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.
Except for the Existing Surety Bonds and Existing Guarantees, or as set forth in the footnotes to the Audited Financial Statements, the Companies do not maintain any “off-balance sheet arrangement” within the meaning of Item 303 of Regulation S-K under the Securities Act and the Exchange Act.
Nothing in the Plan or this Confirmation Order shall be deemed to limit any Surety’s rights or interests in any collateral or the proceeds of such collateral securing the Existing Surety Bonds and the Existing Indemnity Agreements (the “ Surety Collateral”), including,without limitation, the right to draw or use any Surety Collateral to reimburse any claim of such Surety under or in respect of the Existing Surety Bonds and/or the Existing Indemnity Agreements.
ANNEX II SCHEDULE 7.02(a) TO CREDIT AGREEMENT Existing Surety Bonds [Please provide list.] ANNEX IV EXHBIT 2.03B TO CREDIT AGREEMENT Form of Letter of Credit (the Site Bond, Bond No. 0590288) See attached.
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.
Without limiting the foregoing, Buyer hereby undertakes, assumes and agrees to perform, pay and discharge as of the Closing all Existing Surety Bonds and Interim Surety Bonds until such time as they are released, and Buyer shall indemnify, defend and hold harmless Seller and the Spin-Off Entities with respect to all liabilities arising out of or relating to any such Existing Surety Bonds or Interim Surety Bonds.
Nothing in the Plan or this Confirmation Order, or any document or other agreements or exhibits to the Plan, shall be interpreted to alter, diminish or enlarge the rights or obligations of the Sureties or any obligee under the Existing Surety Bonds with respect to any reclamation obligations relating to such Existing Surety Bonds, nor shall any provision of the Plan be deemed to enjoin or preclude the Sureties from asserting any rights or claims of any obligees under such Existing Surety Bonds.
Notwithstanding any other provision of the Plan or this Confirmation Order, all letters of credit or other collateral issued to Lexon as security for a Debtor’s obligations under the Existing Surety Bonds or the Indemnity Agreements, shall remain in place for the benefit of the resulting Reorganized Debtors to secure against any “loss” or “default” as defined in the applicable Indemnity Agreement or New Surety Bond incurred by Lexon.
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”).
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.