Common use of Reaffirmation and Grant of Security Interest Clause in Contracts

Reaffirmation and Grant of Security Interest. (a) Each Credit Party has (i) guarantied the Obligations and (ii) created Liens in favor of Lenders on certain Collateral to secure its obligations hereunder, under the Guarantee and the Canadian Guarantee, as the case may be. Each Credit Party hereby acknowledges that it has reviewed the terms and provisions of this Agreement and consents to the amendment and restatement of the Existing Credit Agreement effected pursuant to this Agreement. Each Credit Party hereby (i) confirms that each Credit Document to which it is a party or is otherwise bound and all Collateral encumbered thereby will continue to guarantee or secure, as the case may be, to the fullest extent possible in accordance with the Credit Documents, the payment and performance of the Obligations and all Guarantee Obligations, as the case may be, including without limitation the payment and performance of all such Obligations and all Guarantee Obligations which are joint and several obligations of each grantor now or hereafter existing, and (ii) grants to the Administrative Agent for the benefit of the Secured Parties a continuing lien on and security interest in and to such Credit Party’s right, title and interest in, to and under all Collateral as collateral security for the prompt payment and performance in full when due of the Obligations and all Guarantee Obligations (whether at stated maturity, by acceleration or otherwise). (b) Each Credit Party acknowledges and agrees that any of the Credit Documents to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of the amendment and restatement of the Existing Credit Agreement. Each Credit Party represents and warrants that all representations and warranties contained in the Credit Documents to which it is a party or otherwise bound are true, correct and complete in all material respects on and as of the Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier date.

Appears in 5 contracts

Samples: Credit Agreement (Sealy Corp), Credit Agreement (Sealy Corp), Credit Agreement (Sealy Mattress CORP)

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Reaffirmation and Grant of Security Interest. (a) Each Credit Party has (i) guarantied the Obligations and (ii) created Liens in favor of Lenders on certain Collateral to secure its obligations hereunder, under Section 7 of the Guarantee and the Canadian Guarantee, as the case may beExisting Credit Agreement. Each Credit Party hereby acknowledges that it has reviewed the terms and provisions of this Agreement and consents to the amendment and restatement of the Existing Credit Agreement effected pursuant to this Agreement. Each Credit Party hereby (i) confirms that each Credit Document to which it is a party or is otherwise bound and all Collateral encumbered thereby will continue to guarantee or secure, as the case may be, to the fullest extent possible in accordance with the Credit Documents, the payment and performance of all Guaranteed Obligations under this Agreement and the Secured Obligations (as such term is defined in the Pledge and all Guarantee ObligationsSecurity Agreement) under the Pledge and Security Agreement, as the case may be, including without limitation the payment and performance of all such Guaranteed Obligations under this Agreement and all Guarantee the Secured Obligations which are under the Pledge and Security Agreement joint and several obligations of each grantor now or hereafter existing, and (ii) grants to the Administrative Collateral Agent for the benefit of the Secured Parties (as such term is defined in the Pledge and Security Agreement) a continuing lien on and security interest in and to such Credit Party’s 's right, title and interest in, to and under all Collateral as collateral security for the prompt payment and performance in full when due of the Guaranteed Obligations under this Agreement and all Guarantee the Secured Obligations under the Pledge and Security Agreement (whether at stated maturity, by acceleration or otherwise). (b) Each Credit Party acknowledges and agrees that any of the Credit Documents to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of the amendment and restatement of the Existing Credit Agreement. Each Credit Party represents and warrants that all representations and warranties contained in the Credit Documents to which it is a party or otherwise bound are true, correct and complete in all material respects on and as of the Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier date.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Vca Antech Inc), Credit and Guaranty Agreement (Vca Antech Inc)

