Ratification of Master Agreement. Except as expressly modified and superseded by this Agreement, the terms and provisions of the Master Agreement hereby are ratified and confirmed and shall continue in full force and effect. Meridian and FEMT agree that the Master Agreement shall continue to be legal, valid, binding, and enforceable in accordance with its terms. Meridian and each Guarantor further expressly acknowledges and agrees that FEMT and FCC have a valid, non-avoidable, enforceable, and perfected security interest in and lien against each item of collateral described in the Master Agreement, and that such security interest and lien secures the payment obligations (if any) and the performance of all other obligations of Meridian under the Master Agreement.
Appears in 4 contracts
Samples: Forbearance Agreement (Meridian Resource Corp), Forbearance Agreement (Meridian Resource Corp), Forbearance Agreement (Meridian Resource Corp)
