PPSA Undertaking. If the Loan Party holds any security interests for the purposes of the PPSA and if a failure by the Loan Party to perfect some or all of those security interests would materially adversely affect the business, operation, property, condition (financial or otherwise), or prospects of the Loan Parties (taken as a whole), the Loan Party agrees to implement, maintain and comply in all material respects with, procedures for the perfection of those security interests. These procedures must include procedures designed to ensure that the Loan Party takes all reasonable steps under the PPSA to perfect any such security interest with the highest ranking priority reasonably possible (such as perfecting a purchase money security interest, perfecting a security interest by control or including the serial number in a financing statement for personal property that may or must be described by a serial number). If the Administrative Agent asks, the Loan Party agrees to arrange at its expense an audit of the PPSA procedures. The Administrative Agent may only ask the Loan Party to do this if it reasonably suspects that a Loan Party is not complying with this clause.
PPSA Undertaking. If the Borrower holds any security interests for the purposes of the PPSA and if failure by the Borrower to perfect such security interests would materially adversely affect its business, the Borrower agrees to implement, maintain and comply in all material respects with procedures for the perfection of those security interests. These procedures must include procedures designed to ensure that the Borrower takes all reasonable steps under the PPSA to continuously perfect any such security interest including all steps reasonably necessary:
PPSA Undertaking. If an Obligor holds any security interests and if a failure by the Obligor to perfect some or all of those security interests would materially adversely affect the business, operation, property, condition (financial or otherwise), or prospects of that Obligor or the Obligors (taken as a whole), the Obligor agrees to implement, maintain and comply in all material respects with, procedures for the perfection of those security interests. These procedures must include procedures designed to ensure that the Obligor takes all reasonable steps under the PPSA to perfect any such security interest with the highest ranking priority reasonably possible (such as perfecting a purchase money security interest, perfecting a security interest by control or including the serial number in a financing statement for personal property that may or must be described by a serial number). If the Lender asks, each Obligor agrees to arrange at its expense an audit of the PPSA procedures. A Lender may only ask the Obligor to do this if it reasonably suspects that an Obligor is not complying with this clause.
PPSA Undertaking. Each Borrower will promptly take (and procure that each Subsidiary will take) all reasonable steps which are prudent for its business under or in relation to PPS Law including doing anything reasonably requested by an Agent for that purpose. For example, it will:
PPSA Undertaking. Each of the Parent and the Borrower will promptly take all reasonable steps which are prudent for its business under or in relation to the PPSA including doing anything reasonably requested by the Administrative Agent for that purpose. For example, it will (a) create and implement appropriate policies and systems; and (b) where appropriate, take reasonable steps to identify Liens in its favor and to perfect and protect them, with the highest priority reasonably available.
PPSA Undertaking. If a Transaction Party holds any security interests for the purposes of the PPSA and if failure by the Transaction Party to perfect such security interests would:
