Common use of Additional Security; Further Assurances Clause in Contracts

Additional Security; Further Assurances. (a) The Borrower will, and will cause its Subsidiaries to, grant to the Collateral Agent security interests and mortgages in material Real Property acquired after the Initial Borrowing Date as may be requested from time to time by the Administrative Agent (collectively, the "Additional Mortgages"). All such security interests and mortgages shall be granted pursuant to documentation reasonably satisfactory in form and substance to the Administrative Agent and shall constitute valid and enforceable Liens superior to and prior to the rights of all third Persons and subject to no other Liens except as are permitted by Section 8.03. The Additional Mortgages or instruments related thereto shall have been duly recorded or filed in such manner and in such places as are required by law to establish, perfect, preserve and protect the Liens in favor of the Collateral Agent required to be granted pursuant to the Additional Mortgages and all taxes, fees and other charges payable in connection therewith shall have been paid in full. (b) The Borrower will, and will cause its Subsidiaries to, at the expense of the Borrower make, execute, endorse, acknowledge, file and/or

Appears in 2 contracts

Samples: Credit Agreement (National Tobacco Co Lp), Credit Agreement (National Tobacco Co Lp)

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Additional Security; Further Assurances. (a) The Each of the Borrower and Caterair will, and will cause each of its respective Wholly-Owned Domestic Subsidiaries to, grant to the Collateral Agent security interests and mortgages in material such Real Property acquired after of such Credit Party as are not covered by the Initial Borrowing Date Existing Mortgages, as may be requested from time to time by the Administrative Agent (collectively, or the "Additional Mortgages")Required Banks or as may be required to be granted from time to time pursuant to the Caterair Credit Agreement. All such security interests and mortgages shall be granted pursuant to documentation Mortgages reasonably satisfactory in form and substance to the Administrative Agent and shall constitute valid and enforceable perfected Liens superior to and prior to the rights of all third Persons and subject to no other Liens except as are permitted by Section 8.03for Permitted Liens. The Additional Such Mortgages or instruments related thereto shall have been duly recorded or filed in such manner and in such places as are required by law to establish, perfect, preserve and protect the Liens in favor of the Collateral Agent required to be granted pursuant to the Additional such Mortgages and all taxes, fees and other charges payable in connection therewith shall have been paid in full. (b) The Borrower will, and will cause its Subsidiaries to, at the expense of the Borrower make, execute, endorse, acknowledge, file and/or

Appears in 1 contract

Samples: Credit Agreement (Sky Chefs Argentine Inc)

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Additional Security; Further Assurances. (a) The On the --------------------------------------- Restatement Effective Date and thereafter, at the reasonable request from time to time by the Administrative Agent, the Borrower will, and will cause its Subsidiaries each of the Subsidiary Guarantors to, grant to the Collateral Agent security interests in such assets and mortgages in material properties (other than Real Property acquired after Property) of the Initial Borrowing Date as may be requested from time to time Borrower and such Subsidiary Guarantors, which assets and property are of the kind that are the subject of the Pledge Agreement and/or the Security Agreement and which are not covered by the Administrative Agent original Security Documents (collectively, the "Additional MortgagesSecurity Documents"). All such security interests and mortgages shall be granted pursuant to documentation reasonably satisfactory in form and substance to the Administrative Agent Agents and shall constitute valid and enforceable Liens perfected security interests superior to and prior to the rights of all third Persons and subject to no other Liens except as are permitted by Section 8.03for Permitted Liens. The Additional Mortgages Security Documents or instruments related thereto shall have been duly recorded or filed in such manner and in such places as are required by law to establish, perfect, preserve and protect the Liens in favor of the Collateral Agent required to be granted pursuant to the Additional Mortgages Security Documents and all taxes, fees and other charges payable in connection therewith shall have been paid in full. (b) The Borrower will, and will cause its Subsidiaries to, at the expense of the Borrower make, execute, endorse, acknowledge, file and/or

Appears in 1 contract

Samples: Credit Agreement (Extended Stay America Inc)

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