Common use of Additional Secured Obligations Clause in Contracts

Additional Secured Obligations. On or after the date hereof, the Issuers may from time to time designate additional Obligations as additional Secured Obligations hereunder (the “Additional Secured Obligations”) by delivering to the Collateral Agent (a) a certificate signed by the chief financial officer of the Issuers (i) identifying the obligations so designated and the aggregate principal amount or face amount thereof, stating that such obligations are designated as Additional Secured Obligations for purposes hereof, (ii) representing that such designation of such obligations as Additional Secured Obligations complies with the terms of the Indenture and (iii) specifying the name and address of the Authorized Representative for such obligations, and (b) a fully executed Additional Secured Creditor Joinder (in the form attached as Schedule “B”). Each Authorized Representative agrees that upon the satisfaction of all conditions set forth in the preceding sentence, the Collateral Agent shall act as agent under and subject to the terms of this Debenture for the benefit of all Secured Creditors, including any Additional Secured Creditors that hold any such Additional Secured Obligations, and each Authorized Representative agrees to the appointment, and acceptance of the appointment, of the Collateral Agent as agent for the holders of such Additional Secured Obligations as set forth in the Additional Secured Creditor Joinder, and the Authorized Representative providing such Additional Secured Creditor Joinder shall, on behalf of itself and each Additional Secured Creditor it represents, be bound by this

Appears in 1 contract

Sources: Demand Debenture (Johnstone Tank Trucking Ltd.)

Additional Secured Obligations. On or after the date hereofIssue Date and so long as permitted by the Indenture, the Issuers Company may from time to time designate additional Obligations of the Company or any Guarantor permitted to be Incurred under the Indenture and to be secured by a Lien on the Collateral as additional Secured Obligations hereunder (the “Additional Secured Obligations”) by delivering to the Collateral Agent and each Authorized Representative (a) a certificate signed by the chief financial officer an Authorized Officer of the Issuers Company (i) identifying the obligations so designated and the aggregate principal amount or face amount thereof, stating that such obligations are designated as Additional Secured Obligations for purposes hereof, (ii) representing that such designation of such obligations as Additional Secured Obligations complies with the terms of the Indenture Documents and the applicable Additional Secured Debt Documents and (iii) specifying the name and address of the Authorized Representative for such obligations, and (b) a fully executed Additional Secured Creditor Joinder Party Consent (in the form attached as Schedule Annex B); and (c) an Opinion of Counsel to the effect that the designation of such obligations as B”)Additional Secured Obligations” is in compliance with the terms of the Indenture and the Notes. Each Authorized Representative agrees that upon the satisfaction of all conditions set forth in the preceding sentence, the Collateral Agent shall act as agent under and subject to the terms of this Debenture Agreement for the benefit of all Secured CreditorsParties, including without limitation, any Additional Secured Creditors Parties that hold any such Additional Secured Obligations, and each Authorized Representative agrees to the appointment, and acceptance of the appointment, of the Collateral Agent as agent for the holders of such Additional Secured Obligations as set forth in the each Additional Secured Creditor Joinder, Party Consent and the Authorized Representative providing such Additional Secured Creditor Joinder shallagrees, on behalf of itself and each Additional Secured Creditor Party it represents, to be bound by thisthis Agreement.

Appears in 1 contract

Sources: Pledge Agreement (Hca Inc/Tn)

