After-Acquired Subsidiaries. Concurrently upon the formation or acquisition by the Borrower or any Subsidiary of any domestic Subsidiary after the date hereof (an “After-Acquired Subsidiary”), the Borrower shall cause the After-Acquired Subsidiary to deliver articles of incorporation, bylaws, other organizational documents, and resolutions and such opinions as the Agent shall reasonably require and to execute a Subsidiary Guaranty in favor of the Agent for the benefit of the Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Tandy Brands Accessories Inc), Credit Agreement (Tandy Brands Accessories Inc)
After-Acquired Subsidiaries. Concurrently upon the formation or acquisition by the Borrower or any Subsidiary of any domestic Subsidiary after the date hereof (an “"After-Acquired Subsidiary”"), the Borrower shall cause the After-Acquired Subsidiary to deliver articles of incorporation, bylaws, other organizational documents, and resolutions and such opinions as the Agent shall reasonably require and to execute a Subsidiary Guaranty and Security Agreement in favor of the Agent for the benefit of the Lenders.
Appears in 1 contract
After-Acquired Subsidiaries. Concurrently upon the formation or acquisition by the Borrower or any Subsidiary of any domestic Subsidiary after the date hereof (an “"After-Acquired Subsidiary”"), the Borrower shall cause the After-Acquired Subsidiary to deliver articles of incorporation, bylaws, other organizational documents, and resolutions and such opinions as the Agent Lender shall reasonably require and to execute a Subsidiary Guaranty in favor of the Agent for the benefit of the LendersLender.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Tandy Brands Accessories Inc)