Common use of Additional Assurances Clause in Contracts

Additional Assurances. (a) The Borrower is not the owner of, nor has it any interest in, any property or asset which, immediately upon the satisfaction of the conditions precedent to the effectiveness of the credit facility contemplated hereby (Article 4) will be not be subject to a perfected security interest in favor of the Lender (subject only to those Encumbrances (if any) described on EXHIBIT 5- 5, annexed hereto) to secure the Liabilities. (b) The Borrower will not hereafter acquire any asset or any interest in property which is not, immediately upon such acquisition, subject to such a perfected security interest in favor of the Lender to secure the Liabilities (subject only to Encumbrances (if any) permitted pursuant to Section 5-5, above). (c) The Borrower shall execute and deliver to the Lender such instruments, documents, and papers, and shall do all such things from time to time hereafter as the Lender may request to carry into effect the provisions and intent of this Agreement; to protect and perfect the Lender's security interests in the Collateral; and to comply with all applicable statutes and laws, and facilitate the collection of the Receivables Collateral. The Borrower shall execute all such instruments as may be required by the Lender with respect to the recordation and/or perfection of the security interests created herein. (d) A carbon, photographic, or other reproduction of this Agreement or of any financing statement or other instrument executed pursuant to this Section 5-23 shall be sufficient for filing to perfect the security interests granted herein.

Appears in 1 contract

Sources: Loan and Security Agreement (Sunbelt Nursery Group Inc)

Additional Assurances. (a) The Borrower is not the owner of, nor has it any interest in, any property or asset which, immediately upon the satisfaction of the conditions precedent to the effectiveness of the credit facility contemplated hereby (Article 4) will be not be subject to a perfected security interest in favor of the Lender (subject only to those Encumbrances (if any) described on EXHIBIT 5- 5-5, annexed hereto) to secure the Liabilities. (b) The Borrower will not hereafter acquire any asset or any interest in property which is not, immediately upon such acquisition, subject to such a perfected security interest in favor of the Lender to secure the Liabilities (subject only to Encumbrances (if any) permitted pursuant to Section 5-5, above). (c) The Borrower shall execute and deliver to the Lender such instruments, documents, and papers, and shall do all such things from time to time hereafter as the Lender may reasonably request to carry into effect the provisions and intent of this Agreement; to protect and perfect the Lender's security interests in the Collateral; and to comply with all applicable statutes and laws, and facilitate the collection of the any Receivables Collateral. The Borrower shall execute all such instruments as may be reasonably required by the Lender with respect to the recordation and/or perfection of the security interests created herein. (d) A carbon, photographic, or other reproduction of this Agreement or of any financing statement or other instrument executed pursuant to this Section 5-23 shall be sufficient for filing to perfect the security interests granted herein.

Appears in 1 contract

Sources: Loan and Security Agreement (Iparty Corp)

Additional Assurances. (a) The Borrower is Borrowers are not the owner of, nor has it have they any interest in, any property or asset which, immediately upon the satisfaction of the conditions precedent to the effectiveness of the credit facility contemplated hereby (Article 4) will be not be subject to a perfected security interest in favor of the Lender (subject only to those Encumbrances (if any) described on EXHIBIT 5- 5-5, annexed hereto) to secure the Liabilities. (b) The Borrower Borrowers will not hereafter acquire any asset or any interest in property which is not, immediately upon such acquisition, subject to such a perfected security interest in favor of the Lender to secure the Liabilities (subject only to Encumbrances (if any) permitted pursuant to Section 5-5, above). (c) The Borrower Borrowers shall execute and deliver to the Lender such instruments, documents, and papers, and shall do all such things from time to time hereafter as the Lender may reasonably request to carry into effect the provisions and intent of this Agreement; to protect and perfect the Lender's ’s security interests in the Collateral; and to comply with all applicable statutes and laws, and facilitate the collection of the any Receivables Collateral. The Borrower Borrowers shall execute all such instruments as may be reasonably required by the Lender with respect to the recordation and/or perfection of the security interests created herein. (d) A carbon, photographic, or other reproduction of this Agreement or of any financing statement or other instrument executed pursuant to this Section 5-23 shall be sufficient for filing to perfect the security interests granted herein.

