Common use of Collateral Call Clause in Contracts

Collateral Call. The Borrower agrees upon the creation, formation or acquisition of any direct or indirect Restricted Subsidiary of the Borrower and/or the Parent, to immediately pledge 100% of the Capital Stock of any such Restricted Subsidiary to secure the Obligations, pursuant to a pledge agreement substantially in the form of Exhibit H hereto, and to promptly deliver to the Administrative Agent all certificates or other documentation evidencing 100% of such Capital Stock and, if such Capital Stock is stock of a corporation, together with stock powers executed in blank. The Borrower agrees, notwithstanding (a) above, promptly upon request by the Administrative Agent, to use its best efforts to take all actions necessary or advisable to promptly grant the Administrative Agent on behalf of the Lenders a Lien and/or security interest in all or any portion of the tangible and intangible assets and Properties of the Parent, the Borrower and the Restricted Subsidiaries (whether through Capital Stock or otherwise), including to immediately pledge/mortgage or grant a first priority security interest in real property to secure the Obligations, provided that under no circumstances shall the Borrower be required to gran▇ ▇ ▇▇▇▇ ▇▇▇/or security interest in the microwave assets, motor vehicles, and other Properties and assets of the Parent, the Borrower and the Restricted Subsidiaries subject to a Permitted Lien or a Lien permitted by Section 8.03(b) hereof, or other assets which are prohibited by law or prohibited contractually on the date hereof from being subject to Liens. The Borrower agrees to use its best efforts to (and cause the Parent and the Restricted Subsidiaries to use their best efforts to), upon the request of the Majority Lenders, grant the Administrative Agent on behalf of Lenders a first priority Lien or security interest (subject to Permitted Liens) in any asset of the Borrower, the Parent or any of their Restricted Subsidiaries.

Collateral Call. The Borrower agrees after the date hereof upon the creation, formation or acquisition of any direct or indirect Restricted Subsidiary of the Borrower and/or the Parent, to immediately pledge or cause to be pledged 100% of the Capital Stock of any such Restricted Subsidiary that is owned by the Parent, the Borrower or any of their Subsidiaries to secure the Obligations, pursuant to a pledge agreement substantially similar to those executed in the form of Exhibit H heretoconnection herewith, and to promptly deliver to the Administrative Agent all certificates or other documentation evidencing 100% of such Capital Stock and, if such Capital Stock is stock of a corporation, together with stock powers executed in blank. The Borrower agrees, notwithstanding (a) above, promptly upon request by the Administrative Agent, to use its best commercially reasonable efforts to take all actions necessary or advisable to promptly grant the Administrative Agent on behalf of the Lenders a Lien and/or security interest in all or any portion of the tangible and intangible assets and Properties properties of the Parent, the Borrower and their Subsidiaries except Telergy Canada, owned by the Restricted Subsidiaries Parent or the Borrower directly or indirectly (whether through Capital Stock or otherwise), including to immediately pledge/mortgage or grant a first priority security interest in real property to secure the Obligations, provided that under no circumstances shall the Parent or the Borrower be required to gran▇ ▇ ▇▇▇▇ ▇▇▇/or security interest in the microwave assetsExcluded Stock, motor vehiclesExcluded Assets, and any other Properties and assets of the Parent, the Borrower and the Restricted or any of their Subsidiaries subject to a Permitted Lien or a Lien permitted by Section 8.03(b) 7.03 hereof, or in any other assets (or assign any other assets) with respect to which the Parent, the Borrower or their Subsidiaries are contractually prohibited or prohibited by law Law from assignment or prohibited contractually on the date hereof from being subject to Liens. The Borrower agrees to use its best efforts to (and cause the Parent and the Restricted Subsidiaries to use their best efforts to), upon the request of the Majority Lenders, grant the Administrative Agent on behalf of Lenders granting a first priority Lien or security interest (subject to Permitted Liens) in any asset of the Borrower, the Parent or any of their Restricted SubsidiariesLien.