Common use of Collateral Period Pledge Requirement Clause in Contracts

Collateral Period Pledge Requirement. During any Collateral Period, on or prior to the times specified below (or such later date as the Administrative Agent shall reasonably determine), the Borrower will cause all of the issued and outstanding Equity Interests (other than any Excluded Pledged Collateral) of each Pledged Subsidiary (collectively, the “Collateral”), to be subject to a first priority, perfected Lien (subject to Liens permitted pursuant to Section 10.2) in favor of the Administrative Agent to secure the Guaranteed Obligations and obligations under the Pari Passu Debt in accordance with the terms and conditions of the Collateral Documents or such other pledge and security documents as the Administrative Agent shall reasonably request and to deliver or cause to be delivered to the Administrative Agent the applicable Subsidiary Guaranty and Pledge Documents: (i) the Collateral Trigger Date; and (ii) within thirty (30) days following the occurrence of any date any Pledged Subsidiary shall be required during the Collateral Period to become a Guarantor pursuant to Section 8.14(a) or (b).

Collateral Period Pledge Requirement. During any Collateral Period, on or prior to the times specified below (or such later date as the Administrative Agent shall reasonably determine), the Borrower will cause all of the issued and outstanding Equity Interests (other than any Excluded Pledged Collateral) of each Pledged Subsidiary (collectively, the “Collateral”), to be subject to a first priority, perfected Lien (subject to Liens permitted pursuant to Section 10.2.) in favor of the Administrative Agent to secure the Guaranteed Obligations and obligations under the Pari Passu Debt in accordance with the terms and conditions of the Collateral Documents or such other pledge and security documents as the Administrative Agent shall reasonably request and to deliver or cause to be delivered to the Administrative Agent the applicable Subsidiary Guaranty and Pledge Documents: (i) the Collateral Trigger Date; and (ii) within thirty (30) days following the occurrence of any date any Pledged Subsidiary shall be required during the Collateral Period to become a Guarantor pursuant to Section 8.14(a8.14.(a) or (b).