Continued Perfection of Security Sample Clauses
The Continued Perfection of Security clause ensures that a lender’s security interest in collateral remains valid and enforceable throughout the duration of a loan or credit agreement. In practice, this clause typically requires the borrower to take all necessary actions—such as filing additional documents, renewing registrations, or providing information—to maintain the legal effectiveness of the lender’s security interest. By mandating ongoing compliance, the clause protects the lender from losing its secured status due to administrative lapses or changes in law, thereby safeguarding its ability to recover the collateral if the borrower defaults.
Continued Perfection of Security. Each of the Borrowers and the Guarantors shall take such action and execute and deliver to the Administration Agent such agreements, conveyances, deeds and other documents and instruments as the Administration Agent may request for the purpose of establishing, perfecting, preserving and protecting the security constituted by the Security Documents, in each case forthwith upon request by the Administration Agent and in form and substance satisfactory to the Administration Agent, acting reasonably.
Continued Perfection of Security. The Group Entities shall take such action and execute and deliver to the Lenders such agreements, conveyances, deeds and other documents and instruments as the Lenders may reasonably request for the purpose of establishing, perfecting, preserving and protecting the Security Documents, in each case forthwith upon request by the Lenders and in form and substance satisfactory to the Lenders, acting reasonably.
Continued Perfection of Security. (1) Upon the consummation of any of the Contemplated Acquisitions (and in no event beyond 15 days from such acquisition), each of the Borrowers shall (i) execute security agreements in form and substance reasonably satisfactory to the Bridge Lender (such agreements, the “Security Agreements”), (ii) obtain any necessary third party consents and (iii) make any filings necessary under law (in any jurisdiction, domestic or foreign) to grant Bridge Lender a first priority security interest in the RG Priority Property (subject to the terms of the Macquarie Intercreditor Agreement) and any proceeds of the foregoing (it being understood however, that the Bridge Lender shall make all such further filings as it deems necessary, as contemplated by the Closing Security Agreement, or if required by law, the Borrowers shall make such filings). Additionally, the Borrowers agree to establish the Royalty Proceeds Account within 20 days after the Closing Date and simultaneously with the establishment of the Royalty Proceeds Account, each Borrower shall execute a control agreement with respect to such Royalty Proceeds Account for the benefit of Bridge Lender (a “Control Agreement”), it being understood that amounts from the RG Priority Property may not be paid into the Royalty Proceeds Account until after the RG Priority Date.
(2) In the event that either of the Borrowers shall acquire or form any new subsidiary after the date hereof, such Borrower will cause such new subsidiary within 10 days of the consummation of such acquisition or the formation of such subsidiary to execute a security agreement and such other documents, instruments, or filings as may be necessary to create a security interest in the equity of such new subsidiary and all of the assets of such subsidiary.
(3) Each Borrower shall at its cost take such action and execute and deliver to the Bridge Lender such agreements, conveyances, deeds, releases and other documents and instruments as the Bridge Lender shall reasonably request for the purpose of establishing, perfecting, preserving and protecting the enforceability of the Security and the Lien thereof, in each case forthwith upon request therefor by the Bridge Lender and in form and substance satisfactory to the Bridge Lender acting reasonably.
Continued Perfection of Security. The Obligors shall take such action and execute and deliver to the Lender and the Collateral Agent such agreements, conveyances, deeds and other documents and instruments as the Lender and the Collateral Agent shall reasonably request for the purpose of establishing, perfecting, preserving and protecting the Security Documents and the Encumbrances of the Security Documents, in each case promptly upon request therefor by the Collateral Agent and in form and substance satisfactory to the Lender acting reasonably.
Continued Perfection of Security. The Borrower shall take such action and execute and deliver to the Agent such agreements, conveyances, deeds and other documents and instruments as the Agent shall reasonably request for the purpose of establishing, perfecting, preserving and protecting the Security and the Liens of the Security, in each case promptly upon request therefor by the Agent and in form and substance satisfactory to the Secured Parties acting reasonably.
Continued Perfection of Security. 68 11.03 SET-OFF................................................................68 11.04 CONFLICT...............................................................69 ARTICLE 12 EVENTS OF DEFAULT
Continued Perfection of Security. Each Obligor shall at its cost take such action and execute and deliver to the Facility Provider such agreements, conveyances, deeds and other documents and instruments as the Facility Provider shall reasonably request for the purpose of establishing, perfecting, preserving and protecting the enforceability of the Security and the Lien thereof, in each case forthwith upon request therefor by the Facility Provider and in form and substance satisfactory to the Facility Provider acting reasonably.
Continued Perfection of Security. The Borrower shall take such action and execute and deliver to the Lender such agreements, conveyances, deeds and other documents and instruments as the Lender shall reasonably request for the purpose of establishing, perfecting, preserving and protecting the enforceability of the Security and the Lien thereof, in each case forthwith upon request therefor by the Lender and in form and substance satisfactory to the Lender acting reasonably.
Continued Perfection of Security. Each Obligor shall at its cost take such action and execute and deliver to the Bridge Lender such agreements, conveyances, deeds and other documents and instruments as the Bridge Lender shall reasonably request for the purpose of establishing, perfecting, preserving and protecting the enforceability of the Security and the Lien thereof, in each case forthwith upon request therefor by the Bridge Lender and in form and substance satisfactory to the Bridge Lender acting reasonably.
Continued Perfection of Security. Subject to the Agreed Security Principles, the Borrower shall:
(a) deliver and/or perfect the Security in the Collateral referred to in the proviso in Section 6.1(1) (including Mortgages and the other deliverables set forth in Section 8.1(c) on the Material Real Properties of the Loan Parties as set forth on Schedule 8.5 within 90 days (or such longer period as the Administrative Agent may reasonably agree in its sole discretion)) after the Closing Date; and
(b) take such action and execute and deliver to the Collateral Agent such agreements, conveyances, deeds and other documents and instruments as the Collateral Agent shall reasonably request for the purpose of establishing, perfecting, preserving and protecting the Security and the Liens of the Security to the extent contemplated by this Agreement and the Security Documents, in each case forthwith upon request therefor by the Collateral Agent and in form and substance satisfactory to the Collateral Agent, acting reasonably.