Common use of Additional Material Real Estate Assets Clause in Contracts

Additional Material Real Estate Assets. In the event that any Credit Party acquires a Material Real Estate Asset or a Real Estate Asset owned or leased on the Closing Date becomes a Material Real Estate Asset and such interest has not otherwise been made subject to the Lien of the Collateral Documents in favor of Collateral Agent, for the benefit of Secured Parties, then such Credit Party within thirty (30) days of acquiring such Material Real Estate Asset or such Real Estate Asset becoming a Material Real Estate Asset shall take all such actions and execute and deliver, or cause to be executed and delivered, all such mortgages, documents, instruments, agreements, opinions and certificates, including a Mortgage, with respect to each such Material Real Estate Asset that the Requisite Lenders shall reasonably request to create in favor of Collateral Agent, for the benefit of Secured Parties, a valid and, subject to any filing and/or recording referred to herein, perfected First Priority security interest in such Material Real Estate Assets. In addition to the foregoing, Company shall, at the request of Requisite Lenders, deliver, from time to time, to Administrative Agent such appraisals as are required by law or regulation of Real Estate Assets with respect to which Collateral Agent has been granted a Lien.

Additional Material Real Estate Assets. In the event that any Credit Party acquires a Material Real Estate Asset Asset, or a Real Estate Asset owned or leased on the Closing Date becomes a Material Real Estate Asset Asset, and such interest has not otherwise been made subject to the Lien of the Collateral Documents in favor of Collateral Agent, for the benefit of Secured Parties, then such Credit Party within thirty Party, promptly but in any event not more than 60 days (30i) days of after acquiring such Material Real Estate Asset or such Real Estate Asset becoming a (in the case of any Material Real Estate Asset owned by a Credit Party) or (ii) after request by the Collateral Agent (in the case of any Material Real Estate Asset leased by a Credit Party), shall take all such actions and execute and deliver, or cause to be executed and delivered, all such mortgages, documents, instruments, agreements, title policies, landlord waivers and/or estoppels, reports, opinions and certificates, including a Mortgagewhich may include items similar to those described in Sections 3.1(i) and 3.1(j), with respect to each such Material Real Estate Asset that the Requisite Lenders Collateral Agent shall reasonably request to create in favor of Collateral Agent, for the benefit of Secured Parties, a valid and, subject to any filing and/or recording referred to herein, perfected First Priority security interest Lien in such Material Real Estate Assets. In addition to the foregoing, Company shall, at the request of Requisite Lenders, deliver, from time to time, to Administrative Agent such appraisals as are required by law or regulation of Real Estate Assets with respect to which Collateral Agent has been granted a Lien.

Additional Material Real Estate Assets. In the event that any Credit Party acquires a Material Real Estate Asset or a Real Estate Asset owned or leased on the Closing Date becomes a Material Real Estate Asset and such interest has not otherwise been made subject to the Lien of the Collateral Documents in favor of Collateral Agent, for the benefit of Secured Parties, taking into account not to create adverse tax consequences to Xerium in respect of Section 956 of the Internal Revenue Code, then such Credit Party within thirty Party, as soon as practicable but in no event later than twenty (3020) days of after acquiring such Material Real Estate Asset or such Real Estate Asset becoming a Material Real Estate Asset Asset, shall take all such actions and execute and deliver, or cause to be executed and delivered, all such mortgages, documents, instruments, agreements, opinions and certificatescertificates similar to those described in Sections 3.1(i), including a Mortgage, 3.1(j) and 3.1(k) with respect to each such Material Real Estate Asset that the Requisite Lenders Collateral Agent shall reasonably request to create in favor of Collateral Agent, for the benefit of Secured Parties, a valid and, subject to any filing and/or recording referred to herein, perfected First Priority security interest in such Material Real Estate Assets. In addition to the foregoing, Company each Borrower shall, at the request of Requisite LendersBanks, deliver, from time to time, to Administrative Agent such appraisals as are required by law or regulation of Real Estate Assets with respect to which Collateral Agent has been granted a Lien.

