Common use of Perfection of Lender’s Security Interest; Duty of Care Clause in Contracts

Perfection of Lender’s Security Interest; Duty of Care. 4.2.1 Until the termination of this Agreement, each Loan Party shall perform any and all steps and take all actions requested by Lender from time to time to perfect, maintain, protect, and enforce Lender’s security interest in, and Lien on, the Collateral, including (a) executing and delivering all appropriate documents and instruments as Lender may determine are necessary or desirable to perfect, preserve, or enforce Lender’s interest in the Collateral, including financing statements, all in form and substance satisfactory to Lender, (b) delivering and endorsing to Lender any warehouse receipts or other Documents covering that portion of the Collateral which, with Lender’s consent, may be located in warehouses and in respect of which warehouse receipts are issued, (c) upon the occurrence and the continuance of any Event of Default, transferring Inventory to warehouses approved by Lender, (d) placing notations on such Loan Party’s books of account to disclose Lender’s security interest and Lien therein, and (e) taking such other steps and actions as deemed necessary or desirable by Lender to perfect and enforce Lender’s security interest in, and Lien on, and other rights and interests in, the Collateral. Without limiting the foregoing, the Loan Parties shall promptly provide the Lender with written notice of all applications, if any, for new Copyrights, Patents or Trademarks (together with a listing of the issuance of registrations or letters on present applications), which new applications and issued registrations or letters shall be subject to the Lender's Lien as provided hereunder, together with, if requested by Lender, (a) a duly executed Notice of Security Interest in such new Copyrights, Patents or Trademarks in form and substance reasonably acceptable to the Lender, and (b) such other duly executed documents as the Lender may reasonably request in order to evidence the Lender's Lien in the Copyright, Patent or Trademark which is the subject of such new application; in each case other than actions which the Lender and such Loan Party reasonably agree that the cost of obtaining such a security interest or perfection in such Liens are excessive in relation to the benefit of the Lender of the security to be afforded thereby.

Perfection of Lender’s Security Interest; Duty of Care. 4.2.1 Until the termination of this Agreement, each Loan Party shall perform any and all steps and take all actions requested by Lender from time to time to perfect, maintain, protect, and enforce Lender’s security interest in, and Lien on, the Collateral, including (a) executing and delivering all appropriate documents and instruments as Lender may determine are necessary or desirable to perfect, preserve, or enforce Lender’s interest in the Collateral, including financing statements, all in form and substance satisfactory to Lender, (b) delivering and endorsing to Lender any warehouse receipts or other Documents covering that portion of the Collateral which, with Lender’s consent, may be located in warehouses and in respect of which warehouse receipts are issued, (c) upon the occurrence and the continuance of any Event of Default, transferring Inventory to warehouses approved by Lender, (d) placing notations on such Loan Party’s books of account to disclose Lender’s security interest and Lien therein, and (e) taking such other steps and actions as deemed necessary or desirable by Lender to perfect and enforce Lender’s security interest in, and Lien on, and other rights and interests in, the Collateral. Without limiting the foregoing, the Loan Parties shall promptly provide the Lender with written notice of all applications, if any, for new Copyrights, Patents or Trademarks (together with a listing of the issuance of registrations or letters on present applications), which new applications and issued registrations or letters shall be subject to the Lender's ’s Lien as provided hereunder, together with, if requested by Lender, (a) a duly executed Notice of Security Interest in such new Copyrights, Patents or Trademarks in form and substance reasonably acceptable to the Lender, and (b) such other duly executed documents as the Lender may reasonably request in order to evidence the Lender's ’s Lien in the Copyright, Patent or Trademark which is the subject of such new application; in each case other than actions which the Lender and such Loan Party reasonably agree that the cost of obtaining such a security interest or perfection in such Liens are excessive in relation to the benefit of the Lender of the security to be afforded thereby.