Collateral and Guaranties Sample Clauses
The "Collateral and Guaranties" clause defines the requirement for the borrower to provide assets or third-party guarantees as security for the obligations under the agreement. In practice, this means the borrower may need to pledge property, equipment, or other valuable assets, or arrange for a guarantor to back the loan, ensuring the lender has recourse if the borrower defaults. This clause primarily serves to reduce the lender's risk by providing additional sources of repayment and enhancing the likelihood of recovering funds in the event of non-payment.
Collateral and Guaranties. All Obligations shall be secured by the Collateral and guarantied by the Guaranty.
Collateral and Guaranties. Section 5.1 Security 42 Section 5.2 Title Information 43 Section 5.3 Guarantees 43 Section 5.4 Additional Guarantors 43
Collateral and Guaranties. Subject to Section 5.17, Holdings and the Borrower shall ensure that the Obligations shall at all times be (a) guaranteed by Holdings and each Subsidiary (other than any Excluded Subsidiary) pursuant to the terms and conditions set out in the Guaranty or in such other guarantee in form and substance reasonably acceptable to the Administrative Agent and (b) secured by a perfected, first-priority (in compliance with the terms provided for by the relevant Security Documents) Lien (except for, other than in the case of Equity Interests, Liens permitted by Section 6.02 and except for, in the case of assets consisting of Equity Interests, Permitted Equity Collateral Liens) in favor of the Collateral Agent, for the benefit of the holders of such Obligations (and any other persons permitted to be so secured by the terms of the applicable Security Documents and that are so secured thereunder) on all (i) the Equity Interests issued by the Borrower, (ii) the Equity Interests issued by each Guarantor (other than Holdings) directly held by any other Loan Party and (iii) all other tangible and intangible personal property of the Loan Parties (including accounts receivable, inventory, equipment, general intangibles (including contract rights and Management Agreements), investment property, Intellectual Property, material intercompany notes and proceeds of the foregoing), in each case excluding the Excluded Assets and subject to the Excluded Actions.
Collateral and Guaranties. (a) Grant to the Agent a first priority perfected security interest in and to all of its personal property, now owned or hereafter acquired, subject only to Permitted Liens.
(b) Within thirty (30) days after any other Person becomes a Subsidiary, (i) cause such Person to become a Guarantor by executing and delivering to the Agent a supplement to this Agreement or such other document as the Agent shall deem appropriate for such purpose, (ii) cause such Person to execute a supplement to the Security Agreement in order to become a party thereto and such other Collateral Documents as the Agent may request, in each case to secure the Obligations, (iii) deliver to the Agent documents of the types referred to in Sections 5.01(b) and (c) and a favorable opinion of counsel to such Person (which shall cover, among other things, the legality, validity, binding effect and enforceability of the documentation referred to in clauses (i) and (ii)), all in form, content and scope reasonably satisfactory to the Agent, and (iv) cause the immediate parent of such Subsidiary to pledge 100% of the Capital Stock in such Subsidiary to secure the Obligations and provide such legal opinions relating thereto as the Agent may reasonably request, along with share certificates pledged thereby and appropriately executed stock powers in blank.
Collateral and Guaranties. 20 SECTION 2.01. Collateral...............................................................................20 SECTION 2.02. Guaranty.................................................................................21 SECTION 2.03. Loan Documents...........................................................................21
Collateral and Guaranties. 6.1. Collateral Security and Guaranties.
Collateral and Guaranties. (a) All of the Loans and the other Liabilities shall be secured pursuant to the Security Agreement which shall be duly executed and delivered by Borrower to Lender in connection with this Agreement and pursuant to which Lender shall be granted a first-priority security interest in all of Borrower's present or future accounts, contract rights, chattel paper, general intangibles (excluding its Intellectual Property Rights but including the proceeds thereof), instruments, documents, inventory, equipment, fixtures, leasehold improvements, and other assets and all proceeds thereof (excluding its Intellectual Property Rights but including the proceeds thereof). In addition, all of the Loans and the other Liabilities shall also be secured pursuant to a Stock Pledge Agreement which (together with an irrevocable stock power in the form of Exhibit C-2 attached hereto) shall be duly executed and delivered by Borrower to Lender in connection with this Agreement and pursuant to which Lender shall be granted a first-priority security interest in all of the capital stock of CryoLife International and all proceeds thereof.
(b) All of the Loans and the other Liabilities shall be fully guaranteed by CryoLife International pursuant to a Subsidiary Guaranty which shall be duly executed and delivered by CryoLife International to Lender in connection with this Agreement. In addition, the obligations of CryoLife International under such Subsidiary Guaranty shall be secured pursuant to a Subsidiary Security Agreement which shall be duly executed and delivered by CryoLife International to Lender in connection with this Agreement, and pursuant to which Lender shall be granted a first-priority security interest in all of CryoLife International's present or future accounts, contract rights, chattel paper, general intangibles (excluding its Intellectual Property Rights but including the proceeds thereof), instruments, documents, inventory, equipment, fixtures, leasehold improvements, and other assets and all proceed thereof.
(c) Within ten (10) days after Borrower's creation or acquisition of any Subsidiary, Borrower shall pledge all of the capital stock of such Subsidiary to the Lender as additional collateral for the Liabilities, Borrower shall cause such Subsidiary to guaranty the repayment of the Liabilities to Lender, and Borrower shall cause such Subsidiary to grant to the Lender a first-priority perfected security interest in and lien on all of its assets (excluding its Intelle...
Collateral and Guaranties. 17 Section 4.1. Collateral................................................................... 17 Section 4.2. Guaranties................................................................... 18 Section 4.3. Further Assurances........................................................... 18 Section 4.4. Liens on Real Property....................................................... 18
Collateral and Guaranties. 31 Section 4.06. Capital Adequacy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 Section 4.07. Unavailability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 Section 4.08. Increased Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 Section 4.09. Sharing of Payments, Etc.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 Section 4.10. Loan Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 Section 4.11. Funding Losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 Section 4.12. Assumptions Concerning Funding of LIBOR Advances . . . . . . . . . . . . . . . . . . . . 36 Section 4.13.
Collateral and Guaranties. The obligations of the Borrower to repay (i) with interest all amounts advanced under the Revolving Commitment as evidenced by the Notes, together with all renewals, extensions, modifications and/or restatements of the Revolving Commitment and/or the Notes that are from time to time in effect, and (ii) all fees, costs and expenses of the Banks, including reasonable attorneys' fees incurred by the Banks under this Agreement (collectively, the "Secured Obligations") shall be (a) secured by a negative pledge of the Borrower on all of its assets including without limitation the Rig and (b) guaranteed by an unconditional guaranty executed by each of the Guarantors in favor of the Banks dated of even date herewith, said Guaranty to be in the form of Exhibit "C" hereto.