Additional Sellers. Subject to the terms and conditions of this Agreement and the other Repurchase Documents, including the separateness provisions set forth in Article 9, Pledgor may from time to time form additional Subsidiaries in order to become additional Sellers hereunder and, in each case, the initial Seller hereunder shall, within ten (10) days after such formation, (a) notify Buyer of such formation, (b) cause Pledgor to pledge in favor of Buyer all of the Equity Interests held by Pledgor in each such Subsidiary and take all such further action as Buyer shall deem reasonably necessary or advisable (including the execution of financing statements and any additional security agreements or amendments thereto) in order to effect and perfect such pledge, (c) cause such Subsidiary of Pledgor to deliver to Buyer a properly completed and duly executed Additional Seller Joinder Agreement, (d) deliver fully-executed joinder agreements relating to such additional Seller’s joinder to the Custodial Agreement, the Servicing Agreement, the Fee Letter and the Controlled Account Agreement, and cause the additional Seller to execute and deliver a new Power of Attorney to Buyer, (e) provide updated copies to Buyer of each of the legal opinions delivered to Buyer on the Closing Date, and (f) deliver to Buyer copies of all lien searches and authorizing documentation required by Buyer, including secretary’s certificates and resolutions, together with a new Compliance Certificate reflecting and confirming the addition of such Subsidiary as an additional Seller hereunder. Thereafter, upon the subsequent delivery of written notice from Buyer to the initial Seller that the related proposed additional Seller has satisfied all of Buyer’s “Know Your Customer”, Anti-Corruption Laws, Sanctions and Anti-Money Laundering Laws diligence, the proposed additional Seller shall be a Seller hereunder.
Appears in 2 contracts
Sources: Master Repurchase and Securities Contract (BrightSpire Capital, Inc.), Master Repurchase and Securities Contract (Colony Credit Real Estate, Inc.)
Additional Sellers. Subject The Borrower may, with the consent of the Administrative Agent, consent to add Additional Sellers to the terms and conditions of this Receivables Sale Agreement and if:
(A) such Additional Seller executes a Joinder Agreement in the other Repurchase Documentsform attached as Exhibit 1 to the Receivables Sale Agreement, including the separateness provisions set forth in Article 9, Pledgor may from time fully executed by all parties required pursuant to time form additional Subsidiaries in order to become additional Sellers hereunder and, in each case, the initial Seller hereunder shall, within ten (10) days after such formation, (a) notify Buyer of such formation, (b) cause Pledgor to pledge in favor of Buyer all Section 2.09 of the Equity Interests held by Pledgor in each Receivables Sale Agreement;
(B) the Administrative Agent shall have received complete Receivables data necessary to populate a Monthly Report or a Weekly Report, as applicable based on the relevant type of report then currently required to be delivered pursuant to Annex 5.02(a), for such Subsidiary and take all such further action as Buyer shall deem reasonably necessary or advisable (including the execution of financing statements and any additional security agreements or amendments thereto) in order to effect and perfect such pledge, (c) cause such Subsidiary of Pledgor to deliver to Buyer a properly completed and duly executed proposed Additional Seller Joinder Agreement, (d) deliver fully-executed joinder agreements relating to such additional Seller’s joinder to the Custodial Agreement, the Servicing Agreement, the Fee Letter and the Controlled Account Agreement, and cause shall have received such a pro forma Monthly Report or a pro forma Weekly Report, as applicable based on the additional Seller relevant type of report then currently required to execute and deliver a new Power of Attorney be delivered pursuant to BuyerAnnex 5.02(a), (e) provide updated copies reasonably satisfactory to Buyer of each them, at least 15 Business Days before the date of the legal opinions delivered to Buyer on the Closing Date, and proposed joinder;
(fC) deliver to Buyer copies of all lien searches and authorizing documentation required by Buyer, including secretary’s certificates and resolutions, together with a new Compliance Certificate reflecting and confirming the addition of such proposed Additional Seller, on a pro forma basis, would not cause a Termination Event or Designated Event to occur;
(D) the proposed Additional Seller shall have satisfied the conditions precedent applicable to a Seller that was a Seller on the Initial Funding Date, mutatis mutandis;
