Common use of New Subsidiary Clause in Contracts

New Subsidiary. Upon the formation or acquisition of any new Subsidiary, the Borrower shall cause such Subsidiary to promptly execute and deliver to the Subordinated Agent any joinder agreements requested by the Subordinated Agent to cause such new Subsidiary to become a party to a Guaranty and any security agreements, pledge agreements, mortgages, and other agreements requested by the Subordinated Agent to cause such new Subsidiary to pledge its assets to the Subordinated Agent for the benefit of the Subordinated Lenders. In connection therewith, the Borrower shall provide corporate documentation and opinion letters reasonably satisfactory to the Subordinated Agent reflecting the corporate status of such new Subsidiary of the Borrower and the enforceability of such agreements.