Reaffirmation and Grant of Security Interest. (a) Each Credit Party has (i) guarantied the Obligations and (ii) created Liens in favor of Lenders on certain Collateral to secure its obligations hereunder, under Section 7 of the Guarantee and the Canadian Guarantee, as the case may beExisting Credit Agreement. Each Credit Party hereby acknowledges that it has reviewed the terms and provisions of this Agreement and consents to the amendment and restatement of the Existing Credit Agreement effected pursuant to this Agreement. Each Credit Party hereby (i) confirms that each Credit Document to which it is a party or is otherwise bound and all Collateral encumbered thereby thereby, including, without limitation, “Closing Date Mortgaged Properties” (as defined in the Existing Credit Agreement) will continue to guarantee or secure, as the case may be, to the fullest extent possible in accordance with the Credit Documents, the payment and performance of all Guaranteed Obligations under this Agreement and the Secured Obligations (as such term is defined in the Pledge and all Guarantee ObligationsSecurity Agreement) under the Pledge and Security Agreement, as the case may be, including without limitation the payment and performance of all such Guaranteed Obligations under this Agreement and all Guarantee the Secured Obligations which are under the Pledge and Security Agreement joint and several obligations of each grantor now or hereafter existing, and (ii) grants to the Administrative Collateral Agent for the benefit of the Secured Parties (as such term is defined in the Pledge and Security Agreement) a continuing lien on and security interest in and to such Credit Party’s right, title and interest in, to and under all Collateral as collateral security for the prompt payment and performance in full when due of the Guaranteed Obligations under this Agreement and all Guarantee the Secured Obligations under the Pledge and Security Agreement (whether at stated maturity, by acceleration or otherwise). (b) Each Credit Party acknowledges and agrees that any of the Credit Documents to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of the amendment and restatement of the Existing Credit Agreement. Each Credit Party represents and warrants that all representations and warranties contained in the Credit Documents to which it is a party or otherwise bound are true, correct and complete in all material respects on and as of the Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier date.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (American Reprographics CO)

Reaffirmation and Grant of Security Interest. (a) Each Credit Party has (i) guarantied the Obligations and (ii) created Liens in favor of Lenders on certain Collateral to secure its obligations hereunder, under Section 7 of the Guarantee and the Canadian Guarantee, as the case may beExisting Credit Agreement. Each Credit Party hereby acknowledges that it has reviewed the terms and provisions of this Agreement and consents to the amendment and restatement of the Existing Credit Agreement effected pursuant to this Agreement. Each Credit Party hereby (i) confirms that each Credit Document to which it is a party or is otherwise bound and all Collateral encumbered thereby thereby, including, without limitation, “Closing Date Mortgaged Properties” (as defined in the Existing Credit Agreement) will continue to guarantee or secure, as the case may be, to the fullest extent possible in accordance with the Credit Documents, the payment and performance of all Guaranteed Obligations under this Agreement and the Secured Obligations (as such term is defined in the Pledge and all Guarantee ObligationsSecurity Agreement) under the Pledge and Security Agreement, as the case may be, including without limitation the payment and performance of all such Guaranteed Obligations under this Agreement and all Guarantee the Secured Obligations which are under the Pledge and Security Agreement joint and several obligations of each grantor now or hereafter existing, and (ii) grants to the Administrative Collateral Agent for the benefit of the Secured Parties (as such term is defined in the Pledge and Security Agreement) a continuing lien on and security interest in and to such Credit Party’s right, title and interest in, to and under all Collateral as collateral security for the prompt payment and performance in full when due of the Guaranteed Obligations under this Agreement and all Guarantee the Secured Obligations under the Pledge and Security Agreement (whether at stated maturity, by acceleration or otherwise). (b) Each Credit Party acknowledges and agrees that any of the Credit Documents to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of the amendment and restatement of the Existing Credit Agreement. Each Credit Party represents and warrants that all representations and warranties contained in the Credit Documents to which it is a party or otherwise bound are true, correct and complete in all material respects on and as of the Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties A&R FIRST LIEN CREDIT AND GUARANTY AGREEMENT specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier date.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (American Reprographics CO)

