Common use of Adequate Assurances Clause in Contracts

Adequate Assurances. If SUBLESSEE'S trustee or the debtor-in-possession has assumed the Lease pursuant to the terms and provisions of Sections 17H(1), 17H(2) and 17H(3) for the purposes of assigning (or thereafter elects to assign) this Lease, this Lease may be so assigned only if the proposed assignee has provided adequate assurance of future performances of all of the terms, covenants and conditions of this Lease to be performed by SUBLESSEE. SUBLESSOR shall be entitled to receive all cash proceeds of such assignment. As used herein, "adequate assurance of future performance" shall mean and include all such requirements as set forth in Section 365 of Title II, U.S. Code (as may be amended) are met, and further that no less than each of the following conditions has been satisfied. a). The proposed assignee has furnished SUBLESSOR with either (i) a current financial statement audited by a certified public accountant indicating a net worth and working capital in amounts which SUBLESSOR reasonably determines to be sufficient to assure the future performance by such assignee of SUBLESSEE'S obligations under this Lease, or (ii) a guarantee or guarantees, in form and substance satisfactory to SUBLESSOR, from one or more persons with a net worth which SUBLESSOR reasonable determines to be sufficient to secure the SUBLESSEE'S obligations hereunder, and has also furnished information with respect to the proposed assignee's management ability, expertise and experience in SUBLESSEE'S business and SUBLESSOR has reasonably determined that the proposed assignee has the management expertise and experience to operate the business conducted on the Premises. b). SUBLESSOR has obtained all consents or waivers from others required under any lease, mortgage, financing arrangement or other agreement by which SUBLESSOR is bound, in order to permit SUBLESSOR to consent to such assignment without violating the terms of any such agreement. c). The proposed assignment will not release or impair any guaranty of the obligations of SUBLESSEE (including the proposed assignee) under this Lease.

Adequate Assurances. If SUBLESSEE'S trustee (a) Supplier may, in its sole discretion and upon notice to Coffeyville, require that Coffeyville provide it with satisfactory security for or the debtor-in-possession has assumed the Lease pursuant to the terms and provisions of Sections 17H(1), 17H(2) and 17H(3) for the purposes of assigning (or thereafter elects to assign) this Lease, this Lease may be so assigned only if the proposed assignee has provided adequate assurance (“Adequate Assurance”) of future performances Coffeyville’s performance within 48 hours of all of the terms, covenants and conditions of this Lease to be performed by SUBLESSEE. SUBLESSOR shall be entitled to receive all cash proceeds of giving such assignment. As used herein, "adequate assurance of future performance" shall mean and include all such requirements as set forth in Section 365 of Title II, U.S. Code (as may be amended) are met, and further that no less than each of the following conditions has been satisfied.notice if: a). The proposed assignee has furnished SUBLESSOR with either (i) Supplier determines that reasonable grounds for insecurity exist with respect to Coffeyville’s ability to perform its obligations hereunder; or (ii) A Coffeyville payment default or event which, with the giving of notice or lapse of time or both, would become a current financial statement audited payment default hereunder, has occurred. In the event Supplier gives such a notice pursuant to clause (i) above, such notice shall include a summary of the information upon which Supplier has based its determination that such reasonable grounds for insecurity exist. Such summary shall be in sufficient detail to reasonably communicate Supplier’s grounds that insecurity exists. (b) Any requirement for Adequate Assurance shall be satisfied only by Coffeyville’s delivery of the types of Eligible Forms of Assurance (as defined below) referred to in clauses (i) and/or (ii) of the definition thereof (it being agreed that the determination as to whether to provide either the type referred to in clause (i) or the type referred to in clause (ii) shall be made by Coffeyville in its sole discretion) or such other types of Eligible Forms of Assurance as Supplier shall deem acceptable in its sole discretion. “Eligible Forms of Assurance” shall consist of (i) an irrevocable standby or documentary letter of credit, for a duration and in an amount sufficient to cover a value up to the Current Exposure, including reasonable contingencies for the designated time period, in a format reasonably satisfactory to Supplier and issued or confirmed by a certified public accountant indicating a net worth and working capital in amounts which SUBLESSOR bank reasonably determines acceptable to be sufficient to assure the future performance by such assignee of SUBLESSEE'S obligations under this LeaseSupplier, or (ii) a guarantee or guaranteesprepayment to cover a value up to the Current Exposure; (iii) a surety instrument for a duration and in an amount sufficient to cover a value up to the Current Exposure, in form and substance a format reasonably satisfactory to SUBLESSORSupplier and issued by a financial institution or insurance company reasonably acceptable to Supplier; or (iv) a security interest in the assets of Coffeyville to the extent permitted by the terms of the Specified Indebtedness and sufficient, from one or more persons with a net worth which SUBLESSOR in the reasonable determines to be sufficient judgment