Corporate Names and Location of Collateral. No Company shall change its corporate name, unless, in each case, such Company shall provide Agent and the Banks with at least thirty (30) days prior written notice thereof. No Company shall use trade names, assumed names or fictitious names without giving Agent and the Banks at least thirty (30) days prior written notice thereof. Borrowers shall also provide Agent with at least thirty (30) days prior written notification of (a) any change in any location where any Company’s Inventory or Equipment is maintained and any new locations where any Company’s Inventory or Equipment is to be maintained (provided that such Inventory and/or Equipment at any time can reasonably be expected to have an aggregate value in excess of $500,000); (b) any change in the location of the office where any Company’s records pertaining to its Accounts are kept; (c) the location of any new places of business and the changing or closing of any of its existing places of business; and (d) any change in any Company’s chief executive office. In the event of any of the foregoing or as a result of any change of applicable law with respect to the taking of security interests, Borrowers agree that Agent may file new U.C.C. financing statements describing the Collateral and otherwise in form and substance sufficient for recordation wherever necessary or appropriate, as determined in Agent’s sole discretion, to perfect or continue perfected the security interest of Agent, for the benefit of the Banks, in the Collateral, based upon such new places of business or names or such change in applicable law, and Borrowers shall pay all filing and recording fees and taxes in connection with the filing or recordation of such financing statements and shall immediately reimburse Agent therefor if Agent pays the same. Such amounts shall be Related Expenses hereunder.
Appears in 1 contract
Samples: Credit and Security Agreement (MTC Technologies Inc)
Corporate Names and Location of Collateral. No Company Grantor shall (a) change its corporate name, unless, or (b) change its jurisdiction or form of organization or extend or continue its existence in each case, or to any other jurisdiction (other than its jurisdiction of organization at the date of this Agreement) unless such Company Grantor shall provide have provided the Collateral Agent with any and all Additional Documents necessary to maintain the Banks with at least thirty (30) days prior written notice thereofperfection of the Collateral Agent’s Liens on the Collateral. No Company shall use trade names, assumed names or fictitious names without giving Agent and the Banks at least thirty (30) days prior written notice thereof. Borrowers Each Grantor shall also provide the Collateral Agent with at least thirty (30) days prior written notification of (ai) any change in any location where any Company’s Inventory or Equipment is maintained and any new locations where any Company’s of the Inventory or Equipment of such Grantor is to be maintained (provided that such Inventory and/or Equipment at any time can reasonably be expected to have an aggregate value in excess of $500,000)maintained; (b) any change in the location of the office where any Company’s records pertaining to its Accounts are kept; (cii) the location of any new places of business and or the changing or closing of any of its existing places of business; and (diii) any change in any Companysuch Grantor’s chief executive office. In the event of any of the foregoing or as a result of any change of applicable law with respect the Grantor shall, and the Collateral Agent is hereby authorized to the taking of security interests, Borrowers agree that Agent may file new U.C.C. financing statements Financing Statements describing the Collateral and otherwise in form and substance sufficient for recordation wherever necessary or appropriate, as determined in Agent’s sole discretionnecessary, to perfect or continue perfected the security interest of the Collateral Agent, for the benefit of the BanksSecured Parties, in the Collateral, based upon provided, however, that no such new places of business or names or authorization shall obligate the Collateral Agent to make any such change in applicable law, and Borrowers filing. Grantors shall pay all filing and recording fees and taxes in connection with the filing or recordation of such financing statements U.C.C. Financing Statements and shall immediately reimburse the Collateral Agent therefor if the Collateral Agent pays the same. Such amounts not so paid or reimbursed shall be Related Expenses hereunderexpenses secured by the Lien of this Agreement on the Collateral.
Appears in 1 contract
Samples: Security Agreement (Kratos Defense & Security Solutions, Inc.)
Corporate Names and Location of Collateral. No Company Grantor shall (a) change its corporate name, unless, or (b) change its jurisdiction or form of organization or extend or continue its existence in each case, or to any other jurisdiction (other than its jurisdiction of organization at the date of this Agreement) unless such Company Grantor shall provide have provided the Collateral Agent with any and all Additional Documents necessary to maintain the Banks with at least thirty (30) days prior written notice thereofperfection of the Collateral Agent's Liens on the Collateral. No Company shall use trade names, assumed names or fictitious names without giving Agent and the Banks at least thirty (30) days prior written notice thereof. Borrowers Each Grantor shall also provide the Collateral Agent with at least thirty (30) days prior written notification of (ai) any change in any location where any Company’s Inventory or Equipment is maintained and any new locations where any Company’s of the Inventory or Equipment of such Grantor is to be maintained (provided that such Inventory and/or Equipment at any time can reasonably be expected to have an aggregate value in excess of $500,000)maintained; (b) any change in the location of the office where any Company’s records pertaining to its Accounts are kept; (cii) the location of any new places of business and or the changing or closing of any of its existing places of business; and (diii) any change in any Company’s such Grantor's chief executive office. In the event of any of the foregoing or as a result of any change of applicable law with respect the Grantor shall, and the Collateral Agent is hereby authorized to the taking of security interests, Borrowers agree that Agent may file new U.C.C. financing statements Financing Statements describing the Collateral and otherwise in form and substance sufficient for recordation wherever necessary or appropriate, as determined in Agent’s sole discretionnecessary, to perfect or continue perfected the security interest of the Collateral Agent, for the benefit of the BanksSecured Parties, in the Collateral, based upon provided, however, that no such new places of business or names or authorization shall obligate the Collateral Agent to make any such change in applicable law, and Borrowers filing. Grantors shall pay all filing and recording fees and taxes in connection with the filing or recordation of such financing statements U.C.C. Financing Statements and shall immediately reimburse the Collateral Agent therefor if the Collateral Agent pays the same. Such amounts not so paid or reimbursed shall be Related Expenses hereunderexpenses secured by the Lien of this Agreement on the Collateral.
Appears in 1 contract
Samples: Security Agreement (Kratos Defense & Security Solutions, Inc.)
Corporate Names and Location of Collateral. No Company shall change its corporate name, unless, in each case, such Company shall provide Agent and the Banks with at least thirty (30) days prior written notice thereof. No Company shall use trade names, assumed names or fictitious names without giving Agent and the Banks at least thirty (30) days prior written notice thereof. Borrowers shall also provide Agent with at least thirty (30) days prior written notification of (a) any change in any location where any Company’s 's Inventory or Equipment is maintained and any new locations where any Company’s 's Inventory or Equipment is to be maintained (provided that such Inventory and/or Equipment at any time can reasonably be expected to have an aggregate value in excess of $500,000); (b) any change in the location of the office where any Company’s 's records pertaining to its Accounts are kept; (c) the location of any new places of business and the changing or closing of any of its existing places of business; and (d) any change in any Company’s 's chief executive office. In the event of any of the foregoing or as a result of any change of applicable law with respect to the taking of security interests, Borrowers agree that Agent may file new U.C.C. financing statements describing the Collateral and otherwise in form and substance sufficient for recordation wherever necessary or appropriate, as determined in Agent’s 's sole discretion, to perfect or continue perfected the security interest of Agent, for the benefit of the Banks, in the Collateral, based upon such new places of business or names or such change in applicable law, and Borrowers shall pay all filing and recording fees and taxes in connection with the filing or recordation of such financing statements and shall immediately reimburse Agent therefor if Agent pays the same. Such amounts shall be Related Expenses hereunder.
Appears in 1 contract
Samples: Credit and Security Agreement (MTC Technologies Inc)