Common use of After Acquired Property and Further Assurances Clause in Contracts

After Acquired Property and Further Assurances. (a) Subject to Section 5.03(b) below, the Borrower and each other Loan Party shall, within twenty (20) days of acquiring Property for which the Lenders do not have a perfected security interest, execute and deliver to the Agent for the benefit of the Lenders, all such supplements or amendments to the Security Documents and all such other documents as the Agent deems necessary or advisable, including further registrations, in each case, to provide the Lenders with a perfected security interest in any such Property, subject only to Permitted Encumbrances. (b) Notwithstanding Section 5.01(g) and Section 5.03(a), the Borrower and the Loan Parties shall not be required to satisfy its obligations pursuant to Section 5.03(a) with respect to Property previously acquired that is not required for the operation or use of existing Property or is desirable for the operation or use of previously acquired Property that has a fair market value of less than $3,500,000 until the aggregate value of all such Property so acquired exceeds $3,500,000. (c) Each Loan Party shall from time to time at the request of the Agent, provide the Agent with such assistance, do such acts and execute and deliver all such further deeds or other instruments of conveyance, assignment, transfer, guarantee, mortgage, pledge or charge, including its further registrations, of any of its Property intended to be subject to the Security Documents, as are reasonably required by the Agent.

After Acquired Property and Further Assurances. (a) Subject to Section 5.03(b) below, the Borrower and each other Loan Party shall, within twenty sixty (2060) days of acquiring Property for consideration exceeding $1,000,000 and for which the Lenders do not have a perfected security interest, execute and deliver to the Agent for the benefit of the Lenders, all such supplements or amendments to the Security Documents and all such other documents as the Agent deems necessary or advisable, including further registrations, in each case, to provide the Lenders with a perfected security interest in any such Property, subject only to Permitted Encumbrances. (b) Notwithstanding Section 5.01(g5.01(f) and Section 5.03(a), the Borrower and the Loan Parties shall not be required to satisfy its obligations pursuant to Section 5.03(a) with respect to Property previously acquired that is not required for the operation or use of existing Property or is desirable for the operation or use of previously acquired Property that has a fair market value of less than $3,500,000 12,500,000 until the aggregate value of all such Property so acquired exceeds $3,500,00012,500,000. (c) Each Loan Party shall from time to time at the request of the Agent, provide the Agent with such assistance, do such acts and execute and deliver all such further deeds or other instruments of conveyance, assignment, transfer, guarantee, mortgage, pledge or charge, including its further registrations, of any of its Property intended to be subject to the Security Documents, as are reasonably required by the Agent.