ACKNOWLEDGEMENT AND CONSENT
Exhibit 4.70
ACKNOWLEDGEMENT AND CONSENT
The undersigned hereby acknowledges receipt of a copy of the Pledge and Security Agreement, dated as of November 1, 2007, made by and between NGP BLUE MOUNTAIN HOLDCO LLC, a Delaware limited liability company (the “Pledgor”), for the benefit of GLITNIR BANKI HF (the “Lender”), a company incorporated in Iceland (the “Pledge and Security Agreement”). The undersigned agrees for the benefit of the Lender as follows:
1. The undersigned will be bound by the terms of the Pledge and Security Agreement and will comply with such terms insofar as such terms are applicable to the undersigned.
2. The undersigned will notify the Lender promptly in writing of the occurrence of any of the events described in the proviso in Section 5 of the Pledge and Security Agreement (without giving effect to any clause therein that would require the undersigned to determine the Lender's opinion as to any matter described therein).
3. The terms of Section 9(b) of the Pledge and Security Agreement shall apply to it, mutatis mutandis, with respect to all actions that may be required of it under or pursuant to or arising out of Section 9 of the Pledge and Security Agreement.
NGP BLUE MOUNTAIN I LLC |
By: | /s/ Xxxxx X. Xxxxxxxx |
Name: Xxxxx X. Xxxxxxxx |
Title: President & CEO |
Address for Notices: |
0000 Xxxx Xxxxx Xxxx, Xxxxx |
Attention: Xxx Xxxxxxxxx |
Phone: (000) 000-0000 |
With a copy to: |
Xxxxx 000-000 Xxxxxxxxx Xxxxxx |
Xxxxxxxxx, XX X0X 0X0 |
Xxxxxx |
Attention: Xxxxx Xxxxxxxx & Xxxxxx Xxxxxxx Phone: (000) 000-0000 |
Fax: (000) 000-0000 |
