Collateral Security Perfection Sample Clauses
The Collateral Security Perfection clause establishes the requirement for a borrower or debtor to take all necessary steps to ensure that a lender’s security interest in collateral is legally enforceable and prioritized over other claims. This typically involves actions such as filing financing statements, registering liens, or delivering possession or control of certain assets to the secured party. By mandating these steps, the clause ensures that the lender’s rights to the collateral are protected and can be effectively exercised in the event of default, thereby reducing the lender’s risk and clarifying the enforceability of their security interest.
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Collateral Security Perfection. The Borrower agrees to take, and cause each of its Subsidiaries that are Loan Parties to take, all actions that the Administrative Agent or the Required Lenders may reasonably request as a matter of nonbankruptcy law to perfect and protect the security interests and Liens granted by the Loan Parties for the benefit of the Secured Parties upon the Collateral and for such security interests and Liens to obtain the priority therefor contemplated hereby, including, without limitation, executing and delivering such documents and instruments, financing statements and providing such other instruments and documents in recordable form as the Administrative Agent or any Lender may reasonably request, subject to any applicable limitations set forth in the Loan Documents. The Borrower hereby irrevocably authorizes the Administrative Agent at any time and from time to time to file in any filing office in any UCC jurisdiction any initial financing statements and amendments thereto naming the Borrower as “debtor” that (a) indicate the Collateral (i) as all assets of the Borrower or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls within the scope of Article 9 of the UCC, or (ii) as being of an equal or lesser scope or with greater detail, and (b) provide any other information required by part 5 of Article 9 of the UCC for the sufficiency or filing office acceptance of any financing statement or amendment, including (i) whether the Borrower is an organization, the type of organization and any organization identification number issued to the Borrower and (ii) in the case of a financing statement filed as a fixture filing, a sufficient description of real property to which the Collateral relates. The Borrower agrees to furnish any such information to the Administrative Agent and the Tranche B Advisors promptly upon request. Notwithstanding the provisions of this Section 2.18, the Administrative Agent and the Lenders shall have the benefits of the Interim Financing Order and the Final Financing Order as set forth in Section 4.01(j).
Collateral Security Perfection. Each of the Borrowers and each of the Guarantors agrees to take all action that the Agent or any Bank may reasonably request as a matter of nonbankruptcy law to perfect and protect the Agent's Liens, for the benefit of the Banks and the Agent, upon the Collateral and for such Liens to obtain the priority therefor contemplated hereby, including, without limitation, executing and delivering such financing statements, providing such notices and assents of third parties, obtaining such governmental approvals and providing such other instruments and documents in recordable form as the Agent or any Bank may reasonably request.
Collateral Security Perfection. Notwithstanding the provisions of Section 2.08(b), the Loan Parties agree to take all action that the Administrative Agent may reasonably request as a matter of nonbankruptcy law to perfect and protect the Administrative Agent’s Liens, upon the Collateral and for such Liens to obtain the priority therefor contemplated hereby. Each Loan Party hereby irrevocably authorizes the Administrative Agent at any time and from time to time to file in any filing office in any jurisdiction any initial financing statements and amendments thereto that (a) use collateral descriptions such as “all personal property” or “all assets”, in each case “whether now owned or hereafter acquired”, words of similar import or any other description the Administrative Agent, in its sole discretion, so chooses in any such financing statements, and (b) provide any other information required by part 5 of Article 9 of the UCC for the sufficiency or filing office acceptance of any financing statement or amendment, including (i) whether such Loan Party is an organization, the type of organization and any organization identification number issued to such Loan Party and,
Collateral Security Perfection. The Borrower and each Guarantor agree to take all actions that the Agents or any Lender may reasonably request as a matter of nonbankruptcy law to perfect and protect the Agents' and the Lenders' Liens upon the Collateral and for such Liens to obtain the priority therefor contemplated hereby, including, without limitation, executing and delivering such financing statements, providing such notices and assents of third parties, obtaining such governmental 57 -49- approvals and providing such other instruments and documents in recordable form as the Agents or any Lender may reasonably request.