Appears in 1 contract

Sources: Loan and Security Agreement (Iparty Corp)

Additional Assurances. (a) The Borrower is not the owner of, nor has it any interest in, any property or asset which, immediately upon the satisfaction of the conditions precedent to the effectiveness of the credit facility contemplated hereby (Article 4) will be not be subject to a perfected security interest in favor of the Lender (subject only to those Encumbrances (if any) described on EXHIBIT 5- 5-5, annexed hereto) to secure the Liabilities. (b) The Borrower will not hereafter acquire any asset or any interest in property which is not, immediately upon such acquisition, subject to such a perfected security interest in favor of the Lender to secure the Liabilities (subject only to Encumbrances (if any) permitted pursuant to Section 5-5, above). (c) The Borrower shall execute and deliver to the Lender such instruments, documents, and papers, and shall do all such things from time to time hereafter as the Lender may reasonably request to carry into effect the provisions and intent of this Agreement; to protect and perfect the Lender's security interests interest in the Collateral; and to comply with all applicable statutes and laws, and facilitate the collection of the Receivables Collateral. The Borrower shall execute all such instruments as may be reasonably required by the Lender with respect to the recordation and/or perfection of the security interests created herein. (d) A carbon, photographic, or other reproduction of this Agreement or of any financing statement or other instrument executed pursuant to this Section 5-23 shall be sufficient for filing to perfect the security interests granted hereintherein.

Appears in 1 contract

Sources: Loan and Security Agreement (Big Entertainment Inc)

Additional Assurances. (a) The Borrower is Except as set forth in Exhibit 4.25, the Borrowers are not the owner of, nor has it have they any interest in, any property or asset whichmaterial or necessary to their business, which immediately upon the satisfaction of the conditions precedent to the effectiveness of the credit facility contemplated hereby (Article 4) will be not be subject to a perfected security interest in favor of the Lender (subject only to those Encumbrances (if any) described on EXHIBIT 5- 5, annexed hereto) to secure the Liabilities.104 (b) The Borrower Borrowers will not hereafter acquire any asset or any interest in personal property which (if a security interest in such asset or interest may be perfected by filing under Article 9 of the UCC), is not, immediately upon such acquisition, subject to such a perfected security or other collateral interest in favor of the Lender Agent to secure the Liabilities (subject only to Encumbrances (if any) permitted pursuant to Section 5-5, abovePermitted Encumbrances). (c) The Borrower Borrowers shall execute and deliver to the Lender Agent such instruments, documents, and papers, and shall do all such things from time to time hereafter as the Lender Agent may request reasonably request: to carry into effect the provisions and intent of this Agreement; to protect and perfect the LenderAgent's security interests in the Collateral; and to comply with all applicable statutes and laws, ; and to facilitate the collection of the Receivables Collateral. The Borrower Borrowers shall execute all such instruments as may be reasonably required by the Lender Agent with respect to the recordation and/or perfection of the security interests created herein. (d) The Borrowers hereby designate the Agent as and for the Borrowers' true and lawful attorney, with full power of substitution, to sign and file, where permitted by law any financing statements in order to perfect or protect the Agent's security interest and other collateral interests in the Collateral. (e) A carbon, photographic, or other reproduction of this Agreement or of any financing statement or other instrument executed pursuant to this Section 5-23 4.25 shall be sufficient for filing to perfect the security interests granted herein, where permitted by law. 4.