(E) the aggregate Receivables of the proposed Additional Seller (as of its most recently completed fiscal month), together with the aggregate Receivables of each other Subsidiary (as of its most recently completed fiscal month before it became an additional Additional Seller) of Parent that has become (or will become on the same date) an Additional Seller hereunder. Thereafterpursuant to this subsection (n)(ii) in the current calendar year, upon do not exceed 10% of the subsequent delivery aggregate Receivables of written notice from Buyer all Persons that were Sellers (or prior to December 31, 2009, the Sellers as of the Initial Funding Date) as of the December 31st of the immediately preceding calendar year;
(F) Borrower (or the Servicer on behalf of the Borrower) shall have provided calculations to the initial Seller that Administrative Agent of pro forma values for the related proposed additional Seller has satisfied all of Buyer’s “Know Your Customer”, Anti-Corruption Laws, Sanctions and Anti-Money Laundering Laws diligenceDilution Trigger Ratio, the proposed additional Default Trigger Ratio, the Delinquency Trigger Ratio and the Turnover Days Ratio for the most recently completed Settlement Period for which a Determination Date has occurred, and none of such pro forma values shall (on a cumulative basis for all Additional Sellers joining the Receivables Sale Agreement in accordance with this clause (ii) during a calendar year) be more than 5% less favorable to the Lenders than the actual values as of December 31st of the immediately preceding calendar year (in the case of any calculations prior to December 31, 2009), for the Sellers as of the Initial Funding Date; and
(G) Parent shall have delivered to the Administrative Agent copies, satisfactory in form and substance to the Administrative Agent, of all opinions, certificates and other documents required to be delivered in accordance with Section 4 of the form of Joinder Agreement to be executed pursuant to clause (A) above and all other documents related to the joinder of such Additional Seller, and a certificate of an officer of the Additional Seller shall be a Seller hereunderas to satisfaction of the requirements of this subsection (n)(ii).
Appears in 2 contracts
Sources: Credit and Security Agreement (SunGard Systems International Inc.), Credit and Security Agreement (Sungard Data Systems Inc)
Additional Sellers. Subject Prior to the terms Closing, each Additional Seller shall place (i) one or more stock certificates, registered in such Additional Seller's name, representing the number of Seller's Shares of such Additional Seller set forth opposite such Additional Seller's name on Adjusted Annex A, duly endorsed or accompanied by duly executed stock powers in blank and conditions having all necessary stock transfer tax stamps affixed thereto at the expense of such Additional Seller in form suitable for transfer of valid title thereto to Buyer free and clear of any Encumbrances (other than restrictions on transfer under applicable Securities Laws and restrictions on transfer contained in Sections 3 and 5 of the Stockholders' Agreement) in custody, for delivery under this Agreement, under the Custody Agreement and/or (ii) a written notice, in form and substance acceptable to the Company, specifying that, effective upon consummation of the transaction contemplated by this Agreement, vested options to purchase shares of Common Stock held by such Additional Seller shall be exercised for that number of Seller's Shares of such Additional Seller set forth opposite such Additional Seller's name on Adjusted Annex A less such number of Seller's Shares represented by stock certificates placed in custody under the Custody Agreement pursuant to clause (i) above, accompanied by duly executed stock powers in blank and having all necessary stock transfer tax stamps affixed thereto at the expense of such Additional Seller in form suitable for transfer of valid title to such Seller's Shares to be issued upon exercise of such vested options to Buyer free and clear of any Encumbrances (other than restrictions on transfer under applicable Securities Laws and restrictions on transfer contained in Sections 3 and 5 of the Stockholders' Agreement) in custody, for delivery under this Agreement, under the Custody Agreement. At the Closing, the Buyer will deliver to the Custodian the Individual Closing Consideration payable to all Additional Sellers in same day funds by wire transfer to an account at a bank acceptable to the Custodian drawn to the order of the Custodian and the Custodian will (i) deliver to the Company the aggregate exercise price for all options placed in custody under the Custody Agreement to be exercised upon consummation of the transaction contemplated by this Agreement and the other Repurchase Documents, including the separateness provisions set forth in