Common use of New Parent Clause in Contracts

New Parent. On the IPO Related Corporate Reorganization Effective Date, Borrower shall cause New Parent to execute and deliver to Administrative Agent, in each case in form and substance reasonably satisfactory to the Administrative Agent, (a) such supplements to and/or reaffirmations of the Facility Guaranty and the Security Agreement that Administrative Agent may reasonably request, which documents and agreements will provide that (i) one hundred percent (100%) of the issued and outstanding Equity of Borrower will continue to be pledged to Administrative Agent for the benefit of the Banks to secure the Obligations as required by Section 5.1(a) and (ii) New Parent will, and as a successor by merger to the obligations of Laredo Petroleum, LLC, will continue to, guarantee payment and performance of the Obligations as required by Section 5.3, and (b) such other additional UCC-1 financing statements, closing documents, certificates, authorizing resolutions, organizational documents of New Parent, and legal opinions that Administrative Agent may reasonably request.”