Common use of Specific Actions Clause in Contracts

Specific Actions. Without limiting the generality of Section 5.11.A., (i) no later than seven Business Days prior to any Borrower or any of its Subsidiaries opening any new Account, the Borrowers shall notify the Administrative Agent of the potential opening of such new Account and, upon the request of the Administrative Agent, such Borrower or such Subsidiary, as applicable, the Administrative Agent and the bank or financial institution with whom such account will be opened shall enter into a Control Agreement with respect to such Account on or prior to its opening and (ii) if any Borrower or any of its Subsidiaries uses or establishes a NOC in a location different than the location of FiberNet’s NOC on the Closing Date, such Borrower shall, or shall cause such Subsidiary to, grant to the Administrative Agent, for the benefit of the Secured Parties, a first priority security interest in and lien on the real property interests of such Borrower or such Subsidiary, as applicable, comprising or directly related to any such NOC. With respect to clause (ii), (a) such grant shall be effectuated through a deed of trust, leasehold deed of trust, mortgage or any other document or instrument (and each such document, when entered into, shall be deemed to be a Collateral Document hereunder) reasonably requested by the Administrative Agent, in each case, in form and substance satisfactory to the Administrative Agent, and (b) such Borrower or such Subsidiary shall obtain a lender’s title insurance policy, in form and substance satisfactory to the Administrative Agent, in respect of such real property.

Specific Actions. Without limiting the generality of Section 5.11.A., -------------- (i) no later than seven Business Days prior to any Borrower or any of its Subsidiaries opening any new Account, the Borrowers shall notify the Administrative Agent of the potential opening of such new Account and, upon the request of the Administrative Agent, such Borrower or such Subsidiary, as applicable, the Administrative Agent and the bank or financial institution with whom such account will be opened shall enter into a Control Agreement with respect to such Account on or prior to its opening and (ii) if any Borrower or any of its Subsidiaries uses or establishes a NOC in a location different than the location of FiberNet’s 's NOC on the Closing Date, such Borrower shall, or shall cause such Subsidiary to, grant to the Administrative Agent, for the benefit of the Secured Parties, a first priority security interest in and lien on the real property interests of such Borrower or such Subsidiary, as applicable, comprising or directly related to any such NOC. With respect to clause (ii), (a) such grant shall be effectuated through a deed of trust, leasehold deed of trust, mortgage or any other document or instrument (and each such document, when entered into, shall be deemed to be a Collateral Document hereunder) reasonably requested by the Administrative Agent, in each case, in form and substance satisfactory to the Administrative Agent, and (b) such Borrower or such Subsidiary shall obtain a lender’s 's title insurance policy, in form and substance satisfactory to the Administrative Agent, in respect of such real property.

Specific Actions. Without limiting the generality of Section 5.11.A., --------------- (i) no later than seven Business Days prior to any the Borrower or any of its Subsidiaries opening any new Account, the Borrowers Borrower shall notify the Administrative Agent of the potential opening of such new Account and, upon the request of the Administrative Agent, such the Borrower or such Subsidiary, as applicable, the Administrative Agent and the bank or financial institution with whom such account will be opened shall enter into a Control Agreement with respect to such Account on or prior to its opening and (ii) if any the Borrower or any of its Subsidiaries uses or establishes a NOC in a location different than the location of FiberNet’s the Borrower's NOC on the Closing Date, such the Borrower shall, or shall cause such Subsidiary to, grant to the Administrative Agent, for the benefit of the Secured Parties, a first priority security interest in and lien on the real property interests of such the Borrower or such Subsidiary, as applicable, comprising or directly related to any such NOC. With respect to clause (ii), (a) such grant shall be effectuated through a deed of trust, leasehold deed of trust, mortgage or any other document or instrument (and each such document, when entered into, shall be deemed to be a Collateral Document hereunder) reasonably requested by the Administrative Agent, in each case, in form and substance satisfactory to the Administrative Agent, and (b) such the Borrower or such Subsidiary shall obtain a lender’s 's title insurance policy, in form and substance satisfactory to the Administrative Agent, in respect of such real property.