Additional Secured Obligations. On or after the date hereofIssue Date and so long as permitted by the Indenture, the Issuers Company may from time to time designate additional Obligations of the Company or any Guarantor permitted to be Incurred under the Indenture and to be secured by a Lien on the Collateral as additional Secured Obligations hereunder (the “Additional Secured Obligations”) by delivering to the Collateral Agent and each Authorized Representative (a) a certificate signed by the chief financial officer an Authorized Officer of the Issuers Company (i) identifying the obligations so designated and the aggregate principal amount or face amount thereof, stating that such obligations are designated as Additional Secured Obligations for purposes hereof, (ii) representing that such designation of such obligations as Additional Secured Obligations complies with the terms of the Indenture Documents and the applicable Additional Secured Debt Documents and (iii) specifying the name and address of the Authorized Representative for such obligations, and (b) a fully executed Additional Secured Creditor Joinder Party Consent (in the form attached as Schedule Annex C); and (c) an Opinion of Counsel to the effect that the designation of such obligations as B”)Additional Secured Obligations” is in compliance with the terms of the Indenture and the Notes. Each Authorized Representative agrees that upon the satisfaction of all conditions set forth in the preceding sentence, the Collateral Agent shall act as agent under and subject to the terms of this Debenture Agreement for the benefit of all Secured CreditorsParties, including without limitation, any Additional Secured Creditors Parties that hold any such Additional Secured Obligations, and each Authorized Representative agrees to the appointment, and acceptance of the appointment, of the Collateral Agent as agent for the holders of such Additional Secured Obligations as set forth in the each Additional Secured Creditor Joinder, Party Consent and the Authorized Representative providing such Additional Secured Creditor Joinder shallagrees, on behalf of itself and each Additional Secured Creditor Party it represents, to be bound by thisthis Agreement.

Appears in 1 contract

Sources: Security Agreement (Hca Inc/Tn)

