Common use of Additional Loan Parties Clause in Contracts

Additional Loan Parties. To the extent required by Section 5.12 of the Credit Agreement, if any additional Subsidiary is formed or acquired after the Effective Date, such Subsidiary shall enter in this Agreement as a Subsidiary Party upon becoming such a Subsidiary. Upon execution and delivery by the Administrative Agent and a Subsidiary of an agreement in the form of Exhibit I hereto or such other form reasonably acceptable to the Administrative Agent, such Subsidiary shall become a Subsidiary Party hereunder with the same force and effect as if originally named as a Subsidiary Party herein. The execution and delivery of any such agreement shall not require the consent of any other Loan Party hereunder. The rights and obligations of each Loan Party hereunder shall remain in full force and effect notwithstanding the addition of any new Loan Party as a party to this Agreement.

Appears in 3 contracts

Sources: First Lien Guarantee and Collateral Agreement, Second Lien Guarantee and Collateral Agreement (Jda Software Group Inc), First Lien Guarantee and Collateral Agreement (Jda Software Group Inc)

Additional Loan Parties. To the extent required by to Section 5.12 of the Credit Agreement, if any additional Subsidiary is formed or acquired after the Effective DateDate of the Credit Agreement, such Subsidiary shall is required to enter in this Agreement as a Subsidiary Party upon becoming such a Subsidiary. Upon execution and delivery by the Administrative Agent and a Subsidiary of an agreement instrument in the form of Exhibit I hereto or such other form reasonably acceptable to the Administrative Agent, such Subsidiary shall become a Subsidiary Party hereunder with the same force and effect as if originally named as a Subsidiary Party herein. The execution and delivery of any such agreement instrument shall not require the consent of any other Loan Party hereunder. The rights and obligations of each Loan Party hereunder shall remain in full force and effect notwithstanding the addition of any new Loan Party as a party to this Agreement.

Appears in 2 contracts

Sources: Second Lien Guarantee and Collateral Agreement (RedPrairie Holding, Inc.), Guarantee and Collateral Agreement (RedPrairie Holding, Inc.)