Common use of Compliance with the Laws and Agreements; No Defaults Clause in Contracts

Compliance with the Laws and Agreements; No Defaults. (a) Each of the Obligors (i) is in compliance with (A) all Applicable Laws applicable to it or its Property or to the construction of the Sand Facility Improvements, and (B) all agreements and other instruments binding upon it or its Property, and (ii) possesses all licenses, permits, franchises, exemptions, approvals and other governmental authorizations, in each case, necessary for the ownership of its Property, the construction of the Sand Facility Improvements, and the conduct of its business, except where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect. (b) There exists no default or event or circumstance that, but for the expiration of any applicable grace period or the giving of notice, or both, would result in or permit the acceleration of the maturity of or would require any Borrower or any other Obligor or any of their respective Restricted Subsidiaries to redeem, defease or otherwise repay or make any offer therefor under any indenture, note, credit agreement or instrument pursuant to which any Material Debt is outstanding or by which any Borrower or any other Obligor or any of their Restricted Subsidiaries or any of their Properties is bound. (c) No Default or Event of Default has occurred and is continuing.

Appears in 2 contracts

Sources: Loan, Security and Guaranty Agreement (Atlas Energy Solutions Inc.), Loan, Security and Guaranty Agreement (Atlas Energy Solutions Inc.)

Compliance with the Laws and Agreements; No Defaults. (a) Each of the Obligors (i) Parent, the Borrower, each Restricted Subsidiary and each DevCo is in compliance with (A) all Applicable Laws Governmental Requirements applicable to it or its Property or to the construction of the Sand Facility Improvements, and (B) all agreements and other instruments binding upon it or its Property, and (ii) possesses all licenses, permits, franchises, exemptions, approvals and other governmental authorizations, in each case, authorizations necessary for the ownership of its Property, the construction of the Sand Facility Improvements, Property and the conduct of its business, except where the failure to do so, individually or in the aggregate, would could not reasonably be expected to result in a Material Adverse Effect. (b) There exists no None of the Parent, the Borrower, each Restricted Subsidiary and each DevCo is in default or nor has any event or circumstance thatoccurred which, but for the expiration of any applicable grace period or the giving of notice, or both, would result in or permit the acceleration of the maturity of constitute a default or would require the Parent, the Borrower, any Borrower Restricted Subsidiary or any other Obligor or any of their respective Restricted Subsidiaries DevCo to redeem, defease or otherwise repay Redeem or make any offer therefor to Redeem under any indenture, note, credit agreement or instrument pursuant to which any Material Debt Indebtedness is outstanding or by which any the Borrower or any other Obligor or any of their Restricted Subsidiaries Subsidiary or any of their Properties is bound. (c) No Default or Event of Default has occurred and is continuing.

Appears in 2 contracts

Sources: Credit Agreement (Oasis Midstream Partners LP), Credit Agreement (Oasis Midstream Partners LP)

Compliance with the Laws and Agreements; No Defaults. (a) Each of the Obligors (i) Borrower and each Subsidiary is in compliance compliance, and its Properties and business operations are in compliance, with (A) all Applicable Laws applicable to it or its Property or to the construction of the Sand Facility Improvements(including ERISA, Environmental Laws, FLSA, OSHA, Anti-Terrorism Laws, and (B) laws regarding collection and payment of Taxes), and all agreements and other instruments binding upon it or its Property, and (ii) possesses all licenses, permits, franchises, exemptions, approvals and other governmental authorizations, in each case, authorizations necessary for the ownership of its Property, the construction of the Sand Facility Improvements, Property and the conduct of its business, except where the failure to do soso (other than failure to comply with Anti-Terrorism Laws), individually or in the aggregate, would could not reasonably be expected to result in a Material Adverse Effect. There have been no citations, notices or orders of material noncompliance issued to any Borrower or Subsidiary under any Applicable Law. No Inventory has been produced in violation of the FLSA. (b) There exists no default None of the Borrowers or any Restricted Subsidiary is in default, nor has any event or circumstance thatoccurred which, but for the expiration of any applicable grace period or the giving of notice, or both, would result in or permit the acceleration of the maturity of constitute a default or would require any Borrower or any other Obligor or any of their respective a Restricted Subsidiaries Subsidiary to redeem, defease or otherwise repay redeem or make any offer therefor to redeem, under any indenture, note, credit agreement, instrument or other agreement or instrument pursuant to which any Material Debt is outstanding or by which which, any Borrower or any other Obligor or any of their Restricted Subsidiaries Subsidiary or any of their Properties is bound. (c) No Default or Event of Default has occurred and is continuing.

Appears in 1 contract

Sources: Loan and Security Agreement (Par Pacific Holdings, Inc.)

Compliance with the Laws and Agreements; No Defaults. (a) Each of the Obligors (i) Borrower and its Subsidiaries is in compliance in all material respects with (A) all Applicable Laws Governmental Requirements applicable to it or its Property or to the construction Property. Each of the Sand Facility ImprovementsBorrower and its Subsidiaries is in compliance with all indentures, and (B) all agreements and other instruments binding upon it or its Property, and (ii) possesses all licenses, permits, franchises, exemptions, approvals and other governmental authorizations, in each case, authorizations necessary for the ownership of its Property, the construction of the Sand Facility Improvements, Property and the conduct of its business, except where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect. (b) There exists no Neither the Borrower nor any Subsidiary is in default or under, nor has any event or circumstance thatoccurred which, but for the expiration of any applicable grace period or the giving of notice, or both, would result in or permit the acceleration of the maturity of constitute a default under, or would require any the Borrower or any other Obligor or any of their respective Restricted Subsidiaries such Subsidiary to redeem, defease or otherwise repay Redeem or make any offer therefor under to do any of the foregoing under, any indenture, note, credit agreement or similar instrument pursuant to which any Material Debt or the Preferred Stock is outstanding or by which any the Borrower or any other Obligor or any of their Restricted its Subsidiaries or any of their Properties is bound. (c) No Default or Event of Default has occurred and is continuing.

