Common use of Maintenance of Lien; Recording; Opinions of Counsel Clause in Contracts

Maintenance of Lien; Recording; Opinions of Counsel. (a) The Borrower will, at its expense, take all necessary action to maintain and preserve the first and prior perfected lien of this Agreement (including, without limitation, the filing of all financing statements or similar notices thereof if and to the extent permitted or required by applicable law) so long as the Secured Creditors have any commitment to extend Secured Indebtedness to the Borrower and thereafter so long as any Secured Indebtedness remains outstanding. (b) The Borrower will, forthwith after the execution and delivery of this Agreement and thereafter from time to time, cause this Agreement (and all financing statements, continuation statements or similar notices thereof if and to the extent permitted or required by applicable law) to be filed, registered and recorded in such manner and in such places as may be required by law in order to publish notice of and fully to protect the first lien of the Collateral Agent in and to the Collateral; and from time to time will perform or cause to be performed any other act as provided by law and will execute or cause to be executed any and all further instruments that may be required for such publication and protection or requested by the Administrative Agent. With respect to any Investment Property held by a securities intermediary, commodity intermediary, or other financial intermediary of any kind, at the Collateral Agent’s request, acting at the direction of the Administrative Agent, the Borrower shall execute and deliver, and shall cause any such intermediary to execute and deliver, an agreement among the Borrower, the Collateral Agent and such intermediary in form and substance reasonably satisfactory to the Administrative Agent which provides, among other things, for the intermediary’s agreement that, upon notice by the Collateral Agent that an Event of Default has occurred and is continuing, it shall comply with entitlement orders, and apply any value distributed on account of any Investment Property maintained in an account with such intermediary, as directed by the Collateral Agent without further consent of the Borrower. (c) The Borrower agrees at its own expense to furnish to the Collateral Agent promptly after the execution and delivery of any supplement or amendment hereto or any continuation statement, an opinion of counsel satisfactory to the Collateral Agent (who may be independent counsel to the Borrower) stating that in the opinion of such counsel, such supplement or amendment to this Agreement (or a financing statement, continuation statement or similar notice thereof if and to the extent required by applicable law) or such continuation statement, as the case may be, has been properly recorded or filed for record in all public offices in which such recording or filing is necessary to perfect the Lien provided by this Agreement as a valid Lien and security interest in the Collateral.

Maintenance of Lien; Recording; Opinions of Counsel. (a) The Borrower Such Company will, at its expense, take all necessary action to maintain and preserve the first and prior perfected lien of this Agreement (including, without limitation, the filing of all financing statements or similar notices thereof if and to the extent permitted or required by applicable law) so long as the Secured Creditors have any commitment to extend Secured Indebtedness to the Borrower World and thereafter so long as any Secured Indebtedness remains outstandingoutstanding (provided, that the Companies shall be required to deliver to the Collateral Agent possession of promissory notes evidencing the Unsecured Receivables only upon the request of the Collateral Agent during the existence of a Default or Event of Default hereunder). (b) The Borrower Such Company will, forthwith after the execution and delivery of this Agreement and thereafter from time to time, cause this Agreement (and all financing statements, continuation statements or similar notices thereof if and to the extent permitted or required by applicable law) to be filed, registered and recorded in such manner and in such places as may be required by law in order to publish notice of and fully to protect the first lien of the Collateral Agent in and to the CollateralCollateral relating to such Company (provided, that the Companies shall be required to deliver to the Collateral Agent possession of promissory notes evidencing the Unsecured Receivables only upon the request of the Collateral Agent during the existence of a Default or Event of Default hereunder); and from time to time will perform or cause to be performed any other act acts as provided by law and will execute or cause to be executed any and all further instruments that may be required for such publication and protection or requested by the Administrative Agent. With respect to any Investment Property held by a securities intermediary, commodity intermediary, or other financial intermediary of any kind, at the Collateral Agent’s request, acting at the direction of the Administrative Agent, the Borrower such Company shall execute and deliver, and shall cause any such intermediary to execute and deliver, an agreement among the Borrowersuch Company, the Collateral Agent and such intermediary in form and substance reasonably satisfactory to the Administrative Agent which provides, among other things, for the intermediary’s agreement that, upon notice by the Collateral Agent that an Event of Default has occurred and is continuing, it shall comply with entitlement orders, and apply any value distributed on account of any Investment Property maintained in an account with such intermediary, as directed by the Collateral Agent without further consent of the Borrowersuch Company. (c) The Borrower Such Company agrees at its own expense to furnish to the Collateral Agent promptly after the execution and delivery of any supplement or amendment hereto or any continuation statement, an opinion of counsel satisfactory to the Collateral Agent (who may be independent counsel to the Borrowersuch Company) stating that in the opinion of such counsel, such supplement or amendment to this Agreement (or a financing statement, continuation statement or similar notice thereof if and to the extent required by applicable law) or such continuation statement, as the case may be, has been properly recorded or filed for record in all public offices in which such recording or filing is necessary to perfect the Lien provided by this Agreement as a valid Lien and security interest in the CollateralCollateral relating to such Company.