of the Supplier, to secure the SUBLESSEE'S obligations hereunderCurrent Exposure. To continue to satisfy any requirement for Adequate Assurance, and has also furnished information with respect to the proposed assignee's management ability, expertise and experience in SUBLESSEE'S business and SUBLESSOR has reasonably determined that the proposed assignee has the management expertise and experience to operate the business conducted on the Premises. b). SUBLESSOR has obtained all consents or waivers from others required under any lease, mortgage, financing arrangement or other agreement by which SUBLESSOR is bound, in order to permit SUBLESSOR to consent to such assignment without violating the terms amount of any such agreementEligible Form of Assurance deemed acceptable by Supplier as Adequate Assurance shall be adjusted from time to time so that it is sufficient to cover the Current Exposure as it fluctuates. c). The proposed assignment will not release or impair any guaranty of the obligations of SUBLESSEE (including the proposed assignee) under this Lease.

Adequate Assurances. If SUBLESSEE'S trustee (a) Supplier may, in its sole discretion and upon notice to Coffeyville, require that Coffeyville provide it with satisfactory security for or the debtor-in-possession has assumed the Lease pursuant to the terms and provisions of Sections 17H(1), 17H(2) and 17H(3) for the purposes of assigning (or thereafter elects to assign) this Lease, this Lease may be so assigned only if the proposed assignee has provided adequate assurance (“Adequate Assurance”) of future performances Coffeyville’s performance within 48 hours of all of the terms, covenants and conditions of this Lease to be performed by SUBLESSEE. SUBLESSOR shall be entitled to receive all cash proceeds of giving such assignment. As used herein, "adequate assurance of future performance" shall mean and include all such requirements as set forth in Section 365 of Title II, U.S. Code (as may be amended) are met, and further that no less than each of the following conditions has been satisfied.notice if: a). The proposed assignee has furnished SUBLESSOR with either (i) Supplier determines that reasonable grounds for insecurity exist with respect to Coffeyville’s ability to perform its obligations hereunder; or (ii) A Coffeyville payment default or event which, with the giving of notice or lapse of time or both, would become a current financial statement audited payment default hereunder, has occurred. In the event Supplier gives such a notice pursuant to clause (i) above, such notice shall include a summary of the information upon which Supplier has based its determination that such reasonable grounds for insecurity exist. Such summary shall be in sufficient detail to reasonably communicate Supplier’s grounds that insecurity exists. (b) Any requirement for Adequate Assurance shall be satisfied only by Coffeyville’s delivery of the types of Eligible Forms of Assurance (as defined below) referred to in clauses (i) and/or (ii) of the definition thereof (it being agreed that the determination as to whether to provide either the type referred to in clause (i) or the type referred to in clause (ii) shall be made by Coffeyville in its sole discretion) or such other types of Eligible Forms of Assurance as Supplier shall deem acceptable in its sole discretion. “Eligible Forms of Assurance” shall consist of (i) an irrevocable standby or documentary letter of credit, for a duration and in an amount sufficient to cover a value up to the Current Exposure, including reasonable contingencies for the designated time period, in a format reasonably satisfactory to Supplier and issued or confirmed by a certified public accountant indicating a net worth and working capital in amounts which SUBLESSOR bank reasonably determines acceptable to be sufficient to assure the future performance by such assignee of SUBLESSEE'S obligations under this Lease, or Supplier; (ii) a guarantee or guaranteesprepayment to cover a value up to the Current Exposure; (iii) a surety instrument for a duration and in an amount sufficient to cover a value up to the Current Exposure, in form and substance a format reasonably satisfactory to SUBLESSORSupplier and issued by a financial institution or insurance company reasonably acceptable to Supplier; or (iv) a security interest in the assets of Coffeyville to the extent permitted by the terms of the Specified Indebtedness and sufficient, from one or more persons with a net worth which SUBLESSOR in the reasonable determines to be sufficient judgment of the Supplier, to secure the SUBLESSEE'S obligations hereunderCurrent Exposure. To continue to satisfy any requirement for Adequate Assurance, and has also furnished information with respect to the proposed assignee's management ability, expertise and experience in SUBLESSEE'S business and SUBLESSOR has reasonably determined that the proposed assignee has the management expertise and experience to operate the business conducted on the Premises. b). SUBLESSOR has obtained all consents or waivers from others required under any lease, mortgage, financing arrangement or other agreement by which SUBLESSOR is bound, in order to permit SUBLESSOR to consent to such assignment without violating the terms amount of any such agreementEligible Form of Assurance deemed acceptable by Supplier as Adequate Assurance shall be adjusted from time to time so that it is sufficient to cover the Current Exposure as it fluctuates. c). The proposed assignment will not release or impair any guaranty of the obligations of SUBLESSEE (including the proposed assignee) under this Lease.

