Common use of Execution of Guaranty and Personal Property Collateral Documents Clause in Contracts

Execution of Guaranty and Personal Property Collateral Documents. In the event that any Person becomes a Wholly Owned Subsidiary (other than any Foreign Subsidiary) of Company after the date hereof, Company will promptly (and, in any event, within 30 days) notify Administrative Agent of that fact and cause such Subsidiary to execute and deliver to Administrative Agent a counterpart of the Guaranty and Security Agreement and promptly thereafter (and, in any event, within 45 days unless Administrative Agent shall have consented to a longer period in its sole discretion) take all actions to perfect Collateral Agent’s security interest in all assets of such Person pledged under the Security Agreement to the extent required thereby. In addition, as provided in the Security Agreement, Company shall, or shall cause each Guarantor that owns the Capital Stock of such Person to, execute and deliver to Administrative Agent a supplement to the Security Agreement and to deliver to Collateral Agent all certificates representing such Capital Stock of such Person (accompanied by irrevocable undated stock powers, duly endorsed in blank) and pledged debt instruments.

Execution of Guaranty and Personal Property Collateral Documents. In the event that any Person becomes a Wholly Owned Subsidiary (other than any Foreign Subsidiary) of Company Borrower after the date hereof, Company Borrower will promptly (and, in any event, within 30 days) notify Administrative Agent Lender of that fact and cause such Subsidiary to execute and deliver to Administrative Agent the Lender a counterpart of the Guaranty this Agreement and Security Agreement and promptly thereafter (and, in any event, within 45 days unless Administrative Agent the Lender shall have consented to a longer period in its sole discretion) take all actions to perfect Collateral Agent’s the Secured Parties’ security interest in all assets of such Person pledged under the Security Agreement to the extent required thereby. In addition, as provided in the Security Agreement, Company Borrower shall, or shall cause each Guarantor that owns the Capital Stock Equity Interests of such Person to, execute and deliver to Administrative Agent the Lender a supplement to the Security Agreement and to deliver to Collateral the Term Loan Agent all certificates certificates, if any, representing such Capital Stock Equity Interests of such Person (accompanied by irrevocable undated stock powers, duly endorsed in blank) and pledged debt instruments.

Execution of Guaranty and Personal Property Collateral Documents. In the event that any Person becomes a Wholly Owned Subsidiary (other than any Foreign Subsidiary) of Company after the date hereof, Company will promptly (and, in any event, within 30 days) notify Administrative Agent of that fact and cause such Subsidiary to execute and deliver to Administrative Agent a counterpart of the Guaranty and Security Agreement and promptly thereafter (and, in any event, within 45 days unless Administrative Agent shall have consented to a longer period in its sole discretion) take all actions to perfect Collateral Agent’s security interest in all assets of such Person pledged under the Security Agreement to the extent required thereby. In addition, as provided in the Security Agreement, Company shall, or shall cause each Guarantor that owns the Capital Stock of such Person to, execute and deliver to Administrative Agent a supplement to the Security Agreement and to deliver to Collateral Agent all certificates certificates, if any, representing such Capital Stock of such Person (accompanied by irrevocable undated stock powers, duly endorsed in blank) and pledged debt instruments.