Common use of Additional Guarantors and Security Clause in Contracts

Additional Guarantors and Security. Upon the request of the Agent following the formation or acquisition of any new direct or indirect Subsidiaries approved by the Agent by either Guarantor or the acquisition of any property by either Guarantor, and such property, in the judgment of the Agent, shall not already be subject to a perfected first priority security interest in favor of the Agent for the benefit of the Noteholders, then in each case at such Guarantor’s expense: (i) in connection with the formation or acquisition of a Subsidiary, within ten (10) days after such formation or acquisition, cause each such Subsidiary, and cause each direct and indirect parent of such Subsidiary (if it has not already done so), to duly execute and deliver to the Agent a supplement to the Guaranty, or other similar guaranty in form and substance satisfactory to the Agent, guaranteeing the Note Indebtedness; and (ii) within fifteen (15) days after such request, formation or acquisition, duly execute and deliver, and cause each such Subsidiary and each direct and indirect parent of such Subsidiary to duly execute and deliver to the Agent mortgages, pledges, assignments, security interests and other security agreements, as specified by and in form and substance satisfactory to Agent (including delivery of all Capital Stock in and of such Subsidiary, and other instruments requested by the Agent in connection therewith, in each case, securing payment of all Note Indebtedness.

Additional Guarantors and Security. Upon the request of the Agent following the formation or acquisition of any new direct or indirect Subsidiaries approved by the Agent by either Guarantor a Borrower or any other Obligor or the acquisition of any property by either Guarantora Borrower or another Obligor, and such property, in the judgment of the Agent, shall not already be subject to a perfected first priority security interest in favor of the Agent for the benefit of the NoteholdersLenders, then in each case at such GuarantorBorrower's or such Obligor’s expense: (i) in connection with the formation or acquisition of a Subsidiary, within ten (10) days after such formation or acquisition, cause each such Subsidiary, and cause each direct and indirect parent of such Subsidiary (if it has not already done so), to duly execute and deliver to the Agent a joinder to this Agreement and a supplement to the Guaranty, or other similar guaranty in form and substance satisfactory to the Agent, guaranteeing the Note Loan Indebtedness; and (ii) within fifteen (15) days after such request, formation or acquisition, duly execute and deliver, and cause each such Subsidiary and each direct and indirect parent of such Subsidiary to duly execute and deliver to the Agent mortgages, pledges, assignments, security interests and other security agreements, as specified by and in form and substance satisfactory to Agent (including delivery of all Capital Stock in and of such Subsidiary), and other instruments requested by the Agent in connection therewith, in each case, securing payment of all Note Loan Indebtedness.

Additional Guarantors and Security. Upon the request of the Agent following the formation or acquisition of any new direct or indirect Subsidiaries approved by the Agent by either Guarantor Borrower or the acquisition of any property by either GuarantorBorrower, and such property, in the judgment of the Agent, shall not already be subject to a perfected first priority security interest in favor of the Agent for the benefit of the Noteholders, then in each case at such Guarantor’s the Borrower's expense: (i) in connection with the formation or acquisition of a Subsidiary, within ten (10) days after such formation or acquisition, cause each such Subsidiary, and cause each direct and indirect parent of such Subsidiary (if it has not already done so), to duly execute and deliver to the Agent a supplement to the Guaranty, or other similar guaranty in form and substance satisfactory to the Agent, guaranteeing the Note Indebtedness; and (ii) within fifteen (15) days after such request, formation or acquisition, duly execute and deliver, and cause each such Subsidiary and each direct and indirect parent of such Subsidiary to duly execute and deliver to the Agent mortgages, pledges, assignments, security interests and other security agreements, as specified by and in form and substance satisfactory to Agent (including delivery of all Capital Stock in and of such Subsidiary, and other instruments requested by the Agent in connection therewith, in each case, securing payment of all Note Indebtedness.