Collateral Security; Further Assistance. (a) As security for the payment of the Obligations, the Company shall execute and deliver, or cause to be executed and delivered, to the Lenders and the Agent Loan Documents granting the following: first priority liens and security interests, pursuant to Pledge Agreements, on 65% of the present and future Capital Stock of certain present and future Foreign Subsidiaries and Guaranties of certain present and future Domestic Subsidiaries such that, at all times, the Domestic Subsidiaries which are not Guarantors and the Foreign Subsidiaries that do not have 65% of their Capital Stock pledged pursuant to Pledge Agreements do not, if considered in the aggregate as a single Subsidiary, constitute a Significant Subsidiary. In connection with the delivery of any such Guaranties and Pledge Agreement, the Company shall provide such other documentation to the Agent, including, without limitation, one or more opinions of counsel satisfactory to the Agent, corporate documents and resolutions, which in the reasonable opinion of the Agent is necessary or advisable in connection therewith.
Collateral Security; Further Assistance. As security for the payment of the Secured Obligations, the Borrower shall grant or cause to be granted to the Agent, for the ratable benefit of the Lenders, a lien on and security interest in all of the following, whether now or hereafter existing or acquired, and all proceeds thereof, all as more specifically described in the Security Documents: substantially all Property of the Borrower and of its Subsidiaries, whether now owned or hereafter acquired, provided that the Agent may in its discretion exclude Property from this definition of Collateral which is not material in the aggregate; provided, further that the Borrower and its Subsidiaries shall not be required to grant or cause to be granted the pledge of any Capital Stock of any Inactive Subsidiary or any Chapter 7 Subsidiary or the pledge of any Capital Stock of any Foreign Subsidiary which is prohibited by the laws of the jurisdiction of such Foreign Subsidiary (all of the foregoing Property defined herein as the "Collateral"). The Borrower will, and will cause each Subsidiary to, promptly (i) execute and deliver additional Security Documents, within five days after request therefor by the Agent, sufficient (as reasonably determined by the Agent) to grant to the Agent liens and security interests, securing all of the Secured Obligations, in any present or after acquired Collateral, and (ii) cause each Person that becomes a Subsidiary from time to time which is required to be a Guarantor as described in the definition of Guarantor to execute and deliver to the Lenders and the Agent, on the date such Person becomes a Subsidiary, a Guaranty and other Security Documents, together with other related documents described in Article IV sufficient to grant to the Agent for the benefit of the Lenders and the Agent liens and security interests in all Collateral securing the Secured Obligations. The Borrower shall notify the Agent, within five Business Days after the occurrence thereof, of the acquisition of any Collateral that is not subject to the existing Security Documents, and any other event or condition, other than the passage of time, that may require additional action of any nature in order to preserve the effectiveness and perfected status of the liens and security interests of the Agent with respect to all Collateral pursuant to the Security Documents, including, without limitation, delivering the originals of all promissory notes and other instruments to the Agent and delivering the originals of ...
Collateral Security; Further Assistance. (a) As security for the payment of the Obligations, the Company shall execute and deliver, or cause to be executed and delivered, to the Lenders and the Administrative Agent Loan Documents granting the following: first priority liens and security interests, pursuant to Pledge Agreements, on 65% of the present and future Capital Stock of certain present and future Foreign Subsidiaries and Guaranties of certain present and future Domestic Subsidiaries such that, at all times, the Domestic Subsidiaries which are not Guarantors and the Foreign Subsidiaries that are owned directly by the Company or any Domestic Subsidiary that do not have 65% of their Capital Stock pledged pursuant to Pledge Agreements do not, if considered in the aggregate as a single Subsidiary, constitute a Significant Subsidiary. For purposes of this Section 2.18, the assets of any Subsidiary shall be calculated based on the consolidated assets of such Subsidiary and its Subsidiaries. In connection with the delivery of any such Guaranties and Pledge Agreements, the Company shall provide such other documentation to the Administrative Agent, including, without limitation, one or more opinions of counsel satisfactory to the Administrative Agent, corporate documents and resolutions, which in the reasonable opinion of the Administrative Agent is necessary or advisable in connection therewith.
Collateral Security; Further Assistance. (i) The Secured Obligations shall be secured by a Lien on and security interest in the Pledged Stock under the terms and provisions contained in the Pledge Agreement.
