Other Perfection Sample Clauses
The "Other Perfection" clause is designed to ensure that a party takes all necessary steps to perfect and maintain the enforceability of a security interest or similar legal right. In practice, this may require the party to file additional documents, provide information, or take actions beyond those specifically listed elsewhere in the agreement, such as registering interests with government authorities or obtaining third-party consents. The core function of this clause is to address any gaps in the perfection process, thereby protecting the secured party’s rights and minimizing the risk of unenforceability due to technical oversights.
Other Perfection. Each Loan Party will execute and deliver to the Collateral Agent such security agreements, assignments and other papers as the Collateral Agent may at any time or from time to time reasonably request that are required to perfect or protect the security interest granted hereby. Each Loan Party shall also cooperate with the Lenders, if requested by the Lenders, in obtaining appropriate waivers or subordinations of interests from such third parties in any Collateral and in obtaining control of Collateral consisting of deposit accounts, investment property, letter-of-credit rights or electronic chattel paper. Each Loan Party shall promptly, and in any event within five (5) Business Days after the same is acquired by it, notify the Lenders of any commercial tort claim acquired by it and shall enter into a supplement to this Agreement granting to the Collateral Agent a security interest in such commercial tort claim.
Other Perfection. Borrower shall at all times, and from time to time, whether or not Revised Article 9 is in effect in any particular jurisdiction, take such steps as Agent may reasonably request for Agent (a) to obtain an acknowledgment, in form and substance satisfactory to Agent, of any bailee having possession of any of the Collateral that the bailee holds such Collateral for Agent, (b) to obtain "control" of any investment property, deposit accounts, letter-of-credit rights or electronic chattel paper (as such terms are defined in Revised Article 9 with corresponding provisions in Rev. (S)(S) 9-104, 9-105, 9-106 and 9-107 relating to what constitutes "control" for such items of Collateral), with any agreements establishing control, to be in form and substance satisfactory to Agent, and (c) otherwise to insure the continued perfection and priority of Agent's security interest in any of the Collateral and of the preservation of its rights therein, whether in anticipation and following the effectiveness or Revised Article 9 in any jurisdiction.
Other Perfection. Borrower will execute and deliver to Lender such security agreements, assignments and other papers as L▇▇▇▇▇ may at any time or from time to time reasonably request that are required to perfect or protect the security interest granted hereby. Borrower shall also cooperate with Lender, if requested by L▇▇▇▇▇, in obtaining appropriate waivers or subordinations of interests from such third parties in any Collateral and in obtaining control of Collateral consisting of deposit accounts, investment property, letter-of-credit rights or electronic chattel paper.