Maintenance of Lien; Recording; Opinions of Counsel. (a) The Borrower Such Company will, at its expense, take all necessary action to maintain and preserve the first and prior perfected lien of this Agreement (including, without limitation, the filing of all financing statements or similar notices thereof if and to the extent permitted or required by applicable law) so long as the Secured Creditors have any commitment Notes are outstanding (provided, that WFC-LP, World-MO or World-NM shall be required to extend Secured Indebtedness deliver to the Borrower and thereafter so long as any Secured Indebtedness remains outstandingSecurity Trustee possession of promissory notes evidencing the Unsecured Receivables only upon the request of the Security Trustee during the existence of a Default or Event of Default hereunder). (b) The Borrower Such Company will, forthwith after the execution and delivery of this Agreement and thereafter from time to time, cause this Agreement (and all financing statements, continuation statements or similar notices thereof if and to the extent permitted or required by applicable law) to be filed, registered and recorded in such manner and in such places as may be required by law in order to publish notice of and fully to protect the first lien of the Collateral Agent Security Trustee in and to the CollateralCollateral relating to such Company (provided, that WFC-LP, World-MO or World-NM shall be required to deliver to the Security Trustee possession of promissory notes evidencing the Unsecured Receivables only upon the request of the Security Trustee during the existence of a Default or Event of Default hereunder); and from time to time will perform or cause to be performed any other act acts as provided by law and will execute or cause to be executed any and all further instruments that may be required for such publication and protection or requested required by the Administrative Agentany Noteholder. With respect to any Investment Property held by a securities intermediary, commodity intermediary, or other financial intermediary of any kind, at the Collateral AgentSecurity Trustee’s request, acting at the direction of the Administrative Agentholders of the Notes, the Borrower such Company shall execute and deliver, and shall cause any such intermediary to execute and deliver, an agreement among the Borrowersuch Company, the Collateral Agent Security Trustee and such intermediary in form and substance reasonably satisfactory to the Administrative Agent Noteholders which provides, among other things, for the intermediary’s agreement that, upon notice by the Collateral Agent Security Trustee that an Event of Default has occurred and is continuing, it shall comply with entitlement orders, and apply any value distributed on account of any Investment Property maintained in an account with such intermediary, as directed by the Collateral Agent Security Trustee without further consent of the Borrowersuch Company. (c) The Borrower Such Company agrees at its own expense to furnish to the Collateral Agent Security Trustee promptly after the execution and delivery of any supplement or amendment hereto or any continuation statement, an opinion of counsel satisfactory to the Collateral Agent Security Trustee (who may be independent counsel to the Borrowersuch Company) stating that in the opinion of such counsel, such supplement or amendment to this Agreement (or a financing statement, continuation statement or similar notice thereof if and to the extent required by applicable law) or such continuation statement, as the case may be, has been properly recorded or filed for record in all public offices in which such recording or filing is necessary to perfect the Lien provided by this Agreement as a valid Lien and security interest in the CollateralCollateral relating to such Company; provided, such opinion shall be required with respect to any Unsecured Receivables of WFC-LP, World-MO and World-NM only after the occurrence and during the continuance of a Default or Event of Default hereunder.