Adequate Assurances. If SUBLESSEE'S trustee Vitol may, in its sole discretion and upon notice to Coffeyville, require that Coffeyville provide it with satisfactory security for or the debtor-in-possession has assumed the Lease pursuant to the terms and provisions of Sections 17H(1), 17H(2) and 17H(3) for the purposes of assigning (or thereafter elects to assign) this Lease, this Lease may be so assigned only if the proposed assignee has provided adequate assurance (“Adequate Assurance”) of future performances Coffeyville’s performance within three (3) Business Days of all of the terms, covenants and conditions of this Lease to be performed by SUBLESSEE. SUBLESSOR shall be entitled to receive all cash proceeds of giving such assignment. As used herein, "adequate assurance of future performance" shall mean and include all such requirements as set forth in Section 365 of Title II, U.S. Code notice if: (as may be amendeda) are met, and further that no less than each of the following conditions has been satisfied. a). The proposed assignee has furnished SUBLESSOR with either (i) a current financial statement audited by a certified public accountant indicating a net worth and working capital in amounts which SUBLESSOR Vitol reasonably determines to be sufficient to assure the future performance by such assignee of SUBLESSEE'S obligations under this Lease, or (ii) a guarantee or guarantees, in form and substance satisfactory to SUBLESSOR, from one or more persons with a net worth which SUBLESSOR that reasonable determines to be sufficient to secure the SUBLESSEE'S obligations hereunder, and has also furnished information grounds for insecurity exist with respect to the proposed assignee's management ability, expertise and experience in SUBLESSEE'S business and SUBLESSOR has reasonably determined that the proposed assignee has the management expertise and experience Coffeyville’s ability to operate the business conducted on the Premises.perform its obligations hereunder; or (b) Coffeyville defaults with respect to any payment hereunder (after giving effect to any applicable grace period). SUBLESSOR Vitol’s right to request Adequate Assurance pursuant to Section 11.3(a) shall include, but not be limited to any internal corporate reorganization where Coffeyville or CVR Energy, Inc., as the case may be, is not as creditworthy following such transaction as prior thereto. In the event Vitol gives such a notice pursuant to Section 11.3(a) above, such notice shall include a summary of the information upon which Vitol has obtained all consents or waivers from others required under any lease, mortgage, financing arrangement or other agreement by which SUBLESSOR is boundbased its determination that such reasonable grounds for insecurity exist. Such summary shall be in sufficient detail to reasonably communicate Vitol’s grounds that insecurity exists; however, in order no event shall the nature of Vitol’s notice relieve Coffeyville of its obligation to permit SUBLESSOR to consent to such assignment without violating the terms of any such agreement. c)provide Adequate Assurance hereunder. The proposed assignment will not release or impair any guaranty of the obligations of SUBLESSEE PORTIONS OF THIS AGREEMENT DENOTED WITH THREE ASTERISKS (including the proposed assignee***) under this Lease.HAVE BEEN OMITTED AND WILL BE SUBJECT TO A REQUEST FOR CONFIDENTIAL TREATMENT WITH THE SECURITIES AND EXCHANGE COMMISSION

Adequate Assurances. If SUBLESSEE'S Tenant's trustee or the debtor-in-possession in­possession has assumed the Lease pursuant to the terms and provisions of Sections 17H(1)16.8.1, 17H(2) 16.8.2, and 17H(3) 16.8.3 for the purposes of assigning (or thereafter elects to assign) this Lease, this Lease may be so assigned only if the proposed assignee has provided adequate assurance of future performances of all of the terms, covenants and conditions of this Lease to be performed by SUBLESSEETenant. SUBLESSOR Landlord shall be entitled to receive all cash proceeds of such assignment. As used herein, "adequate assurance of future performance" shall mean and include all such requirements as set forth in Section 365 of Title II, U.S. Code (as may be amended) are met, and further that no less than each of the following conditions has been satisfied.: a). 16.8.4.1 The proposed assignee has furnished SUBLESSOR Landlord with either (i) a current financial statement audited by a certified public accountant indicating a net worth and working capital in amounts which SUBLESSOR Landlord reasonably determines to be sufficient to assure the future performance by such assignee of SUBLESSEE'S Tenant's obligations under this Lease, or (ii) a guarantee or guarantees, in form and substance satisfactory to SUBLESSORLandlord, from one or more persons with a net worth which SUBLESSOR reasonable Landlord reasonably determines to be sufficient to secure the SUBLESSEE'S Tenant's obligations hereunder, and has also furnished information with respect to the proposed assignee's management ability, expertise and experience in SUBLESSEE'S Tenant's business and SUBLESSOR Landlord has reasonably determined that the proposed assignee has the management expertise and experience to operate the business conducted on the Premises. b). SUBLESSOR 16.8.4.2 Landlord has obtained all consents or waivers from others required under any lease, mortgage, financing arrangement or other agreement by which SUBLESSOR Landlord is bound, in order to permit SUBLESSOR Landlord to consent to such assignment without violating the terms of any such agreement. c). 16.8.4.3 The proposed assignment will not release or impair any guaranty of the obligations of SUBLESSEE Tenant (including the proposed assignee) under this Lease.