Reaffirmation and Grant of Security Interest. (a) Each Credit Party has (i) guarantied the Obligations and (ii) created Liens in favor of Lenders on certain Collateral to secure its obligations hereunder, under the Guarantee and the Canadian Guarantee, as the case may be. Each Credit Party hereby acknowledges that it has reviewed the terms and provisions of this Agreement and consents to the amendment and restatement of the Existing Credit Agreement effected pursuant to this Agreement. Each Credit Party hereby (ia) confirms that each Security Instrument (as defined in the Original Credit Document Agreement) to which it is a party or is otherwise bound and and, except as otherwise provided in Section 11.18, all Collateral encumbered thereby thereby, will continue to guarantee or secure, as the case may be, to the fullest extent possible in accordance with the Credit Loan Documents, the payment and performance of the all Obligations and Guaranteed Liabilities under this Agreement and the Secured Indebtedness (as such term is defined in the Mortgages) and all Guarantee Obligationsother indebtedness, obligations and liabilities under the Mortgages, as the case may be, including without limitation the payment and performance of all such Obligations and all Guarantee Obligations which are joint and several obligations of each grantor now or hereafter existing, and (iib) grants except as otherwise provided in Section 11.18, reaffirms its grant to the Administrative Agent for the benefit of the Secured Parties of a continuing lien Lien on and security interest in and to such Credit Party’s right, title and interest in, to and under all Collateral as collateral security for the prompt payment and performance in full when due of the Obligations and Guaranteed Liabilities under this Agreement and the Secured Indebtedness and all Guarantee Obligations other indebtedness, obligations and liabilities under the Mortgages (whether at stated maturity, by acceleration or otherwise). ) in accordance with the terms thereof. With respect to any other Loan Documents, (a) the defined term “Bank One” shall be deemed to mean JPMorgan Chase Bank, N.A., (b) Each the defined term “Agent” shall be deemed to mean JPMorgan Chase Bank, N.A., in its capacity as Administrative Agent and (c) the defined term “Rate Management Transaction” shall be deemed to mean indebtedness, liabilities and obligations of any Credit Party acknowledges and agrees that any of the Credit Documents with respect to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of the amendment and restatement of the Existing Credit Agreement. Each transactions under Swap Agreements between such Credit Party represents and warrants any Lender Counterparty that all representations and warranties contained are included in the Credit Documents to which it is a party or otherwise bound are true, correct and complete in all material respects on and as of the Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier datedefined term “Lender Hedging Obligations” under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Range Resources Corp)

Reaffirmation and Grant of Security Interest. (a) Each Credit Party has (i) guarantied the Obligations and (ii) created Liens in favor of Lenders on certain Collateral to secure its obligations hereunder, under Section 7 of the Guarantee and the Canadian Guarantee, as the case may beCredit Agreement. Each Credit Party hereby acknowledges that it has reviewed the terms and provisions of this Agreement and consents to the amendment and restatement of the Existing Credit Agreement effected pursuant to this Agreement. Each Credit Party hereby (i) confirms that each Credit Document to which it is a party or is otherwise bound and all Collateral encumbered thereby will continue to guarantee or secure, as the case may be, to the fullest extent possible in accordance with the Credit Documents, the payment and performance of all Guaranteed Obligations under this Agreement and the Secured Obligations (as such term is defined in the Pledge and all Guarantee ObligationsSecurity Agreement) under the Pledge and Security Agreement, as the case may be, including without limitation the payment and performance of all such Guaranteed Obligations under this Agreement and all Guarantee the Secured Obligations which are under the Pledge and Security Agreement joint and several obligations of each grantor now or hereafter existing, and (ii) grants to the Administrative Collateral Agent for the benefit of the Secured Parties (as such term is defined in the Pledge and Security Agreement) a continuing lien on and security interest in and to such Credit Party’s right, title and interest in, to and under all Collateral as collateral security for the prompt payment and performance in full when due of the Guaranteed Obligations under this Agreement and all Guarantee the Secured Obligations under the Pledge and Security Agreement (whether at stated maturity, by acceleration or otherwise). (b) Each Credit Party acknowledges and agrees that any of the Credit Documents to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of the amendment and restatement of the Existing Credit Agreement. Each Credit Party represents and warrants that all representations and warranties contained in the Credit Documents to which it is a party or otherwise bound are true, correct and complete in all material respects on and as of the Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier date.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Ipc Acquisition Corp)