Appears in 1 contract

Sources: Loan and Security Agreement (Lechters Inc)

Additional Assurances. (a) The Borrower is not the owner of, nor has it any interest in, any property or asset which, immediately upon the satisfaction of the conditions precedent to the effectiveness of the credit facility contemplated hereby (Article 4) will be not be subject to a perfected security interest in favor of the Lender (subject only to those Encumbrances (if any) described on EXHIBIT 5- 5-5, ----------- annexed hereto) to secure the Liabilities. (b) The Borrower will not hereafter acquire any asset or any interest in property which is not, immediately upon such acquisition, subject to such a perfected security interest in favor of the Lender to secure the Liabilities (subject only to Encumbrances (if any) permitted pursuant to Section 5-5, above). (c) The Borrower shall execute and deliver to the Lender such instruments, documents, and papers, and shall do all such things from time to time hereafter as the Lender may request to carry into effect the provisions and intent of this Agreement; to protect and perfect the Lender's security interests in the Collateral; and to comply with all applicable statutes and laws, and facilitate the collection of the any Receivables Collateral. The Borrower shall execute all such instruments as may be required by the Lender with respect to the recordation and/or perfection of the security interests created herein. (d) A carbon, photographic, or other reproduction of this Agreement or of any financing statement or other instrument executed pursuant to this Section 5-23 shall be sufficient for filing to perfect the security interests granted herein.

Appears in 1 contract

Sources: Loan and Security Agreement (National Home Centers Inc)

Additional Assurances. (a) The Borrower is not the owner of, nor has it any interest in, any property or asset which, immediately upon the satisfaction of the conditions precedent to the effectiveness of the credit facility contemplated hereby (Article 43) will be not be subject to a perfected security interest or other collateral interest in favor of the Lender Agent (subject only to those Encumbrances (if any) described on EXHIBIT 5- 5, annexed heretoPermitted Encumbrances) to secure the Liabilities. (b) The Borrower will not hereafter acquire any asset or any interest in property which is not, immediately upon such acquisition, subject to such a perfected security or other collateral interest in favor of the Lender Agent to secure the Liabilities (subject only to Encumbrances (if any) permitted pursuant to Section 5-5, abovePermitted Encumbrances). (c) The Borrower shall execute and deliver to the Lender Agent such instruments, documents, and papers, and shall do all such things from time to time hereafter as the Lender Agent may request to carry into effect the provisions and intent of this Agreement; to protect and perfect the LenderAgent's security interests in the Collateral; and to comply with all applicable statutes and laws, and facilitate the collection of the Receivables Collateral. The Borrower shall execute all such instruments as may be required by the Lender Agent with respect to the recordation and/or perfection of the security interests created herein. (d) The Borrower hereby designates the Agent as and for the Borrower's true and lawful attorney, with full power of substitution, to sign and file or record any financing or other statements in order to perfect or protect the Agent's security interest in the Collateral. (e) A carbon, photographic, or other reproduction of this Agreement or of any financing statement or other instrument executed pursuant to this Section 54-23 shall be sufficient for filing to perfect the security interests granted herein.

Appears in 1 contract

Sources: Loan and Security Agreement (Factory Card Outlet Corp)

Additional Assurances. (a) The Borrower is not on the Closing Date the owner of, nor has it any interest in, any property or asset which, immediately upon the satisfaction of the conditions precedent to the effectiveness of the credit facility contemplated hereby (Article 4) will be not be subject to a perfected security interest in favor of the Lender (subject only to those Encumbrances (if any) described on EXHIBIT 5- 5-5, annexed heretohereto as amended) to secure the Liabilities. (b) The Borrower will not hereafter after the Closing Date acquire any asset or any interest in property which is not, immediately upon reasonably promptly following such acquisition, subject to such a perfected security interest in favor of the Lender to secure the Liabilities (subject only to Encumbrances (if any) permitted pursuant to Section 5-5, above, as may be amended from time to time). (c) The Borrower shall execute and deliver to the Lender on a timely basis such instruments, documents, and papers, and shall do all such things from time to time hereafter as the Lender may request to carry into effect the provisions and intent of this Agreement; to protect and perfect the Lender's security interests in the Collateral; and to comply with all applicable statutes and laws, and facilitate the collection of the any Receivables Collateral. The Borrower shall execute all such instruments as may be required by the Lender with respect to the recordation and/or perfection of the security interests created herein. (d) A carbon, photographic, or other reproduction of this Agreement or of any financing statement or other instrument executed pursuant to this Section 5-23 shall be sufficient for filing to perfect the security interests granted herein.

