or expenditure until reimbursed; and 3.1.3. All other and additional debts, obligations and liabilities of every kind and character of the Mortgagor now or hereafter owed to AgentMortgagee, regardless of whether such debts, obligations and liabilities are specifically listed and described above or are direct or indirect, primary or secondary, joint, several, or joint and several, fixed or contingent, and whether incurred by the Mortgagor as a maker, endorser, guarantor, surety or otherwise, and regardless of whether such present or future debts, obligations and liabilities may, prior to their acquisition by AgentMortgagee, be or have been payable to, or be or have been in favor of, some other Person or have been acquired by Agent Mortgagee in a transaction with one other than the Mortgagor, together with any and all renewals and extensions of such debts, obligations and liabilities, or any part thereof (it being contemplated that Agent Mortgagee may in the future lend additional sums of money to the Mortgagor, from time to time, but shall not be obligated to do so, and that all such additional sums and loans shall be part of the Secured Indebtedness). 3.1.4. With respect to liens on Mortgaged Property in the states of Alabama, Colorado, Kansas, Louisiana, Montana, New Mexico and North Dakota, the maximum amount of all future advances and other amounts outstanding at any time and from time to time secured hereby shall not in the aggregate exceed $200,000,000.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Fixture Filing and Financing Statement (Lilis Energy, Inc.)

Notes and Secured Indebtedness. This Mortgage is given to secure the following indebtedness, obligations and liabilities: 3.1.1. The Loan Obligations of the MortgagorObligations, as evidenced in part by those certain promissory note or notes (together with all renewals, extensions, and modifications thereofthereof and notes given in substitution therefor) executed by the Mortgagor Borrower and payable to the order of the Lender IBTX in the aggregate original principal amount of up to $25,000,000100,000,000, which notes bear interest as provided therein and contain provisions for payment of attorneys’ fees as therein set forth, and including all obligations and indebtedness of the Mortgagor to the Lender in respect of Hedging Agreements and all Hedging Transactions entered into thereunder, whether now existing or hereafter created; 3.1.2. Any sums advanced as expenses or costs incurred by, or on behalf of, the Mortgagee (or any receiver appointed hereunder) which are made or incurred pursuant to, or permitted by, the terms of this Mortgage or the other Loan DocumentsPapers, plus interest thereon at the rate herein specified or otherwise agreed upon, from the date of advance or expenditure until reimbursed; and 3.1.3. All other and additional debts, obligations and liabilities of every kind and character of the Mortgagor now or hereafter owed to AgentIBTX, regardless of whether such debts, obligations and liabilities are specifically listed and described above or are direct or indirect, primary or secondary, joint, several, or joint and several, fixed or contingent, and whether incurred by the Mortgagor as a maker, endorser, guarantor, surety or otherwise, and regardless of whether such present or future debts, obligations and liabilities may, prior to their acquisition by AgentIBTX, be or have been payable to, or be or have been in favor of, some other Person or have been acquired by Agent IBTX in a transaction with one other than the Mortgagor, together with any and all renewals and extensions of such debts, obligations and liabilities, or any part thereof (it being contemplated that Agent IBTX may in the future lend additional sums of money to the Mortgagor, from time to time, but shall not be obligated to do so, and that all such additional sums and loans shall be part of the Secured Indebtedness).

Appears in 1 contract

Samples: Mortgage, Security Agreement, Assignment of Production, Fixture Filing and Financing Statement (Lilis Energy, Inc.)

AutoNDA by SimpleDocs

Notes and Secured Indebtedness. This Mortgage is given to secure the following indebtedness, obligations and liabilities: 3.1.1. The Loan Obligations of the MortgagorObligations, as evidenced in part by those certain promissory notes (together with all renewals, extensions, and modifications thereof) executed by the Mortgagor Borrower and payable to the order of the Lender in the aggregate original principal amount of up to $25,000,000100,000,000.00, which notes bear interest as provided therein and contain provisions for payment of attorneys’ fees as therein set forth, and including all obligations and indebtedness of the Mortgagor to the Lender in respect of Hedging Agreements and all Hedging Transactions entered into thereunder, whether now existing or hereafter created; 3.1.2. The Swap Obligations, including, without limitation, the indebtedness and obligations of the Borrower to each Swap Counterparty with respect to Acceptable Commodity Hedging Transactions for so long as a Hedge Intercreditor Agreement is in effect and such Swap Counterparty is party thereto and entitled to the benefits conferred thereby; 3.1.3. Any sums advanced as expenses or costs incurred by, or on behalf of, the Mortgagee (or any receiver appointed hereunder) which are made or incurred pursuant to, or permitted by, the terms of this Mortgage or the other Loan DocumentsPapers, plus interest thereon at the rate herein specified or otherwise agreed upon, from the date of advance or expenditure until reimbursed; and 3.1.33.1.4. All other and additional debts, obligations and liabilities of every kind and character of the Mortgagor now or hereafter owed to AgentINB, regardless of whether such debts, obligations and liabilities are specifically listed and described above or are direct or indirect, primary or secondary, joint, several, or joint and several, fixed or contingent, and whether incurred by the Mortgagor as a maker, endorser, guarantor, surety or otherwise, and regardless of whether such present or future debts, obligations and liabilities may, prior to their acquisition by AgentINB, be or have been payable to, or be or have been in favor of, some other Person or have been acquired by Agent INB in a transaction with one other than the Mortgagor, together with any and all renewals and extensions of such debts, obligations and liabilities, or any part thereof (it being contemplated that Agent INB may in the future lend additional sums of money to the Mortgagor, from time to time, but shall not be obligated to do so, and that all such additional sums and loans shall be part of the Secured Indebtedness).

Appears in 1 contract

Samples: Mortgage, Security Agreement, Assignment of Production, Fixture Filing and Financing Statement (Starboard Resources, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!