Reaffirmation and Grant of Security Interest. Each Credit Party confirms and agrees that the guaranties, security interests and Xxxxx granted to the Agent under the Original Credit Agreement, the Pledge Agreement and the other Security Documents continue in full force and effect, and all Collateral remains free and clear of any Liens, other than Permitted Liens. Nothing herein is intended to impair or limit the validity, priority or extent of the Agent’s security interests in and Liens on the Collateral. Without limiting any of the foregoing and in furtherance thereof, (a) Each Credit Party has (i) guarantied the Obligations and (ii) created Liens in favor of Lenders on certain Collateral to secure its obligations hereunder, under the Guarantee and the Canadian Guarantee, as the case may be. Each Credit Party hereby acknowledges that it has reviewed the terms and provisions of this Agreement and consents to the amendment and restatement of the Existing Credit Agreement effected pursuant to this Agreement. Each Credit Party hereby (i) confirms that each Credit Document to which it is a party or is otherwise bound and all Collateral encumbered thereby will continue to guarantee or secure, as the case may be, to the fullest extent possible in accordance with the Credit Documents, security for the payment and performance of the Obligations (after giving effect to this Agreement), each Credit Party hereby assigns, grants and all Guarantee Obligationspledges to Agent, as for the case may beratable benefit of itself and Lenders, including without limitation the payment a continuing Lien on and performance of all such Obligations and all Guarantee Obligations which are joint and several obligations of each grantor now or hereafter existingsecurity interest in, upon, and to the property set forth on Annex B to the Credit Agreement, attached hereto and made a part hereof, subject to and in accordance with the terms of the Credit Agreement and (iib) each Credit Party hereby pledges, assigns and grants to the Administrative Agent Agent, for the benefit of itself and the Secured Parties Lenders, as security for the Obligations (after giving effect to this Agreement), a continuing lien on and security interest in and to such Credit Party’s rightthe Pledged Collateral (as defined in the Pledge Agreement), title and interest in, subject to and under all Collateral as collateral security for in accordance with the prompt payment and performance in full when due terms of the Obligations and all Guarantee Obligations (whether at stated maturity, by acceleration or otherwise). (b) Each Credit Party acknowledges and agrees that any of the Credit Documents to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of the amendment and restatement of the Existing Credit Pledge Agreement. Each Credit Party represents hereby authorizes Agent to file UCC-1 financing statements against such Credit Party covering the Collateral of such Credit Party in such jurisdictions as Agent shall deem necessary to perfect the liens and warrants that all representations security interests granted to Agent hereunder, and warranties contained such financing statements may describe the collateral in the same manner as described in the Credit Documents to which it is a party Agreement or otherwise bound are true, correct and complete in as “all material respects on and as assets of the Effective Date to the same extent as though made on and as of that dateDebtor, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier datewhether now existing or hereafter acquired” or words with similar effect.

Appears in 1 contract

Samples: Credit, Security and Guaranty Agreement (Alphatec Holdings, Inc.)

