Common use of Additional Collateral; Further Assurances Clause in Contracts

Additional Collateral; Further Assurances. (a) The Company represents that there are no Significant Subsidiaries as of the Closing Date. Subject to applicable law, each Loan Party shall, unless the Required Lenders otherwise consent, cause each Significant Subsidiary of the Borrower formed or acquired after the Closing Date in accordance with the terms of this Agreement to (1) become a party to this Agreement by executing the Joinder Agreement set forth as Exhibit H hereto (the "Joinder Agreement"), (2) guarantee payment and performance of the Guaranteed Obligations pursuant to the Guaranty. (b) Upon the request of the Agent, each Loan Party shall (i) grant Liens to the Agent, for the benefit of the Agent and the Lenders, pursuant to such documents as the Agent may reasonably deem necessary and deliver such property, documents, and instruments as the Agent may request to perfect the Liens of the Agent in any Property of such Loan Party which constitutes Collateral, and (ii) in connection with the foregoing requirements, or either of them, deliver to the Agent all items of the type required by Section 4.1 (as applicable). Upon execution and delivery of such Loan Documents and other instruments, certificates, and agreements, each such Person shall automatically become a Guarantor hereunder and thereupon shall have all of the rights, benefits, duties, and obligations in such capacity under the Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Covansys Corp)

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Additional Collateral; Further Assurances. (a) The Company represents that there are no Significant Subsidiaries as of the Closing Date. Subject to applicable lawRequirements of Law, each Loan Party shall, unless the Required Lenders otherwise consent, Borrower shall cause each Significant any Subsidiary of the Borrower formed or acquired after the Closing Date in accordance with the terms of this Agreement to (1) become a party to this Agreement by executing the Joinder Agreement set forth as Exhibit H hereto (the "Joinder Agreement")Parent to, (2) guarantee payment and performance of the Guaranteed Obligations pursuant to the Guaranty. (b) Upon upon the request of the Agent, each Loan Party shall (i) grant Liens to the Agent, for the benefit of the Agent and the Lenders, pursuant to such documents as the Agent may reasonably deem necessary and deliver such property, documents, and instruments as the Agent may request to perfect the Liens of the Agent in any Property property of such Loan Party which constitutes CollateralSubsidiary (ii) execute a Guaranty of the Obligations, in form and substance satisfactory to the Agent, and (iiiii) in connection with the foregoing requirements, or either of them, deliver to the Agent all items of the type required by Section 4.1 8.1(a) (as applicable). Upon execution and delivery of such Loan Documents and other instruments, certificates, and agreements, each such Person Subsidiary shall automatically become a Guarantor Borrower hereunder and thereupon shall have all of the rights, benefits, duties, and obligations in such capacity under the Loan Documents. (b) In the event that any Borrower shall obtain executed “Junior Subordination Agreements” from any “Junior Lenders” as required by Section 7.1(m) of the CapitalSource Subordinated Debt Agreement, such Borrower shall do so only on the condition that the Debt of such Borrower to such Junior Lenders is subordinated to the Obligations to at least the same extent as the Subordinated Debt is subordinated to the Obligations, in each case on terms and conditions satisfactory to the Agent in its absolute discretion. (c) Without limiting the foregoing, the Borrowers shall, and shall cause each of the Parent’s Subsidiaries to, execute and deliver, or cause to be executed and delivered, to the Agent such documents and agreements, and shall take or cause to be taken such actions as the Agent may, from time to time, reasonably request to carry out the terms and conditions of this Agreement and the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Encore Medical Corp)

Additional Collateral; Further Assurances. (a) The Company represents that there are no Significant Subsidiaries as of the Closing Date. Subject to applicable lawRequirements of Law, each Loan Obligated Party shall, unless the Required Majority Revolving Lenders (or after the Revolving Facility Payment In Full, the Majority Term Lenders) otherwise consentconsent in writing, cause each Significant Subsidiary of the Borrower formed or acquired after the Closing Date in accordance with the terms of this Agreement Xxxxx to (1) become a party to this Agreement by executing the Joinder Agreement set forth as Exhibit H hereto (the "Joinder Agreement"), (2) guarantee payment and performance of the Guaranteed Obligations pursuant to the GuarantyGuarantor. (b) Upon the request of either of the AgentAgents, each Loan Obligated Party shall (i) grant Liens to the Collateral Agent, for the benefit of the Agent and the LendersCredit Providers, pursuant to such documents agreements, certificates, documents, and instruments as such Agent, as the Agent case may be, may reasonably deem necessary and deliver such property, agreements, certificates, documents, and instruments as such Agent, as the Agent case may be, may request to perfect the Liens of the Collateral Agent in any Property property of such Loan Obligated Party which that constitutes Collateral, (ii) execute a Guaranty Agreement as required by Section 8.24, and (iiiii) in connection with the foregoing requirements, or either of them, deliver to the Agent Agents all items of the type required by Section 4.1 9.1 (as applicable)) and such other items as either Agent may reasonably request. Upon execution and delivery of such Loan Documents and other instrumentsagreements, certificates, documents, and agreementsinstruments, each such Person shall automatically become a Guarantor hereunder and thereupon shall have all of the rights, benefits, duties, and obligations in such capacity under the Loan Documents. (c) Without limiting the foregoing, each Obligated Party shall, and shall cause each of Xxxxx’x Subsidiaries that is required to become an Obligated Party pursuant to the terms of this Agreement to, execute and deliver, or cause to be executed and delivered, to the Agents such documents and agreements, and shall take or cause to be taken such actions as either of the Agents may, from time to time, reasonably request to carry out the terms and conditions of this Agreement and the other Loan Documents.