Appears in 1 contract

Sources: Revolving Credit Agreement (Right Start Inc /Ca)

Additional Assurances. (a) The No Borrower is not the owner of, nor has it any interest in, any property or asset which, immediately upon the satisfaction of the conditions precedent to the effectiveness of the credit facility contemplated hereby (Article 4) will be not be subject to a perfected security interest in favor of the Lender (to secure the Liabilities except for the Richfield Account, motor vehicles and Capital Leases identified on EXHIBITS 2-1(c) and 5-6 and subject only to those Encumbrances (if any) described on EXHIBIT 5- 5-5, annexed hereto) to secure the Liabilities. (b) The Borrower Borrowers will not hereafter acquire any asset or any interest in property which is not, immediately upon such acquisition, subject to such a perfected security interest in favor of the Lender to secure the Liabilities (except for the acquisition of equipment subject to future Capital Lease entered into in accordance with Section 5-6 hereof subject only to Encumbrances (if any) permitted pursuant to Section 5-5, above). (c) The Borrower Borrowers shall execute and deliver to the Lender such instruments, documents, and papers, and shall do all such things from time to time hereafter as the Lender may request to carry into effect the provisions and intent of this Agreement; to protect and perfect the Lender's ’s security interests in the Collateral; and to comply with all applicable statutes and laws, and facilitate the collection of the any Receivables Collateral. The Borrower Borrowers shall execute all such instruments as may be required by the Lender with respect to the recordation and/or perfection of the security interests created herein. (d) A carbon, photographic, or other reproduction of this Agreement or of any financing statement or other instrument executed pursuant to this Section 5-23 shall be sufficient for filing to perfect the security interests granted herein.

Appears in 1 contract

Sources: Loan and Security Agreement (Paper Warehouse Inc)

Additional Assurances. (a) The Borrower is not the owner of, nor has it any interest in, any property or asset which, immediately upon the satisfaction of the conditions precedent to the effectiveness of the credit facility contemplated hereby (Article 4) will be not be subject to a perfected security interest in favor of the Lender (subject only to those Encumbrances (if any) described on EXHIBIT 5- 5-5, annexed hereto) to secure the Liabilities. (b) The Borrower will not hereafter acquire any asset or any interest in property which is not, immediately upon such acquisition, subject to such a perfected security interest in favor of the Lender to secure the Liabilities (subject only to Encumbrances (if any) permitted pursuant to Section 5-5, . above). (c) The Borrower shall execute and deliver to the Lender such instruments, documents, and papers, and shall do all such things from time to time hereafter as the Lender may request to carry into effect the provisions and intent of this Agreement; to protect and perfect the Lender's security interests in the Collateral; and to comply with all applicable statutes and laws, and facilitate the collection of the Receivables Collateral. The Borrower shall execute all such instruments as may be required by the Lender with respect to the recordation and/or perfection of the security interests created herein. (d) A carbon, photographic, or other reproduction of this Agreement or of any financing statement or other instrument executed pursuant to this Section 5-23 shall be sufficient for filing to perfect the security interests granted herein.

Appears in 1 contract

Sources: Loan and Security Agreement (Sunbelt Nursery Group Inc)

Additional Assurances. (a) The Borrower is not the owner of, nor has it any interest in, any property or asset which, immediately upon the satisfaction of the conditions precedent to the effectiveness of the credit facility contemplated hereby (Article 4) will be not be subject to a perfected security interest in favor of the Lender (subject only to those Encumbrances (if any) described on EXHIBIT 5- 5-5, annexed hereto) to secure the Liabilities. (b) The Borrower will not hereafter acquire any asset or any interest in property which is not, immediately upon such acquisition, subject to such a perfected security interest in favor of the Lender to secure the Liabilities (subject only to Encumbrances (if any) permitted pursuant to Section 5-5, above). (c) The Borrower shall execute and deliver to the Lender such instruments, documents, and papers, and shall do all such things from time to time hereafter as the Lender may request to carry into effect the provisions and intent of this Agreement; to protect and perfect the Lender's security interests in the Collateral; and to comply with all applicable statutes and laws, and facilitate the collection of the Receivables Collateral. The Borrower shall execute all such instruments as may be required by the Lender with respect to the recordation and/or perfection of the security interests created herein. (d) A carbon, photographic, or other reproduction of this Agreement or of any financing statement or other instrument executed pursuant to this Section 5-23 shall be sufficient for filing to perfect the security interests granted herein.

