Closing Changes; Bailees; Collections on Receivables and Related Contracts Sample Clauses

Closing Changes; Bailees; Collections on Receivables and Related Contracts. (a) No Grantor will change its name, type of organization, jurisdiction of organization, organizational identification number (if such Grantor is organized in a jurisdiction that requires the organizational number of a debtor to be identified on a financing statement in order to create a perfected second priority security interest) or location of its chief executive office (in the case only of a Grantor that is not a "registered organization", as such term is defined in Section 9-102 of the UCC) from those set forth in Section 8(a) of this Second Lien Shared Security Agreement without first giving at least 30 days' prior written notice to the Collateral Trustee and taking all action required by the Collateral Trustee for the purpose of perfecting or protecting the security interest granted by this Second Lien Shared Security Agreement. Except with respect to security agreements related to Permitted Liens, no Grantor will become bound by a security agreement authenticated by another Person (determined as provided in Section 9-203(d) of the UCC) without giving the Collateral Trustee 30 days' prior written notice thereof and taking all action required by the Collateral Trustee to ensure that the perfection and second priority nature of the Collateral Trustee's security interest in the Shared Collateral will be maintained. If any Grantor that is organized in a jurisdiction that requires the organizational number of a debtor to be identified on a relevant financing statement in order to create a perfected second priority security interest does not have an organizational identification number and later obtains one, it will forthwith notify the Collateral Trustee of such organizational identification number. (b) If any Shared Collateral constituting goods of any Grantor is, to the Knowledge of such Grantor, at any time in the possession or control of a warehouseman, bailee or agent, or if the Collateral Trustee so requests, such Grantor will (i) notify such warehouseman, bailee or agent of the security interest created hereunder and under the First Priority Shared Security Agreement, (ii) instruct such warehouseman, bailee or agent to hold all such Shared Collateral solely for the Collateral Trustee's account subject (A) to the Intercreditor Agreement (and the prior rights of the First Priority Controlling Collateral Parties on behalf of the holders of the First Priority Obligations) and (B) after the First Priority Lien Satisfaction Date, to the Collateral Trust...