Common use of Certain After-Acquired Collateral Clause in Contracts

Certain After-Acquired Collateral. Obligor shall promptly (a) notify Agent if a Obligor obtains an interest in any Deposit Account, Chattel Paper, Document, Instrument, Intellectual Property, Investment Property or Letter-of-Credit Rights, and (b) upon request, take such actions as Agent deems appropriate to effect its perfected, first priority Lien on such Collateral, including obtaining any appropriate possession, control agreement or Lien Waiver. If Collateral is in the possession of a third party, at Agent’s request, Obligor shall obtain an acknowledgment that such third party holds the Collateral for the benefit of Agent.

Appears in 3 contracts

Sources: Loan and Security Agreement (Super Micro Computer, Inc.), Loan and Security Agreement (Super Micro Computer, Inc.), Loan and Security Agreement (Super Micro Computer, Inc.)

Certain After-Acquired Collateral. Obligor Obligors shall promptly notify Agent in writing if, after the Closing Date, any Obligor obtains any interest in any Collateral consisting of (a) notify Agent if a Obligor obtains an interest in any Deposit Account, Chattel Paper, DocumentDocuments, Instrument, Intellectual PropertyInstruments, Investment Property or and Letter-of-Credit RightsRights with a value in excess of $500,000, and or (b) consisting of any Deposit Accounts, Securities Account or other Investment Property and, upon Agent’s request, shall promptly take such actions as Agent deems appropriate to effect its Agent’s duly perfected, first priority Lien on upon such Collateral, including obtaining any appropriate possession, control agreement or Lien Waiver. If any Collateral is in the possession of a third party, at Agent’s request, Obligor Obligors shall obtain an acknowledgment that such third party holds the Collateral for the benefit of Agent.

Appears in 3 contracts

Sources: Credit Agreement (Covenant Logistics Group, Inc.), Credit Agreement (Covenant Transportation Group Inc), Credit Agreement (Covenant Transportation Group Inc)

Certain After-Acquired Collateral. Obligor Obligors shall promptly (a) notify Agent if on a Obligor obtains an quarterly basis of any new interest in any Deposit Account, Chattel Paper, Document, Instrument, Intellectual Property, Investment Property or Letter-of-Credit RightsRight, and (b) upon request, take such actions as Agent deems appropriate to effect its perfected, first priority Lien on such the Collateral, including obtaining any appropriate possession, control agreement or Lien Waiver. If Collateral is in the possession of a third party, at Agent’s request, Obligor Obligors shall obtain an acknowledgment (in form and substance satisfactory to Agent) from such party that such third party it holds the Collateral for the benefit of Agent.

Appears in 2 contracts

Sources: Loan, Guaranty and Security Agreement (BIG 5 SPORTING GOODS Corp), Loan Agreement (BIG 5 SPORTING GOODS Corp)

Certain After-Acquired Collateral. Obligor Borrowers shall promptly (a) notify Agent if a Obligor Borrower obtains an interest in any Deposit Account, Chattel Paper, Document, Instrument, Intellectual Property, Investment Property or Letter-of-Credit Rights, and (b) upon request, take such actions as Agent deems appropriate to effect its perfected, first priority Lien on such Collateral, including obtaining any appropriate possession, control agreement or Lien Waiver. If Collateral is in the possession of a third party, at Agent’s request, Obligor Borrowers shall obtain an acknowledgment that such third party holds the Collateral for the benefit of Agent.

Appears in 1 contract

Sources: Loan and Security Agreement (Mynd.ai, Inc.)

Certain After-Acquired Collateral. Obligor Obligors shall promptly (a) promptly notify Agent if a an Obligor obtains an interest in any Deposit Account, Chattel Paper, Document, Instrument, Intellectual Property, Investment Property or Letter-of-Credit RightsRight, and (b) upon request, take such actions as Agent deems appropriate to effect its perfected, first priority Lien on such the Collateral, including obtaining any appropriate possession, control agreement or Lien Waiver. If Collateral is in the possession of a third party, at Agent’s request, Obligor Obligors shall obtain an acknowledgment from such party that such third party it holds the Collateral for the benefit of Agent.

Appears in 1 contract

Sources: Loan Agreement (Key Tronic Corp)

Certain After-Acquired Collateral. Obligor Obligors shall promptly (a) promptly notify Agent if a an Obligor obtains an interest in any Deposit Account, Securities Account, Chattel Paper, Document, Instrument, Intellectual Property, Investment Property or Letter-of-Credit RightsRight, and (b) upon request, each Obligor shall take such actions as Agent deems appropriate to effect its perfected, first priority Lien (other than with respect to the Lien of the Revolving Agent to the extent set forth in the Intercreditor Agreement) on such the Collateral, including obtaining any appropriate possession, control agreement Control Agreement or Lien Waiver. If Collateral is in the possession of a third party, at Agent’s request, each applicable Obligor shall obtain an acknowledgment (in form and substance satisfactory to Agent) from such party that such third party it holds the Collateral for the benefit of Agent.

Appears in 1 contract

Sources: Loan and Security Agreement (Commercial Vehicle Group, Inc.)