Appears in 1 contract

Sources: Credit Agreement (Comstock Resources Inc)

Compliance with the Laws and Agreements; No Defaults. (a) Each of the Obligors (i) Borrower and each Restricted Subsidiary is in compliance compliance, and its Properties and business operations are in compliance, with (A) all Applicable Laws applicable to it or its Property or to the construction of the Sand Facility ImprovementsLaw (including ERISA, Environmental Laws, FLSA, OSHA, Anti-Terrorism Laws, and (B) laws regarding collection and payment of Taxes), and all agreements and other instruments binding upon it or its Property, and (ii) possesses all licenses, permits, franchises, exemptions, approvals and other governmental authorizations, in each case, authorizations necessary for the ownership of its Property, the construction of the Sand Facility Improvements, Property and the conduct of its business, except where the failure to do soso (other than failure to comply with Anti-Terrorism Laws), individually or in the aggregate, would could not reasonably be expected to result in a Material Adverse Effect. Except for the FCPA Settlement, there have been no citations, notices or orders of material noncompliance issued to any Borrower or Subsidiary under any Applicable Law. No Inventory has been produced in violation of the FLSA. (b) There exists no default None of the Borrowers or any Restricted Subsidiary is in default, nor has any event or circumstance thatoccurred which, but for the expiration of any applicable grace period or the giving of notice, or both, would result in or permit the acceleration of the maturity of constitute a default or would require any Borrower or any other Obligor or any of their respective a Restricted Subsidiaries Subsidiary to redeem, defease or otherwise repay redeem or make any offer therefor to redeem under any material indenture, note, credit agreement or instrument pursuant to which any Material Debt is outstanding or by which any Borrower or any other Obligor or any of their Restricted Subsidiaries Subsidiary or any of their Properties is bound. (c) No Default or Event of Default has occurred and is continuing.

Appears in 1 contract

Sources: Loan Agreement (Key Energy Services Inc)

Compliance with the Laws and Agreements; No Defaults. (a) Each of the Obligors (i) Borrower and each Restricted Subsidiary is in compliance with (A) all Applicable Laws Governmental Requirements applicable to it or its Property or to the construction of the Sand Facility Improvements, and (B) all agreements and other instruments binding upon it or its Property, and (ii) possesses all licenses, permits, franchises, exemptions, approvals and other governmental authorizations, in each case, authorizations necessary for the ownership of its Property, the construction of the Sand Facility Improvements, Property and the conduct of its business, except where the failure to do soso comply or possess, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect. (b) There exists no Neither the Borrower nor any Restricted Subsidiary is in default or nor has any event or circumstance thatoccurred which, but for the expiration of any applicable grace period or the giving of notice, or both, would result in or permit the acceleration of the maturity of constitute a default or would require any the Borrower or any other Obligor or any of their respective a Restricted Subsidiaries Subsidiary to redeem, defease or otherwise repay Redeem or make any offer therefor to Redeem under any indenture, note, credit agreement or instrument pursuant to which (i) evidencing or securing any Material Debt is outstanding Indebtedness or (ii) by which any the Borrower or any other Obligor or any of their Restricted Subsidiaries Subsidiary or any of their Properties is boundbound and (with respect to this clause (ii) only) which default, event or circumstance would reasonably be expected to result in a Material Adverse Effect. (c) No Default or Event of Default has occurred and is continuing.

Appears in 1 contract

Sources: Credit Agreement (Energen Corp)

Compliance with the Laws and Agreements; No Defaults. (a) Each of the Obligors (i) Borrower and each Subsidiary is in compliance compliance, and its Properties and business operations are in compliance, with (A) all Applicable Laws applicable to it or its Property or to the construction of the Sand Facility Improvements(including ERISA, Environmental Laws, FLSA, OSHA, Anti-Terrorism Laws, and (B) laws regarding collection and payment of Taxes), and all agreements and other instruments binding upon it or its Property, and (ii) possesses all licenses, permits, franchises, exemptions, approvals and other governmental authorizations, in each case, authorizations necessary for the ownership of its Property, the construction of the Sand Facility Improvements, Property and the conduct of its business, except where the failure to do soso (other than failure to comply with Anti-Terrorism Laws), individually or in the aggregate, would could not reasonably be expected to result in a Material Adverse Effect. There have been no citations, notices or orders of material noncompliance issued to any Borrower or Subsidiary under any Applicable Law. No Inventory has been produced in violation of the FLSA. (b) There exists no default None of the Borrowers or any Restricted Subsidiary is in default, nor has any event or circumstance thatoccurred which, but for the expiration of any applicable grace period or the giving of notice, or both, would result in or permit the acceleration of the maturity of constitute a default or would require any Borrower or any other Obligor or any of their respective a Restricted Subsidiaries Subsidiary to redeem, defease or otherwise repay prepay or make any offer therefor to redeem or prepay, under any indenture, note, credit agreement, instrument or other agreement or instrument pursuant to which any Material Debt is outstanding or by which which, any Borrower or any other Obligor or any of their Restricted Subsidiaries Subsidiary or any of their Properties is bound. (c) No Default or Event of Default has occurred and is continuing.

Appears in 1 contract

Sources: Loan and Security Agreement (Par Pacific Holdings, Inc.)