Common use of Continued Perfection of Security Interests Clause in Contracts

Continued Perfection of Security Interests. (a) With respect to any property acquired after the First Funding Date by the Borrower (other than (x) any property described in paragraph (b) below), (y) any property constituting Excluded Assets and (z) any property subject to a Lien expressly permitted by Section 7.3 as to which the Collateral Agent, for the benefit of the Secured Parties, does not have a perfected Lien) the Borrower shall promptly (i) execute and deliver to the Collateral Agent such amendments to the Security Documents or such other documents as the Required Lenders deem necessary or advisable to grant to the Collateral Agent, for the benefit of the Secured Parties, a security interest in such property, and (ii) take all actions necessary or advisable to grant to the Collateral Agent, for the benefit of the Secured Parties, a perfected first priority security interest in such property, including the entering into of account control agreements, delivery of Collateral that can be perfected by possession and the filing of UCC financing statements in such jurisdictions as may Yards Creek – Credit Agreement be required by the Security Documents or by law or as may be reasonably requested by the Collateral Agent; provided that the actions contemplated by clause (ii) shall not be required in respect of any such property if perfection of the security interest in such property requires more than the entering into of account control agreements and the filing of UCC financing statements or delivery of Collateral that can be perfected by possession unless the value of such property, individually or in the aggregate, is equal to $1,000,000 or more.

Continued Perfection of Security Interests. (a) With respect to any property acquired after the First Funding Closing Date by the Borrower Company (other than (x) any property described in paragraph (b) below), (y) any property constituting Excluded Assets and (z) any property subject to a Lien expressly permitted by Section 7.3 10.4 as to which the Collateral Agent, for the benefit of the Secured Parties, does not have a perfected Lien) the Borrower shall promptly (i) execute and deliver to the Collateral Agent such amendments to the Security Documents or such other documents as the Required Lenders deem Holders or the Collateral Agent deems necessary or advisable to grant to the Collateral Agent, for the benefit of the Secured Parties, a security interest in such property, and (ii) take all actions necessary or advisable to grant to the Collateral Agent, for the benefit of the Secured Parties, a perfected first priority security interest in such property, including the entering into of account control agreements, delivery of Collateral that can be perfected by possession and the filing of UCC Uniform Commercial Code financing statements in such jurisdictions as may Yards Creek – Credit Agreement be required by the Security Documents or by law or as may be reasonably requested by the Collateral Agent; provided provided, that the actions contemplated by clause (ii) shall not be required in respect of any such property if perfection of the security interest in such property requires more than the entering into of account control agreements and the filing of UCC Uniform Commercial Code financing statements or delivery of Collateral that can be perfected by possession unless the value of such property, individually or in the aggregate, is equal to $1,000,000 or more.

Continued Perfection of Security Interests. (a) With respect to any property acquired after the First Funding Date by the Borrower (other than (x) any property described in paragraph (b) below), (y) any property constituting Excluded Assets and (z) any property subject to a Lien expressly permitted by Section 7.3 8.4 as to which the Collateral Agent, for the benefit of the Secured Parties, does not have a perfected Lien) the Borrower shall promptly (i) execute and deliver to the Collateral Agent such amendments to the Security Documents or such other documents as the Required Lenders deem Financing Parties or the Collateral Agent deems necessary or advisable to grant to the Collateral Agent, for the benefit of the Secured Parties, a security interest in such property, and (ii) take all actions necessary or advisable to grant to the Collateral Agent, for the benefit of the Secured Parties, a perfected first priority security interest in such property, including the entering into of account control agreements, delivery of Collateral that can be perfected by possession and the filing of UCC Uniform Commercial Code financing statements in such jurisdictions as may Yards Creek – Credit Agreement be required by the Security Documents or by law or as may be reasonably requested by the Collateral Agent; provided that the actions contemplated by clause (ii) shall not be required in respect of any such property if perfection of the security interest in such property requires more than the entering into of account control agreements and the filing of UCC Uniform Commercial Code financing statements or delivery of Collateral that can be perfected by possession unless the value of such property, individually or in the aggregate, is equal to $1,000,000 or more.. Aspen Bath – Common Terms Agreement