Common use of Creation/Acquisition of Subsidiaries Clause in Contracts

Creation/Acquisition of Subsidiaries. In the event Borrower or any Subsidiary creates or acquires any Subsidiary, Borrower and such Subsidiary shall promptly notify Bank of the creation or acquisition of such new Subsidiary and take all such action as may be reasonably required by Bank to cause such Subsidiary to become a co-Borrower hereunder and Borrower shall grant and pledge to Bank a perfected security interest in the stock, units or other evidence of ownership of such Subsidiary.

Creation/Acquisition of Subsidiaries. In the event Borrower or any Subsidiary creates or acquires any Subsidiary, Borrower and such Subsidiary shall promptly notify Bank of the creation or acquisition of such new Subsidiary and take all such action as may be reasonably required by Bank to cause such Subsidiary to become a co-Borrower hereunder hereunder, and Borrower shall grant and pledge to Bank a perfected security interest in the stock, units or other evidence of ownership of such Subsidiary.

Creation/Acquisition of Subsidiaries. In the event Borrower or any Subsidiary creates or acquires any Subsidiary, Borrower and such Subsidiary shall promptly notify Bank Lender of the creation or acquisition of such new Subsidiary and and, if requested by Lender, take all such action as may be reasonably required by Bank Lender to cause such Subsidiary to become a co-Borrower hereunder hereunder, and Borrower Borrower, if requested by Lender, shall grant and pledge to Bank Lender a perfected security interest in the stock, units or other evidence of ownership of such Subsidiary.

Creation/Acquisition of Subsidiaries. In the event Borrower or any Subsidiary creates or acquires any Subsidiary, Borrower and such Subsidiary shall promptly notify Bank of the creation or acquisition of such new Subsidiary and take all such action as may be reasonably required by Bank to cause such Subsidiary to become guarantee the Obligations of Borrower under the Loan Documents and grant a co-Borrower hereunder continuing pledge and Borrower shall grant and pledge to Bank a perfected security interest in and to the stock, units or other evidence of ownership collateral of such SubsidiarySubsidiary (substantially as described on Exhibit A hereto).

Creation/Acquisition of Subsidiaries. In the event Borrower or any Subsidiary creates or acquires any Subsidiary, Borrower and such Subsidiary shall promptly notify Bank of the creation or acquisition of such new Subsidiary and take all such action as may be reasonably required by Bank to cause such Subsidiary to become grant a co-Borrower hereunder continuing pledge and Borrower shall grant and pledge to Bank a perfected security interest in the stockShares of each Subsidiary that is a direct, units or other evidence wholly-owned Subsidiary of ownership of such SubsidiaryBorrower.

Creation/Acquisition of Subsidiaries. In the event Borrower or any Subsidiary of Borrower creates or acquires any Subsidiary, Borrower and or such Subsidiary shall promptly notify Bank of the such creation or acquisition of such new Subsidiary and take all such action as may be reasonably required by Bank to cause such Subsidiary to become a co-Borrower hereunder and Borrower shall grant and pledge to Bank a perfected security interest in the stock, units or other evidence of ownership of such Subsidiaryacquisition.