Article 9, Pledgor may from time to time form additional Subsidiaries in order to become additional Sellers hereunder and, in each case, the initial Seller hereunder shall, within ten (10) days after such formationaggregate amount of any applicable withholding Taxes, (aii) notify Buyer of such formation, (b) cause Pledgor deliver to pledge in favor of the Buyer all such Seller's Shares of the Equity Interests held by Pledgor in each such Subsidiary and take all such further action as Buyer shall deem reasonably necessary or advisable Additional Sellers (including Seller's Shares issued upon exercise of options placed in custody under the execution of financing statements Custody Agreement) and any additional security agreements or amendments thereto(iii) in order to effect and perfect such pledge, (c) cause such Subsidiary of Pledgor to deliver to Buyer a properly completed and duly executed each Additional Seller Joinder Agreement, (d) deliver fully-executed joinder agreements relating the consideration payable to such additional Seller’s joinder Additional Seller pursuant to the Custodial Agreement, the Servicing Agreement, the Fee Letter Section 1.1 and the Controlled Account Agreement, and cause the additional Seller to execute and deliver a new Power of Attorney to Buyer, (e) provide updated copies to Buyer of each of the legal opinions delivered to Buyer Custody Agreement on the Closing Date, Date less the sum of (i) the exercise price for any options placed in custody under the Custody Agreement by such Additional Seller and that were exercised upon consummation of the transactions contemplated hereby and (fii) deliver to Buyer copies the amount of all lien searches and authorizing documentation required any applicable withholding Taxes. Payment by Buyer, including secretary’s certificates and resolutions, together with a new Compliance Certificate reflecting and confirming the addition of such Subsidiary as an additional Seller hereunder. Thereafter, upon the subsequent delivery of written notice from Buyer to the initial Seller Custodian of that portion of the related proposed additional Seller has satisfied all Aggregate Purchase Price payable to the Additional Sellers in accordance with this Section 2.2 and the Custody Agreement shall fully satisfy and discharge Buyer's payment obligations due as of Buyer’s “Know Your Customer”, Anti-Corruption Laws, Sanctions and Anti-Money Laundering Laws diligence, the proposed additional Seller shall be a Seller hereunderClosing Date to the Additional Sellers.
Appears in 2 contracts
Sources: Stock Purchase Agreement (Idenix Pharmaceuticals Inc), Stock Purchase Agreement (Idenix Pharmaceuticals Inc)
Additional Sellers. Subject The Borrower may, with the consent of the Administrative Agent, consent to add Additional Sellers to the terms and conditions of this Receivables Sale Agreement and if:
(A) such Additional Seller executes a Joinder Agreement in the other Repurchase Documentsform attached as Exhibit 1 to the Receivables Sale Agreement, including the separateness provisions set forth in Article 9, Pledgor may from time fully executed by all parties required pursuant to time form additional Subsidiaries in order to become additional Sellers hereunder and, in each case, the initial Seller hereunder shall, within ten (10) days after such formation, (a) notify Buyer of such formation, (b) cause Pledgor to pledge in favor of Buyer all Section 2.09 of the Equity Interests held by Pledgor in each Receivables Sale Agreement;
(B) the Administrative Agent shall have received complete Receivables data necessary to populate a Monthly Report or a Weekly Report, as applicable based on the relevant type of report then currently required to be delivered pursuant to Annex 5.02(a), for such Subsidiary and take all such further action as Buyer shall deem reasonably necessary or advisable (including the execution of financing statements and any additional security agreements or amendments thereto) in order to effect and perfect such pledge, (c) cause such Subsidiary of Pledgor to deliver to Buyer a properly completed and duly executed proposed Additional Seller Joinder Agreement, (d) deliver fully-executed joinder agreements relating to such additional Seller’s joinder to the Custodial Agreement, the Servicing Agreement, the Fee Letter and the Controlled Account Agreement, and cause shall have received such a pro forma Monthly Report or a pro forma Weekly Report, as applicable based on the additional Seller relevant type of report then currently required to execute and deliver a new Power of Attorney be delivered pursuant to BuyerAnnex 5.02(a), (e) provide updated copies reasonably satisfactory to Buyer of each them, at least 15 Business Days before the date of the legal opinions delivered to Buyer on the Closing Date, and proposed joinder;
