Common use of Adequate Assurances Clause in Contracts

Adequate Assurances. If, during the Term of this Agreement, a Material Adverse Change has occurred with respect to the Company and is continuing, then ▇▇▇▇ may notify the Company thereof and demand in writing that the Company provide to ▇▇▇▇ adequate assurance of the Company’s ability to perform its obligations hereunder. Such adequate assurance (the “Adequate Assurance”) may take the form of a prepayment from the Company to ▇▇▇▇ in such amount as ▇▇▇▇ reasonably deems sufficient, a provision of additional credit support in the form of letters of credit, third party guaranties and/or collateral security in such forms and amount and provided by such parties as ▇▇▇▇ reasonably deems sufficient or such other form of assurance as ▇▇▇▇ reasonably deems sufficient, in each case taking into account such Material Adverse Change. If such adequate assurance is not received within ten (10) Business Days after such demand by ▇▇▇▇, then such failure shall constitute an Event of Default by the Company under clause (j) of Section 18.1.

Appears in 4 contracts

Sources: Supply and Offtake Agreement (Delek US Holdings, Inc.), Supply and Offtake Agreement (Alon USA Energy, Inc.), Supply and Offtake Agreement (Alon USA Energy, Inc.)

Adequate Assurances. If, during the Term of this Agreement, a Material Adverse Change has occurred with respect to the Company and is continuing, then ▇▇▇▇ may notify the Company thereof and demand in writing that the Company provide to ▇▇▇▇ adequate assurance of the Company’s ability to perform its obligations hereunder. Such adequate assurance (the “Adequate Assurance”) may take the form of a prepayment from the Company to ▇▇▇▇ in such amount as ▇▇▇▇ reasonably deems sufficient, a provision of additional credit support in the form of letters of credit, third party guaranties and/or collateral security in such forms and amount and provided by such parties as ▇▇▇▇ reasonably deems sufficient or such other form of assurance as ▇▇▇▇ reasonably deems sufficient, in each case taking into account such Material Adverse Change. If such adequate assurance is not received within ten (10) Business Days after such demand by ▇▇▇▇, then such failure shall constitute an Event of Default by the Company under clause (jg) of Section 18.1.

Appears in 2 contracts

Sources: Master Supply and Offtake Agreement (Delek US Holdings, Inc.), Master Supply and Offtake Agreement (Delek US Holdings, Inc.)

Adequate Assurances. If, during the Term of this Agreement, a Material Adverse Change has occurred with respect to the Company and is continuing, then ▇▇▇▇ may notify the Company thereof and demand in writing that the Company provide to ▇▇▇▇ adequate assurance of the Company’s ability to perform its obligations hereunder. Such adequate assurance (the th e “Adequate Assurance”) may take the form of a prepayment from the Company to ▇▇▇▇ in such amount as ▇▇▇▇ reasonably deems sufficient, a provision of additional credit support in the form of letters of credit, third party guaranties and/or collateral security in such forms and amount and provided by such parties as ▇▇▇▇ reasonably deems sufficient or such other form of assurance as ▇▇▇▇ reasonably deems sufficient, in each case taking into account such Material Adverse Change. If such adequate assurance is not received within ten (10) Business Days after such demand by ▇▇▇▇, then such failure shall constitute an Event of Default by the Company under clause (jh) of Section 18.1.

Appears in 1 contract

Sources: Supply and Offtake Agreement (Alon USA Energy, Inc.)

Adequate Assurances. If, during the Term of this Agreement, a Material Adverse Change has occurred with respect to the Company and is continuing, then A▇▇▇ may notify the Company thereof and demand in writing that the Company provide to A▇▇▇ adequate assurance of the Company’s 's ability to perform its obligations hereunder. Such adequate assurance (the “Adequate Assurance”) may take the form of a prepayment from the Company to A▇▇▇ in such amount as A▇▇▇ reasonably deems sufficient, a provision of additional credit support in the form of letters of credit, third party guaranties and/or collateral security in such forms and amount and provided by such parties as A▇▇▇ reasonably deems sufficient or such other form of assurance as A▇▇▇ reasonably deems sufficient, in each case taking into account such Material Adverse Change. If such adequate assurance is not received within ten (10) Business Days after such demand by A▇▇▇, then such failure shall constitute an Event of Default by the Company under clause (jh) of Section 18.1.

Appears in 1 contract

Sources: Supply and Offtake Agreement (Alon USA Energy, Inc.)

Adequate Assurances. If, during the Term of this Agreement, a Material Adverse Change has occurred with respect to the Company and is continuing, then ▇▇▇▇ may notify the Company thereof and demand in writing that the Company provide to ▇▇▇▇ adequate assurance of the Company’s ability to perform its obligations hereunder. Such adequate assurance (the “Adequate Assurance”) may take the form of a prepayment from the Company to ▇▇▇▇ in such amount as ▇▇▇▇ reasonably deems sufficient, a provision of additional credit support in the form of letters of credit, third party guaranties and/or collateral security in such forms and amount and provided by such parties as ▇▇▇▇ reasonably deems sufficient or such other form of assurance as ▇▇▇▇ reasonably deems sufficient, in each case taking into account such Material Adverse Change. If such adequate assurance Adequate Assurance is not received within ten (10) Business Days after such demand by ▇▇▇▇, then such failure shall constitute an Event of Default by the Company under clause (ji) of Section 18.119.1.

Appears in 1 contract

Sources: Master Supply and Offtake Agreement (Delek US Holdings, Inc.)

Adequate Assurances. If, during the Term of this Agreement, a Material Adverse Change has occurred with respect to the Company and is continuing, then ▇▇▇▇ may notify the Company thereof and demand in writing that the Company provide to ▇▇▇▇ adequate assurance of the Company’s ability to perform its obligations hereunder. Such adequate assurance (the “Adequate Assurance”) may take the form of a prepayment from the Company to ▇▇▇▇ in such amount as ▇▇▇▇ reasonably deems sufficient, a provision of additional credit support in the form of letters of credit, third party guaranties and/or collateral security in such forms and amount and provided by such parties as ▇▇▇▇ reasonably deems sufficient or such other form of assurance as ▇▇▇▇ reasonably deems sufficient, in each case taking into account such Material Adverse Change. If such adequate assurance is not received within ten (10) Business Days after such demand by ▇▇▇▇, then such failure shall constitute an Event of Default by the Company under clause (j) of Section 18.1.. ARTICLE 13

Appears in 1 contract

Sources: Supply and Offtake Agreement

Adequate Assurances. If, during the Term of this Agreement, a Material Adverse Change has occurred with respect to the Company and is continuing, then ▇▇▇▇ may notify the Company thereof and demand in writing that the Company provide to ▇▇▇▇ adequate assurance of the Company’s ability to perform its obligations hereunder. Such adequate assurance (the “Adequate Assurance”) may take the form of a prepayment from the Company to ▇▇▇▇ in such amount as ▇▇▇▇ reasonably deems sufficient, a provision of additional credit support in the form of letters of credit, third party guaranties and/or collateral security in such forms and amount and provided by such parties as ▇▇▇▇ reasonably deems sufficient or such other form of assurance as ▇▇▇▇ reasonably deems sufficient, in each case taking into account such Material Adverse Change. If such adequate assurance is not received within ten (10) 10 Business Days after such demand by ▇▇▇▇, then such failure shall constitute an Event of Default by the Company under clause (jk) of Section 18.1.

Appears in 1 contract

Sources: Supply and Offtake Agreement (Delek US Holdings, Inc.)