Common use of Pledged Assets Clause in Contracts

Pledged Assets. The Company will, and will cause each Guarantor to, cause 100% of the Equity Interests in each of their direct Domestic Subsidiaries and 65% (to the extent the pledge of a greater percentage would be unlawful or may cause any adverse tax consequences to the Company) of the voting Equity Interests and 100% of the non-voting Equity Interests of its first-tier Foreign Subsidiaries (other than any Excluded Subsidiary), to be subject at all times to a first priority, perfected Lien in favor of the Agent for the benefit of the Secured Parties pursuant to the terms and conditions of the Security Documents or such other security documents as the Agent shall reasonably request.

Pledged Assets. The Company will, and will cause each Guarantor to, cause 100% of the Equity Interests in each of their direct Domestic Subsidiaries and 65% (to the extent the pledge of a greater percentage would be unlawful or may cause any adverse tax consequences to the Company) of the voting Equity Interests and 100% of the non-voting Equity Interests of its first-tier Foreign Subsidiaries (other than any Excluded Subsidiary)Subsidiaries, to be subject at all times to a first priority, perfected Lien in favor of the Agent for the benefit of the Secured Parties pursuant to the terms and conditions of the Security Documents or such other security documents as the Agent shall reasonably request.