Appears in 1 contract

Samples: Loan and Security Agreement (Ahern Rentals Inc)

Additional Collateral; Further Assurances. (a) The Company represents that there are no Significant Subsidiaries as of the Closing Date. Subject to applicable lawRequirements of Law, each Loan Party shall, unless the Required Lenders otherwise consent, Borrower shall cause each Significant any Subsidiary of the Borrower formed or acquired after the Closing Date in accordance with the terms of this Agreement to (1) become a party to this Agreement by executing the Joinder Agreement set forth as Exhibit H hereto (the "Joinder Agreement")Parent to, (2) guarantee payment and performance of the Guaranteed Obligations pursuant to the Guaranty. (b) Upon upon the request of the Agent, each Loan Party shall (i) grant Liens to the Agent, for the benefit of the Agent and the Lenders, pursuant to such documents as the Agent may reasonably deem necessary and deliver such property, documents, and instruments as the Agent may request to perfect the Liens of the Agent in any Property property of such Loan Party which constitutes CollateralSubsidiary (ii) execute a Guaranty of the Obligations, in form and substance satisfactory to the Agent, and (iiiii) in connection with the foregoing requirements, or either of them, deliver to the Agent all items of the type required by Section 4.1 8.1(a) (as applicable). Upon -------------- execution and delivery of such Loan Documents and other instruments, certificates, and agreements, each such Person Subsidiary shall automatically become a Guarantor Borrower hereunder and thereupon shall have all of the rights, benefits, duties, and obligations in such capacity under the Loan Documents. (b) Without limiting the foregoing, the Borrowers shall, and shall cause each of the Parent's Subsidiaries to, execute and deliver, or cause to be executed and delivered, to the Agent such documents and agreements, and shall take or cause to be taken such actions as the Agent may, from time to time, reasonably request to carry out the terms and conditions of this Agreement and the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Encore Medical Corp)

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Additional Collateral; Further Assurances. (a) The Company represents that there are no Significant Subsidiaries as of the Closing Date. Subject to applicable lawRequirements of Law, each Loan Party shall, unless the Required Lenders otherwise consent, cause each Significant Subsidiary of the Borrower formed or acquired after the Closing Date in accordance with the terms of this Agreement to (1) become a party to this Agreement by executing the Joinder Agreement set forth as Exhibit H hereto (the "Joinder Agreement"), (2) guarantee payment and performance of the Guaranteed Obligations required pursuant to the Guaranty. (b) Upon Section 7.20, upon the request of the Agent, each Loan Party shall cause any Subsidiary of the Parent to (i) grant Liens to the Agent, for the benefit of the Agent and the Lenders, pursuant to such documents as the Agent may reasonably deem necessary and deliver such property, documents, and instruments as the Agent may request to perfect the Liens of the Agent in any Property property of such Loan Party which constitutes CollateralSubsidiary (ii) execute a Guaranty of the Obligations, in form and substance satisfactory to the Agent, and (iiiii) in connection with the foregoing requirements, or either of them, deliver to the Agent all items of the type required by Section 4.1 8.1(a) (as applicable). Upon execution and delivery of such Loan Documents and other instruments, certificates, and agreements, each such Person Subsidiary shall automatically become a Guarantor Loan Party hereunder and thereupon shall have all of the rights, benefits, duties, and obligations in such capacity under the Loan Documents. (b) Without limiting the foregoing, the Loan Parties shall, and shall cause each of the Parent's Subsidiaries which is required to become a Loan Party pursuant to the terms of this Agreement to, execute and deliver, or cause to be executed and delivered, to the Agent such documents and agreements, and shall take or cause to be taken such actions as the Agent may, from time to time, reasonably request to carry out the terms and conditions of this Agreement and the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Brown Shoe Co Inc/)

Additional Collateral; Further Assurances. (a) The Company represents that there are no Significant Subsidiaries as of the Closing Date. Subject to applicable lawRequirements of Law, each Loan Obligated Party shall, unless the Required Majority Lenders otherwise consentconsent in writing, cause each Significant Subsidiary of the Borrower formed or acquired after the Closing Date in accordance with the terms of this Agreement Xxxxx to (1) become a party to this Agreement by executing the Joinder Agreement set forth as Exhibit H hereto (the "Joinder Agreement"), (2) guarantee payment and performance of the Guaranteed Obligations pursuant to the GuarantyGuarantor. (b) Upon the request of either of the AgentAgents, each Loan Obligated Party shall (i) grant Liens to the Collateral Agent, for the benefit of the Agent and the LendersCredit Providers, pursuant to such documents agreements, certificates, documents, and instruments as such Agent, as the Agent case may be, may reasonably deem necessary and deliver such property, agreements, certificates, documents, and instruments as such Agent, as the Agent case may be, may request to perfect the Liens of the Collateral Agent in any Property property of such Loan Obligated Party which that constitutes Collateral, (ii) execute a Guaranty Agreement as required by Section 8.24, and (iiiii) in connection with the foregoing requirements, or either of them, deliver to the Agent Agents all items of the type required by Section 4.1 9.1 (as applicable). Upon execution and delivery of such Loan Documents and other instrumentsagreements, certificates, documents, and agreementsinstruments, each such Person shall automatically become a Guarantor hereunder and thereupon shall have all of the rights, benefits, duties, and obligations in such capacity under the Loan Documents. (c) Without limiting the foregoing, each Obligated Party shall, and shall cause each of Xxxxx’x Subsidiaries that is required to become an Obligated Party pursuant to the terms of this Agreement to, execute and deliver, or cause to be executed and delivered, to the Agents such documents and agreements, and shall take or cause to be taken such actions as either of the Agents may, from time to time, reasonably request to carry out the terms and conditions of this Agreement and the other Loan Documents.

Appears in 1 contract

Samples: Loan and Security Agreement (Ahern Rentals Inc)

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