Common use of Collateral Identification, Special Collateral Clause in Contracts

Collateral Identification, Special Collateral. (a) in the event that it hereafter acquires any Collateral of a type described in Section 5.2(b) hereof, it shall promptly notify the Collateral Agent thereof in writing and take such actions and execute such documents and make such filings all at the Grantors’ expense as the Collateral Agent may reasonably request in order to ensure that the Collateral Agent has a valid, perfected, first priority security interest in such Collateral, subject in the case of priority only, to any Permitted Liens; and (b) in the event that it hereafter acquires or has any Commercial Tort Claim in excess of $1,000,000 individually or $5,000,000 in the aggregate it shall deliver to the Collateral Agent a completed Pledge Supplement together with all Supplements to Schedules thereto, identifying such new Commercial Tort Claims.

Collateral Identification, Special Collateral. (a) in the event that it hereafter acquires any Collateral of a type described in Section 5.2(b) hereof, it shall promptly notify the Collateral Agent thereof in writing and take such actions and execute such documents and make such filings all at the Grantors’ Grantor’s expense as the Collateral Agent may reasonably request in order to ensure that the Collateral Agent has a valid, perfected, first priority security interest in such Collateral, subject to the Intercreditor Agreement, and, in the case of priority only, to any Permitted Liens; and. (b) in the event that it hereafter acquires or has any Commercial Tort Claim in excess of $1,000,000 individually or $5,000,000 1,000,000 in the aggregate it shall deliver to the Collateral Agent a completed Pledge Supplement together with all Supplements to Schedules thereto, identifying such new Commercial Tort Claims.

Collateral Identification, Special Collateral. (a) in the event that it hereafter acquires any Collateral of a type described in Section 5.2(b) hereof), it such Grantor shall promptly notify the Collateral Administrative Agent thereof in writing and take such actions and execute such documents and make such filings all at the Grantors’ expense as the Collateral Administrative Agent may reasonably request in order to ensure that the Collateral Administrative Agent has a valid, perfected, first first-priority security interest in such Collateral, subject subject, in the case of priority only, to any Permitted Liens; and (b) in the event that it hereafter acquires or has any Commercial Tort Claim in excess of $1,000,000 2,000,000 individually or $5,000,000 4,000,000 in the aggregate it aggregate, such Grantor shall deliver to the Collateral Administrative Agent a completed Pledge Collateral Agreement Supplement together with all Supplements to Schedules thereto, identifying such new Commercial Tort Claims.