Guaranties and Security of Subsidiaries. The Obligations shall also be guaranteed pursuant to the terms of the Guaranty. The obligations of the Guarantors under the Guaranty shall be in turn secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in all of the assets of each such Guarantor, whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which such Guarantor is a party.
Guaranties and Security of Subsidiaries. The Obligations shall be guaranteed by TRC, PRI, PMC and each wholly-owned Subsidiary of the Borrower (now existing or hereafter formed or acquired) pursuant to the terms of the Guaranty, PROVIDED that the guaranties by TRC, PRI and PMC shall be limited in recourse to the pledge by such Guarantors of the Equity Interests in the Borrower or the Guarantors owned by such Guarantors. The obligations under the Guaranty shall be in turn secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in (a) with respect to TRC, PRI and PMC, the Equity Interests of the Borrower owned by each such Guarantor and (b) with respect to each other Guarantor, all of the assets of each such Person (including, without limitation, accounts and notes receivable, inventory, equipment, real property, stock of subsidiaries, intangible property, and intellectual property), whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which such Person is a party.
Guaranties and Security of Subsidiaries. The Obligations shall also be guaranteed pursuant to the terms of the Guaranty. The obligations of the Borrower's Subsidiaries (other than the Mexican Subsidiary) under the Guaranty shall be in turn secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in all of the assets of each such Subsidiary (including, without limitation, all shares of capital stock of each such Subsidiary's Subsidiaries, if any, owned by such Subsidiary), whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which such Subsidiary is a party.
Guaranties and Security of Subsidiaries. The Obligations shall also be guaranteed by the Subsidiary Guarantors pursuant to the terms of the Subsidiary Guaranty. The obligations of the Subsidiary Guarantors under the Subsidiary Guaranty shall be in turn secured by (a) a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in all of the assets of each such Subsidiary Guarantor, whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which such Subsidiary Guarantor is a party, and (b) a pledge by such Subsidiary Guarantor of all of the Capital Stock of each of its Subsidiaries owned by the Subsidiary Guarantor pursuant to the terms of its Stock Pledge Agreement.
Guaranties and Security of Subsidiaries. Certain of the Obligations shall be guaranteed by the Guarantors pursuant to the terms of the Guarantees. The obligations of the Guarantors shall be secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in substantially all of the assets of each such Guarantor, pursuant to the terms of the Security Documents to which such Guarantors are a party.
Guaranties and Security of Subsidiaries. The Obligations shall also be guaranteed pursuant to the terms of the Guaranty. The obligations of the Borrower's Subsidiaries, other than Excluded Subsidiaries, under the Guaranty shall be in turn secured by (a) a pledge of and perfected first-priority lien on all of the issued and outstanding shares of the capital stock of each indirect Subsidiary, other than Excluded Subsidiaries, of the Borrower, (b) a perfected first-priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in all of the assets and properties (both personal and real) of each such Subsidiary, whether now owned or hereafter acquired, and (c) an assignment of each such Subsidiary's rights and interests in, to and under each (A) Station lease and Station tower lease to which each such Subsidiary is a party and (B) contract and agreement entered into by each such Subsidiary in connection with the transactions contemplated by Section 10.5 hereof, pursuant to the terms of the Security Documents to which such Subsidiary is a party.
Guaranties and Security of Subsidiaries. The Obligations shall also be guaranteed pursuant to the terms of the Guaranty. The obligations of the Guarantors under the Guaranty shall be in turn secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in substantially all of the assets of each such Guarantor, whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which such Subsidiary is a party (other than any assets as to which the Agent, in its sole and absolute discretion, has determined that such security interests are not, in view of the value of such assets or the difficult or costs of obtaining such security interest, appropriate), including, without limitation, a pledge by such Guarantor of 100% of the Capital Stock of each Domestic Subsidiary of such Guarantor and 65% of the Capital Stock of each Foreign Subsidiary owned by the Borrower (other than a pledge of the Capital Stock of a Foreign Subsidiary of each Guarantor as to which the Agent, in its sole and absolute discretion, has determined that such pledge is not, in view of the value of such pledge or the difficulty or costs of obtaining such a pledge, appropriate).
Guaranties and Security of Subsidiaries. The Obligations shall also be guaranteed pursuant to the terms of the Guarantees. The obligations of the Guarantors under the Guarantees shall be in turn secured:
Guaranties and Security of Subsidiaries. The Obligations shall also be guaranteed pursuant to the terms of the Subsidiary Guaranties. The obligations of the Borrower's Subsidiaries under such Guaranties shall be in turn secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in all of the assets of each such Subsidiary, whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which such Subsidiary is a party.
Guaranties and Security of Subsidiaries. The Obligations shall also --------------------------------------- be guaranteed pursuant to the terms of the Guaranty. The obligations of the Borrower's Domestic Subsidiaries under the Guaranty shall be in turn secured by (a) a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in all of the assets of each such Domestic Subsidiary, whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which such Domestic Subsidiary is a party, and (b) a pledge by each such Domestic Subsidiary of (i) one hundred percent (100%) of the capital stock of each of its Domestic Subsidiaries owned by such Domestic Subsidiary, and (ii) all of the capital stock of each such Subsidiary's Foreign Subsidiaries owned by such Domestic Subsidiary up to a maximum sixty-six percent (66%) of each Foreign Subsidiary's capital stock, pursuant to the terms of the Stock Pledge Agreement.
