Common use of Subsequently Acquired Property Clause in Contracts

Subsequently Acquired Property. As further security for the payment, performance and observance of the Liabilities, Borrower shall so long as any of the Liabilities shall remain outstanding or any Lender shall continue to have any Commitment: (a) acquire and maintain its property in a manner which will enable Borrower to allow such property to become subject to the Liens of the Collateral Documents; (b) obtain and maintain the consent or approval of any Person whose consent or approval is required to the granting of a Lien on any such property to or for the benefit of Agent; (c) execute and deliver from time to time within ten (10) days after its purchase or acquisition of any real property or leasehold interest in real property or of property subject to a titling statute or of any other personal property, asset or other right, amendments and supplements to the Collateral Documents in form and substance, and together with other documents, satisfactory to Agent, and in such number of counterparts as Agent may require, by which it shall (and only in the event that such action shall be required in order to) pledge, mortgage and grant a perfected Lien on such property, asset or right to Agent; (d) execute and deliver to Agent , in form and substance satisfactory to Agent and in such number of counterparts as Agent may require, (i) an assignment of Borrower's rights under any contract to construct any property with a fair market value in excess of $100,000 promptly upon entering into such contract, and (ii) such other agreements and instruments (including, without limitation, acknowledgments by other contract parties) as may be necessary to xxxxx x Xxxx on and security interest in Borrower's rights and interests under each such contract and each such property, whether under construction or otherwise, to Agent; and (e) execute and deliver to Agent, in form and substance satisfactory to Agent and in such number of counterparts as Agent may require, assignments of Borrower's rights under each lease to which Borrower is a party as landlord or sublandlord, promptly upon entering into such lease.

Subsequently Acquired Property. As further security for the payment, performance and observance of the Liabilities, Borrower shall so long as any of the Liabilities shall remain outstanding or any Lender shall continue to have any Commitment: (a) acquire and maintain its property in a manner which will enable Borrower to allow such property to become subject to the Liens of the Collateral Documents; (b) obtain and maintain the consent or approval of any Person whose consent or approval is required to the granting of a Lien on any such property to or for the benefit of Agent; (c) execute and deliver from time to time within ten (10) days after its purchase or acquisition of any real property or leasehold interest in real property or of property subject to a titling statute or of any other personal property, asset or other right, amendments and supplements to the Collateral Documents in form and substance, and together with other documents, satisfactory to Agent, and in such number of counterparts as Agent may require, by which it shall (and only in the event that such action shall be required in order to) pledge, mortgage and grant a perfected Lien on such property, asset or right to Agent; (d) execute and deliver to Agent Agent, in form and substance satisfactory to Agent and in such number of counterparts as Agent may require, (i) an assignment of Borrower's rights under any contract to construct any property with a fair market value in excess of $100,000 promptly upon entering into such contract, and (ii) such other agreements and instruments (including, without limitation, acknowledgments by other contract parties) as may be necessary to xxxxx x Xxxx on and security interest in Borrower's rights and interests under each such contract and each such property, whether under construction or otherwise, to Agent; and (e) execute and deliver to Agent, in form and substance satisfactory to Agent and in such number of counterparts as Agent may require, assignments of Borrower's rights under each lease to which Borrower is a party as landlord or sublandlord, promptly romptly upon entering into such lease.

Subsequently Acquired Property. As further security for the payment, performance and observance of the Liabilities, Borrower Borrowers shall so long as any of the Liabilities shall remain outstanding or any Lender shall continue to have any Commitment: (a) acquire and maintain its property their respective Property in a manner which will enable Borrower Borrowers to allow such property Property to become subject to the Liens of the Collateral Documents; (b) obtain and maintain the consent or approval of any Person whose consent or approval is required to the granting of a Lien on any such property Property to or for the benefit of AgentLender; (c) execute and deliver from time to time within ten (10) days after its purchase or acquisition of any real property or leasehold interest in real property or of property Property subject to a titling statute or of any other personal property, asset or other right, amendments and supplements to the Collateral Documents in form and substance, and together with other documents, satisfactory to AgentLender, and in such number of counterparts as Agent Lender may require, by which it shall (and only in the event that such action shall be required in order to) pledge, mortgage and grant a perfected Lien on such propertyProperty, asset or right to AgentLender; (d) execute and deliver to Agent Lender, in form and substance satisfactory to Agent Lender and in such number of counterparts as Agent Lender may require, (i) an assignment of Borrower's Borrowers' rights under any contract to construct any property Property with a fair market value in excess of $100,000 250,000 promptly upon entering into such contract, and (ii) such other agreements and instruments (including, without limitation, acknowledgments by other contract parties) as may be necessary to xxxxx x Xxxx on and security interest in Borrower's Borrowers' rights and interests under each such contract and each such propertyProperty, whether under construction or otherwise, to AgentLender; and (e) execute and deliver to AgentLender, in form and substance satisfactory to Agent Lender and in such number of counterparts as Agent Lender may require, assignments of Borrower's Borrowers' rights under each lease to which Borrower is Borrowers are a party as landlord or sublandlord, promptly upon entering into such lease, other than Capital Leases of equipment.

Subsequently Acquired Property. As further security for the payment, performance and observance of the Liabilities, Borrower shall Obligors shall, so long as any of the Liabilities shall remain outstanding or any Lender shall continue to have any Commitment: (a) acquire and maintain its their respective property in a manner which will enable Borrower Obligors to allow such property to become subject to the Liens of the Collateral Documents; (b) obtain and maintain the consent or approval of any Person whose consent or approval is required to the granting of a Lien on any such property to or for the benefit of AgentLender; (c) execute and deliver from time to time within ten (10) days after its purchase or acquisition of any real property or leasehold interest in real property or of property subject to a titling statute or of any other personal property, asset or other right, amendments and supplements to the Collateral Documents in form and substance, and together with other documents, satisfactory to AgentLender, and in such number of counterparts as Agent Lender may require, by which it shall (and only in the event that such action shall be required in order to) pledge, mortgage and grant a perfected Lien on such property, asset or right to AgentLender except for Property acquired and encumbered by Permitted Liens; (d) execute and deliver to Agent Lender, in form and substance satisfactory to Agent Lender and in such number of counterparts as Agent Lender may require, (i) an assignment of Borrowerany Obligor's rights under any contract to construct any property with a fair market value in excess of $100,000 promptly upon entering into such contract, and (ii) such other agreements and instruments (including, without limitation, acknowledgments by other contract parties) as may be necessary to xxxxx x Xxxx on and security interest in Borrowerany Obligor's rights and interests under each such contract and each such property, whether under construction or otherwise, to AgentLender; and (e) execute and deliver to AgentLender, in form and substance satisfactory to Agent Lender and in such number of counterparts as Agent Lender may require, assignments of Borrowerany Obligor's rights under each lease to which Borrower an Obligor is a party as landlord or sublandlord, promptly upon entering into such lease.