Post-Closing Collateral Actions Clause Samples
The Post-Closing Collateral Actions clause outlines the obligations and procedures that parties must follow regarding collateral after the closing of a transaction. Typically, this clause requires one or more parties to take specific steps, such as perfecting security interests, filing necessary documents, or delivering additional collateral, within a set timeframe after the deal is finalized. Its core function is to ensure that all collateral-related requirements are properly completed post-closing, thereby protecting the secured party’s interests and reducing the risk of unenforceable security interests.
Post-Closing Collateral Actions. The Lead Borrower agrees to deliver or cause to be delivered such documents and instruments, and take or cause to be taken such other actions as may be reasonably necessary to provide the perfected security interests and to satisfy such other conditions within the applicable time periods set forth on Schedule 6.20, as such time periods may be extended by the Administrative Agent, in its sole discretion.
Post-Closing Collateral Actions. (a) Within five (5) Business Days following the Effective Date (or such longer period as the Administrative Agent may agree in its sole discretion), the Parent and the Restricted Subsidiaries shall provide the Administrative Agent with counterparts of properly executed account control agreements in respect of all securities accounts listed in the Perfection Certificate required to be subject to security by the terms of the Security Agreement and the other Security Instruments.
(b) Within 60 (sixty) days following the Effective Date (or such longer period as the Administrative Agent may agree in its sole discretion), Atlas ▇▇▇▇▇▇▇▇▇ shall use commercially reasonable efforts to (i) pledge to the Administrative Agent all of its right, title and interest in and to all of the Equity Interests issued by ▇▇▇▇▇▇▇▇▇ Capital Partners, LP and ▇▇▇▇▇▇▇▇▇ Capital Partners GP LLC pursuant to the Security Agreement in manner satisfactory to the Administrative Agent and (ii) obtain all consents necessary for the Administrative Agent and any transferee or assignee thereof to become a partner, member or other holder of Equity Interests in such Persons pursuant to any foreclosure or exercise of remedies against the Loan Parties.
Post-Closing Collateral Actions. Within ninety (90) days following the Effective Date (or such longer period as the Administrative Agent may agree in its sole discretion) the Borrower and the Restricted Subsidiaries shall provide the Administrative Agent with (i) counterparts of properly executed and recorded Mortgages on at least the Required Mortgage Value of Oil and Gas Properties and (ii) counterparts of properly executed account control agreements in respect of certain deposit accounts and securities accounts held by the Borrower which are listed on Exhibit E hereto.
Post-Closing Collateral Actions. (a) Within ninety (90) days following the Effective Date (or such longer period as the Administrative Agent may agree in its sole discretion), the Parent and the Restricted Subsidiaries shall provide the Administrative Agent with (i) counterparts of properly executed and recorded Mortgages on the Properties constituting Proved Reserves directly owned (whether in fee or by leasehold) by the Loan Parties which are listed in Schedule 7 to the Perfection Certificate representing at least the Required Mortgage Value of Oil and Gas Properties (which Mortgages shall cover the Arkoma Assets transferred to the Parent and its Restricted Subsidiaries pursuant to the Separation Agreement constituting real property) and opinions in form and substance reasonably acceptable to the Administrative Agent of ▇▇▇▇ ▇▇▇▇▇▇▇▇ LLC and special counsel and local counsel in the jurisdictions in which the Mortgaged Properties are located and (ii) counterparts of properly executed account control agreements in respect of all deposit accounts held by the Borrower and the Parent listed in the Perfection Certificate required to be subject to security by the terms of the Security Agreement and the other Security Instruments.
(b) Within five (5) Business Days following the Effective Date (or such longer period as the Administrative Agent may agree in its sole discretion), the Parent and the Restricted Subsidiaries shall provide the Administrative Agent with counterparts of properly executed account control agreements in respect of all securities accounts listed in the Perfection Certificate required to be subject to security by the terms of the Security Agreement and the other Security Instruments.