Maintenance of Lien; Recording; Opinions of Counsel. (a) The Borrower Such Company will, on and after the Grant Date, at its expense, take all necessary action to maintain and preserve the first and prior perfected lien of this Agreement (including, without limitation, the filing of all financing statements or similar notices thereof if and to the extent permitted or required by applicable law) so long as the Secured Creditors have any commitment to extend Secured Indebtedness to the Borrower World and thereafter so long as any Secured Indebtedness remains outstandingoutstanding (provided, that the Companies shall be required to deliver to the Collateral Agent possession of promissory notes evidencing the Unsecured Receivables only upon the request of the Collateral Agent during the existence of a Default or Event of Default hereunder). (b) The Borrower Such Company will, forthwith after the execution and delivery of this Agreement and on and after the Grant Date, and thereafter from time to time, cause this Agreement (and all financing statements, continuation statements or similar notices thereof if and to the extent permitted or required by applicable law) to be filed, registered and recorded in such manner and in such places as may be required by law in order to publish notice of and fully to protect the first subordinated lien of the Collateral Agent in and to the CollateralCollateral relating to such Company (provided, that the Companies shall be required to deliver to the Collateral Agent possession of promissory notes evidencing the Unsecured Receivables only upon the request of the Collateral Agent during the existence of a Default or Event of Default hereunder); and from time to time will perform or cause to be performed any other act acts as provided by law and will execute or cause to be executed any and all further instruments that may be required for such publication and protection or requested by the Administrative Agent. With respect to any Investment Property held by a securities intermediary, commodity intermediary, or other financial intermediary of any kind, at the Collateral Agent’s request, on and after the Grant Date, acting at the direction of the Administrative Agent, the Borrower such Company shall execute and deliver, and shall cause any such intermediary to execute and deliver, an agreement among the Borrowersuch Company, the Collateral Agent and such intermediary in form and substance reasonably satisfactory to the Administrative Agent which provides, among other things, for the intermediary’s agreement that, upon notice by the Collateral Agent that an Event of Default has occurred and is continuing, it shall comply with entitlement orders, and apply any value distributed on account of any Investment Property maintained in an account with such intermediary, as directed by the Collateral Agent without further consent of the Borrowersuch Company. (c) The Borrower Such Company agrees at its own expense to to, on and after the Grant Date, furnish to the Collateral Agent promptly after the execution and delivery of any supplement or amendment hereto or any continuation statement, an opinion of counsel satisfactory to the Collateral Agent (who may be independent counsel to the Borrowersuch Company) stating that in the opinion of such counsel, such supplement or amendment to this Agreement (or a financing statement, continuation statement or similar notice thereof if and to the extent required by applicable law) or such continuation statement, as the case may be, has been properly recorded or filed for record in all public offices in which such recording or filing is necessary to perfect the Lien provided by this Agreement as a valid Lien and security interest in the CollateralCollateral relating to such Company.

Maintenance of Lien; Recording; Opinions of Counsel. (a) The Borrower Company will, at its expense, take all necessary action to maintain and preserve the first and prior perfected lien of this Agreement (including, without limitation, the filing of all financing statements or similar notices thereof if and to the extent permitted or required by applicable law) so long as the Secured Creditors have any commitment to extend Secured Indebtedness to the Borrower and thereafter so long as any Secured Indebtedness remains Notes are outstanding. (b) The Borrower Company will, forthwith after the execution and delivery of this Agreement and thereafter from time to time, cause this Agreement (and all financing statements, continuation statements or similar notices thereof if and to the extent permitted or required by applicable law) to be filed, registered and recorded in such manner and in such places as may be required by law in order to publish notice of and fully to protect the first lien of the Collateral Agent Security Trustee in and to the Collateral; and from time to time will perform or cause to be performed any other act as provided by law and will execute or cause to be executed any and all further instruments that may be required for such publication and protection or requested by the Administrative Agentany Noteholder. With respect to any Investment Property held by a securities intermediary, commodity intermediary, or other financial intermediary of any kind, at the Collateral AgentSecurity Trustee’s request, acting at the direction of the Administrative Agentholders of the Notes, the Borrower Company shall execute and deliver, and shall cause any such intermediary to execute and deliver, an agreement among the BorrowerCompany, the Collateral Agent Security Trustee and such intermediary in form and substance reasonably satisfactory to the Administrative Agent Noteholders which provides, among other things, for the intermediary’s agreement that, upon notice by the Collateral Agent Security Trustee that an Event of Default has occurred and is continuing, it shall comply with entitlement orders, and apply any value distributed on account of any Investment Property maintained in an account with such intermediary, as directed by the Collateral Agent Security Trustee without further consent of the Borrower.Company. World Acceptance Corporation Amended and Restated Security Agreement, (c) The Borrower Company agrees at its own expense to furnish to the Collateral Agent Security Trustee promptly after the execution and delivery of any supplement or amendment hereto or any continuation statement, an opinion of counsel satisfactory to the Collateral Agent Security Trustee (who may be independent counsel to the BorrowerCompany) stating that in the opinion of such counsel, such supplement or amendment to this Agreement (or a financing statement, continuation statement or similar notice thereof if and to the extent required by applicable law) or such continuation statement, as the case may be, has been properly recorded or filed for record in all public offices in which such recording or filing is necessary to perfect the Lien provided by this Agreement as a valid Lien and security interest in the Collateral.