Collateral Security; Further Assistance. (a) As security for the payment of the Obligations, the Company shall grant or cause to be granted to the Agent, for the ratable benefit of the Lenders, a Lien on and security interest in all of the following, whether now or hereafter existing or acquired, 100% of the shares of Capital Stock of each Domestic Subsidiary and 65% of the shares of Capital Stock of each Foreign Subsidiary now or hereafter directly owned by any Borrower or any Guarantor and all proceeds thereof, all as more specifically described in the Pledge Agreements; provided, that, the Company shall not be required to grant or cause to be granted the pledge of any Capital Stock of any Inactive Subsidiaries, the pledge of any Capital Stock of any Foreign Subsidiary which is prohibited by the laws of the jurisdiction of such Foreign Subsidiary or the pledge of any Capital Stock of any Subsidiary identified in Schedule 5.7 that the Company intends to consolidate with, merge into or otherwise combine with a Borrower or Guarantor within the next 60 days. If any Subsidiary the Company intends to consolidate, merge or otherwise combine with a Borrower or Guarantor are not so combined, the Company shall cause the Capital Stock of such Subsidiary to be pledged to the Lenders.
Collateral Security; Further Assistance. (1) As security for the payment of the Obligations, the Borrower shall cause to be granted to the Administrative Agent, for the ratable benefit of the Lenders, a Lien on and security interest in all of the
Collateral Security; Further Assistance. (a) As security for the payment of the Obligations, the Company shall execute and deliver, or cause to be executed and delivered, to the Lenders and the Agent Loan Documents granting the following: first priority liens and security interests, pursuant to Pledge Agreements, on 65% of the present and future Capital Stock of certain present and future Foreign Subsidiaries and Guaranties of certain present and future Domestic Subsidiaries such that, at all times, the Domestic Subsidiaries which are not Guarantors and the Foreign Subsidiaries that are owned by the Company or any Domestic Subsidiary that do not have 65% of their Capital Stock pledged pursuant to Pledge Agreements do not, if considered in the aggregate as a single Subsidiary, constitute a Significant Subsidiary. For purposes of this Section 2.18, the assets of any Subsidiary shall be calculated based on the consolidated assets of such Subsidiary and its Subsidiaries. In connection with the delivery of any such Guaranties and Pledge Agreement, the Company shall provide such other documentation to the Agent, including, without limitation, one or more opinions of counsel satisfactory to the Agent, corporate documents and resolutions, which in the reasonable opinion of the Agent is necessary or advisable in connection therewith. (b) Each of the Borrowers agrees that it will execute and deliver, and cause each Guarantor to execute and deliver, promptly upon the request of the Agent, such additional Collateral Documents and other agreements, documents and instruments, each in form and substance satisfactory to the Agent, sufficient to grant to the Agent, for the benefit of the relevant Lenders and the Agent, the liens and security interests contemplated by this Agreement and the Collateral Documents. 2.19
Collateral Security; Further Assistance. The provisions of Section 2.11 shall apply to Revolving Credit Loans.
Collateral Security; Further Assistance. (a) As security for the payment of the Obligations, the Borrowers shall cause to be granted to the Agent, for the ratable benefit of the Lenders, a Lien on and security interest in all of the following, whether now or hereafter existing or acquired: (i) all of the shares of capital stock of each Domestic Subsidiary now or hereafter owned by any Borrower or any Guarantor and all proceeds thereof, all as more specifically described in the Pledge Agreement; and (ii) not less than 65% (or 100% if requested by the Agent) of the outstanding shares of capital stock of each Foreign Subsidiary now or hereafter directly owned by any Borrower or any Guarantor and all proceeds thereof, all as more specifically described in the Pledge Agreements; and all other Property now or hereafter owned by any Borrower or any Guarantor and all proceeds thereof, all as more specifically described in the Collateral Documents.
Collateral Security; Further Assistance. (i) Pursuant to the Existing Credit Agreement, the Borrower granted, or caused to be granted, to the Agent, for the ratable benefit of the Agent and the Lenders, as security for the payment of the Secured Obligations, a Lien on and security interest in all of the following, whether now or hereafter existing or acquired: (a) all of the shares of capital stock of the Subsidiaries now or hereafter directly owned by the Borrower and all proceeds thereof, all as more specifically described in the Pledge Agreement; (b) certain of the assets now or hereafter directly owned by the Borrower and all proceeds thereof, all as more specifically described in the Security Agreement; and (c) certain of the assets now or hereafter directly owned by its Subsidiaries and all proceeds thereof, all as more specifically described in the Subsidiary Security Agreement. The Borrower hereby reaffirms and confirms the continuing legality, validity and enforceability of the Pledge Agreement and the Security Agreement and the Liens created thereby.