Appears in 1 contract

Sources: Loan and Security Agreement (Harvey Electronics Inc)

Additional Assurances. (a) The Borrower is Except as set forth in Exhibit 4.25, the Borrowers and Guarantors are not the owner of, nor has it have they any interest in, any property or asset whichmaterial or necessary to their business, which immediately upon the satisfaction of the conditions precedent to the effectiveness of the credit facility contemplated hereby (Article 43) will be not be subject to a perfected security interest or other collateral interest in favor of the Lender Agent (subject only to those Encumbrances (if any) described on EXHIBIT 5- 5, annexed heretoPermitted Encumbrances) to secure the Liabilities.. 108 (b) The Borrower Borrowers and Guarantors will not hereafter acquire any asset or any interest in personal property which (if a security interest in such asset or interest may be perfected by filing under Article 9 of the UCC), is not, immediately upon such acquisition, subject to such a perfected security or other collateral interest in favor of the Lender Agent to secure the Liabilities (subject only to Encumbrances (if any) permitted pursuant to Section 5-5, abovePermitted Encumbrances). (c) The Borrower Borrowers and Guarantors shall execute and deliver to the Lender Agent such instruments, documents, and papers, and shall do all such things from time to time hereafter as the Lender Agent may request reasonably request: to carry into effect the provisions and intent of this Agreement; to protect and perfect the LenderAgent's security interests in the Collateral; and to comply with all applicable statutes and laws, ; and to facilitate the collection of the Receivables Collateral. The Borrower Borrowers and Guarantors shall execute all such instruments as may be reasonably required by the Lender Agent with respect to the recordation and/or perfection of the security interests created herein. (d) The Borrowers and Guarantors hereby designate the Agent as and for the Borrowers' and Guarantors true and lawful attorney, with full power of substitution, to sign and file, where permitted by law any financing statements in order to perfect or protect the Agent's security interest and other collateral interests in the Collateral. (e) A carbon, photographic, or other reproduction of this Agreement or of any financing statement or other instrument executed pursuant to this Section 5-23 4.25 shall be sufficient for filing to perfect the security interests granted herein, where permitted by law.

Appears in 1 contract

Sources: Loan and Security Agreement (Lechters Inc)

Additional Assurances. (a) The Borrower is not the owner of, nor has it any interest in, any property or asset which, immediately upon the satisfaction of the conditions precedent to the effectiveness of the credit facility contemplated hereby (Article 4) will be not be subject to a perfected security interest in favor of the Lender (subject only to those Encumbrances (if any) described on EXHIBIT 5- 5-5, annexed hereto) to secure the Liabilities. (b) The Borrower will not hereafter acquire any asset or any interest in property which is not, immediately upon such acquisition, subject to such a perfected security interest in favor of the Lender to secure the Liabilities (subject only to Encumbrances (if any) permitted pursuant to Section 5-5, above). (c) The Borrower shall execute and deliver to the Lender such instruments, documents, and papers, and shall do all such things from time to time hereafter as the Lender may request to carry into effect the provisions and intent of this Agreement; to protect and perfect the Lender's security interests in the Collateral; and to comply with all applicable statutes and laws, and facilitate the collection of the any Receivables Collateral. The Borrower shall execute all such instruments as may be required by the Lender with respect to the recordation and/or perfection of the security interests created herein. (d) A carbon, photographic, or other reproduction of this Agreement or of any financing statement or other instrument executed pursuant to this Section 5-23 shall be sufficient for filing to perfect the security interests granted herein.

