Common use of Swedish Security Clause in Contracts

Swedish Security. The Borrower shall deliver, or shall cause Sierra Wireless Sweden Holding AB (as applicable) to deliver, in favour of the Agent, in form and substance satisfactory to the Agent, a pledge of all Equity Interests owned by the Borrower in the capital of Sierra Wireless Sweden Holding AB, within sixty (60) days following the Effective Date, including without limitation: (A) all registrations necessary or desirable in connection any such pledge of Equity Interests provided to the Agent to perfect, evidence or record the security interests created under such pledge of Equity Interests; (B) certified copies of the organizational documents of the Borrower and Sierra Wireless Sweden Holding AB; (C) certified copies of all corporate action, including partnership or shareholder approval, if necessary, taken by the Borrower and Sierra Wireless Sweden Holding AB, as applicable, to authorize such Credit Documents; (D) certified copies of all approvals required under the constating documents of Sierra Wireless Sweden Holding AB to authorize the pledge of such Equity Interests by the Borrower to the Agent, the transfer of such Equity Interests, upon realization under any Credit Documents, to the Agent or its nominee and the further transfer by Agent or its nominee to any third party; (E) a certificate evidencing the good standing or equivalent thereof in the jurisdiction of incorporation for Sierra Wireless Sweden Holding AB and for any Subsidiary of Sierra Wireless Sweden Holding AB located in Sweden; (F) such other agreements, security, undertakings, certificates and documents as may be reasonably required by the Agent to provide the Agent with a second priority security interest in all present and future Equity Interests in the capital of Sierra Wireless Sweden Holding AB; and (G) opinions from counsel to the Borrower and Sierra Wireless Sweden Holding AB, to the satisfaction of the Agent, with respect to, inter alia, Sierra Wireless Sweden Holding AB and such pledge of Equity Interests by the Borrower in the capital of Sierra Wireless Sweden Holding AB.

Swedish Security. The Borrower shall deliver, or shall cause Sierra Wireless Sweden Holding AB (as applicable) to deliver, in favour of the Administrative Agent, in form and substance satisfactory to the Administrative Agent, a pledge of all Equity Interests owned by the Borrower in the capital of Sierra Wireless Sweden Holding AB, within sixty (60) days following the Effective Closing Date, including without limitation:: lxx (Aa) all registrations necessary or desirable in connection any such pledge of Equity Interests provided to the Administrative Agent to perfect, evidence or record the security interests created under such pledge of Equity Interests; (Bb) certified copies of the organizational documents Organizational Documents of the Borrower and Sierra Wireless Sweden Holding AB; (Cc) certified copies of all corporate action, including partnership or shareholder approval, if necessary, taken by the Borrower and Sierra Wireless Sweden Holding AB, as applicable, to authorize such Credit Loan Documents; (Dd) certified copies of all approvals required under the constating documents of Sierra Wireless Sweden Holding AB to authorize the pledge of such Equity Interests by the Borrower to the Administrative Agent, the transfer of such Equity Interests, upon realization under any Credit Loan Documents, to the Administrative Agent or its nominee and the further transfer by Administrative Agent or its nominee to any third party; (Ee) a certificate evidencing the good standing or equivalent thereof in the jurisdiction of incorporation for Sierra Wireless Sweden Holding AB and for any Subsidiary of Sierra Wireless Sweden Holding AB located in Sweden; (Ff) such other agreements, security, undertakings, certificates and documents as may be reasonably required by the Administrative Agent to provide the Administrative Agent with a second first priority security interest in all present and future Equity Interests in the capital of Sierra Wireless Sweden Holding AB; and (Gg) opinions from counsel to the Borrower and Sierra Wireless Sweden Holding AB, to the satisfaction of the Administrative Agent, with respect to, inter alia, Sierra Wireless Sweden Holding AB and such pledge of Equity Interests by the Borrower in the capital of Sierra Wireless Sweden Holding AB.