Adequate Assurances. If SUBLESSEE'S trustee (a) A▇▇▇ may, in its sole discretion and upon written notice to Coffeyville, require that Coffeyville provide it with satisfactory security for or the debtor-in-possession has assumed the Lease pursuant to the terms and provisions of Sections 17H(1), 17H(2) and 17H(3) for the purposes of assigning (or thereafter elects to assign) this Lease, this Lease may be so assigned only if the proposed assignee has provided adequate assurance (“Adequate Assurance”) of future performances Coffeyville’s performance within 48 hours of all of the terms, covenants and conditions of this Lease to be performed by SUBLESSEE. SUBLESSOR shall be entitled to receive all cash proceeds of A▇▇▇ giving such assignment. As used herein, "adequate assurance of future performance" shall mean and include all such requirements as set forth in Section 365 of Title II, U.S. Code (as may be amended) are met, and further that no less than each of the following conditions has been satisfied.notice if: a). The proposed assignee has furnished SUBLESSOR with either (i) A▇▇▇ determines that reasonable grounds for insecurity exist with respect to Coffeyville’s ability to perform its obligations hereunder; or (ii) A Coffeyville payment default or event which, with the giving of notice or lapse of time or both, would become a current financial statement audited payment default hereunder, has occurred. In the event A▇▇▇ gives such a notice pursuant to clause (i) above, such notice shall include a summary of the information upon which A▇▇▇ has based its determination that such reasonable grounds for insecurity exist. Such summary shall be in sufficient detail to reasonably communicate Aron’s grounds that insecurity exists. (b) Any requirement for Adequate Assurance shall be satisfied only by Coffeyville’s delivery of the types of Eligible Forms of Assurance (as defined below) referred to in clauses (i) and/or (ii) of the definition thereof (it being agreed that the determination as to whether to provide either the type referred to in clause (i) or the type referred to in clause (ii) shall be made by Coffeyville in its sole discretion) or such other types of Eligible Forms of Assurance as A▇▇▇ shall d▇▇▇ acceptable in its sole discretion. “Eligible Forms of Assurance” shall consist of (i) an irrevocable standby or documentary letter of credit, for a duration and in an amount sufficient to cover a value up to the Current Exposure, including reasonable contingencies for the designated time period, in a format reasonably satisfactory to A▇▇▇ and issued or confirmed by a certified public accountant indicating a net worth and working capital in amounts which SUBLESSOR bank reasonably determines acceptable to be sufficient to assure the future performance by such assignee of SUBLESSEE'S obligations under this LeaseA▇▇▇, or (ii) a guarantee or guaranteesprepayment to cover a value up to the Current Exposure; (iii) a surety instrument for a duration and in an amount sufficient to cover a value up to the Current Exposure, in form and substance a format reasonably satisfactory to SUBLESSORA▇▇▇ and issued by a financial institution or insurance company reasonably acceptable to A▇▇▇; or (iv) a security interest in the assets of Coffeyville to the extent permitted by the terms of the Specified Indebtedness and sufficient, from one or more persons with a net worth which SUBLESSOR in the reasonable determines to be sufficient judgment of the A▇▇▇, to secure the SUBLESSEE'S obligations hereunderCurrent Exposure. To continue to satisfy any requirement for Adequate Assurance, and has also furnished information with respect to the proposed assignee's management ability, expertise and experience in SUBLESSEE'S business and SUBLESSOR has reasonably determined that the proposed assignee has the management expertise and experience to operate the business conducted on the Premises. b). SUBLESSOR has obtained all consents or waivers from others required under any lease, mortgage, financing arrangement or other agreement by which SUBLESSOR is bound, in order to permit SUBLESSOR to consent to such assignment without violating the terms amount of any such agreementEligible Form of Assurance deemed acceptable by A▇▇▇ as Adequate Assurance shall be adjusted from time to time so that it is sufficient to cover the Current Exposure as it fluctuates. c). The proposed assignment will not release or impair any guaranty of the obligations of SUBLESSEE (including the proposed assignee) under this Lease.

