Common use of Creation and Perfection of Certain Security Interests After the Issue Date Clause in Contracts

Creation and Perfection of Certain Security Interests After the Issue Date. The Company and the Guarantors will use their respective commercially reasonable efforts to create and perfect on the Issue Date the security interests in the Collateral for the benefit of the Trustee, the Collateral Trustee and the Holders, but to the extent any such security interest is not created or perfected, the Company and the Guarantors agree to do or cause to be done all acts and things that may be required, including satisfying the obligations set forth on Schedule 4.21, obtaining any required consents from third parties, to have all security interests in the Collateral duly created and enforceable and perfected, to the extent required by the Security Documents, but in no event later than 90 days (or such later date as set for on Schedule 4.21 or as may be agreed to in accordance with the Transaction Support Agreement and certified to the Trustee and Collateral Trustee, upon which the Trustee and Collateral Trustee may conclusively rely) thereafter. Except to the extent otherwise provided under Article XII hereof, failure to obtain such consents and create and perfect a security interest in such Collateral where required within 90 days (or such other date or extended date, as aforesaid) after the Issue Date shall constitute an Event of Default. Neither the Trustee nor the Collateral Trustee shall have any duty or responsibility to see to or monitor the performance of the Company and its Subsidiaries with regard to their compliance with this Section 4.21.

Creation and Perfection of Certain Security Interests After the Issue Date. The Company and the Guarantors will agree to use their respective commercially reasonable efforts to create and perfect on the Issue Date the security interests in the Collateral (and obtain title insurance) for the benefit of the Trustee, holders of the Collateral Trustee and the HoldersNotes, but to the extent any such security interest is not created or perfectedperfected or title insurance obtained by such date, the Company and the Guarantors hereby agree to use their respective commercially reasonable efforts to do or cause to be done all acts and things that may would be required, including satisfying the obligations set forth on Schedule 4.21, obtaining any required consents from third parties, to have all security interests in the Collateral duly created and enforceable and perfected, to the extent required by the Security Documents, and obtain title insurance promptly following the Issue Date, but in no event later than 90 days (or such later date as set for on Schedule 4.21 or as may be agreed to in accordance with the Transaction Support Agreement and certified to the Trustee and Collateral Trustee, upon which the Trustee and Collateral Trustee may conclusively rely) thereafter. Except to the extent otherwise provided under Article XII hereof, failure Failure to obtain such consents and create and perfect a security interest in such Collateral where required or to obtain title insurance within 90 days (or such other date or extended date, as aforesaid) after the Issue Date shall constitute period constitutes an Event of DefaultDefault to the extent provided under clause (i) under Section 6.01. Notwithstanding the foregoing, if after using commercially reasonable efforts such a security interest in an asset could not be created or perfected because a third party consent had not been obtained or local law did not permit a security interest to more than one secured party, the Company will not be required to create or perfect such security interest. For avoidance of doubt, references in this paragraph to Collateral do not include Excluded Assets. Neither the Trustee nor the Collateral Trustee shall have on behalf of the holders of the Notes has any duty or responsibility to see to or monitor the performance of the Company and its Subsidiaries with regard to their compliance with this Section 4.21these matters.