Examples of Existing Surety Bonds in a sentence
Buyer shall indemnify and hold harmless Seller with respect to all Liabilities arising out of or relating to any such Existing Surety Bonds to the extent they arise in the first instance in connection with the period following the Closing.
Regarding a possible single contact point, we think it should not be a general principle as such.
Without limiting the foregoing, following the Closing Date, CPE LLC hereby undertakes, assumes and agrees to perform, pay and discharge all such Existing Surety Bonds until such time as they are released, including any and all costs in respect of the Existing Surety Bonds (including any calls against any letters of credit or similar arrangements).
The Restricted Cash Amount shall be released from time to time to CPE LLC pursuant to the terms of the Escrow Agreement as the Existing Surety Bonds are replaced with new surety bonds, letters of credit or other credit arrangements (the "Replacement Surety Bonds") in amounts, as needed, to secure such Replacement Surety Bonds.
On and as of the Effective Date or as soon as reasonably practicable thereafter, Lexon shall have new bonds (collectively, the “New Surety Bonds”) executed by the appropriate Reorganized Debtor on the same terms and conditions as the Existing Surety Bonds in existence immediately prior to the Effective Date, and each Reorganized Debtor party thereto shall pay any and all premiums and other obligations due or that may become due on or after the Effective Date under such New Surety Bonds.
The Existing Surety Bonds and all letters of credit, guarantees and other financial obligations or assurances securing reclamation obligations on or relating to the Mineral and Real Properties are listed on Section 3.8 of the Disclosure Schedules.
These Existing Surety Bonds are issued pursuant to certain existing indemnity agreements and/or related agreements (including coal reclamation bond agreements) by and between the Sureties, on the one hand, and the Debtors and their affiliates and certain non-Debtors, as applicable, on the other hand (collectively, the “Existing Indemnity Agreements” and, each, an “Existing Indemnity Agreement”).
On the IPO Closing Date, the Cloud Peak Parties hereby agree to enter into the Escrow Agreement, pursuant to which $ million (the "Restricted Cash") will be placed in escrow for the benefit of the Rio Tinto Group with respect to the Existing Surety Bonds.
Further, nothing contained in paragraphs 151 through 157 of this Confirmation Order relating to Lexon, the Existing Surety Bonds, the Indemnity Agreements, the New Surety Bonds or the New Indemnity Agreements shall constitute or be deemed a waiver of any Cause of Action that the Debtors or Reorganized Debtors may hold against any Entity.
Peabody or any individual Surety as a "Released Surety" may negotiate with any other U.S. Treasury Department Listed surety, whether or not the surety is a party to this Agreement, as a "Replacing Surety" to issue new Surety Bonds or increase Existing Surety Bonds for the purpose of replacing and releasing the existing bonds of the Released Surety ("Surety Bond Replacement").