Common use of Collateral Security Perfection Clause in Contracts

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. Each of the Borrowers The Borrower and each of the Guarantors agrees Guarantor agree to take all action that the Agent Agents 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 Agents' and the Agent, Banks' Liens upon the Collateral and for such Liens to obtain the priority therefor contemplated hereby, including, without limitation, executing and delivering such ship mortgages and related 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 the Agent Agents or any Bank may reasonably request.

Collateral Security Perfection. Each of the Borrowers The Borrower and each of the Guarantors agrees Guarantor agree to take all action actions that the Agent Agents or any Bank Lender may reasonably request as a matter of nonbankruptcy law to perfect and protect the Agent's Liens, for the benefit of the Banks Agents' and the Agent, 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 Agent Agents or any Bank Lender may reasonably request.