Common use of Collateral Opinion Clause in Contracts

Collateral Opinion. Satmex and each Second Priority Guarantor shall furnish to the Collateral Trustee copies of any evidence or documents required to be submitted to the Indenture Trustee under Section 4.8 of the Second Priority Indenture and, in addition, evidence of the recording or filing of the Second Priority Indenture or any other documents filed or recorded in connection with the creation or perfection of the liens and security interests granted or evidenced by the other Second Priority Documents, including, without limitation, the following evidence: (i) promptly after the execution and delivery of the Second Priority Indenture, an Opinion of Counsel stating in the opinion of such counsel the Second Priority Security Documents and all other necessary and appropriate documents have been properly filed for recordation in the corresponding public registries so that, upon such recordation, the liens and security interests intended to be created by the Second Priority Documents will constitute perfected liens and security interests; and (ii) at least annually, on or before January 31 of each calendar year, after the execution and delivery of the Second Priority Indenture, an Opinion of Counsel either stating that in the opinion of such counsel such action has been taken with respect to the recording, filing, re-recording, and refilling of the Second Priority Security Documents, as required, and all other necessary and appropriate documents to maintain the perfected status of the liens and security interests intended to be created by the Second Priority Security Documents, or stating that in the opinion of such counsel no such action is necessary to maintain such perfected status of the liens or security interests.

Appears in 2 contracts

Samples: Collateral Trust Agreement (Satelites Mexicanos Sa De Cv), Collateral Trust Agreement (Satelites Mexicanos Sa De Cv)

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Collateral Opinion. Satmex and each Second First Priority Guarantor shall furnish to the Collateral Trustee copies of any evidence or documents required to be submitted to the Indenture Trustee under Section 4.8 4.1 l(b) of the Second First Priority Indenture and, in addition, evidence of the recording or filing of the Second First Priority Indenture or any other documents filed or recorded in connection with the creation or perfection of the liens and security interests granted or evidenced by the other Second First Priority Documents, including, without limitation, the following evidence: (i) promptly after the execution and delivery of the Second First Priority Indenture, an Opinion of Counsel stating in the opinion of such counsel the Second First Priority Security Documents and all other necessary and appropriate documents have been properly filed for recordation in the corresponding public registries so that, upon such recordation, the liens and security interests intended to be created by the Second First Priority Documents will constitute perfected liens and security interests; and (ii) at least annually, on or before January 31 of each calendar year, after the execution and delivery of the Second First Priority Indenture, an Opinion of Counsel either stating that in the opinion of such counsel such action has been taken with respect to the recording, filingtiling, re-recording, and refilling of the Second First Priority Security Documents, as required, and all other necessary and appropriate documents to maintain the perfected status of the liens and security interests intended to be created by the Second First Priority Security Documents, or stating that in the opinion of such counsel no such action is necessary to maintain such perfected status of the liens or security interests.

Appears in 1 contract

Samples: First Priority Collateral Trust Agreement (Satelites Mexicanos Sa De Cv)

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Collateral Opinion. Satmex and each Second First Priority Guarantor shall furnish to the Collateral Trustee copies of any evidence or documents required to be submitted to the Indenture Trustee under Section 4.8 4.11(b) of the Second First Priority Indenture and, in addition, evidence of the recording or filing of the Second First Priority Indenture or any other documents filed or recorded in connection with the creation or perfection of the liens and security interests granted or evidenced by the other Second First Priority Documents, including, without limitation, the following evidence: (i) promptly after the execution and delivery of the Second First Priority Indenture, an Opinion of Counsel stating in the opinion of such counsel the Second First Priority Security Documents and all other necessary and appropriate documents have been properly filed for recordation in the corresponding public registries so that, upon such recordation, the liens and security interests intended to be created by the Second First Priority Documents will constitute perfected liens and security interests; and (ii) at least annually, on or before January 31 of each calendar year, after the execution and delivery of the Second First Priority Indenture, an Opinion of Counsel either stating that in the opinion of such counsel such action has been taken with respect to the recording, filing, re-recording, and refilling of the Second First Priority Security Documents, as required, and all other necessary and appropriate documents to maintain the perfected status of the liens and security interests intended to be created by the Second First Priority Security Documents, or stating that in the opinion of such counsel no such action is necessary to maintain such perfected status of the liens or security interests.

Appears in 1 contract

Samples: First Priority Collateral Trust Agreement (Satelites Mexicanos Sa De Cv)

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