Appears in 1 contract

Sources: Loan and Security Agreement (White House Inc/Md)

Additional Assurances. (a) The No Principal Borrower is not the owner of, nor has it any interest in, any property or asset which, immediately upon the satisfaction of the conditions precedent to the effectiveness of the credit facility loan arrangement contemplated hereby (Article 4) 5), will be not be subject to a perfected security interest in favor of the Lender (subject only to those Encumbrances (if any) described on EXHIBIT 5- 56-6, annexed heretohereto or to the extent prohibited by law) to secure the Liabilities. (b) The Borrower Obligations and will not hereafter acquire any asset or any interest in property which is not, immediately upon such acquisition, subject to such a perfected security interest in favor of the Lender to secure the Liabilities Obligations (subject only to Encumbrances (if any) permitted pursuant to Section 56-56, above). (cb) The Each Principal Borrower shall execute and deliver to the Lender such instruments, documents, and papers, and shall do all such things from time to time hereafter as the Lender may reasonably request to carry into effect the provisions and intent of this Agreement; to protect and perfect the Lender's security interests interest in the Collateral; and to comply with all applicable statutes and laws, and facilitate the collection of the Receivables Collateral. The Each Principal Borrower shall execute all such instruments as may be required by the Lender with respect to the recordation and/or perfection of the security interests created herein. (d) . A carbon, photographic, or other reproduction of this Agreement or of any financing statement or other instrument executed pursuant to this Section 5-23 shall be sufficient for filing to perfect the security interests granted herein.

Appears in 1 contract

Sources: Loan and Security Agreement (Polymedica Corp)

Additional Assurances. (a) The Borrower is and the GTS Consolidated Group are not the owner owners of, nor has it have they any interest in, any property or asset which, immediately upon the satisfaction of the conditions precedent to the effectiveness of the credit facility contemplated hereby (Article 4) will be not be subject to a perfected security interest in favor of the Lender (subject only to those Encumbrances (if any) described on EXHIBIT 5- 5-5, annexed hereto) to secure the Liabilities. (b) The Borrower will and the GTS Consolidated Group shall not hereafter acquire any asset or any interest in property which is not, immediately upon such acquisition, subject to such a perfected security interest in favor of the Lender to secure the Liabilities (subject only to Encumbrances (if any) permitted pursuant to Section 5-5, above). (c) The Borrower and the GTS Consolidated Group shall execute and deliver to the Lender such instruments, documents, and papers, and shall do all such things from time to time hereafter as the Lender may reasonably request to carry into effect the provisions and intent of this Agreement; to protect and perfect the Lender's security interests in the Collateral; and to comply with all applicable statutes and laws, and facilitate the collection of the Receivables Collateral. The Borrower and the GTS Consolidated Group shall execute all such instruments as may be reasonably required by the Lender with respect to the recordation and/or perfection of the security interests created herein. (d) A carbon, photographic, or other reproduction of this Agreement or of any financing statement or other instrument executed pursuant to this Section 5-23 shall be sufficient for filing to perfect the security interests granted herein.

Appears in 1 contract

Sources: Loan and Security Agreement (Great Train Store Co)

Additional Assurances. (a) The Borrower is not the owner of, nor has it any interest in, any property or asset of a type which is included in the description of "Collateral" which, immediately upon the satisfaction of the conditions precedent to the effectiveness of the credit facility contemplated hereby (Article 43) will be not be subject to a perfected security interest in favor of the Lender Agent (subject only to those Encumbrances (if any) described on EXHIBIT 5- 5, annexed heretoPermitted Encumbrances) to secure the Liabilities. (b) The Borrower will not hereafter acquire any asset or any interest in property of a type which is included in the description of "Collateral" which is not, immediately upon such acquisition, subject to such a perfected security interest in favor of the Lender Agent to secure the Liabilities (subject only to Encumbrances (if any) permitted pursuant to Section 5-5, abovePermitted Encumbrances). (c) The Borrower shall execute and deliver to the Lender Agent such instruments, documents, and papers, and shall do all such things from time to time hereafter as the Lender Agent may reasonably request to carry into effect the provisions and intent of this Agreement; to protect and perfect the LenderAgent's security interests in the CollateralCollateral as the Agent may reasonably request; and to comply with all applicable statutes and lawslaws as required by this Agreement, and facilitate the collection of the Receivables Collateral. The Borrower shall execute all such instruments as may be reasonably required by the Lender Agent with respect to the recordation and/or perfection of the security interests created herein. (d) A carbon, photographic, or other reproduction of this Agreement or of any financing statement or other instrument executed pursuant to this Section 54-23 24 shall be sufficient for filing to perfect the security interests granted herein.