(fC) deliver to Buyer copies of all lien searches and authorizing documentation required by Buyer, including secretary’s certificates and resolutions, together with a new Compliance Certificate reflecting and confirming the addition of such proposed Additional Seller, on a pro forma basis, would not cause a Termination Event or Designated Event to occur;
(D) the proposed Additional Seller shall have satisfied the conditions precedent applicable to a Seller that was a Seller on the Initial Funding Date, mutatis mutandis;
(E) the aggregate Receivables of the proposed Additional Seller (as of its most recently completed fiscal month), together with the aggregate Receivables of each other Subsidiary (as of its most recently completed fiscal month before it became an additional Additional Seller) of Parent that has become (or will become on the same date) an Additional Seller hereunder. Thereafterpursuant to this subsection (n)(ii) in the current calendar year, upon do not exceed 10% of the subsequent delivery aggregate Receivables of written notice from Buyer all Persons that were Sellers as of the December 31st of the immediately preceding calendar year;
(F) Borrower (or the Servicer on behalf of the Borrower) shall have provided calculations to the initial Seller that Administrative Agent of pro forma values for the related proposed additional Seller has satisfied all of Buyer’s “Know Your Customer”, Anti-Corruption Laws, Sanctions and Anti-Money Laundering Laws diligenceDilution Trigger Ratio, the proposed additional Default Trigger Ratio, the Delinquency Trigger Ratio and the Turnover Days Ratio for the most recently completed Settlement Period for which a Determination Date has occurred, and none of such pro forma values shall (on a cumulative basis for all Additional Sellers joining the Receivables Sale Agreement in accordance with this clause (ii) during a calendar year) be more than 5% less favorable to the Lenders than the actual values as of December 31st of the immediately preceding calendar year; and
(G) Parent shall have delivered to the Administrative Agent copies, satisfactory in form and substance to the Administrative Agent, of all opinions, certificates and other documents required to be delivered in accordance with Section 4 of the form of Joinder Agreement to be executed pursuant to clause (A) above and all other documents related to the joinder of such Additional Seller, and a certificate of an officer of the Additional Seller shall be a Seller hereunderas to satisfaction of the requirements of this subsection (n)(ii).
Appears in 1 contract
Sources: Credit and Security Agreement (Sungard Data Systems Inc)
Additional Sellers. Subject The Borrower may, with the consent of the Administrative Agent, consent to add Additional Sellers to the terms and conditions of this Receivables Sale Agreement and if:
(A) such Additional Seller executes a Joinder Agreement in the other Repurchase Documentsform attached as Exhibit 1 to the Receivables Sale Agreement, including the separateness provisions set forth in Article 9, Pledgor may from time fully executed by all parties required pursuant to time form additional Subsidiaries in order to become additional Sellers hereunder and, in each case, the initial Seller hereunder shall, within ten (10) days after such formation, (a) notify Buyer of such formation, (b) cause Pledgor to pledge in favor of Buyer all Section 2.09 of the Equity Interests held by Pledgor in each Receivables Sale Agreement;
(B) the Administrative Agent shall have received complete Receivables data necessary to populate a Monthly Report or a Weekly Report, as applicable based on the relevant type of report then currently required to be delivered pursuant to Annex 5.02(a), for such Subsidiary and take all such further action as Buyer shall deem reasonably necessary or advisable (including the execution of financing statements and any additional security agreements or amendments thereto) in order to effect and perfect such pledge, (c) cause such Subsidiary of Pledgor to deliver to Buyer a properly completed and duly executed proposed Additional Seller Joinder Agreement, (d) deliver fully-executed joinder agreements relating to such additional Seller’s joinder to the Custodial Agreement, the Servicing Agreement, the Fee Letter and the Controlled Account Agreement, and cause shall have received such a pro forma Monthly Report or a pro forma Weekly Report, as applicable based on the additional Seller relevant type of report then currently required to execute and deliver a new Power of Attorney be delivered pursuant to BuyerAnnex 5.02(a), (e) provide updated copies reasonably satisfactory to Buyer of each them, at least 15 Business Days before the date of the legal opinions delivered to Buyer on the Closing Date, and proposed joinder;
