Common use of Additional Collateral; Further Assurances Clause in Contracts

Additional Collateral; Further Assurances. (a) Subject to applicable Requirement of Law, each Loan Party will cause each of its Domestic Subsidiaries formed or acquired after the date of this Agreement to become a Loan Party by executing a Joinder Agreement. In connection therewith, the Administrative Agent shall have received all documentation and other information regarding such newly formed or acquired Subsidiaries as may be required to comply with the applicable “know your customer” rules and regulations, including the USA Patriot Act. Upon execution and delivery thereof, each such Person (i) shall automatically become a Loan Guarantor hereunder and thereupon shall have all of the rights, benefits, duties, and obligations in such capacity under the Loan Documents and (ii) will grant Liens to the Administrative Agent, for the benefit of the Administrative Agent and the other Secured Parties, in any property of such Loan Party which constitutes Collateral, including any parcel of real property located in the U.S. owned by any Loan Party.

Appears in 3 contracts

Samples: Credit Agreement (Globalscape Inc), Credit Agreement (Escalade Inc), Credit Agreement (Escalade Inc)

AutoNDA by SimpleDocs

Additional Collateral; Further Assurances. (a) Subject to applicable Requirement of Law, each Loan Party will cause each Subsidiary that is (i) formed, (ii) acquired or (iii) that qualifies independently as, or is designated by the Borrower or the Administrative Agent as a Material Domestic Subsidiary pursuant to the definition of its “Material Domestic Subsidiaries formed or acquired Subsidiary”, in each case after the date of this Agreement to become a Loan Party by executing a Joinder Agreement. In connection therewith, the Administrative Agent shall have received all documentation and other information regarding such newly formed or acquired Subsidiaries as may be required to comply with the applicable “know your customer” rules and regulations, including the USA Patriot Act. Upon execution and delivery thereof, each such Person (i) shall automatically become a Loan Guarantor hereunder and thereupon shall have all of the rights, benefits, duties, and obligations in such capacity under the Loan Documents and (ii) will grant Liens to the Administrative Agent, for the benefit of the Administrative Agent and the other Secured Parties, in any property of such Loan Party which constitutes Collateral, including any parcel of real property located in the U.S. owned by any Loan Party.

Appears in 3 contracts

Samples: Term Loan Credit Agreement (Global Brass & Copper Holdings, Inc.), Credit Agreement (Global Brass & Copper Holdings, Inc.), Term Loan Credit Agreement (Global Brass & Copper Holdings, Inc.)

Additional Collateral; Further Assurances. (a) Subject to applicable Requirement of Law, each Loan Party will cause each of its Domestic Subsidiaries Subsidiary formed or acquired after the date of this Agreement to become a Loan Party by executing a Joinder Agreement. In connection therewith; provided, the Administrative Agent however, that no Foreign Subsidiary (or any Subsidiary thereof) shall have received all documentation and other information regarding such newly formed or acquired Subsidiaries as may be required to comply with become a Loan Party hereunder to the applicable “know your customer” rules and regulations, including extent doing so could reasonably be expected to result in material adverse tax consequences to the USA Patriot ActLoan Parties. Upon execution and delivery thereof, each such Person (i) shall automatically become a Loan Guarantor hereunder and thereupon shall have all of the rights, benefits, duties, duties and obligations in such capacity under the Loan Documents and (ii) will grant Liens to the Administrative Agent, for the benefit of the Administrative Agent and the other Secured Parties, in any property of such Loan Party which constitutes Collateral, including any parcel of real property located in the U.S. owned by any Loan Party.

Appears in 2 contracts

Samples: Credit Agreement (Clarus Corp), Credit Agreement (Clarus Corp)

Additional Collateral; Further Assurances. (a) Subject to applicable Requirement of Lawlaw, SYXGIC and each other Loan Party will shall cause each of its Domestic Subsidiaries (if organized under the laws of any of the fifty States of the U.S.) formed or acquired after the date Third Restatement Date in accordance with the terms of this Agreement to become a Loan Party by executing a the Joinder Agreement set forth as Exhibit E hereto (the “Joinder Agreement. In connection therewith, the Administrative Agent shall have received all documentation and other information regarding such newly formed or acquired Subsidiaries as may be required to comply with the applicable “know your customer” rules and regulations, including the USA Patriot Act”). Upon execution and delivery thereof, each such Person (i) shall automatically become a Loan Guarantor hereunder and thereupon shall have all of the rights, benefits, duties, and obligations in such capacity under the Loan Documents and (ii) will grant Liens to the Administrative Agent, for the benefit of the Administrative Agent and the other Secured Parties, in any property of such Loan Party which constitutes Collateral, including any parcel of real Real Property or heritable property located in the U.S. owned by any Loan Party.

Appears in 1 contract

Samples: Credit Agreement (GLOBAL INDUSTRIAL Co)

Additional Collateral; Further Assurances. (a) Subject to applicable Requirement of Lawlaw, (y) each Loan Party will Borrower and each Subsidiary shall cause each of its Domestic Subsidiaries formed or acquired after the date of this Agreement in accordance with the terms of this Agreement, and (z) Holdings shall cause each of its Line of Business Subsidiaries formed or acquired or otherwise existing after the date of this Agreement, to become a Loan Party by executing a the Joinder Agreement set forth as Exhibit E hereto (the “Joinder Agreement. In connection therewith, the Administrative Agent shall have received all documentation and other information regarding such newly formed or acquired Subsidiaries as may be required to comply with the applicable “know your customer” rules and regulations, including the USA Patriot Act”). Upon execution and delivery thereof, each such Person (i) shall automatically become a Loan Guarantor hereunder and thereupon shall have all of the rights, benefits, duties, and obligations in such capacity under the Loan Documents and (ii) will grant Liens to the Administrative Agent, for the benefit of the Administrative Agent and the other Secured PartiesLenders, in any property of such Loan Party which constitutes Collateral, including any parcel of real property located in the U.S. owned by any Loan Party.