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Reaffirmation and Grant of Security Interest. (a) Each Credit Party has (i) guarantied the Obligations and (ii) created Liens in favor of Lenders on certain Collateral to secure its obligations hereunder, under Section 7 of the Guarantee and the Canadian Guarantee, as the case may beExisting Credit Agreement. Each Credit Party hereby acknowledges that it has reviewed the terms and provisions of this Agreement and consents to the amendment and restatement of the Existing Credit Agreement effected pursuant to this Agreement. Each Credit Party hereby (i) confirms that each Credit Document to which it is a party or is otherwise bound and all Collateral encumbered thereby will continue to guarantee or secure, as the case may be, to the fullest extent possible in accordance with the Credit Documents, the payment and performance of all Guaranteed Obligations under this Agreement and the Secured Obligations (as such term is defined in the Pledge and all Guarantee ObligationsSecurity Agreement) under the Pledge and Security Agreement, as the case may be, including without limitation the payment and performance of all such Guaranteed Obligations under this Agreement and all Guarantee the Secured Obligations under the Pledge and Security Agreement which are joint and several obligations of each grantor now or hereafter existing, and (ii) grants to the Administrative Collateral Agent for the benefit of the Secured Parties a continuing lien Lien on and security interest in and to such Credit Party’s right, title and interest in, to and under all Collateral as collateral security for the prompt payment and performance in full when due of the Guaranteed Obligations under this Agreement and all Guarantee the Secured Obligations under the Pledge and Security Agreement (whether at stated maturity, by acceleration or otherwise). (b) Each Credit Party acknowledges and agrees that any of the Credit Documents to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of the amendment and restatement of the Existing Credit Agreement. Each Credit Party represents and warrants that all representations and warranties contained in the Credit Documents to which it is a party or otherwise bound are true, correct and complete in all material respects on and as of the Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier date.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Simmons Co)

Reaffirmation and Grant of Security Interest. (a) Each Credit Party has of the Borrower, each Guarantor and each Grantor, subject to the terms and limits contained herein and in the First Lien Security Documents reaffirms (i) guarantied its guaranty of the Obligations Guaranteed Obligations, on the terms set forth in the Existing Guarantee and Collateral Agreement, as amended and restated by this Agreement, and nothing in this Agreement shall be deemed to supersede, impair or otherwise limit the guaranty by such Guarantor contained in the Existing Guarantee and Collateral Agreement, and (ii) created Liens in the case of each Grantor, its grant of a security interest in favor of Lenders Collateral Agent on certain the Collateral to secure its obligations hereunderObligations, under on the terms set forth in the Existing Guarantee and the Canadian GuaranteeCollateral Agreement, as amended and restated by this Agreement, and nothing in this Agreement shall be deemed to supersede, impair or otherwise limit the case may beassignment, transfer and grant by such Grantor contained in the Existing Guarantee and Collateral Agreement. Each Credit Party of the Borrower, each Guarantor and each Grantor hereby acknowledges that it has reviewed the terms and provisions of this Agreement and consents to the amendment and restatement of the Existing Credit Guarantee and Collateral Agreement effected pursuant to this Agreement. Each Credit Party of the Borrower, each Guarantor and each Grantor hereby (i) confirms that each Credit First Lien Security Document to which it is a party or is otherwise bound continues to be in full force and effect, and all Collateral encumbered thereby will continue to guarantee or secure, as the case may be, to the fullest extent possible in accordance with the Credit First Lien Documents, the payment and performance of the Guaranteed Obligations and all Guarantee the Obligations, as the case may be, including without limitation the payment and performance of all such Obligations and all Guarantee Obligations which are joint and several obligations of each grantor now or hereafter existingapplicable, and (ii) grants to the Administrative Agent for the benefit of the Secured Parties a continuing lien on and security interest in and to such Credit Party’s right, title and interest in, to and under all Collateral as collateral security for the prompt payment and performance in full when due of the Obligations and all Guarantee Obligations (whether at stated maturity, by acceleration or otherwise). (b) Each Credit Party acknowledges and agrees that any of the Credit Documents to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of the amendment and restatement of the Existing Credit Guarantee and Collateral Agreement. Each Credit Party represents and warrants that all representations and warranties contained in the Credit Documents to which it is a party or otherwise bound are true, correct and complete in all material respects on and as of the Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier date.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Calpine Corp)

