Icagen-T Lien. Within thirty (30) days after the earlier of (i) the date the Icagen-T MSA no longer prohibits Icagen-T and its Subsidiaries from being a Subsidiary Guarantor and (ii) the date the Icagen-T MSA is terminated, Borrower shall (x) deliver all certificates representing 100% of Icagen-T’s Equity Interests to the Administrative Agent, accompanied by undated instruments of transfer duly executed in blank, and (y) take all such actions required (including, without limitation, all such actions described in Section 8.12) to cause Icagen-T and its Subsidiaries to become Subsidiary Guarantors and to pledge a first priority Lien on all of their respective assets to the Administrative Agent for the benefit of the Lenders (subject to Permitted Priority Liens).
Appears in 4 contracts
Sources: Forbearance Agreement and Second Amendment to Credit Agreement and Guaranty (Icagen, Inc.), Forbearance Agreement and First Amendment to Credit Agreement and Guaranty (Icagen, Inc.), Credit Agreement and Guaranty (Icagen, Inc.)