Collateral Covered Clause Samples

Collateral Covered. As of the Effective Date, the Collateral covered by the Security Documents constitutes substantially all real Property (other than the Excluded Real Property) and substantially all material personal Property owned by U.S. Borrower and its Subsidiaries (other than Excluded Subsidiaries and Foreign Subsidiaries which are not Subsidiaries of Canadian Borrower or U.K. Borrower) and all of the issued and outstanding Equity Interests in all of the Subsidiaries of U.S. Borrower (other than Excluded Subsidiaries and Foreign Subsidiaries which are not Subsidiaries of Canadian Borrower or U.K. Borrower) owned by U.S. Borrower or any of its Subsidiaries (with the Collateral being allocated among Canadian Obligations, U.K. Obligations and U.S. Obligations as herein provided).

Collateral Covered. 67 6.19 Property of Excluded Subsidiaries and Certain Foreign Subsidiaries... 67

Collateral Covered. As of the Effective Date, the Collateral covered by the Security Documents constitutes all of the issued and outstanding equity interests in all of the Subsidiaries of Parent.

Collateral Covered. As of the Effective Date, the Collateral covered by the Security Documents constitutes substantially all material personal Property owned by U.S. Borrower and its Subsidiaries and all of the issued and outstanding equity interests in all of the Subsidiaries of U.S. Borrower owned by U.S. Borrower or any of its Subsidiaries (with the Collateral being allocated between Canadian Obligations and U.S. Obligations as herein provided).

Collateral Covered. As of the Effective Date, the Collateral covered by the Security Documents constitutes substantially all material personal Property owned by the Borrower and its Subsidiaries (other than Foreign Subsidiaries). The book value of assets owned by Foreign Subsidiaries does not exceed $10,000,000.

Collateral Covered. As of the Effective Date, the Collateral covered by the Security Documents constitutes all real and personal Property owned by the Borrower and its Subsidiaries (other than (a) Foreign Subsidiaries, (b) 35% of the equity interests in and to Foreign Subsidiaries, (c) vehicles covered by certificates of title and (d) a tract of real property in Muskogee, Oklahoma which Plant Maintenance, Inc. is contractually obligated to convey to the former shareholders of Plant Maintenance, Inc.). (n) A new SECTION 6.19 is hereby added to the Loan Agreement, such new Section reading in its entirety as follows:

Collateral Covered. As of the Effective Date, the Collateral covered by the Security Documents constitutes all of the present capital stock or other membership, equity, ownership or profit interests of or in each Obligor (other than Carrols Restaurant Group) and 66% of the voting equity or ownership interests and 100% of all non-voting equity or ownership interests of any present first tier foreign Subsidiary of any Obligor.