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 Collateral Agent for the benefit of the Secured Parties pursuant to the Credit Agreement, to execute and deliver to the Collateral Agent (i) a Joinder Agreement substantially in the form of Exhibit 2 hereto and (ii) a Perfection Certificate, in each case, within thirty (30) days (as such period may be extended in the sole discretion of the Administrative Agent) of the date on which it was acquired or created, as applicable, and 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 or any other Loan Document.

Appears in 2 contracts

Samples: Pledge and Security Agreement (HC2 Holdings, Inc.), Pledge and Security Agreement (HC2 Holdings, Inc.)

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Joinder of Additional Subsidiary Guarantors. The Pledgors shall cause each Subsidiary Guarantor of the Borrower which, from time to time, after the date hereof shall be required to pledge any assets to the Collateral Agent for the benefit of the Secured Parties pursuant to the Credit Agreement, to execute and deliver to the Collateral Agent (i) a Joinder Agreement substantially in the form of Exhibit 2 hereto and Exxxxxx 0 xxxxxx, (iixx) a x Perfection Certificate, in each case, within thirty (30) 30 days (as such period may be extended in the sole discretion of the Administrative Agent) of after the date on which it was acquired acquired, created or createddesignated as such (or such later date as may be agreed by the Collateral Agent in its sole discretion) and (iii), such other documentation as applicablethe Collateral Agent shall reasonably request and, and upon such execution and delivery, such Subsidiary Guarantor 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 of, or failure to add, any new Subsidiary Guarantor and Pledgor as a party to this Agreement or any other Loan Document.

Appears in 1 contract

Samples: Security Agreement (Biglari Holdings Inc.)

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Joinder of Additional Subsidiary Guarantors. The Pledgors shall cause each wholly-owned Domestic Subsidiary of the Borrower constituting a Material Subsidiary which, from time to time, after the date hereof shall be required to pledge any assets to the Collateral Agent for the benefit of the Secured Parties pursuant to the provisions of the Credit Agreement, (a) to execute and deliver to the Collateral Agent (i) a Joinder Agreement substantially in the form of Exhibit 2 1 hereto and (ii) a Perfection Certificate, in each case, within thirty twenty-five (3025) days (as such period may be extended in the sole discretion of the Administrative Agent) of the date on which it was acquired or createdcreated and, as applicable, and 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 or any other Loan DocumentAgreement.

Appears in 1 contract

Samples: Security Agreement (AOL Inc.)

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