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201007999
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Last modified
1/11/2011 2:17:00 PM
Creation date
10/29/2010 8:53:42 AM
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DEEDS
Inst Number
201007999
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201007999 <br />INDEMNIFIED PARTY WITH RESPECT TU ALL CLAIMS, DEMANDS, <br />LTASILITIES, L�SSES, DAMAGES (INCLUDING WITHOUT LIMITATION <br />CONSEQUENTIAL DAMAGES), CAUSES OF ACTTON, JUDGMENTS, PENALTIES, <br />COSTS AND EXPENSES (INCLUDING WITHOUT LIMITATION REASONABLE <br />ATTORNEYS' FEES AND EXPENSES) WHICH IN WHOLE OR �N PART ARE <br />CAUSED BY �R ARISE OUT OF THE NEGLIGENCE UF SUCH (AND/OR ANY <br />OTHER) INDEMNIFIED PARTY. However, such indemnities shall not apply to any <br />particular indemnified party (but shall apply ta the ather indemnified parties) to the extent the <br />subject of the indemnification is caused by or arises out of the gross n�gli�ence or willful <br />misconduct of such particular indemnified party. <br />Section 3.4. Mort a ar's Absolute Obli ation to Pa Note. Nothing herein contained <br />shall detract from or limit the obligations of Mortgagor to make prompt payment af the Notes, <br />and any and all ather secured indebtedness, at the time and in the manner provided hearein, in the <br />Loan Documents, any Specified Swap Agreement, and any Specified Cash Managernent <br />Agreement, regardless of whether the Rents herein assigned are sufficient to pay same, and the <br />rights under this Article III shall be cumulative af all ather rights under the Loan Documents, <br />any Specified Swap Agreement, and any Specified Cash Management Agreement. <br />Section 3.5. Chan�e of Purchaser. To the extent applicable, and if a default has occurred <br />hereunder and is continuing, should any person now or hereafter purchasing or taking production <br />related ta any Pipeline Syst�m fail to make payment promptly to Administrative Agent of the <br />related production proceeds, Administrative Agent shall, subject to then existing contractual <br />prohibitions, have the right to make, or to require Mortgagor to make, a change of purchaser, and <br />the right to designate or approve the new purchaser, and Administrative Agent shall have na <br />liability or responsibility in connection therewith so long as ordinary care is used in making such <br />designation. <br />Sectian 3.6. Ri�hts LTnder Oklahoma Oil and Gas Owners'. Lien Act. Mortgagor hereby <br />grants, sells, assigns and sets over unta Administrative Agent during the term hereof, all of <br />Mortgagor's rights and interests pursuant to the provisions of the Oil and Gas Owners' Lien Act <br />(OKLA. STAT. tit. 52, §§ 548.1-54$.6 (the "Oklahoma Act"), hereby vesting in Administrative <br />Agent all of Mortgagor's rights as an interest owner to the continuing security interest in and <br />Lien upon the ail or gas severed or the proceeds of sale. Administrative Agent may, at its option, <br />file the verified notice of Lien in order to perfect such Lien, but shall nat be obligated to make <br />such filing and shall not be held liable to Mortgagor for any act or omission pu;rsuant to the <br />�klahoma Act. <br />ARTICLE IV <br />Remedies Utaon Default <br />Section 4.1. Default. The terms "de�ault" and "Default" as used in this Mortgage shaXl <br />mean the occuz of an Event of Default. Upon the occurrence of a default, Administrative <br />Agent at any time and from time to time may without notice to Martgagor or any other person <br />declare any or all of the secured indebtedness immediately due and payable, without relief from <br />29 <br />
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