Additional Material Real Estate Assets. In At any time after the Exit Facility Conversion Date, in the event that any Credit Party acquires a Material Real Estate Asset Asset, or a Real Estate Asset owned or leased on the Closing Exit Facility Conversion Date becomes a Material Real Estate Asset Asset, other than the Mortgaged Properties, and such interest has not otherwise been made subject to the Lien of the Collateral Documents in favor of Collateral Agent, for the benefit of Secured Parties, then such Credit Party within thirty (30) days of acquiring such Material Real Estate Asset or such Real Estate Asset becoming a Material Real Estate Asset shall promptly take all such actions and execute and deliver, or cause to be executed and delivered, all such mortgages, documents, instruments, agreements, opinions and certificates, including a Mortgage, those which are similar to those described in Sections 3.1(g) and Section 3.5(v) with respect to each such Material Real Estate Asset that the Requisite Lenders Collateral Agent shall reasonably request to create in favor of Collateral Agent, for the benefit of Secured Parties, a valid and, subject to any filing and/or recording referred to herein, perfected First Priority security interest in such Material Real Estate Assets. In addition to the foregoing, Company at any time after the Exit Facility Conversion Date, Borrower shall, at the request of Requisite LendersCollateral Agent, deliver, from time to time, to Administrative Agent Collateral Agent, such appraisals as are required by law or regulation of Real Estate Assets with respect to which Collateral Agent has been granted a Lien.

Additional Material Real Estate Assets. In the event that any Credit Party acquires a Material Real Estate Asset or a Real Estate Asset owned or leased on the Closing Date becomes a Material Real Estate Asset and such interest has not otherwise been made subject to the Lien of the Collateral Documents in favor of Collateral Agent, for the benefit of Secured Parties, then such Credit Party within thirty Party, as soon as practical after and, in any event, no later than sixty (3060) days of after acquiring such Material Real Estate Asset or such Real Estate Asset becoming a Material Real Estate Asset Asset, shall take all such actions and execute and deliver, or cause to be executed and delivered, all such mortgages, documents, instruments, agreements, opinions and certificatescertificates similar to those described in Sections 3.1(i), including a Mortgage, 3.1(j) and 3.1(k) with respect to each such Material Real Estate Asset that the Requisite Lenders Collateral Agent shall reasonably request to create in favor of Collateral Agent, for the benefit of Secured Parties, a valid and, subject to any filing and/or recording referred to herein, perfected First Priority security interest in such Material Real Estate Assets. In addition to the foregoing, the Company shall, at the request of Requisite Lenders, deliver, from time to time, to Administrative Agent such appraisals as are required by law or regulation of Real Estate Assets with respect to which Collateral Agent has been granted a Lien. Notwithstanding the foregoing, perfection of the Collateral shall not be required where the burden of perfecting a security interest, lien or mortgage is reasonably determined by the Collateral Agent to be excessive in relation to the benefit afforded to the Lenders thereby.

Additional Material Real Estate Assets. In the event that any Credit Party other than Autocam Europe or any other Guarantor Foreign Subsidiary acquires a Material Real Estate Asset or a Real Estate Asset owned or leased on the Closing Date becomes a Material Real Estate Asset and such interest has not otherwise been made subject to the Lien of the Collateral Documents in favor of Collateral Agent, for the benefit of Secured Parties, then such Credit Party within thirty (30) days of Party, contemporaneously with acquiring such Material Real Estate Asset or such Real Estate Asset becoming a Material Real Estate Asset Asset, shall take all such actions and execute and deliver, or cause to be executed and delivered, all such mortgages, documents, instruments, agreements, opinions and certificatescertificates similar to those described in Sections 3.1(e), including a Mortgage, and 3.1(f) with respect to each such Material Real Estate Asset that the Requisite Lenders Collateral Agent shall reasonably request to create in favor of Collateral Agent, for the benefit of Secured Parties, a valid and, subject to any filing and/or recording referred to herein, perfected First Second Priority security interest in such Material Real Estate Assets. In addition to the foregoing, Company shall, at the request of Requisite Lenders, deliver, from time to time, to Administrative Agent such appraisals as are required by law or regulation of Real Estate Assets with respect to which Collateral Agent has been granted a Lien.