Additional Secured Obligations. On or after After the date hereof, the Issuers QSC may from time to time time, designate any other obligation as: (a) an Additional Senior Secured Obligation for purposes hereof (any such additional Obligations as additional secured obligation, an "Additional Senior Secured Obligations hereunder (the “Additional Secured Obligations”Obligation") by delivering to the Collateral Agent (awith a copy to the Senior Collateral Agent): (A) a certificate signed by the chief financial officer or chief accounting officer of the Issuers QSC (i) identifying the obligations obligation so designated and the aggregate principal amount or face amount thereof, stating that such obligations are obligation is designated as an Additional Senior Secured Obligations Obligation for purposes hereof, (ii) representing that stating whether such designation of Additional Senior Secured Obligation is to be secured by the Transaction Liens granted for such obligations as purpose under this Agreement or by Liens granted pursuant to a separate Secured Agreement, (iii) stating whether such Additional Senior Secured Obligations complies with the terms are secured by all or a portion of the Indenture and Collateral and, if a portion, which portion, (iiiiv) specifying the name and address of the Authorized Representative for holder of such obligationsobligation or of a trustee, and (b) a fully executed Additional Secured Creditor Joinder (in the form attached as Schedule “B”). Each Authorized Representative agrees that upon the satisfaction of all conditions set forth in the preceding sentence, the Collateral Agent shall act as agent under and subject or similar representative designated to the terms of this Debenture for the benefit of all Secured Creditors, including any Additional Secured Creditors that hold any supply information with respect to such Additional Senior Secured Obligations, and each Authorized Representative agrees Obligation to the appointment, and acceptance of the appointment, of the Collateral Agent as contemplated by Section 16(f); and (iv) representing that, (w) all of the designated Additional Senior Secured Obligations constitute "Senior Debt" as defined in the Indenture, (x) the Liens granted to secure such Additional Senior Secured Obligations are "Permitted Collateral Liens" pursuant to clause (1) of the definition thereof in the Indenture and are permitted under all other Secured Agreements; (y) it has delivered any required notice to the Senior Collateral Agent, the QSC Notes Trustee and the Existing 2008 Notes Trustee of such obligations or Liens, and (z) until such time as the Senior Release Conditions are satisfied, (1) such obligation is permitted under both the Revolver Credit Agreement and the Term Credit Agreement, and (2) the Lien securing such obligation is permitted by both the Revolver Credit Agreement and the Term Credit Agreement, (B) until the Senior Release Conditions have been satisfied, to the extent such Additional Senior Secured Obligation is to be secured by Liens granted under Secured Agreements other than this Agreement, evidence reasonably satisfactory to the Collateral Agent that QSC has obtained any required approval by the "Agent" under (and as defined in) the Revolver Credit Agreement and the Term Credit Agreement of the terms of such Secured Agreements rendering the Liens granted therein junior and subordinate to the Liens granted by the Senior Security Agreement, and (C) if such Additional Senior Secured Obligations are to be secured by the Transaction Liens granted for such purpose under this Agreement, an Additional Secured Party Consent, executed by the holder of such obligation, and otherwise, a copy of any Secured Agreement granting a Lien on any of the Collateral in favor of such designated Additional Senior Secured Obligations; provided that, no obligation of QSC shall be an Additional Senior Secured Obligation unless (a) such obligation constitutes "Senior Debt" under the Indenture and is permitted by any other Secured Agreements, and, until the Senior Release Conditions are satisfied, both the Revolver Credit Agreement and the Term Credit Agreement, (b) the Liens securing such obligation are "Permitted Collateral Liens" pursuant to the Indenture and are not prohibited by (i) any other Secured Agreements or (ii) until the Senior Release Conditions are satisfied, the Revolver Credit Agreement or the Term Credit Agreement; and (b) an Additional Pari Passu Secured Obligation for purposes hereof (any such additional secured obligation, an "Additional Pari Passu Secured Obligation") by delivering to the Collateral Agent (with a copy to the Senior Collateral Agent): (A) a certificate signed by the chief financial officer or chief accounting officer of QSC (i) identifying the obligation so designated and the aggregate principal or face amount thereof, stating that such obligation is designated as an Additional Pari Passu Secured Obligation for purposes hereof, (ii) stating whether such Additional Pari Passu Secured Obligation is to be secured by the Transaction Liens granted for such purpose under this Agreement or by Liens granted pursuant to a separate Secured Agreement, (iii) stating whether such Additional Pari Passu Secured Obligations are secured by all or a portion of the Collateral and, if a portion, which portion, (iv) specifying the name and address of the holder of such obligation or of a trustee, agent for the holders of or similar representative designated to supply information with respect to such Additional Secured Obligation to the Collateral Agent as contemplated by Section 16(f); and (v) representing that, (w) all designated Additional Pari Passu Secured Obligations as set forth constitute obligations described in the definition of "Permitted Equal Liens" in the Indenture, (x) the Liens granted to secure all Additional Pari Passu Secured Obligations are "Permitted Equal Liens" under the Indenture and are permitted under any other Secured Agreements; (y) it has delivered any required notice to the Senior Collateral Agent, the QSC Notes Trustee and the Existing 2008 Notes Trustee of such obligations or Lien, and (z) until such time as the Senior Release Conditions are satisfied, (1) such obligation is permitted under both the Revolver Credit Agreement and the Term Credit Agreement, and (2) the Lien securing such obligation is permitted by the Revolver Credit Agreement and the Term Credit Agreement, (B) until the Senior Release Conditions have been satisfied, to the extent such Additional Pari Passu Secured Obligation is to be secured by Liens granted under Secured Agreements other than this Agreement, evidence reasonably satisfactory to the Collateral Agent that QSC has obtained any required approval by the "Agent" under (and as defined in) the Revolver Credit Agreement and the Term Credit Agreement of the terms of such Secured Agreements rendering the Liens granted therein junior and subordinate to the Liens granted by the Senior Security Agreement, and (C) if such Additional Pari Passu Secured Obligations are to be secured by the Transaction Liens granted for such purpose under this Agreement, an Additional Secured Creditor JoinderParty Consent, executed by the holder of such obligation, and otherwise, a copy of any Secured Agreement granting a Lien on any of the Authorized Representative providing Collateral in favor of such designated Additional Pari Passu Secured Creditor Joinder shallObligations; provided that, on behalf no obligation of itself QSC shall be an Additional Pari Passu Secured Obligation unless (a) such obligation constitutes an obligation described in the definition of "Permitted Equal Liens" in the Indenture and each is permitted under any other Secured Agreements, and until the Senior Release Conditions are satisfied, both the Revolver Credit Agreement and the Term Credit Agreement, (b) the Lien securing such obligation is a Permitted Equal Lien under the Indenture and is not prohibited under (i) any other Secured Agreements or (ii) until the Senior Release Conditions are satisfied, the Revolver Credit Agreement or the Term Credit Agreement. (c) At any time, QSC may terminate its ability to designate Additional Senior Secured Creditor it representsObligations and/or Additional Pari Passu Secured Obligations by delivery of written notice thereof to the Collateral Agent and Senior Collateral Agent (provided, be bound that, such termination shall not affect any Additional Senior Secured Obligations or Additional Pari Passu Secured Obligations previously designated by thisQSC).

Appears in 1 contract

Sources: Security and Pledge Agreement (Qwest Capital Funding Inc)