Common use of Collateral Call Clause in Contracts

Collateral Call. The Borrower agrees: (i) upon the creation, formation or acquisition of any direct or indirect Subsidiary of the Borrower, to immediately pledge 100% of the Capital Stock of any such Subsidiary to secure the Obligations, pursuant to a pledge agreement substantially in the form of Exhibit J hereto, and to promptly deliver to the Administrative Lender all certificates or other documentation evidencing 100% of such Capital Stock and, if such Capital Stock is stock of a corporation, together with stock powers executed in blank and (ii) to, and agrees to cause the Subsidiaries of the Borrower to, grant the Administrative Lender and the Lenders from time to time at the request of the Lenders a Lien on any of the Property of the Borrower or any Subsidiary of the Borrower that is not already subject to a perfected Lien, excluding all real estate. The Borrower shall comply with Section 6.15(d) hereof with respect to all owned or acquired real estate by the Borrower or any Subsidiary from time to time. The Borrower shall, and shall cause the Subsidiaries of the Borrower to, provide for the benefit of Administrative Lender and Lenders securing the Obligations in any other Property of the Borrower and its Subsidiaries, all items to fully effect the foregoing, including, without limitation, providing the Administrative Lender with UCC-1's, new security agreements, appraisals, hazard insurance, UCC-11 searches, Tax and Lien searches, intellectual property documentation and registration and other similar types of documents, consents, authorizations, Licenses, instruments and agreements relating to all Property of the Borrower and its Subsidiaries as reasonably requested by the Administrative Lender from time to time.

Appears in 1 contract

Samples: Credit Agreement (Pinnacle Holdings Inc)

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Collateral Call. The Borrower agrees: : (i) upon the creation, --------------- formation or acquisition of any direct or indirect Subsidiary of the Borrower, to immediately pledge 100% of the Capital Stock of any such Subsidiary to secure the Obligations, pursuant to a pledge agreement substantially in the form of Exhibit J hereto, and to promptly deliver to the Administrative Lender Agent all --------- certificates or other documentation evidencing 100% of such Capital Stock and, if such Capital Stock is stock of a corporation, together with stock powers executed in blank blank, and to cause such new Subsidiary to execute a Guaranty of the Obligations in the form of Exhibit G hereto and (ii) to, and agrees to cause the --------- Subsidiaries of the Borrower to, grant the Administrative Lender Agent and the Lenders from time to time at the request of the Lenders time, a Lien on any of the Property of the Borrower or any Subsidiary of the Borrower that is not already subject to a perfected Lien, excluding all leasehold real estate. The Borrower shall comply with Section 6.15(d6.15(a), (b) and (d) hereof with respect to all owned or acquired real estate by the Borrower or any Subsidiary from time to time. The Borrower shall, and shall cause the Subsidiaries of the Borrower to, provide for the benefit of Administrative Lender Agent and Lenders securing the Obligations in any other Property of the Borrower and its Subsidiaries, all items to fully effect the foregoing, including, without limitation, providing the Administrative Lender Agent with UCC-1's's together with, new security agreements, appraisals, hazard insurance, UCC-11 searches, Tax and Lien searches, intellectual property documentation and registration and other similar types of documents, consents, authorizations, Licenses, instruments and agreements relating to all Property of the Borrower and its Subsidiaries as reasonably requested by the Administrative Lender Agent from time to time, and at the request of the Administrative Agent, opinions of local legal counsel with respect to the execution and filing thereof, and perfection of Liens created thereby. Notwithstanding the foregoing, in no event shall the Borrower be obligated to grant, or perfect, any new leasehold mortgage or leasehold deed of trust.