Additional Material Real Estate Assets. In the event that any Credit Party acquires or leases a Material Real Estate Asset after the Closing Date (other than the Real Estate Asset located at 4021 and 4000 Xxxx 0xx Xxxxxx, Xxxxxxxx, Xxxx 00000) or a Real Estate Asset owned or leased on the Closing Date becomes a Material Real Estate Asset and such interest has not otherwise been made subject to the Lien of the Collateral Documents in favor of Collateral Agent, for the benefit of Secured Parties, then such Credit Party within thirty (30) days of Party, contemporaneously with acquiring such Material Real Estate Asset Asset, or such promptly after a Real Estate Asset becoming owned or leased on the Closing Date becomes a Material Real Estate Asset Asset, shall take all such actions and execute and deliver, or cause to be executed and delivered, all such mortgages, documents, instruments, agreements, environmental reports, opinions and certificates, including a Mortgage, certificates with respect to each such Material Real Estate Asset that the Requisite Lenders Collateral Agent shall reasonably request request, including, without limitation, to create in favor of Collateral Agent, for the benefit of Secured Parties, a valid and, subject to any filing and/or recording referred to herein, perfected First Priority security interest in such Material Real Estate Assets. In addition to the foregoing, Company shall, at the request of Requisite Lenders, deliver, from time to time, to Administrative Agent such appraisals as are required by law or regulation of Real Estate Assets with respect to which Collateral Agent has been granted a Lien.

Additional Material Real Estate Assets. In the event that any Credit Loan Party acquires a Material Real Estate Asset or a Real Estate Asset owned or leased on the Closing Date becomes a Material Real Estate Asset and such interest has not otherwise been made subject to the Lien of the Collateral Documents in favor of Collateral AgentAgents, for the benefit of Secured Parties, then such Credit Loan Party shall within thirty (30) 60 days of after acquiring such Material Real Estate Asset Asset, or such after a Real Estate Asset becoming owned on the Closing Date becomes a Material Real Estate Asset shall Asset, take all such actions and execute and deliver, or cause to be executed and delivered, all such mortgagesMortgages, documents, instruments, agreements, opinions opinions, surveys, Title Policies, “life of loan” flood hazard determinations with executed notices to the Borrower thereto, if applicable, evidence of flood insurance, if applicable, and other certificates, including documents and other information as are reasonably requested by the Agents and necessary to grant and perfect a Mortgage, with respect first priority Lien (subject to each Permitted Liens) on such Material Real Estate Asset that the Requisite Lenders shall reasonably request to create in favor of the Collateral Agent, for the benefit of the Secured Parties, a valid and, subject all in form and substance reasonably acceptable to any filing and/or recording referred to herein, perfected First Priority security interest in such Material Real Estate Assetsthe Agent. In addition to the foregoing, Company Borrowers shall, at the request of Requisite Required Lenders, deliver, from time to time, to Administrative Agent Agents such appraisals as are required by law or regulation of Real Estate Assets with respect to which Collateral Agent has been granted a Lien.