(fC) deliver to Buyer copies of all lien searches and authorizing documentation required by Buyer, including secretary’s certificates and resolutions, together with a new Compliance Certificate reflecting and confirming the addition of such proposed Additional Seller, on a pro forma basis, would not cause a Termination Event or Designated Event to occur;
(D) the proposed Additional Seller shall have satisfied the conditions precedent applicable to a Seller that was a Seller on the Initial Funding Date, mutatis mutandis;
(E) the aggregate Receivables of the proposed Additional Seller (as of its most recently completed fiscal month), together with the aggregate Receivables of each other Subsidiary (as of its most recently completed fiscal month before it became an additional Additional Seller) of Parent that has become (or will become on the same date) an Additional Seller hereunder. Thereafterpursuant to this subsection (n)(ii) in the current calendar year, upon do not exceed 10% of the subsequent delivery aggregate Receivables of written notice from Buyer all Persons that were Sellers as of the December 31st of the immediately preceding calendar year;
(F) Borrower (or the Servicer on behalf of the Borrower) shall have provided calculations to the initial Seller that Administrative Agent of pro forma values for the related proposed additional Seller has satisfied all of Buyer’s “Know Your Customer”, Anti-Corruption Laws, Sanctions and Anti-Money Laundering Laws diligenceDilution Trigger Ratio, the proposed additional Default Trigger Ratio, the Delinquency Trigger Ratio and the Turnover Days Ratio for the most recently completed Settlement Period for which a Determination Date has occurred, and none of such pro forma values shall (on a cumulative basis for all Additional Sellers joining the Receivables Sale Agreement in accordance with this clause (ii) during a calendar year) be more than 5% less favorable to the Lenders than the actual values as of December 31st of the immediately preceding calendar year (in the case of any calculations prior to December 31, 2009), for the Sellers as of the Initial Funding Date; and
(G) Parent shall have delivered to the Administrative Agent copies, satisfactory in form and substance to the Administrative Agent, of all opinions, certificates and other documents required to be delivered in accordance with Section 4 of the form of Joinder Agreement to be executed pursuant to clause (A) above and all other documents related to the joinder of such Additional Seller, and a certificate of an officer of the Additional Seller shall be a Seller hereunderas to satisfaction of the requirements of this subsection (n)(ii).
Appears in 1 contract
Sources: Credit and Security Agreement (Sungard Capital Corp Ii)
Additional Sellers. Subject to the terms and conditions of this Agreement and the other Repurchase Documents, including the separateness provisions set forth in Article 9, Pledgor may from time to time form additional Subsidiaries in order to become additional Sellers hereunder and, in each case, the initial Seller hereunder shall, within ten (10) days after such formation, (a) notify Buyer of such formation, (b) cause Pledgor to pledge in favor of Buyer all of the Equity Interests held by Pledgor in each such Subsidiary and take all such further action as Buyer shall deem reasonably necessary or advisable (including the execution of financing statements and any additional security agreements or amendments thereto) in order to effect and perfect such pledge, (c) cause such Subsidiary of Pledgor to deliver to Buyer a properly completed and duly executed Additional Seller Joinder Agreement, (d) deliver fully-executed joinder agreements relating to such additional Seller’s joinder to the Custodial Agreement, the Servicing Agreement, the Fee Letter and the Controlled Account Agreement, and cause the additional Seller to execute and deliver a new Power of Attorney to Buyer, (e) provide updated copies to Buyer of each of the legal opinions delivered to Buyer on the Closing Date, and (f) deliver to Buyer copies of all lien searches and authorizing documentation required by Buyer▇▇▇▇▇, including secretary’s certificates and resolutions, together with a new Compliance Certificate reflecting and confirming the addition of such Subsidiary as an additional Seller hereunder. Thereafter, upon the subsequent delivery of written notice from Buyer to the initial Seller that the related proposed additional Seller has satisfied all of Buyer’s “Know Your Customer”, Anti-Corruption Laws, Sanctions and Anti-Money Laundering Laws diligence, the proposed additional Seller shall be a Seller hereunder.. USActive 62941057.3 -63- 165607677_2
Appears in 1 contract
Sources: Master Repurchase and Securities Contract (BrightSpire Capital, Inc.)