Appears in 1 contract

Samples: Credit Agreement (Energy Conversion Devices Inc)

Additional Collateral; Further Assurances. (a) Subject to applicable Requirement of Lawlaw, the Borrower and each Subsidiary that is a Loan Party will shall cause each of its Domestic domestic Subsidiaries formed or acquired after the date of this Agreement in accordance with the terms of this Agreement to become a Loan Party Party, excluding Bluestem SPV and Bluestem Fulfillment, Inc., by executing a the Joinder Agreement set forth as Exhibit E hereto (the “Joinder Agreement. In connection therewith, the Administrative Agent shall have received all documentation and other information regarding such newly formed or acquired Subsidiaries as may be required to comply with the applicable “know your customer” rules and regulations, including the USA Patriot Act”). Upon execution and delivery thereof, each such Person (i) shall automatically become a Loan Guarantor hereunder and thereupon shall have all of the rights, benefits, duties, and obligations in such capacity under the Loan Documents and (ii) will grant Liens to the Administrative Agent, for the benefit of the Administrative Agent and the other Secured PartiesLenders, in any property of such Loan Party which constitutes Collateral, including any parcel of real property located in the U.S. owned by any Loan Party.

Appears in 1 contract

Samples: Credit Agreement (Bluestem Brands, Inc.)

AutoNDA by SimpleDocs

Additional Collateral; Further Assurances. (a) Subject to applicable Requirement of Law, each Loan Party will cause each Subsidiary that is (i) formed, (ii) acquired or (iii) that qualifies independently as, or is designated by the Borrower or the Administrative Agent as a Material Domestic Subsidiary pursuant to the definition of its “Material Domestic Subsidiaries formed or acquired Subsidiary”, in each case after the date of this Agreement to become a Loan Party by executing a Joinder Agreement. In connection therewith, the Administrative Agent shall have received all documentation and other information regarding such newly formed or acquired Subsidiaries as may be required to comply with the applicable “know your customer” rules and regulations, including the USA Patriot Act. Upon execution and delivery thereof, each such Person (i) shall automatically become a Loan Guarantor hereunder and thereupon shall have all of the rights, benefits, duties, and obligations in such capacity under the Loan Documents and (ii) will grant Liens to the Administrative Agent, for the benefit of the Administrative Agent and the other Secured Parties, in any property of such Loan Party which constitutes Collateral, including any parcel of real property located in the U.S. owned by any Loan Party.. 77

Appears in 1 contract

Samples: Term Loan Credit Agreement (Global Brass & Copper Holdings, Inc.)

Additional Collateral; Further Assurances. (a) Subject to applicable Requirement of Lawlaw, each Borrower and each Subsidiary that is a Loan Party will shall cause each of its Domestic domestic Subsidiaries formed or acquired after the date of this Agreement in accordance with the terms of this Agreement other than an Inactive Subsidiary to become a Loan Party by executing a the Joinder Agreement set forth as Exhibit D hereto (the “Joinder Agreement. In connection therewith, the Administrative Agent shall have received all documentation and other information regarding such newly formed or acquired Subsidiaries as may be required to comply with the applicable “know your customer” rules and regulations, including the USA Patriot Act”). Upon execution and delivery thereof, each such Person (i) shall automatically become a Loan Guarantor hereunder or a Borrower hereunder, as specified by the Borrower Representative, and thereupon shall have all of the rights, benefits, duties, and obligations in such capacity under the Loan Documents and (ii) will grant Liens to the Administrative Agent, for the benefit of the Administrative Agent and the other Secured PartiesLenders, in any property of such Loan Party which constitutes Collateral, including any parcel of real property located in the U.S. owned by any Loan Party.

Appears in 1 contract

Samples: Credit Agreement (Mgi Pharma Inc)

Additional Collateral; Further Assurances. (a) Subject to applicable Requirement of Lawlaw, the Borrower and each Subsidiary that is a Loan Party will shall cause each of its Domestic domestic Subsidiaries formed or acquired after the date of this Agreement in accordance with the terms of this Agreement to become a Loan Party by executing a the Joinder Agreement set forth as Exhibit E hereto (the “Joinder Agreement. In connection therewith, ”) as soon as reasonably practicable and in any event not later than thirty days after the Administrative Agent shall have received all documentation and other information regarding such newly formed date of formation or acquired Subsidiaries as may be required to comply with the applicable “know your customer” rules and regulations, including the USA Patriot Actacquisition. Upon execution and delivery thereof, each such Person (i) shall automatically become a Loan Guarantor hereunder and thereupon shall have all of the rights, benefits, duties, and obligations in such capacity under the Loan Documents and (ii) will grant Liens to the Administrative Agent, for the benefit of the Administrative Agent and the other Secured Parties, in any property of such Loan Party which constitutes Collateral, including any parcel of real property located in the U.S. owned by any Loan Party.

Appears in 1 contract

Samples: Credit Agreement (Audiovox Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.