Additional Material Real Estate Assets. In the event that any Credit Party acquires a Material Real Estate Asset after the Closing Date or a Real Estate Asset owned or leased on the Closing Date becomes a Material Real Estate Asset and such interest has not otherwise been made subject to the Lien of the Collateral Documents in favor of Collateral Agent, for the benefit of Secured Parties, then such Credit Party Party, promptly and, in any event, within thirty five (305) days Business Days following the acquisition of acquiring such Material Real Estate Asset Asset, or such promptly and, in any event, within five (5) Business Days after a Real Estate Asset becoming owned or leased on the Closing Date becomes a Material Real Estate Asset Asset, shall take all such actions and execute and deliver, or cause to be executed and delivered, all such mortgages, documents, instruments, agreements, opinions and certificates, including a Mortgage, certificates similar to those described in Section 3.1 with respect to each such Material Real Estate Asset that the Requisite Lenders Collateral Agent shall reasonably request to create in favor of Collateral Agent, for the benefit of Secured Parties, a valid and, subject to any filing and/or recording referred to herein, perfected First Priority security interest in such Material Real Estate AssetsAssets (subject to any Permitted Liens). In addition to the foregoing, Company Holdings shall, at the request of Requisite Lenders, deliver, from time to time, to Administrative Agent such appraisals as are required by law or regulation of Real Estate Assets with respect to which Collateral Agent has been granted a Lien.

Additional Material Real Estate Assets. In the event that any Credit Party acquires a Material Real Estate Asset or a Real Estate Asset owned or leased on the Closing Date becomes a Material Real Estate Asset and such interest has not otherwise been made subject to the First Priority Lien of the Collateral Documents in favor of Collateral Agent, for the benefit of the Term Secured Parties, then such Credit Party within thirty (30) Party, as soon as practical after and, in any event, no later than 30 days of after, acquiring such Material Real Estate Asset or such Real Estate Asset becoming a Material Real Estate Asset Asset, shall take all such actions and execute and deliver, or cause to be executed and delivered, all such mortgages, documents, instruments, agreements, opinions and certificatescertificates similar to those described in Sections 3.1(i), including a Mortgage, 3.1(j) and 3.1(k) with respect to each such Material Real Estate Asset that the Requisite Lenders Collateral Agent shall reasonably request to create in favor of Collateral Agent, for the benefit of Secured Parties, a valid and, subject to any filing and/or recording referred to herein, perfected First Priority security interest Lien in favor of Collateral Agent, for the benefit of the Term Secured Parties, in such Material Real Estate Assets. In addition to the foregoing, Company Borrower shall, at the request of Requisite Lenders, deliver, from time to time, to Administrative Agent such appraisals as are required by law or regulation of Real Estate Assets with respect to which Collateral Agent has been granted a LienLien for the benefit of the Term Secured Parties.

Additional Material Real Estate Assets. In the event that any Credit Loan Party acquires or leases a Material Real Estate Asset or a Real Estate Asset owned or leased on the Closing Date becomes a Material Real Estate Asset and such interest has not otherwise been made subject to the Lien of the Collateral Documents in favor of Collateral Agent, for the benefit of Secured Parties, then such Credit Party Loan Party, within thirty (30) days 10 Business Days of acquiring such Material Real Estate Asset Asset, or such within 10 Business Days after a Real Estate Asset becoming owned or leased on the Closing Date becomes a Material Real Estate Asset Asset, shall take all such actions and execute and deliver, or cause to be executed and delivered, all such mortgages, documents, instruments, agreements, opinions and certificates, including a Mortgage, certificates similar to those described in Sections 3.1(i) and 3.1(j) and item 1 of Schedule 5.16 with respect to each such Material Real Estate Asset that the Requisite Lenders Collateral Agent shall reasonably request to create in favor of Collateral Agent, for the benefit of Secured Parties, a valid and, subject to any filing and/or recording referred to herein, perfected First Priority security interest in such Material Real Estate Assets. In addition to the foregoing, Company shall, at the request of Requisite Required Lenders, deliver, from time to time, to Administrative Collateral Agent such appraisals as are required by law or regulation of Real Estate Assets with respect to which Collateral Agent has been granted a Lien.

