Common use of Other Perfection, etc Clause in Contracts

Other Perfection, etc. Each Borrower shall, at any time and from time to time, whether or not Revised Article 9 is in effect in any particular jurisdiction, take such steps as the Agent may reasonably request for the Agent (i) to obtain an acknowledgment, in form and substance reasonably satisfactory to the Agent, of any bailee having possession of any of the Collateral, stating that the bailee holds such Collateral for the Agent, (ii) to obtain "control" of any investment property, deposit accounts, letter-of-credit rights, or electronic chattel paper (as such terms are defined by Revised Article 9 with corresponding provisions thereof defining what constitutes "control" for such items of Collateral), with any agreements establishing control to be in form and substance reasonably satisfactory to the Agent, and (iii) otherwise to insure the continued perfection and priority of the Agent's security interest in any of the Collateral and of the preservation of its rights therein, whether in anticipation of or following the effectiveness of Revised Article 9 in any jurisdiction. If any Borrower shall at any time, whether or not Revised Article 9 is in effect in any particular jurisdiction, acquire a "commercial tort claim" (as such term is defined in Revised Article 9) in excess of $1,000,000, such Borrower shall promptly notify the Agent thereof in a writing, therein providing a reasonable description and summary thereof, and upon delivery thereof to the Agent, such Borrower shall be deemed to thereby grant to the Agent (and such Borrower hereby grants to the Agent) a security interest and lien in and to such commercial tort claim and all proceeds thereof, all upon the terms of and governed by this Agreement.

Other Perfection, etc. Each Borrower shall, at any time and from time to time, whether or not Revised Article 9 is in effect in any particular jurisdiction, take such steps as the Agent may reasonably request for the Agent (i) to obtain an acknowledgment, in form and substance reasonably satisfactory to the Agent, of any bailee having possession of any of the Collateral, stating that the bailee holds such Collateral for the Agent, (ii) to obtain "control" of any investment propertyInvestment Property, deposit accounts, letter-of-credit rights, or electronic chattel paper Electronic Chattel Paper constituting Collateral (as such terms are defined by Revised Article 9 of the UCC with corresponding provisions thereof defining what constitutes "control" for such items of Collateral), with any agreements establishing control to be in form and substance reasonably satisfactory to the Agent, and (iii) otherwise to insure the continued perfection and priority of the Agent's security interest in any of the Collateral and of the preservation of its rights therein, whether in anticipation of or following the effectiveness of Revised Article 9 in any jurisdiction. If any Borrower shall at any time, whether or not Revised Article 9 is in effect in any particular jurisdiction, acquire a "commercial tort claim" (as such term is defined in Revised Article 9) Commercial Tort Claim in excess of $1,000,000, such Borrower shall promptly notify the Agent thereof in a writing, therein providing a reasonable description and summary thereof, and upon delivery thereof to the Agent, such Borrower shall be deemed to thereby grant to the Agent (and such Borrower hereby grants to the Agent) a security interest and lien Lien in and to such commercial tort claim Commercial Tort Claim and all proceeds thereof, all upon the terms of and governed by this Agreement.

Other Perfection, etc. Each Borrower shallSubject to the Intercreditor Agreement and Sections 6.1(a) and (c) herein, at any time and from time to time, whether or not Revised Article 9 is in effect in any particular jurisdiction, each Loan Party shall take all such steps as the Agent may reasonably request for the Collateral Agent (i) to obtain an acknowledgment, in form and substance reasonably satisfactory to the Collateral Agent, of any bailee having possession of any of the Collateral, stating that the bailee holds such Collateral for the Collateral Agent, (ii) to obtain "“control" ” of any investment propertyInvestment Property, deposit accounts, letter-of-credit rights, or electronic chattel paper Electronic Chattel Paper constituting Collateral (as such terms are defined by Revised Article 9 of the UCC with corresponding provisions thereof defining what constitutes "“control" ” for such items of Collateral), if the aggregate face value of all such items shall not at any time exceed $1,000,000, with any agreements establishing control to be in form and substance reasonably satisfactory to the Collateral Agent, and (iii) otherwise to insure the continued perfection and priority of the Collateral Agent's ’s security interest in any of the Collateral and of the preservation of its rights therein, whether in anticipation of or following the effectiveness of Revised Article 9 in any jurisdiction. If any Borrower Loan Party shall at any time, whether or not Revised Article 9 is in effect in any particular jurisdiction, acquire a "commercial tort claim" (as such term is defined in Revised Article 9) Commercial Tort Claim in excess of $1,000,0005,000,000, such Borrower Loan Party shall promptly notify the Collateral Agent thereof in a writing, therein providing a reasonable description and summary thereof, and upon delivery thereof to the Collateral Agent, such Borrower Loan Party shall be deemed to thereby grant to the Collateral Agent (and such Borrower Loan Party hereby grants to the Collateral Agent) a security interest and lien Lien in and to such commercial tort claim Commercial Tort Claim and all proceeds thereof, all upon the terms of and governed by this Agreement.

Other Perfection, etc. Each The Borrower shall, at any time and from time to time, whether or not Revised Article 9 is in effect in any particular jurisdiction, take such steps as the Agent may reasonably request for the Agent (i) to obtain an acknowledgment, in form and substance reasonably satisfactory to the Agent, of any bailee having possession of any of the Collateral, stating that the bailee holds such Collateral for the Agent, (ii) to obtain "control" of any investment property, deposit accounts, letter-of-credit rights, or electronic chattel paper (as such terms are defined by Revised Article 9 with corresponding provisions thereof defining what constitutes "control" for such items of Collateral), with any agreements establishing control to be in form and substance reasonably satisfactory to the Agent, and (iii) otherwise to insure the continued perfection and priority of the Agent's security interest in any of the Collateral and of the preservation of its rights therein, whether in anticipation of or following the effectiveness of Revised Article 9 in any jurisdiction. If any the Borrower shall at any time, whether or not Revised Article 9 is in effect in any particular jurisdiction, acquire a "commercial tort claim" (as such term is defined in Revised Article 9) in excess of $1,000,000, such the Borrower shall promptly notify the Agent thereof in a writing, therein providing a reasonable description and summary thereof, and upon delivery thereof to the Agent, such the Borrower shall be deemed to thereby grant to the Agent (and such the Borrower hereby grants to the Agent) a security interest and lien in and to such commercial tort claim and all proceeds thereof, all upon the terms of and governed by this Agreement.