Adequate Assurances. If SUBLESSEE'S trustee (a) Supplier may, in its sole discretion and upon notice to Coffeyville, require that Coffeyville provide it with satisfactory security for or the debtor-in-possession has assumed the Lease pursuant to the terms and provisions of Sections 17H(1), 17H(2) and 17H(3) for the purposes of assigning (or thereafter elects to assign) this Lease, this Lease may be so assigned only if the proposed assignee has provided adequate assurance (“Adequate Assurance”) of future performances Coffeyville’s performance within 48 hours of all of the terms, covenants and conditions of this Lease to be performed by SUBLESSEE. SUBLESSOR shall be entitled to receive all cash proceeds of giving such assignment. As used herein, "adequate assurance of future performance" shall mean and include all such requirements as set forth in Section 365 of Title II, U.S. Code (as may be amended) are met, and further that no less than each of the following conditions has been satisfied. a). The proposed assignee has furnished SUBLESSOR with either notice if: (i) a current financial statement audited by a certified public accountant indicating a net worth and working capital in amounts which SUBLESSOR reasonably Supplier determines that reasonable grounds for insecurity exist with respect to be sufficient Coffeyville’s ability to assure the future performance by such assignee of SUBLESSEE'S perform its obligations under this Lease, hereunder; or (ii) A Coffeyville payment default or event which, with the giving of notice or lapse of time or both, would become a guarantee payment default hereunder, has occurred. In the event Supplier gives such a notice pursuant to clause (i) above, such notice shall include a summary of the information upon which Supplier has based its determination that such reasonable grounds for insecurity exist. Such summary shall be in sufficient detail to reasonably communicate Supplier’s grounds that insecurity exists. (b) Any requirement for Adequate Assurance shall be satisfied only by Coffeyville’s delivery of the types of Eligible Forms of Assurance (as defined below) referred to in clauses (i) and/or (ii) of the definition thereof (it being agreed that the determination as to whether to provide either the type referred to in clause (i) or guaranteesthe type referred to in clause (ii) shall be made by Coffeyville in its sole discretion) or such other types of Eligible Forms of Assurance as Supplier shall deem acceptable in its sole discretion. “Eligible Forms of Assurance” shall consist of (i) an irrevocable standby or documentary letter of credit, for a duration and in form and substance satisfactory to SUBLESSOR, from one or more persons with a net worth which SUBLESSOR reasonable determines to be an amount sufficient to secure the SUBLESSEE'S obligations hereunder, and has also furnished information with respect cover a value up to the proposed assignee's management abilityCurrent Exposure, expertise and experience in SUBLESSEE'S business and SUBLESSOR has reasonably determined that including reasonable contingencies for the proposed assignee has the management expertise and experience to operate the business conducted on the Premises. b). SUBLESSOR has obtained all consents or waivers from others required under any lease, mortgage, financing arrangement or other agreement by which SUBLESSOR is bound, in order to permit SUBLESSOR to consent to such assignment without violating the terms of any such agreement. c). The proposed assignment will not release or impair any guaranty of the obligations of SUBLESSEE (including the proposed assignee) under this Lease.designated time