Common use of Perfection of Loan Security Clause in Contracts

Perfection of Loan Security. Before the making of any loans pursuant to this Agreement and upon your written request from time to time thereafter, the Company will make, execute, acknowledge and deliver, and file and record in the proper filing and recording places, all such instruments, including without limitation appropriate financing statements, and take all such action as you or your special counsel may reasonably deem necessary or advisable to carry out the intent and purposes of this Agreement or for assuring and confirming to you the Loan Security provided for hereunder and under the Loan Agreements. Without limiting the generality of the foregoing sentence: (i) the Company will, from time to time upon your request, cause its accounting books and records to be marked with such legends or segregated in such manner as you may specify, and take or cause to be taken such other action and adopt such procedures, including the appointment of trustees, the institution of depositary account, or collateral lock box collection or other revolving credit procedures as you may reasonably specify, to give notice of or to better assure the security interest in the Loan Security intended to be created hereby or by any other Loan Agreement; (ii) the Company will from time to time execute such mortgages, deeds of trust, security deeds or other security documents relating to the real property or interests therein constituting Loan Security as you may request; (iii) the Company will from time to time execute such other security documents relating to the motor vehicles constituting Loan Security as you may request and make notations concerning any Liens on certificates of title relating to such motor vehicles; (iv) the Company will use its best efforts to obtain any necessary consents of any Person to the creation of the security interests in the Loan Security listed in Section 6.1.3 hereof; and (v) the Company will use its efforts to exclude from any Franchises, contracts, licenses or agreements to which it hereafter becomes a party provisions which prevent a change in the control of the Franchisee or the creation of a security interest in the ownership of the franchisee or the rights under such Franchises, contracts, licenses or agreements or the property which was acquired under such Franchises, contracts, licenses or agreements.