Additional Sellers. Subject At any time prior to the terms Termination Date, Vict▇▇ ▇▇▇ designate any of the Subsidiaries of Thermadyne that is a resident of the United States and of which Thermadyne owns (directly or indirectly) at least eighty percent (80%) of the issued and outstanding equity as an additional "Seller" for purposes of the Program Documents and such Subsidiary shall, subject to the conditions precedent set forth below, become a "Seller" for all purposes and to the same extent as if originally a party to the Program Documents and shall be bound by and entitled to the benefits of this Agreement and the other Repurchase Program Documents, . The addition of any Subsidiary as a "Seller" hereunder shall be subject to the satisfaction of the conditions precedent that (i) the Servicer shall have delivered to the Trustee (with a copy for the Rating Agency) a pro forma Settlement Statement for the most recent Collection Period which shall recalculate the Applicable Reserve Ratio including the separateness provisions set forth historical performance of the Receivables of such additional Seller; (ii) such additional Seller shall have executed an Assumption Agreement substantially in Article 9, Pledgor may from time to time the form additional Subsidiaries of Exhibit C (with the annexes thereto appropriately completed); (iii) except as otherwise contemplated in order to become additional Sellers hereunder and, in each caseSection 2.02(b), the initial Seller hereunder shall, within ten (10) days after such formation, (a) notify Buyer of such formation, (b) cause Pledgor to pledge in favor of Buyer all representations and warranties made by the Initial Sellers as of the Equity Interests held Effective Date shall be made by Pledgor in each such Subsidiary additional Seller as of the date of Victor's initial Purchase from it and take all such further action shall be true and correct as Buyer shall deem reasonably necessary or advisable (including the execution of financing statements and any additional security agreements or amendments thereto) in order to effect and perfect such pledge, (c) cause such Subsidiary of Pledgor to deliver to Buyer a properly completed and duly executed Additional Seller Joinder Agreement, (d) deliver fully-executed joinder agreements relating to such additional Seller’s joinder Seller in all material respects as of such date; (iv) the Servicer, TRI, the Trustee and the Rating Agency shall have received, in form and substance reasonably satisfactory to each of them, an executed copy of such Assumption Agreement and such evidence of legal existence and good standing, secretary's certificates, UCC lien search reports, UCC financing statements, legal opinions and similar documentation required of the Initial Sellers on or prior to the Custodial AgreementEffective Date and such other documentation as may be reasonably required by Vict▇▇, ▇▇I or the Servicing AgreementTrustee; (v) the Rating Agency Condition shall have been satisfied if after giving effect to such addition, the Fee Letter and the Controlled Account Agreement, and cause the either such additional Seller would be a Significant Seller or more than three (3) Sellers shall have been added in any fiscal year of TRI. Upon the satisfaction of all such conditions precedent with respect to execute and deliver a new Power of Attorney to Buyerany such additional Seller, (e) provide updated copies to Buyer of each of the legal opinions delivered to Buyer applicable schedules and exhibits hereto shall be automatically deemed amended in accordance with the applicable Assumption Agreement, without any further action on the Closing Date, and (f) deliver to Buyer copies part of all lien searches and authorizing documentation required by Buyer, including secretary’s certificates and resolutions, together with a new Compliance Certificate reflecting and confirming any of the addition of such Subsidiary as an additional Seller hereunder. Thereafter, upon the subsequent delivery of written notice from Buyer to the initial Seller that the related proposed additional Seller has satisfied all of Buyer’s “Know Your Customer”, Anti-Corruption Laws, Sanctions and Anti-Money Laundering Laws diligence, the proposed additional Seller shall be a Seller hereunderparties hereto.
