Examples of Scheduled Bonds in a sentence
Purchaser shall have delivered to Seller a letter of credit or surety bond, duly executed by the financial institution that is the issuer thereof, in respect of, and as replacement for, each Scheduled Bond, together with such filings, transmittal letters, applications and other documents as shall be necessary or as shall be reasonably requested by Seller in order to effect Mineral's and its Affiliates' (including the Subsidiaries) release of their obligations with respect to the Scheduled Bonds.
Buyer Parties shall, within 10 days following the Closing Date, cause such Buyers to submit to the appropriate Governmental Entity surety bonds in substitution for the Scheduled Bonds that will provide for coverage of the reclamation obligations of the Acquired Assets as required by applicable Law.
From 30 days following the Closing Date until such time as Sellers are fully released from any and all Scheduled Bonds, such Buyers shall reimburse Sellers actual costs and expenses and indemnify, save, defend and hold harmless Sellers from all Losses in any way related to the Scheduled Bonds.
In such event, the parties hereto further acknowledge that Minerals and its Affiliates may not be released from their liability in respect of such Scheduled Bonds until both Purchaser and Seller or their respective Affiliates deliver such credit support instruments as are, in the aggregate, sufficient in the judgment of the beneficiaries of such Scheduled Bonds to collateralize the obligations secured thereby.
From the Closing Date until such time as Seller and all Affiliates of Seller (other than the Company) are fully released from any and all Scheduled Bonds, Purchaser and the Company shall indemnify, save, defend and hold harmless Seller and all Affiliates of Seller (other than the Company) from all liabilities and Adverse Consequences in any way related to the Scheduled Bonds.
Replacement of Scheduled Bonds or Letters of Credit and Repayment of Scheduled Cash.........
With respect to all Scheduled Bonds that are not replaced by --- Purchaser within one hundred eighty (180) days following the Closing Date and resulting in a full and complete release of Mineral's and its Affiliates liabilities with respect thereto, Purchaser shall pay to Seller a monthly fee on the average daily maximum contingent amount outstanding under such Scheduled Bonds during the applicable month (the "Average Contingent Amount").
From the Closing Date until such time as Seller and its Affiliates are fully released from any and all Scheduled Bonds, Purchaser shall reimburse Seller’s actual costs and expenses and indemnify, save, defend and hold harmless Seller and its Affiliates from all Liabilities and Adverse Consequences in any way related to the Scheduled Bonds.
At the closing of any enterprise valuation sale pursuant to this Section 9.1, (i) the Enterprise Valuation Purchase Price shall be paid in cash, (ii) all Scheduled Cash, all loans made to Belleli in accordance with Article VI hereof, and all capital contributions treated as debt for purposes of this Article IX provided by the selling party shall be repaid in cash, and (iii) all Scheduled Bonds and Letters of Credit provided by the selling party and its Affiliates shall be released.
The Scheduled Bonds do not include the Seller’s supersedeas bond in the amount of $5,515,000 as part of the PacifiCorp litigation.