Credit Supports Clause Samples
The Credit Supports clause establishes the requirements for parties to provide financial assurances or collateral to secure their obligations under an agreement. In practice, this may involve posting cash, letters of credit, or other acceptable forms of security, and it typically outlines the conditions under which such support must be provided, maintained, or returned. The core function of this clause is to mitigate credit risk by ensuring that each party has adequate financial backing, thereby protecting against potential default or non-performance.
Credit Supports one or more agreements constituting Credit Supports, duly executed and delivered by the Borrower and the Lender. In addition, the Borrowers shall have taken such other action as the Lender shall have requested in order to perfect the security interests created pursuant to the Agreement; and
Credit Supports. The Credit Supports entered by the Lender shall be evidenced by such Credit
Credit Supports. As of the date hereof, Schedule 5.11 of the Disclosure Schedules sets forth a complete and accurate list of all credit support provided by Seller or any of its Affiliates to any other Person with respect to the Company Group, the Non-Controlled Joint Ventures Group, the Projects, the business of each member of the Company Group and the Non-Controlled Joint Ventures Group, or the Material Contracts.
Credit Supports. Seaboard agrees to maintain in place after Closing those letters of credit, guarantees, performance bonds and other credit support facilities described on Exhibit 10.7, except to the extent prior to Closing ConAgra notifies Seaboard otherwise (such continuing letters of credit, guarantees, performance bonds and other credit support facilities collectively referred to as the "Credit Facilities"), provided, however, Seaboard shall only be obligated to maintain the Credit Facilities in place for sixty (60) days after the Closing. ConAgra shall reimburse Seaboard and the Seaboard Subsidiaries for all out-of-pocket costs and expenses required to be made by Seaboard and the Seaboard Subsidiaries in maintaining the Credit Facilities. ConAgra shall indemnify and hold Seaboard and the Seaboard Subsidiaries harmless with respect to claims made under the Credit Facilities after Closing for events occurring after Closing.
Credit Supports. The Credit Supports entered by the Lender shall be --------------- evidenced by such Credit Support Documents as the Lender may from time to time approve.
Credit Supports. Prior to the Closing, each of Torch and United shall use reasonable best efforts to cause United or its Subsidiaries to be substituted in all respects for Torch and each of its Subsidiaries (other than the ContentCo Entities), and for Torch and such Subsidiaries of Torch to be released, effective as of the Closing, in respect of all obligations under or arising out of any guarantee, indemnity, surety bond, letter of credit, bank guarantee, keepwell agreement, consumer financing arrangements, or other similar commitment, understanding, agreement or obligation of any ContentCo Entity (for the sake of clarity, including any of the foregoing in respect of a World Cup Contract) (“ContentCo Credit Supports”). For any ContentCo Credit Support for which such substitution and release is not effected as of the Closing, United shall and shall cause its Subsidiaries to, indemnify and hold harmless Torch and its subsidiaries against any losses arising out such ContentCo Credit Supports.