Common use of Joinder of Additional Subsidiary Guarantors Clause in Contracts

Joinder of Additional Subsidiary Guarantors. The Pledgors shall cause each Subsidiary of the Borrower which, from time to time, after the date hereof shall be required to pledge any assets to the Administrative Agent for the benefit of the Secured Parties pursuant to the Credit Agreement, (a) to execute and deliver to the Administrative Agent (i) a Joinder Agreement substantially in the form of Exhibit 3 annexed hereto within thirty (30) Business Days after the date on which it was acquired or created and (ii) a Perfection Certificate, in each case, within thirty (30) Business Days after the date on which it was acquired or created or (b) in the case of a Subsidiary organized outside of the United States required to pledge any assets to the Administrative Agent, execute and deliver such documentation as the Administrative Agent shall reasonably request and, in each case, upon such execution and delivery, such Subsidiary shall constitute a “Guarantor” and a “Pledgor” for all purposes hereunder with the same force and effect as if originally named as a Guarantor and Pledgor herein. The execution and delivery of such Joinder Agreement shall not require the consent of any Pledgor hereunder. The rights and obligations of each Pledgor hereunder shall remain in full force and effect notwithstanding the addition of any new Guarantor and Pledgor as a party to this Agreement.

Appears in 3 contracts

Samples: Security Agreement (Language Line Holdings, Inc.), Security Agreement (Language Line Costa Rica, LLC), Security Agreement (Atlantic Broadband Management, LLC)

AutoNDA by SimpleDocs

Joinder of Additional Subsidiary Guarantors. The Pledgors shall cause each Subsidiary of the Borrower Borrowers which, from time to time, after the date hereof shall be required to pledge any assets to the Administrative Agent for the benefit of the Secured Parties pursuant to the Credit Agreement, (a) to execute and deliver to the Administrative Agent (i) a Joinder Agreement substantially in the form of Exhibit 3 annexed hereto within thirty (30) Business Days after the date on which it was acquired or created and (ii) a Perfection Certificate, in each case, within thirty (30) Business Days after the date on which it was acquired or created or (b) in the case of a Subsidiary organized outside of the United States required to pledge any assets to the Administrative Agent, execute and deliver such documentation as the Administrative Agent shall reasonably request and, in each case, upon such execution and delivery, such Subsidiary shall constitute a “Guarantor” and a “Pledgor” for all purposes hereunder with the same force and effect as if originally named as a Guarantor and Pledgor herein. The execution and delivery of such Joinder Agreement shall not require the consent of any Pledgor hereunder. The rights and obligations of each Pledgor hereunder shall remain in full force and effect notwithstanding the addition of any new Guarantor and Pledgor as a party to this Agreement.

Appears in 1 contract

Samples: Security Agreement (LL Services Inc.)

Joinder of Additional Subsidiary Guarantors. The Pledgors shall cause each Domestic Subsidiary of the Borrower Company which, from time to time, after the date hereof shall be required to pledge any assets to the Administrative Collateral Agent for the benefit of the Secured Parties pursuant to the provisions of the Credit Agreement, (a) to execute and deliver to the Administrative Collateral Agent (i) a Joinder Agreement substantially in the form of Exhibit 3 annexed hereto within thirty (30) Business Days after the date on which it was acquired or created and (ii) a Perfection Certificate, in each case, within thirty ten (3010) Business Days after the date on which it was acquired or created Company’s delivery, pursuant to Section 5.01(a) or (b) in the case of a Subsidiary organized outside of the United States required Credit Agreement, as applicable, of the financial statements for the fiscal period at the end of which such Person first becomes a Domestic Subsidiary (or such later date as may be agreed to pledge any assets to the Administrative Agent, execute and deliver such documentation as by the Administrative Agent shall reasonably request in its sole discretion) and, in each case, upon such execution and delivery, such Subsidiary shall constitute a “Subsidiary Guarantor” and a “Pledgor” for all purposes hereunder with the same force and effect as if originally named as a Subsidiary Guarantor and Pledgor herein. The execution and delivery of such Joinder Agreement shall not require the consent of any Pledgor hereunder. The rights and obligations of each Pledgor hereunder shall remain in full force and effect notwithstanding the addition of any new Subsidiary Guarantor and Pledgor as a party to this Agreement.

Appears in 1 contract

Samples: Security Agreement (Schulman a Inc)

AutoNDA by SimpleDocs

Joinder of Additional Subsidiary Guarantors. The Pledgors shall cause each Subsidiary of the Borrower Company which, from time to time, after the date hereof shall be required to pledge any assets to the Administrative Collateral Agent for the benefit of the Secured Parties Holders pursuant to the Credit Agreementprovisions of the Indenture, (a) to execute and deliver to the Administrative Collateral Agent (ia) a Joinder Agreement substantially in the form of Exhibit 3 annexed 2 hereto within thirty (30) Business Days after days of the date on which it was acquired or created and (iib) a Perfection CertificateQuestionnaire, in each case, within thirty (30) Business Days after days of the date on which it was acquired or created or (b) in the case of a Subsidiary organized outside of the United States required to pledge any assets to the Administrative Agent, execute and deliver such documentation as the Administrative Agent shall reasonably request and, in each case, upon such execution and delivery, such Subsidiary shall constitute a “Subsidiary Guarantor” and a “Pledgor” for all purposes hereunder with the same force and effect as if originally named as a Subsidiary Guarantor and Pledgor herein. The execution and delivery of such Joinder Agreement shall not require the consent of any Pledgor hereunder. The rights and obligations of each Pledgor hereunder shall remain in full force and effect notwithstanding the addition of any new Subsidiary Guarantor and Pledgor as a party to this Agreement.

Appears in 1 contract

Samples: Pledge and Security Agreement (Ambassadors International Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!