Appears in 1 contract

Samples: Credit Agreement (Pinnacle Holdings Inc)

Collateral Call. The Borrower agrees: : (i) upon the creation, --------------- formation or acquisition of any direct or indirect Subsidiary of the Borrower, to immediately pledge 100% of the Capital Stock of any such Subsidiary to secure the Obligations, pursuant to a pledge agreement substantially in the form of Exhibit J hereto, and to promptly deliver to the Administrative Lender all certificates or other documentation evidencing 100% of such Capital Stock and, if such Capital Stock is stock of a corporation, together with stock powers executed in blank and (ii) to, and agrees to cause the Subsidiaries of the Borrower to, grant the Administrative Lender and the Lenders from time to time at the request of the Lenders a Lien on any of the Property of the Borrower or any Subsidiary of the Borrower that is not already subject to a perfected Lien. In that regard, excluding all real estate. The Borrower shall comply with Section 6.15(d) hereof with respect to all owned or acquired real estate by the Borrower or any Subsidiary from time to time. The Borrower shall, and shall cause the Subsidiaries of the Borrower to, provide all items on Schedule 2.16 attached hereto with respect to each leasehold property acquired by the Borrower or any Subsidiary of the Borrower, and use best efforts to assist the Administrative Lender and the Lenders in creating and perfecting a first Lien, subject to Permitted Liens, for the benefit of Administrative Lender and Lenders securing the Obligations in any other Property of the Borrower and its Subsidiaries, all items to fully effect the foregoing, including, without limitation, providing the Administrative Lender with UCC-1's, new security agreements, mortgages, deeds of trust, appraisals, surveys, Estoppel and Attornment Language, hazard insurance, UCC-11 searches, Tax and Lien searches, intellectual property documentation and registration and other similar types of documents, consents, authorizations, Licenses, instruments and agreements relating to all Property of the Borrower and its Subsidiaries as reasonably requested by the Administrative Lender from time to time. Notwithstanding anything in this Section 2.16(b) to the contrary, the Borrower shall only be obligated to grant collateral to the extent necessary to remain in compliance with Section 6.15 hereof.

Appears in 1 contract

Samples: Credit Agreement (Pinnacle Holdings Inc)

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Collateral Call. The Borrower agrees: (i) upon agrees that it will, and will cause any other Person owning any interest in the creation, formation Borrower or acquisition of any direct Restricted Subsidiary or indirect Subsidiary of the Borrower, other GCI Entity from time to time to immediately pledge 100% such interest (other than with respect to a pledge of the Capital Stock of any such Subsidiary Parents and to the extent permitted by the Indenture) to secure the Obligations, pursuant to a pledge agreement substantially in the form of Exhibit J hereto, and to promptly deliver to the Administrative Lender all certificates or other documentation evidencing 100% of such Capital Stock and, if such Capital Stock is stock of a corporation, together with stock powers executed in blank and (ii) Pledge Agreements. The Borrower agrees to, and agrees to cause the Restricted Subsidiaries of the Borrower and each other GCI Entity to, promptly grant the Administrative Lender Agent and the Lenders from time to time at the request of the Lenders a Lien on any of the Property of the Borrower or any Subsidiary of other GCI Entity (other than GCI) not already constituting Collateral, to the extent permitted by the Indenture. In that regard, the Borrower that is not already subject to a perfected Lien, excluding all real estate. The Borrower shall comply with Section 6.15(d) hereof with respect to all owned or acquired real estate by the Borrower or any Subsidiary from time to time. The Borrower 0100.0269\91958 44 shall, and shall cause the Subsidiaries of the Borrower each other GCI Entity to, provide use best efforts to assist the Administrative Agent and the Lenders in creating and perfecting a first Lien for the benefit of Administrative Lender Agent and Lenders securing the Obligations in any other such Property of the Borrower and its Subsidiarieseach other GCI Entity, all items subject to fully effect Permitted Liens (except for the foregoingLien on the Capital Stock of GCI Leasing Co, Inc., which shall be a second Lien to the Prior Stock Lien)(other than GCI), including, without limitation, providing the Administrative Lender Agent with UCC-1's, new security agreementstitle commitments, appraisals, surveys (with flood plain certification), mortgagee title insurance, evidence of insurance including flood hazard insurance, environmental audits, UCC-11 searches, Tax and Lien searches, recorded real estate documents, intellectual property documentation and registration and other similar types of documents, consents, authorizations, LicensesAuthorizations, instruments and agreements relating to all Property of the Borrower and its Subsidiaries each other GCI Entity (other than GCI) as reasonably requested by the Administrative Lender Agent from time to time.

Appears in 1 contract

Samples: Credit Agreement (Gci Inc)

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