Appears in 1 contract
Sources: Receivables Participation Agreement (Thermadyne MFG LLC)
Additional Sellers. Subject (a) As soon as reasonably practicable after the date of this Agreement, the Company shall solicit the Company stockholders who are not party to this Agreement as Initial Sellers as of the terms and conditions date of this Agreement (each, a “Minority Stockholder”) to execute and deliver to the Company a Joinder Agreement, and prior to the Closing, the Company and the other Repurchase DocumentsMajority Stockholder shall use their respective reasonable best efforts (including by exercising drag-along rights under the Stockholders Agreements) to cause such Minority Stockholders to execute and deliver to the Company a Joinder Agreement. Following the execution and delivery of a Joinder Agreement by a Minority Stockholder, including (i) Exhibit A of this Agreement shall be updated and modified by the separateness provisions set forth in Article 9, Pledgor may Seller Representative from time to time form additional Subsidiaries in order (without any consent from Buyer and any such update shall be deemed to become additional Sellers hereunder and, in each case, have amended the initial Seller hereunder shall, within ten (10Agreement) days after such formation, to set forth (a) notify Buyer of such formationMinority Stockholder as a “Seller”, “Additional Seller” and a party hereunder and (b) cause Pledgor to pledge in favor the number of Buyer all of the Equity Interests Shares held by Pledgor in each such Subsidiary and take all such further action as Buyer shall deem reasonably necessary or advisable (including the execution of financing statements and any additional security agreements or amendments thereto) in order to effect and perfect such pledgeMinority Stockholder, (cii) cause such Subsidiary the Company shall provide a copy of Pledgor each executed Joinder Agreement and update to Exhibit A of this Agreement to Buyer and (iii) any Additional Seller shall have the right (but not the obligation) to deliver to Buyer a properly completed and duly executed in connection with executing the Joinder Agreement an additional Seller Disclosure Schedule as of the date of an Additional Seller’s execution of its Joinder Agreement with respect to any representation or warranty made by such Additional Seller Joinder Agreementin Article IV to the extent untrue, incomplete or inaccurate as a result of such Minority Shareholder becoming an Additional Seller (d) deliver fully-executed joinder agreements relating without any consent from Buyer and any such Seller Disclosure Schedule shall be deemed to have qualified the relevant representations and warranties in Article IV with respect to such additional Additional Seller’s joinder ).
(b) In the event that any Minority Stockholder has not executed and delivered to Buyer a Joinder Agreement within fifteen (15) Business Days (or such longer period as may be mutually agreed by Buyer and the Custodial Seller Representative) following the date of the execution of this Agreement, the Servicing Agreement, the Fee Letter and the Controlled Account Agreement, and cause the additional Seller parties hereto shall cooperate in good faith to execute an amendment to this Agreement solely intended to effect the transactions contemplated by this Agreement pursuant to a merger under applicable Law of a wholly owned subsidiary of Buyer with and deliver a new Power of Attorney to Buyer, (e) provide updated copies to Buyer of each into the Company in lieu of the legal opinions delivered to Buyer on the Closing Date, and (f) deliver to Buyer copies of all lien searches and authorizing documentation required by Buyer, including secretary’s certificates and resolutions, together with a new Compliance Certificate reflecting and confirming the addition of such Subsidiary as an additional Seller hereunder. Thereafter, upon the subsequent delivery of written notice from Buyer to the initial Seller that the related proposed additional Seller has satisfied all of Buyer’s “Know Your Customer”, Anti-Corruption Laws, Sanctions and Anti-Money Laundering Laws diligence, the proposed additional Seller shall be a Seller hereunderShare Purchase.
Appears in 1 contract
Sources: Stock Purchase Agreement (Advanced Micro Devices Inc)