Additional Material Real Estate Assets. In the event that any Credit Party acquires a Material Real Estate Asset or a Real Estate Asset owned or leased on the Closing Date becomes a Material Real Estate Asset and such interest has not otherwise been made subject to the Second Priority Lien of the Collateral Documents in favor of Collateral Agent, for the benefit of the Revolving Secured Parties, then such Credit Party within thirty (30) Party, as soon as practical after and, in any event, no later than 30 days of after, acquiring such Material Real Estate Asset or such Real Estate Asset becoming a Material Real Estate Asset Asset, shall take all such actions and execute and deliver, or cause to be executed and delivered, all such mortgages, documents, instruments, agreements, opinions and certificatescertificates similar to those described in Sections 3.1(i), including a Mortgage, 3.1(j) and 3.1(k) with respect to each such Material Real Estate Asset that the Requisite Lenders Collateral Agent shall reasonably request to create in favor of Collateral Agent, for the benefit of Secured Parties, a valid and, subject to any filing and/or recording referred to herein, perfected First Second Priority security interest Lien in favor of Collateral Agent, for the benefit of the Revolving Secured Parties, in such Material Real Estate Assets. In addition to the foregoing, Company Borrower shall, at the request of Requisite Lenders, deliver, from time to time, to Administrative Agent such appraisals as are required by law or regulation of Real Estate Assets with respect to which Collateral Agent has been granted a LienLien for the benefit of the Revolving Secured Parties.

Additional Material Real Estate Assets. In the event that any Credit Loan Party acquires or leases a Material Real Estate Asset or a Real Estate Asset owned or leased on the Closing Date becomes a Material Real Estate Asset and such interest has not otherwise been made subject to the Lien of the Collateral Documents in favor of Collateral Agent, for the benefit of Secured Parties, then such Credit Party within thirty (30) days of Loan Party, contemporaneously with acquiring such Material Real Estate Asset Asset, or such promptly after a Real Estate Asset becoming owned or leased on the Closing Date becomes a Material Real Estate Asset Asset, shall take all such actions and execute and deliver, or cause to be executed and delivered, all such mortgages, documents, instruments, agreements, opinions and certificates, including a Mortgage, certificates similar to those described in Sections 3.1(i) and Schedule 5.16 with respect to each such Material Real Estate Asset that the Requisite Lenders Collateral Agent shall reasonably request to create in favor of Collateral Agent, for the benefit of Secured Parties, a valid and, subject to any filing and/or recording referred to herein, perfected First Priority security interest in such Material Real Estate Assets. In addition to the foregoing, Company shall, at the request of Requisite Required Lenders, deliver, from time to time, to Administrative Collateral Agent such appraisals as are required by law or regulation of Real Estate Assets with respect to which Collateral Agent has been granted a Lien.

Additional Material Real Estate Assets. In the event that any Credit Party acquires a Material Real Estate Asset or a Real Estate Asset owned or leased on the Closing Date becomes a Material Real Estate Asset and such interest has not otherwise been made subject to the Lien of the Collateral Documents in favor of Collateral Agent, for the benefit of Secured Parties, then such Credit Party within thirty Party, as soon as practical after and, in any event, no later than sixty (3060) days of after acquiring such Material Real Estate Asset or such Real Estate Asset becoming a Material Real Estate Asset Asset, shall take all such actions and execute and deliver, or cause to be executed and delivered, all such mortgages, documents, instruments, agreements, opinions and certificatescertificates similar to those described in Sections 3.1(i), including a Mortgage, 3.1(j) and 3.1(k) with respect to each such Material Real Estate Asset (provided, that, in the case of Leasehold Properties, the applicable Credit Party shall use its commercially reasonable efforts to obtain the foregoing documents, as applicable) that the Requisite Lenders Collateral Agent shall reasonably request to create in favor of Collateral Agent, for the benefit of Secured Parties, a valid and, subject to any filing and/or recording referred to herein, perfected First Priority security interest in such Material Real Estate Assets. In addition to the foregoing, the Company shall, at the request of Requisite Lenders, deliver, from time to time, to Administrative Agent such appraisals as are required by law or regulation of Real Estate Assets with respect to which Collateral Agent has been granted a Lien.