Common use of Continued Perfection of Security Interests Clause in Contracts

Continued Perfection of Security Interests. The Company and its Subsidiaries party to any of the Security Docu- ments shall have taken or cause to be taken all such actions deemed necessary or desirable by the Obligee to ensure that Collateral Agent or the Obligee has and continues to have a valid and perfected security interest in the Collateral granted by the Security Documents subject to the Liens permitted pursuant to this Agreement and the Security Documents (and the Obligee and Collateral Agent shall have received satisfactory evidence thereof). Such action shall include: (i) the delivery by the Company pursuant to the Stock Pledge Agreement of certificates (which certificates shall be registered in the name of Collateral Agent or properly endorsed in blank for transfer or accompanied by irrevocable undated stock powers duly endorsed in blank, all in form and substance satisfactory to Collateral Agent and the Obligee) representing all Subsidiary Stock; (ii) the delivery to Collateral Agent of Uniform Commercial Code financing statements, executed by each of the Company and each of its Subsidiaries as to the Col- lateral granted by each such party for all jurisdictions as may be necessary or desirable to perfect or continue the perfection of Collateral Agent's security interest in such Collateral; and (iii) evidence reasonably satisfactory to Collateral Agent and the Obligee that all other filings, recordings and other actions Collateral Agent and the Obligee deems necessary or advisable to establish, preserve and perfect the Liens and the priority thereof granted to Collateral Agent and the Obligee hereunder shall have been made.

Continued Perfection of Security Interests. The Company and its Subsidiaries party to any of the Security Docu- ments Documents shall have taken or cause to be taken all such actions deemed necessary or desirable by the Obligee to ensure that Collateral Agent or the Obligee has and continues to have a valid and perfected security interest in the Collateral granted by the Security Documents subject to the Liens permitted pursuant to this Agreement and the Security Documents (and the Obligee and Collateral Agent shall have received satisfactory evidence thereof). Such action shall include: (i) the delivery by the Company pursuant to the Stock Pledge Agreement of certificates (which certificates shall be registered in the name of Collateral Agent or properly endorsed in blank for transfer or accompanied by irrevocable undated stock powers duly endorsed in blank, all in form and substance satisfactory to Collateral Agent and the Obligee) representing all Subsidiary Stock; (ii) the delivery to Collateral Agent of Uniform Commercial Code financing statements, executed by each of the Company and each of its Subsidiaries as to the Col- lateral Collateral granted by each such party for all jurisdictions as may be necessary or desirable to perfect or continue the perfection of Collateral Agent's security secu- rity interest in such Collateral; and (iii) evidence reasonably satisfactory to Collateral Agent and the Obligee that all other filings, recordings and other actions Collateral Agent and the Obligee deems necessary or advisable to establish, preserve and perfect the Liens and the priority thereof granted to Collateral Agent and the Obligee hereunder shall have been made.