Collateral and Guaranties Sample Clauses
The "Collateral and Guaranties" clause defines the requirement for the borrower to provide assets or third-party guarantees as security for the obligations under the agreement. In practice, this means the borrower may need to pledge property, equipment, or other valuable assets, or arrange for a guarantor to back the loan, ensuring the lender has recourse if the borrower defaults. This clause primarily serves to reduce the lender's risk by providing additional sources of repayment and enhancing the likelihood of recovering funds in the event of non-payment.
Collateral and Guaranties. (a) Each of the Borrowers shall execute and deliver a Security Agreement in favor of the Lender pursuant to which all of the Obligations shall be secured by the Borrowers' grant to Lender of security interests in all present or future accounts, equipment, fixtures, contract rights, chattel paper, instruments, documents, general intangibles and all other personal property of the Borrowers. CCI and shall execute and deliver in favor of the Lender a Stock Pledge Agreement pursuant to which CCI grants to the Lender, as security for the Obligations, a first priority pledge of and security interest in all of the issued and outstanding shares of capital stock of its Subsidiaries. CCI also shall execute and deliver to the Lender stock powers in blank covering the shares pledged pursuant to the Stock Pledge Agreements, together with the certificates representing such shares, to be held by the Lender, and shall execute and/or deliver any and all financing statements and such other documents as the Lender may reasonably request from time to time in order to perfect or maintain the perfection of Lender's security interests under the Stock Pledge Agreement and the Security Agreements.
(b) In the event CCI creates or acquires any new or additional direct or indirect Subsidiary after the date hereof which does not become an additional Borrower hereunder pursuant to Section 6.10 hereof, Borrowers shall cause such new or additional Subsidiary, if and to the extent required by the Lender under Section 6.10 hereof, to become a Guarantor of the Obligations and to execute in favor of the Lender a Guaranty Agreement (in form and substance satisfactory to the Lender) covering all of the Obligations and a Security Agreement (in form and substance satisfactory to the Lender) covering the same types of Collateral as are covered by the Security Agreements executed by the Borrowers, and the Borrowers shall cause such new or additional Subsidiary to execute or deliver any and all financing statements and such other documents and shall take such other actions as the Lender may reasonably request from time to time in order to perfect or maintain the perfection of Lender's security interest under the Security Agreement executed by such new or additional Subsidiary. The Borrowers shall also, immediately upon acquisition of any such Subsidiary, cause all of the issued and outstanding capital stock of such Subsidiary to be added to the Stock Pledge Agreement and shall deliver any and all ce...
Collateral and Guaranties. (a) Grant to the Agent a first priority perfected security interest in and to all of its personal property, now owned or hereafter acquired, subject only to Permitted Liens.
(b) Within thirty (30) days after any other Person becomes a Subsidiary, (i) cause such Person to become a Guarantor by executing and delivering to the Agent a supplement to this Agreement or such other document as the Agent shall deem appropriate for such purpose, (ii) cause such Person to execute a supplement to the Security Agreement in order to become a party thereto and such other Collateral Documents as the Agent may request, in each case to secure the Obligations, (iii) deliver to the Agent documents of the types referred to in Sections 5.01(b) and (c) and a favorable opinion of counsel to such Person (which shall cover, among other things, the legality, validity, binding effect and enforceability of the documentation referred to in clauses (i) and (ii)), all in form, content and scope reasonably satisfactory to the Agent, and (iv) cause the immediate parent of such Subsidiary to pledge 100% of the Capital Stock in such Subsidiary to secure the Obligations and provide such legal opinions relating thereto as the Agent may reasonably request, along with share certificates pledged thereby and appropriately executed stock powers in blank.
Collateral and Guaranties. All Obligations shall be secured by the Collateral and guarantied by the Guaranty.
Collateral and Guaranties. Subject to Section 5.17, Holdings and the Borrower shall ensure that the Obligations shall at all times be (a) guaranteed by Holdings and each Subsidiary (other than any Excluded Subsidiary) pursuant to the terms and conditions set out in the Guaranty or in such other guarantee in form and substance reasonably acceptable to the Administrative Agent and (b) secured by a perfected, first-priority (in compliance with the terms provided for by the relevant Security Documents) Lien (except for, other than in the case of Equity Interests, Liens permitted by Section 6.02 and except for, in the case of assets consisting of Equity Interests, Permitted Equity Collateral Liens) in favor of the Collateral Agent, for the benefit of the holders of such Obligations (and any other persons permitted to be so secured by the terms of the applicable Security Documents and that are so secured thereunder) on all (i) the Equity Interests issued by the Borrower, (ii) the Equity Interests issued by each Guarantor (other than Holdings) directly held by any other Loan Party and (iii) all other tangible and intangible personal property of the Loan Parties (including accounts receivable, inventory, equipment, general intangibles (including contract rights and Management Agreements), investment property, Intellectual Property, material intercompany notes and proceeds of the foregoing), in each case excluding the Excluded Assets and subject to the Excluded Actions.
Collateral and Guaranties. Section 5.1 Security 42 Section 5.2 Title Information 43 Section 5.3 Guarantees 43 Section 5.4 Additional Guarantors 43
Collateral and Guaranties. 17 Section 4.1. Collateral................................................................... 17 Section 4.2. Guaranties................................................................... 18 Section 4.3. Further Assurances........................................................... 18 Section 4.4. Liens on Real Property....................................................... 18
Collateral and Guaranties. 20 SECTION 2.01. Collateral...............................................................................20 SECTION 2.02. Guaranty.................................................................................21 SECTION 2.03. Loan Documents...........................................................................21
Collateral and Guaranties. 7.1. Collateral Security and Guaranties 7.2. Guarantees
Collateral and Guaranties. (a) Repayment of the Note and performance of the obligations described herein shall be secured, directly or indirectly, by a first priority, perfected security interest in all of Borrower’s accounts, inventory, general intangibles and letter of credit rights (collectively, the “Collateral”).
(b) M & I Electric Industries, Inc., a Texas corporation, and each Subsidiary of Borrower (collectively, “Guarantor”) shall unconditionally guarantee payment of the Borrowing Base Facility pursuant to guaranties in form and substance acceptable to Lender.
Collateral and Guaranties. 12 Section 4.1. Collateral.............................................................. 12 Section 4.2. Collateral Proceeds..................................................... 13 Section 4.3. Guaranties.............................................................. 13 Section 4.4. Further Assurances...................................................... ▇▇ -▇-