Collateral and Guaranty Requirement Sample Clauses

Collateral and Guaranty Requirement. Except for the Excluded Subsidiary, within thirty (30) days of the formation of each Subsidiary formed under the laws of a state or territory of the United States or the District of Columbia (a "DOMESTIC SUBSIDIARY"), Borrower shall have caused such Domestic Subsidiary to become a party to the Guaranty and the Security Agreement and Borrower and such Domestic Subsidiary shall have taken all actions required under the Security Agreement to perfect Lender's security interest. Within thirty (30) days of the formation of each Subsidiary that is not a Domestic Subsidiary (a "FOREIGN SUBSIDIARY"), but the Equity Interests of which are owned by Borrower and/or a Domestic Subsidiary, Borrower shall have caused 65% of the Equity Interests of such Foreign Subsidiary (or, if Borrower or such Domestic Subsidiary owns less than 100% of the Equity Securities of such Foreign Subsidiary, then the maximum percentage of such Equity Securities owned by Borrower or such Domestic Subsidiary that can be pledged to Lender without causing adverse tax consequences to Borrower or such Domestic Subsidiary) to be pledged under the Security Agreement or other security documents required by Lender. No Loan shall be made after the formation of any Subsidiary specified under this Section 5.1(g) if all of the steps required to be taken under this Section 5.1(g) (without regard to the thirty (30) day periods specified in this Section 5.1(g)) have not been accomplished.

Collateral and Guaranty Requirement. (A)(x) The Administrative Agent shall have received a supplement to each applicable Senior Collateral Document (collectively, the “Joinder Documents”), duly executed and delivered on behalf of The ▇▇▇▇▇▇▇ Drug Company, a Washington corporation and wholly-owned subsidiary of the Borrower (“Bartell”), (y) (1) all documents and instruments, including Uniform Commercial Code financing statements, required by law or reasonably requested by the Agents to be filed, registered or recorded to create the Liens intended to be created by the Joinder Documents and perfect such Liens to the extent required by, and with the priority required by the Amended Credit Agreement and the Joinder Documents, shall have been filed, registered or recorded or delivered to the Senior Collateral Agent for filing, registration or recording or (2) the Agents shall have been provided with all authorizations, consents and approvals from Bartell and any other Person reasonably requested by it to file, record or register all documents and instruments referred to in clause (y)(1) hereof, and (z) Bartell shall have obtained all consents and approvals required to be obtained by it in connection with the execution and delivery of all Joinder Documents and the granting by it of the Liens thereunder, and (B) the Collateral and Guarantee Requirement shall be satisfied after giving effect to this Second Amendment.