Appears in 1 contract

Sources: Loan and Security Agreement (CSS Trade Names Inc)

Additional Assurances. (a) The Borrower is Except as set forth in Exhibit 4.25, the Borrowers are not the owner of, nor has it have they any interest in, any property or asset whichmaterial or necessary to their business, which immediately upon the satisfaction of the conditions precedent to the effectiveness of the credit facility contemplated hereby (Article 4) will be not be subject to a perfected security interest in favor of the Lender (subject only to those Encumbrances (if any) described on EXHIBIT 5- 5, annexed hereto) to secure the Liabilities.credit (b) The Borrower Borrowers will not hereafter acquire any asset or any interest in personal property which (if a security interest in such asset or interest may be perfected by filing under Article 9 of the UCC), is not, immediately upon such acquisition, subject to such a perfected security or other collateral interest in favor of the Lender Agent to secure the Liabilities (subject only to Encumbrances (if any) permitted pursuant to Section 5-5, abovePermitted Encumbrances). (c) The Borrower Borrowers shall execute and deliver to the Lender Agent such instruments, documents, and papers, and shall do all such things from time to time hereafter as the Lender Agent may request reasonably request: to carry into effect the provisions and intent of this Agreement; to protect and perfect the LenderAgent's security interests in the Collateral; and to comply with all applicable statutes and laws, ; and to facilitate the collection of the Receivables Collateral. The Borrower Borrowers shall execute all such instruments as may be reasonably required by the Lender Agent with respect to the recordation and/or perfection of the security interests created herein. (d) The Borrowers hereby designate the Agent as and for the Borrowers' true and lawful attorney, with full power of substitution, to sign and file, where permitted by law any financing statements in order to perfect or protect the Agent's security and other collateral interests in the Collateral. (e) A carbon, photographic, or other reproduction of this Agreement or of any financing statement or other instrument executed pursuant to this Section 5-23 4.25 shall be sufficient for filing to perfect the security interests granted herein, where permitted by law.

Appears in 1 contract

Sources: Loan and Security Agreement (Lechters Inc)

Additional Assurances. (a) The Borrower is not the owner of, nor has it any interest in, any property or asset which, immediately upon the satisfaction of the conditions precedent to the effectiveness of the credit facility loan arrangement contemplated hereby (Article 4) ), will be not be subject to a perfected security interest in favor of the Lender (subject only to those Encumbrances (if any) described on EXHIBIT 5- 56, annexed hereto) to secure the Liabilities. (b) The Borrower Liabilities and will not hereafter acquire any asset or any interest in property which is not, immediately upon such acquisition, subject to such a perfected security interest in favor of the Lender to secure the Liabilities (subject only to Encumbrances (if any) permitted pursuant to Section 5-56, above). (cb) The Borrower shall execute and deliver to the Lender such instruments, documents, and papers, and shall do all such things from time to time hereafter as the Lender may request to carry into effect the provisions and intent of this Agreement; to protect and perfect the Lender's security interests interest in the Collateral; and to comply with all applicable statutes and laws, ; and facilitate the collection of the Receivables Collateral. The Borrower shall execute all such instruments as may be required by the Lender with respect to the recordation and/or perfection of the security interests created herein. (d) . A carbon, photographic, or other reproduction of this Agreement or of any financing statement or other instrument executed pursuant to this Section 5-23 shall be sufficient for filing to perfect the security interests granted herein.

Appears in 1 contract

Sources: Loan and Security Agreement (Seachange International Inc)