Further Assurances; Additional Guarantors; Additional Security Sample Clauses
The "Further Assurances; Additional Guarantors; Additional Security" clause requires parties, typically borrowers, to take additional actions or provide further documentation as needed to ensure the effectiveness and enforceability of the agreement, especially regarding guarantees and collateral. In practice, this may involve the borrower agreeing to sign extra documents, add new guarantors, or grant more security interests if requested by the lender during the term of the agreement. The core function of this clause is to ensure that the lender's interests remain fully protected and that any gaps in security or guarantees can be addressed promptly, thereby reducing the lender's risk.
Further Assurances; Additional Guarantors; Additional Security. (a) Execute any and all further documents, financing statements, agreements and instruments, and take all such further actions (including the filing and recording of financing statements and other documents), that the Collateral Agent may reasonably request (including, without limitation, those required by applicable law), to satisfy the Collateral and Guarantee Requirement and to cause the Collateral and Guarantee Requirement to be and remain satisfied, all at the expense of the Loan Parties and provide to the Collateral Agent, from time to time upon reasonable request, evidence reasonably satisfactory to the Collateral Agent as to the perfection of the Liens created or intended to be created by the Security Documents.
(b) If any asset (other than Real Property) is acquired by any Loan Party after the Spinoff Date or owned by an entity at the time it becomes a Guarantor (in each case other than (x) assets constituting Collateral under a Security Document that automatically become subject to the Lien of such Security Document upon acquisition thereof, (y) assets constituting Excluded Property and (z)(i) in the case of a Loan Party organized under the laws of the United States or any state thereof, assets (other than Equity Interests) owned thereby and located outside of the United States, (ii) in the case of a Loan Party organized under the laws of England and Wales, assets (other than Equity Interests) owned thereby and located outside of England and Wales, (iii) in the case of Adient Global Holdings Ltd, assets (other than Equity Interests) owned thereby and located outside of Jersey and (iv) in the case of Parent, assets (other than Equity Interests) owned thereby and located outside of Ireland), such Loan Party will, (A) notify the Collateral Agent of such acquisition or ownership (provided that this clause (A) will be deemed satisfied with respect to any applicable asset so long as such notice is delivered on the first date on which financial statements are required to be delivered pursuant to Section 5.04(a) or (b) which occurs at least 10 business days after the acquisition of such asset, or at any time prior thereto) and (B) cause such asset to be subjected to a Lien (subject to any Permitted Liens) securing the Obligations by, and take, and cause the Guarantors to take, such actions as shall be reasonably requested by the Collateral Agent to satisfy the Collateral and Guarantee Requirement to be satisfied with respect to such asset, including acti...
Further Assurances; Additional Guarantors; Additional Security. Subject to the limitations and exceptions of this Agreement, including, without limitation, the provisions of the Collateral and Guarantee Requirement, Section 5.11 and the last two paragraphs of this Section 5.10, any applicable limitation in any Security Document, and the terms and provisions of any Intercreditor Agreement: