Common use of Future Liens on Real Property Clause in Contracts

Future Liens on Real Property. Upon the request of the Agent or Requisite Lenders, the Borrowers and Parent shall, and shall cause the other Guarantors to, execute and deliver to the Agent, for the benefit of the Holders, immediately upon the acquisition or leasing by a Borrower, Parent or any other Guarantor of any Real Property on which any Inventory of a Borrower or any Guarantor is located, a mortgage, deed of trust, assignment or other appropriate instrument evidencing a Lien upon such Real Property, lease or interest, together with such title insurance policies (mortgagee's form), certified surveys, appraisals, and local counsel opinions with respect thereto and such other agreements, documents and instruments which the Agent deems reasonably necessary or desirable, the same to be in form and substance acceptable to the Agent and to be subject only to (a) Liens permitted under Section 10.03 and (b) such other Liens as the Agent and Lenders may reasonably approve, it being understood that the granting of such additional security for the Obligations is a material inducement to the execution and delivery of this Agreement by each Lender and the Issuing Bank.

Future Liens on Real Property. Upon the request of the Agent or Requisite Lenders, the Borrowers Borrower and Parent shall, and shall cause the other Guarantors to, execute and deliver to the Agent, for the benefit of the Holders, immediately upon the acquisition or leasing by a the Borrower, Parent or any other Guarantor of any Real Property on which any Inventory of a the Borrower or any Guarantor is located, a mortgage, deed of trust, assignment or other appropriate instrument evidencing a Lien upon such Real Property, lease or interest, together with such title insurance policies (mortgagee's form), certified surveys, appraisals, and local counsel opinions with respect thereto and such other agreements, documents and instruments which the Agent deems reasonably necessary or desirable, the same to be in form and substance acceptable to the Agent and to be subject only to (a) Liens permitted under Section SECTION 10.03 and (b) such other Liens as the Agent and Lenders may reasonably approve, it being understood that the granting of such additional security for the Obligations is a material inducement to the execution and delivery of this Agreement by each Lender and the Issuing Bank.

Future Liens on Real Property. Upon the request of the Agent or Requisite Lenders, the Borrowers and Parent shall, and shall cause the other Guarantors to, execute and deliver to the Agent, for the benefit of the Holders, immediately upon the acquisition or leasing by a Borrower, Parent or any other Guarantor of any Real Property on which any Inventory of a Borrower or any Guarantor is located, a mortgage, deed of trust, assignment or other appropriate instrument evidencing a Lien upon such Real Property, lease or interest, together with such title insurance policies (mortgagee's form), certified surveys, appraisals, and local counsel opinions with respect thereto and such other agreements, documents and instruments which the Agent deems reasonably necessary or desirable, the same to be in form and substance acceptable to the Agent and to be subject only to (a) Liens permitted under Section SECTION 10.03 and (b) such other Liens as the Agent and Lenders may reasonably approve, it being understood that the granting of such additional security for the Obligations is a material inducement to the execution and delivery of this Agreement by each Lender and the Issuing Bank.