Common use of Termination; Limited Survival Clause in Contracts

Termination; Limited Survival. In its discretion Company may at any time that no Obligations are owing (other than indemnity obligations and similar obligations that survive the termination of this Agreement for which no notice of a claim has been received by Company and other than Obligations under the Warrants that arise after the Notes have been paid in full) elect in a written notice delivered to Administrative Agent to terminate this Agreement. Upon receipt by Administrative Agent of such a notice, if no such Obligations are then owing this Agreement and all other Note Documents (other than the Warrant) shall thereupon be terminated and the parties thereto released from all prospective obligations thereunder, provided that, notwithstanding the foregoing or anything in any Note Agreement to the contrary, all of the following shall survive any termination of this Agreement or any other Note Document: (a) any waivers or admissions made by any Restricted Person in any Note Document, (b) any obligations that any Person may have to indemnify or compensate any Holder Party, and (c) the provisions of Sections 2.10 and this Section 12.10. At the request and expense of Company, Administrative Agent shall prepare and execute all necessary instruments to reflect and effect such termination of the Note Documents. Administrative Agent is hereby authorized to execute all such instruments on behalf of all Holders, without the joinder of or further action by any Holder. In particular, and without limitation of any other provision of a Note Document, the obligations of the Restricted Persons under the Warrant and under Sections 2.10, 3.4, 3.5, 12.4, 12.8, 12.9 and 12.15 of this Agreement shall survive the termination of this Agreement and the release of the Collateral.

Termination; Limited Survival. In its discretion Company may at any time that no Obligations are owing (other than indemnity obligations and similar obligations that survive the termination of this Agreement for which no notice of a claim has been received by Company and other than Obligations under the ORRI Conveyance or the Warrants that arise after the Notes have been paid in full) elect in a written notice delivered to Administrative Agent to terminate this Agreement. Upon receipt by Administrative Agent of such a notice, if no such Obligations are then owing this Agreement and all other Note Documents (other than the WarrantWarrants) shall thereupon be terminated and the parties thereto released from all prospective obligations thereunder, provided that, notwithstanding the foregoing or anything in any Note Agreement Document to the contrary, all of the following any waivers or admissions made by any Credit Party in any Note Document, any Obligations under Sections 3.4 and 3.5, any obligations which any Person may have to indemnify or compensate any Holder Party shall survive any termination of this Agreement or any other Note Document: (a) any waivers or admissions made by any Restricted Person in any Note Document, (b) any obligations that any Person may have to indemnify or compensate any Holder Party, and (c) the provisions of Sections 2.10 and this Section 12.10. At the request and expense of Company, Administrative Agent shall prepare and execute all necessary instruments to reflect and effect such termination of the Note Documents. Administrative Agent is hereby authorized to execute all such instruments on behalf of all Holders, without the joinder of or further action by any Holder. In particular, and without limitation of any other provision of a Note Document, the obligations of the Restricted Persons Credit Parties under the Warrant ORRI Conveyance, the Warrants, and under Sections 2.10, 3.4, 3.5, 7.22, 12.4, 12.8, 12.9 and 12.15 12.14 of this Agreement shall survive the termination of this Agreement and the release of the CollateralCollateral and, notwithstanding any of the foregoing provisions of this subsection, Administrative Agent shall not release any Collateral until Company has amended the ORRI Conveyance (or, if applicable, provided new ORRI Conveyances) to the extent required under Section 7.22.

Termination; Limited Survival. In its discretion Company may sole and absolute discretion, Borrower may, at any time that no Obligations or other amounts are owing (other than indemnity obligations and similar obligations that survive the termination no Letters of Credit are outstanding, elect to terminate this Agreement for which no notice of a claim has been received by Company and other than Obligations under the Warrants that arise after the Notes have been paid in full) elect in a written notice delivered to Administrative Agent to terminate this AgreementAgent. Upon receipt by Administrative Agent of such a notice, if no such Obligations or other amounts are then owing and no Letters of Credit are outstanding, this Agreement and all other Note Loan Documents (other than the Warrant) shall thereupon be terminated and the parties thereto released from all prospective obligations hereunder or thereunder, provided that, notwithstanding . Notwithstanding the foregoing or anything in any Note Agreement herein to the contrary, all any waivers or admissions made by any Obligor in any Loan Document, any Obligations under Sections 2.16 through 2.20, any obligations which any Obligor may have to indemnify or compensate any Agent, any Issuing Bank, or any Lender in connection with matters arising upon or prior to the termination of this Agreement and any obligations which any Lender may have to indemnify or compensate any Agent or Issuing Bank in connection with matters arising upon or prior to the following termination of this Agreement shall survive any termination of this Agreement or any other Note Document: (a) any waivers or admissions made by any Restricted Person in any Note Document, (b) any obligations that any Person may have to indemnify or compensate any Holder Party, Loan Document and (c) the provisions release of Sections 2.10 and this Section 12.10Obligors. At the request and expense of CompanyBorrower, Administrative Agent Managing Agents shall prepare and execute all necessary instruments to reflect and effect such termination of the Note DocumentsLoan Documents including, without limitation, the Security Instruments. Administrative Agent is Managing Agents are hereby authorized authorized, jointly and severally, to execute all such instruments on behalf of all HoldersLenders, without the joinder of or further action or consent by any Holder. In particular, and without limitation of any other provision of a Note Document, the obligations of the Restricted Persons under the Warrant and under Sections 2.10, 3.4, 3.5, 12.4, 12.8, 12.9 and 12.15 of this Agreement shall survive the termination of this Agreement and the release of the CollateralLender.