Common use of New Affiliates Clause in Contracts

New Affiliates. Cause any Affiliate of the Borrower or any Guarantor which is (i) formed after the date of this Agreement and (ii) engaged or is to be engaged in the same, a similar or related line of business as the Borrower or any Guarantor, to (x) become a guarantor of all obligations of the Borrower under this Agreement and the other Loan Documents and (y) become a party to this Agreement.

New Affiliates. Cause any Affiliate of the Borrower or any Guarantor which is (i) formed after the date of this Agreement and (ii) engaged or is to be engaged in the same, a similar or related line of business as the Borrower or any Guarantor, to (x) become a guarantor Guarantor of all obligations of the Borrower to the Bank, whether incurred under this Agreement or otherwise and to secure its obligations as a Guarantor by granting to the other Loan Documents and (y) become Bank a party to this Agreementfirst priority security interest in all personal property of such Affiliate.

New Affiliates. Cause any Affiliate of the Borrower or any Guarantor which is (i) formed after the date of this Agreement and (ii) engaged or is to be engaged in the same, a similar or related line of business as the Borrower or any Guarantor, to (x) become a guarantor Guarantor of all obligations of the Borrower to the Bank, whether incurred under this Agreement and the other Loan Documents and (y) become a party to this Agreementor otherwise.

New Affiliates. Cause any Affiliate of the Borrower or any Guarantor which is (i) formed after the date of this Agreement and (ii) engaged or is to be engaged in the same, a similar or related line of business as the Borrower or any Guarantor, to (x) become a guarantor of all obligations of the Borrower and the Guarantors under this Agreement and the other Loan Documents and (y) become a party to this Agreement.