Reaffirmation and Grant of Security Interest. (a) Each Credit Party has (i) guarantied the Obligations and (ii) created Liens in favor of Lenders on certain Collateral to secure its obligations hereunder, under Section 7 of the Guarantee and the Canadian Guarantee, as the case may beExisting Credit Agreement. Each Credit Party hereby acknowledges that it has reviewed the terms and provisions of this Agreement and consents to the amendment and restatement of the Existing Credit Agreement effected pursuant to this Agreement. Each Credit Party hereby (i) confirms that each Credit Document to which it is a party or is otherwise bound and all Collateral encumbered thereby will continue to guarantee or secure, as the case may be, to the fullest extent possible in accordance with the Credit Documents, the payment and performance of all Guaranteed Obligations under this Agreement and the Secured Obligations (as such term is defined in the Pledge and all Guarantee ObligationsSecurity Agreement) under the Pledge and Security Agreement, as the case may be, including without limitation the payment and performance of all such Guaranteed Obligations under this Agreement and all Guarantee the Secured Obligations under the Pledge and Security Agreement which are joint and several obligations of each grantor now or hereafter existing, and (ii) grants to the Administrative Collateral Agent for the benefit of the Secured Parties a continuing lien Lien on and security interest in and to such Credit Party’s 's right, title and interest in, to and under all Collateral as collateral security for the prompt payment and performance in full when due of the Guaranteed Obligations under this Agreement and all Guarantee the Secured Obligations under the Pledge and Security Agreement (whether at stated maturity, by acceleration or otherwise). (b) Each Credit Party acknowledges and agrees that any of the Credit Documents to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of the amendment and restatement of the Existing Credit Agreement. Each Credit Party represents and warrants that all representations and warranties contained in the Credit Documents to which it is a party or otherwise bound are true, correct and complete in all material respects on and as of the Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier 130 date, in which case they were true, correct and complete in all material respects on and as of such earlier date.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Simmons Bedding Co)

Reaffirmation and Grant of Security Interest. (a) Each Credit Party has (i) guarantied the Obligations and (ii) created Liens in favor of Lenders on certain Collateral to secure its obligations hereunder, under the Guarantee and the Canadian Guarantee, as the case may be. Each Credit Party hereby acknowledges that it has reviewed the terms and provisions of this Agreement and consents to the amendment and restatement of the Existing Credit Agreement effected pursuant to this Agreement. Each Credit Party hereby (i) confirms that each Security Document (as defined in the Original Credit Document Agreement) and each Security Instrument to which it is a party or is otherwise bound and all Collateral collateral encumbered thereby (the "Collateral") will continue to guarantee or secure, as the case may be, to the fullest extent possible in accordance with the Credit Loan Documents, the payment and performance of the all Obligations and all Guarantee ObligationsGuaranteed Liabilities under this Agreement and the Secured Obligations (as such term is defined in the Security Agreements) under the Security Agreements, as the case may be, including without limitation the payment and performance of all such Obligations and all Guarantee Guaranteed Liabilities under this Agreement and the Secured Obligations which are joint and several obligations of each grantor now or hereafter existingunder the Security Agreement, and (ii) grants to the Administrative Agent for the benefit of the Secured Parties a continuing lien Lien on and security interest in and to such Credit Party’s 's right, title and interest in, to and under all Collateral as collateral security for the prompt payment and performance in full when due of the Obligations and all Guarantee Guaranteed Liabilities under this Agreement and the Secured Obligations under the Security Agreements (whether at stated maturity, by acceleration or otherwise) in accordance with the terms thereof. With respect to the other Loan Documents, (a) the defined term "Bank One" shall be deemed to mean JPMorgan Chase Bank, N.A. (successor by merger to Bank One, N.A. (Illinois). ) and its successors and assigns. (b) Each the defined term "Agent" shall be deemed to mean JPMorgan Chase Bank, N.A. (successor by merger to Bank One, N.A. (Illinois)) and its successors and assigns, in its capacity as Administrative Agent and (c) the defined term "Rate Management Obligations" shall be deemed to mean indebtedness liabilities and obligations of any Credit Party acknowledges and agrees that any of the Credit Documents with respect to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of the amendment and restatement of the Existing Credit Agreement. Each transactions under Swap Agreements between such Credit Party represents and warrants any Lender Counterparty that all representations and warranties contained are included in the Credit Documents to which it is a party or otherwise bound are true, correct and complete in all material respects on and as of the Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier datedefined term "Obligations" under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Petroleum Development Corp)

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