The Reorganisation. (a) has been carried out, to the extent applicable, in accordance with the constitutional documents of both Resaca LP and the Company and all applicable laws and the Company has made all necessary filings with the relevant authorities; and (b) has not resulted in, and will not with the lapse of time result in: (i) the Company or Resaca LP being, or having been, in default under any agreement, arrangement or undertaking to which either of them are or were a party or of any other obligations or restrictions binding upon either of them; (ii) the invalidity, or grounds for rescission, avoidance or termination, of any agreement or other transaction to which the Company is, or Resaca LP was, a party; or (iii) any Encumbrance over any asset of Resaca LP or the Company crystallising or becoming enforceable or any present or future indebtedness of the Company becoming due and payable prior to its stated maturity.
Appears in 2 contracts
Sources: Placing Agreement (Resaca Exploitation, Inc.), Placing Agreement (Resaca Exploitation, Inc.)