Maintenance of Lien; Recording; Opinions of Counsel. (a) The Borrower Company will, at its expense, take all necessary action to maintain and preserve the first and prior perfected lien of this Agreement (including, without limitation, the filing of all financing statements or similar notices thereof if and to the extent permitted or required by applicable law) so long as the Secured Creditors have any commitment to extend Secured Indebtedness to the Borrower and thereafter so long as any Secured Indebtedness remains Notes are outstanding. (b) The Borrower Company will, forthwith after the execution and delivery of this Agreement and thereafter from time to time, cause this Agreement (and all financing statements, continuation statements or similar notices thereof if and to the extent permitted or required by applicable law) to be filed, registered and recorded in such manner and in such places as may be required by law in order to publish notice of and fully to protect the first lien of the Collateral Agent Security Trustee in and to the Collateral; and from time to time will perform or cause to be performed any other act as provided by law and will execute or cause to be executed any and all further instruments that may be required for such publication and protection or requested by the Administrative Agentany Noteholder. With respect to any Investment Property held by a securities intermediary, commodity intermediary, or other financial intermediary of any kind, at the Collateral Agent’s Security Trustee's request, acting at the direction of the Administrative Agentholders of the Notes, the Borrower Company shall execute and deliver, and shall cause any such intermediary to execute and deliver, an agreement among the BorrowerCompany, the Collateral Agent Security Trustee and such intermediary in form and substance reasonably satisfactory to the Administrative Agent Noteholders which provides, among other things, for the intermediary’s 's agreement that, upon notice by the Collateral Agent Security Trustee that an Event of Default has occurred and is continuing, it shall comply with entitlement orders, and apply any value distributed on account of any Investment Property maintained in an account with such intermediary, as directed by the Collateral Agent Security Trustee without further consent of the BorrowerCompany. (c) The Borrower Company agrees at its own expense to furnish to the Collateral Agent Security Trustee promptly after the execution and delivery of any supplement or amendment hereto or any continuation statement, an opinion of counsel satisfactory to the Collateral Agent Security Trustee (who may be independent counsel to the BorrowerCompany) stating that in the opinion of such counsel, such supplement or amendment to this Agreement (or a financing statement, continuation statement or similar notice thereof if and to the extent required by applicable law) or such continuation statement, as the case may be, has been properly recorded or filed for record in all public offices in which such recording or filing is necessary to perfect the Lien provided by this Agreement as a valid Lien and security interest in the Collateral. .

Maintenance of Lien; Recording; Opinions of Counsel. (a) The Borrower will, on and after the Grant Date, at its expense, take all necessary action to maintain and preserve the first and prior perfected lien of this Agreement (including, without limitation, the filing of all financing statements or similar notices thereof if and to the extent permitted or required by applicable law) so long as the Secured Creditors have any commitment to extend Secured Indebtedness to the Borrower and thereafter so long as any Secured Indebtedness remains outstanding. (b) The Borrower will, forthwith after the execution and delivery of this Agreement and on and after the Grant Date, and thereafter from time to time, cause this Agreement (and all financing statements, continuation statements or similar notices thereof if and to the extent permitted or required by applicable law) to be filed, registered and recorded in such manner and in such places as may be required by law in order to publish notice of and fully to protect the first lien subordinated of the Collateral Agent in and to the Collateral; and from time to time will perform or cause to be performed any other act as provided by law and will execute or cause to be executed any and all further instruments that may be required for such publication and protection or requested by the Administrative Agent. With respect to any Investment Property held by a securities intermediary, commodity intermediary, or other financial intermediary of any kind, at the Collateral Agent’s requestrequest on and after the Grant Date, acting at the direction of the Administrative Agent, the Borrower shall execute and deliver, and shall cause any such intermediary to execute and deliver, an agreement among the Borrower, the Collateral Agent and such intermediary in form and substance reasonably satisfactory to the Administrative Agent which provides, among other things, for the intermediary’s agreement that, upon notice by the Collateral Agent that an Event of Default has occurred and is continuing, it shall comply with entitlement orders, and apply any value distributed on account of any Investment Property maintained in an account with such intermediary, as directed by the Collateral Agent without further consent of the Borrower. (c) The Borrower agrees at its own expense to to, on and after the Grant Date, furnish to the Collateral Agent promptly after the execution and delivery of any supplement or amendment hereto or any continuation statement, an opinion of counsel satisfactory to the Collateral Agent (who may be independent counsel to the Borrower) stating that in the opinion of such counsel, such supplement or amendment to this Agreement (or a financing statement, continuation statement or similar notice thereof if and to the extent required by applicable law) or such continuation statement, as the case may be, has been properly recorded or filed for record in all public offices in which such recording or filing is necessary to perfect the Lien provided by this Agreement as a valid Lien and security interest in the Collateral.