Requirements for Replacement Units or Additional Eligible Units Clause Samples

Requirements for Replacement Units or Additional Eligible Units. In the event that the Borrower shall elect to purchase a Replacement Unit pursuant to Section 6.13(d) or the Seller shall elect to repurchase or replace a Unit pursuant to Section 11.1(c) or elect to contribute additional Eligible Units pursuant to 6.20(b), the Borrower shall, at its own expense: (i) cause a Security Agreement Supplement to be duly executed by the Borrower and delivered to the Agent, and cause a financing statement and/or other requisite documents of a similar nature (including precautionary filings) to be filed in such place or places as necessary in order to perfect the security interests therein created by or pursuant to the Security Agreement in such Units (including any filings required to be deposited with the STB or the RGC); ‑67‑ (ii) deliver to the Collateral Agent the original Lease Agreements related to such Unit; (iii) deliver to the Administrative Agent an Appraisal Report listing the Appraised Value of such Units dated no earlier than ninety (90) days prior to the date on which the Borrower purchases or accepts such Units; (iv) deliver to the Administrative Agent with such evidence of compliance with the insurance provisions of Section 6.3 with respect to such Units as the Administrative Agent may reasonably request, and (v) deliver to the Administrative Agent (a) a certificate of the chief financial officer or other financial or accounting officer of the Borrower acceptable to Administrative Agent, to the effect that such Units are Eligible Units and are free and clear of all Liens except Permitted Liens and (b) an opinion of counsel that such Units are duly subjected to the Lien of the Security Agreement and that the Administrative Agent has a perfected first priority Lien with respect to the Borrower's right, title and interest in and to such Units subject only to Permitted Liens (provided that such opinion may be substantially in the form of the same opinion given on the Closing Date).