The Consideration. 2.1 The Borrower agrees, as consideration for the Loan, to: (i) continue to provide the Guarantee as security for the Secured Obligations on the terms set forth in Clause 3 below; (ii) continue to provide the security set forth in the Security Documents for the Secured Obligations on the terms set forth in Clause 4 below; and (iii) compensate the Lender as per the principles set forth in Clause 5 below. 2.2 Further, the Borrower agrees to become party to such further amendments to the Loan Agreement and the Security Documents as shall be required by the Lender to document the terms which shall apply to the amount outstanding thereunder following the completion of the Restructuring.
Appears in 2 contracts
Sources: Contribution, Purchase and Sale Agreement, Loan Agreement
The Consideration. 2.1 (a) The Borrower agrees, as consideration for the Loan, to:
(i) continue to provide the Guarantee as security for the Secured Obligations on the terms set forth in Clause 3 below;
(ii) continue to provide the security set forth in the Security Documents for the Secured Obligations on the terms set forth in Clause 4 below; and
(iii) compensate the Lender as per the principles set forth in Clause 5 below.
2.2 (b) Further, the Borrower agrees to become party to such further amendments to the Loan Agreement and the Security Documents as shall be required by the Lender to document the terms which shall apply to the amount outstanding thereunder following the completion of the Restructuring.
Appears in 1 contract
Sources: Contribution, Purchase and Sale Agreement (Seadrill Partners LLC)