Collateral Security Perfection. The Borrower agrees to take (or cause to be taken) from time to time all action that the Agent or any Bank may reasonably request as a matter of nonbankruptcy law to perfect and protect the Agent's and the Banks' Liens upon the Collateral and for such Liens to obtain the priority therefor contemplated hereby, including, without limitation, executing and delivering (and filing) such financing statements, providing such notices and assents of third parties, the recording of the Mortgages, obtaining such governmental approvals and providing such other instruments and documents in recordable form as the Agent or any Bank may reasonably request.
Collateral Security Perfection. The Borrower agrees that the Lender shall be perfected in the Collateral immediately upon the entry of the DIP Order without any further action by Lender. Notwithstanding this, Borrower agrees to take all action that the Lender may reasonably request as a matter of non-bankruptcy law to perfect and protect the Lender’s liens upon the Collateral and for such liens to obtain the priority therefor contemplated hereby, including, without limitation, executing and delivering such financing statements, providing such notices and assents of third parties, obtaining such governmental approvals and providing such other instruments and documents in recordable form as the Lender may reasonably request, provided, however, that the failure to provide documentation and other arrangements to perfect the Lender’s interests in the Collateral shall not affect the validity and perfection of the Lender’s liens upon the Collateral as provided in the DIP Order. Borrower agrees that financing statements filed hereunder shall be sufficient notwithstanding that the collateral description contained therein refers to “all assets” of Borrower or similar language.
Collateral Security Perfection. Each Credit Party agrees to take all actions that Collateral Agent may reasonably request as a matter of nonbankruptcy law to perfect and protect Collateral Agent’s and the Lenders’ Liens upon the Collateral and for such Liens to obtain the priority therefor contemplated hereby, including, without limitation, executing and delivering such documents and instruments, financing statements, providing such notices and assents of third parties, obtaining such governmental approvals and providing such other instruments and documents in recordable form as Collateral Agent may request. Each Credit Party hereby irrevocably authorizes Collateral Agent at any time and from time to time to file in any filing office in any U.C.C. jurisdiction any initial financing statements and amendments thereto that (a) indicate the Collateral (i) as “all assets” or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls within the scope of Article 9 of the U.C.C. of such jurisdiction, or (ii) as being of an equal or lesser scope or with greater detail, and (b) provide any other information required by part 5 of Article 9 of the U.C.C. of any jurisdiction for the sufficiency or filing office acceptance of any financing statement or amendment, including (i) whether such Credit Party is an organization, the type of organization and any organization identification number issued to such Credit Party, and, (ii) in the case of a financing statement filed as a fixture filing, a sufficient description of real property to which the Collateral relates. Each Credit Party agrees to furnish any such information to Collateral Agent promptly upon Collateral Agent’s request.
Collateral Security Perfection. The Borrower agrees to take all action that the Agents or any Lender may reasonably request as a matter of nonbankruptcy law to perfect and protect the Lender Group's Liens upon the Collateral and for such Liens to obtain the priority therefor contemplated hereby, including, without limitation, executing and delivering such financing statements, providing such notices and assents of third parties, obtaining such governmental approvals and providing such other instruments and documents in recordable form as the Agents or any Lender may reasonably request.
Collateral Security Perfection. Notwithstanding the provisions of Section 2.08(b), the Loan Parties agree to take all action that the Administrative Agent may reasonably request as a matter of nonbankruptcy law to perfect and protect the Administrative Agent’s Liens, upon the Collateral and for such Liens to obtain the priority therefor contemplated hereby. Each Loan Party hereby irrevocably authorizes the Administrative Agent at any time and from time to time to file in any filing office in any jurisdiction any initial financing statements and amendments thereto that (a) use collateral descriptions such as “all personal property” or “all assets”, in each case “whether now owned or hereafter acquired”, words of similar import or any other description the Administrative Agent, in its sole discretion, so chooses in any such financing statements, and (b) provide any other information required by part 5 of Article 9 of the UCC for the sufficiency or filing office acceptance of any financing statement or amendment, including (i) whether such Loan Party is an organization, the type of organization and any organization identification number issued to such Loan Party and, (ii) in the case of a financing statement filed as a fixture filing, a sufficient description of real property to which the Collateral relates. Each Loan Party agrees to furnish any such information to the Administrative Agent promptly upon request. Notwithstanding the provisions of this Section 2.08(c), the Administrative Agent shall have the benefits of the Final Order as set forth in Section 5.02 hereof.