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 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, contemporaneously with acquiring such 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 Landlord Personal Property Collateral Access Agreement for all Leasehold Properties which are Material Real Estate Assets acquired after the Closing Date to the extent commercially reasonable without use of material funds) similar to those described in Sections 3.1(h), 3.1(i) and 3.1(j) with respect to each such Material Real Estate Asset that Lead Arrangers 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 or the Credit Parties have knowledge (it being understood that Borrower shall internally evaluate the value of Real Estate Assets on an annual basis) that a Real Estate Asset owned or leased on the Closing Date has become 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, contemporaneously with acquiring such Material Real Estate Asset, Party 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 Landlord Personal Property Collateral Access Agreement for all Leasehold Properties which are Material Real Estate Assets acquired after the Closing Date to the extent commercially reasonable without use of material funds) similar to those described in Sections 3.1(h) and 3.1(i), 3.1(i) and 3.1(j) together with environmental reports, with respect to each such Material Real Estate Asset that Lead Arrangers 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 Borrower shall, at the reasonable request of Requisite LendersCollateral Agent, 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 the Credit Parties have knowledge (it being understood that Borrower shall internally evaluate the value of Real Estate Assets on an annual basis) that a Real Estate Asset owned or leased on the Closing Date has become 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, contemporaneously with acquiring such Material Real Estate Asset, Party 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 Landlord Personal Property Collateral Access Agreement for all Leasehold Properties which are Material Real Estate Assets acquired after the Closing Date to the extent commercially reasonable without use of material funds) similar to those described in Sections 3.1(h) and 3.1(i), 3.1(i) and 3.1(j) together with environmental reports, with respect to each such Material Real Estate Asset that Lead Arrangers 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 Borrower shall, at the reasonable request of Requisite LendersCollateral Agent, 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, contemporaneously with as soon as practicable but in no event later than thirty (30) days after acquiring such 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 Landlord Personal Property Collateral Access Agreement for all Leasehold Properties which are Material Real Estate Assets acquired after the Closing Date to the extent commercially reasonable without use of material funds) similar to those described in Sections 3.1(h3.1(f), 3.1(i3.1(g) and 3.1(j3.1(h) with respect to each such Material Real Estate Asset that Lead Arrangers 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 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.