Common use of Collateral Access Agreement Clause in Contracts

Collateral Access Agreement. From and after the Restatement Date, in the event that (i) Parent, Borrower or any Subsidiary Guarantor acquires any Leasehold Property or (ii) at the time any Person becomes a Subsidiary Guarantor, such Person owns or holds any Leasehold Property, in either case, (x) that is not a Material Real Property and (y) where Parent, Borrower or any such Subsidiary Guarantor holds on a regular basis at such Leasehold Property, personal property with a fair market value in excess of (or Parent, Borrower or such Subsidiary Guarantor anticipates that the fair market value of such personal property held on a regular basis will, at any time during the term of such lease, equal to or exceed) $7,500,000, Parent, Borrower or such Subsidiary Guarantor, as the case may be, shall use its respective commercially reasonable efforts to deliver to Administrative Agent, as soon as practicable after such Person acquires such Leasehold Property or becomes a Subsidiary Guarantor, as the case may be, a fully executed Collateral Access Agreement.

Collateral Access Agreement. From and after the Restatement Closing Date, in the event that (i) Parent, Borrower or any Subsidiary Guarantor acquires any Leasehold Property or (ii) at the time any Person becomes a Subsidiary Guarantor, such Person owns or holds any Leasehold Property, in either case, (x) that is not a Material Real Property and (y) where Parent, Borrower or any such Subsidiary Guarantor holds on a regular basis at such Leasehold Property, personal property with a fair market value in excess of (or Parent, Borrower or such Subsidiary Guarantor anticipates that the fair market value of such personal property held on a regular basis will, at any time during the term of such lease, equal to or exceed) $7,500,0005,000,000, Parent, Borrower or such Subsidiary Guarantor, as the case may be, shall use its respective commercially reasonable efforts to deliver to Administrative Agent, as soon as practicable after such Person acquires such Leasehold Property or becomes a Subsidiary Guarantor, as the case may be, a fully executed Collateral Access Agreement.