Common use of Change of Name; Location of Collateral; Records; Place of Business Clause in Contracts

Change of Name; Location of Collateral; Records; Place of Business. (a) Each Grantor agrees promptly to notify the Collateral Agent in writing of any change (i) in its corporate name or in any trade name used to identify it in the conduct of its business or in the ownership of its properties, (ii) in the location of its chief executive office, its principal place of business, any office in which it maintains books or records relating to Collateral owned by it or any office or facility at which Collateral owned by it is located (including the establishment of any such new office or facility), (iii) in its identity or corporate structure or (iv) in its Federal Taxpayer Identification Number. Each Grantor agrees not to effect or permit any change referred to in the preceding sentence unless all filings have been made under the UCC or otherwise that are required in order for the Collateral Agent to continue at all times following such change to have a valid, legal and perfected first priority security interest in all the Collateral for the benefit of the Secured Parties, subject to no Liens other than Prior Liens and Permitted Liens of the type described in clauses (c), (d), (e), (g), (i), (l), (m), (n), (o), (p) and (u) of the definition thereof in the Credit Agreement and clauses (4), (5), (6), (7)(a), (8), (9), (10), (11), (12), (18) and (21) of the definition thereof in each of the Indentures. Each Grantor agrees promptly to notify the Collateral Agent if any material portion of the Collateral owned or held by such Grantor is damaged or destroyed. (b) Each Grantor agrees to maintain, at its own cost and expense, such complete and accurate records with respect to the Collateral owned by it as is consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged, but in any event to include complete accounting records indicating all payments and proceeds received with respect to any part of the Collateral, in each case to the extent required by GAAP, and, at such time or times as the Collateral Agent may reasonably request, promptly to prepare and deliver to the Collateral Agent a duly certified schedule or schedules in form and detail satisfactory to the Collateral Agent showing the identity, amount and location of any and all Collateral.

Appears in 2 contracts

Samples: Credit Agreement (Crown Holdings Inc), u.s. Security Agreement (Crown Holdings Inc)

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Change of Name; Location of Collateral; Records; Place of Business. (a) Each No Grantor agrees promptly to notify the Collateral Agent in writing of any change shall change: (i) in its corporate the Grantor’s name or in any trade name used to identify it in the conduct of its business or in the ownership of its properties, ; (ii) in the location of its the Grantor’s chief executive office, its principal place of business, any office in which it maintains books or records relating to Collateral owned by it or any office or facility at which Collateral owned by it is located (including the establishment of any such new office or facility), ) or location from which Accounts are invoiced or paid; (iii) in its identity the Grantor’s organizational structure or corporate structure jurisdiction of incorporation or formation; or (iv) in its the Grantor’s Federal Taxpayer Identification Number. Each , in each case without fifteen (15) days’ prior written notice to the Agent and after Agent’s written acknowledgment, which acknowledgment shall not be unreasonably withheld or delayed, that any reasonable action requested by the Agent to be performed by any Grantor agrees not in connection therewith, including to effect continue the perfection of any Liens in favor of the Agent, in any Collateral, has been completed or permit taken, and provided that any change referred to such new location shall be in the preceding sentence unless all filings have been made under the UCC or otherwise that are required in order for the Collateral Agent to continue at all times following such change to have a valid, legal and perfected first priority security interest in all the Collateral for the benefit of the Secured Parties, subject to no Liens other than Prior Liens and Permitted Liens of the type described in clauses (c), (d), (e), (g), (i), (l), (m), (n), (o), (p) and (u) of the definition thereof in the Credit Agreement and clauses (4), (5), (6), (7)(a), (8), (9), (10), (11), (12), (18) and (21) of the definition thereof in each of the Indentures. Each Grantor agrees promptly to notify the Collateral Agent if any material portion of the Collateral owned or held by such Grantor is damaged or destroyedcontinental United States. (b) Each Grantor agrees to maintain, at its own cost and expense, such complete and accurate records with respect to the Collateral owned by it as is which are complete and accurate in all material respects and which are consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as as, or similar to to, those in which such the Grantor is engaged, but in any event to include complete accounting records which are complete in all material respects indicating all payments and proceeds received with respect to any part of the Collateral, in each case to the extent required by GAAP, and, at such time or times as the Collateral Agent may reasonably request, promptly to prepare and deliver to the Collateral Agent a duly certified schedule or schedules in form and detail satisfactory to the Collateral Agent showing the identity, amount and location of any and all Collateral.

Appears in 1 contract

Samples: Security Agreement (Alco Stores Inc)

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Change of Name; Location of Collateral; Records; Place of Business. (a) Each Grantor agrees promptly to notify the Collateral Agent in writing of any change (i) in its corporate name or in any trade name used to identify it in the conduct of its business or in the ownership of its properties, (ii) in the location of its chief executive office, its principal place of business, any office in which it maintains books or records relating to Collateral owned by it or any office or facility at which Collateral owned by it is located (including the establishment of any such new office or facility), (iii) in its identity or corporate structure or (iv) in its Federal Taxpayer Identification Number. Each Grantor agrees not to effect or permit any change referred to in the preceding sentence unless all filings have been made under the UCC or otherwise that are required in order for the Collateral Agent to continue at all times following such change to have a valid, legal and perfected first priority security interest in all the Collateral for the benefit of the First Priority Secured Parties, a valid, legal and perfected second priority security interest in all the Collateral for the benefit of the Second Priority Secured Parties and a valid, legal and perfected third priority security interest in all the Collateral for the benefit of the Third Priority Secured Parties subject to no Liens other than Prior Liens and Permitted Liens of the type described in clauses (cvi), (dvii), (eviii), (gix), (ixi), (lxiv), (mxv), (nxvi), (oxvii), (pxviii) and (uxxiv) of the definition thereof in the Credit Agreement and clauses (4), (5), (6), (7)(a), (8), (9), (10), (11), (12), (18) and (21) of the definition thereof in each of the Indentures. Each Grantor agrees promptly to notify the Collateral Agent if any material portion of the Collateral owned or held by such Grantor is damaged or destroyed. (b) Each Grantor agrees to maintain, at its own cost and expense, such complete and accurate records with respect to the Collateral owned by it as is consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged, but in any event to include complete accounting records indicating all payments and proceeds received with respect to any part of the Collateral, in each case to the extent required by GAAP, and, at such time or times as the Collateral Agent may reasonably request, promptly to prepare and deliver to the Collateral Agent a duly certified schedule or schedules in form and detail satisfactory to the Collateral Agent showing the identity, amount and location of any and all Collateral.

Appears in 1 contract

Samples: u.s. Security Agreement (Crown Holdings Inc)

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