Pledge of Ownership Interests Sample Clauses
Pledge of Ownership Interests. [Note to bidders: This section is applicable only if Seller is a special purpose entity.] Concurrently with the execution of this Agreement, Seller’s equity holders shall execute and file such agreements, documents, instruments, and other writings as Buyer may request, all in form and substance satisfactory to Buyer, to give Buyer a perfected security interest in and lien on all ownership interests in Seller as security for Seller’s performance and any amounts owed by Seller to Buyer pursuant to this Agreement (the “Pledge Interest”). The Pledge Interest shall be subordinate in right of payment, priority and remedies only to the interests of the financiers for the Facility contemplated by Section 2.2.3 and approved by Buyer.
Pledge of Ownership Interests. Subparagraph (1) of Subsection (b) of Section 6 of the Loan Agreement is hereby amended to read as follows:
(1) not sell, transfer, pledge, encumber, or otherwise dispose of all or any interest in GHMR Operations, L.L.C. and shall exercise commercially reasonable efforts to ensure that VPROP Operating, LLC, a Delaware limited liability company (“Term Loan Borrower”) does not sell, transfer, pledge, encumber, or otherwise dispose of all or any interest in MAALT or General Partner, other than any such pledge in favor of Ares Capital Corporation, in its capacity as administrative agent (“Term Agent”), to secure the obligations under the Amended and Restated Senior Secured Credit Agreement executed by Term Agent, the Lenders (as defined therein), Term Loan Borrower, and other parties thereto, dated as of November 9, 2017 (as may be amended, restated, supplemented, renewed or otherwise modified from time to time in accordance with that certain Amended and Restated Intercreditor Agreement dated as of November 9, 2017, by and among Lender, Term Agent, and Term Loan Borrower, together with any other agreements pursuant to which any of the Indebtedness (as defined therein), commitments, obligations, costs, expenses, fees, reimbursements, indemnities or other obligations payable or owing thereunder may be refinanced, restructured, renewed, extended, increased, refunded or replaced, the “Term Credit Agreement”).” MAALT, L.P. GHMR OPERATIONS, L.L.C. November 3, 2017
Pledge of Ownership Interests. On or before the Effective Date, Seller’s equity holders shall execute and file such agreements, documents, instruments, and other writings as PacifiCorp may request, all in form and substance satisfactory to PacifiCorp, to give PacifiCorp a perfected security interest in and lien on all ownership interests in Seller as security for Seller’s performance and any amounts owed by Seller to PacifiCorp pursuant hereto (the “Pledge Interest”). The Pledge Interest shall be subordinate in right of payment, priority and remedies only to the interests of the Senior Lenders.