Other Documents and Actions. Each Grantor shall (subject to the Intercreditor Agreement), upon written request by the Second Priority Collateral Agent, promptly execute, deliver, file and/or record any financing statement, notice, instrument, document, agreement or other papers that may be reasonably necessary (in the reasonable judgment of the Second Priority Collateral Agent or its Representative) to create, preserve, perfect or validate the security interest granted pursuant hereto or to enable the Second Priority Collateral Agent or its Representative to exercise and enforce the rights of the Second Priority Collateral Agent hereunder with respect to such pledge and security interest; provided, that in no event shall any control agreements be required. Notwithstanding the foregoing, each Grantor hereby irrevocably authorizes the Second Priority Collateral Agent at any time and from time to time to file in any filing office in any relevant UCC jurisdiction any initial financing statements and amendments thereto that (a) indicate the Collateral (i) as all assets (other than Excluded Assets) of such Grantor or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls within the scope of Article 9 of the UCC of the State of New York or such jurisdiction, or (ii) as being of an equal or lesser scope or with greater detail, and (b) contain any other information required by part 5 of Article 9 of the UCC of the State of New York for the sufficiency or filing office acceptance of any financing statement or amendment, including (i) whether such Grantor is an organization, the type of organization and any organization identification number issued to such Grantor, and (ii) in the case of a financing statement filed as a fixture filing or indicating Collateral as as-extracted collateral or timber to be cut, a sufficient description of real property to which the Collateral relates. Each Grantor agrees to furnish any such information to the Second Priority Collateral Agent promptly upon written request. Each Grantor also ratifies its authorization for the Second Priority Collateral Agent to have filed in any UCC jurisdiction any like initial financing statements or amendments thereto if filed prior to the date hereof. For the avoidance of doubt, it is the obligation of each Grantor to obtain, protect and preserve the perfection of lien on behalf of the Second Priority Collateral Agent and the Second Priority Collateral Agent has no obligation whatsoever to take such acts or make any filings in connection therewith.
Appears in 2 contracts
Sources: Note Purchase Agreement (Moneygram International Inc), Intercreditor Agreement (Moneygram International Inc)
Other Documents and Actions. Each Grantor shall (subject to the Intercreditor Agreement)Debtor shall, upon written the reasonable request by of the Second Priority Collateral Agent, promptly give, execute, deliver, file and/or record any financing statement, registration, notice, instrument, document, agreement or other papers that may be reasonably necessary (in the reasonable judgment of the Second Priority Collateral Agent or its Representative) to create, preserve, perfect perfect, or validate the security interest granted pursuant hereto (or any security interest or mortgage contemplated or required hereunder) or to enable the Second Priority Collateral Agent or its Representative to exercise and enforce the rights of the Second Priority Collateral Agent Secured Parties hereunder with respect to such pledge and security interest; provided, provided that (i) notices to account debtors in no event respect of any Accounts or Instruments shall any control agreements be required. subject to the provisions of clause (e) below Notwithstanding the foregoing, foregoing each Grantor Debtor hereby irrevocably authorizes the Second Priority Collateral Agent at any time and from time to time to file in any filing office in any relevant UCC jurisdiction any initial financing statements (and other similar filings or registrations under other applicable laws and regulations pertaining to the creation, attachment, or perfection of security interests) and amendments thereto that (a) indicate the Collateral (i) as all assets (other than Excluded Assets) of such Grantor Debtor or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls within the scope of Article 9 of the UCC of the State of New York or such jurisdictionUCC, or (ii) as being of an equal or lesser scope or with greater detail, and (b) contain any other information required by part 5 of Article 9 of the UCC of the State of New York for the sufficiency or filing office acceptance of any financing statement or amendment, including (i) whether such Grantor Debtor is an organization, the type of organization and any organization identification number issued to such GrantorDebtor, and (ii) in the case of a financing statement filed as a fixture filing or indicating Collateral as as-extracted collateral or timber to be cutfiling, a sufficient description of real property to which the Collateral relates. Each Grantor Debtor agrees to furnish any such information to the Second Priority Collateral Agent promptly upon written request. Each Grantor Debtor also ratifies its authorization for the Second Priority Collateral Agent to have filed in any UCC jurisdiction any like initial financing statements or amendments thereto if filed prior to the date hereof. For the avoidance of doubt, it is the obligation of each Grantor to obtain, protect and preserve the perfection of lien on behalf of the Second Priority Collateral Agent and the Second Priority Collateral Agent has no obligation whatsoever to take such acts or make any filings in connection therewith.
Appears in 2 contracts
Sources: Security Agreement (Mitesco, Inc.), Security Agreement (Amaze Holdings, Inc.)
Other Documents and Actions. Each Grantor shall (subject to the Intercreditor Agreement)shall, upon written request by the Second Priority Collateral Agent, promptly execute, deliver, file and/or record any financing statement, notice, instrument, document, agreement or other papers that may be reasonably necessary (in the reasonable judgment of the Second Priority Collateral Agent or its Representative) to create, preserve, perfect or validate the security interest granted pursuant hereto or to enable the Second Priority Collateral Agent or its Representative to exercise and enforce the rights of the Second Priority Collateral Agent hereunder with respect to such pledge and security interest; provided, that in no event shall any control agreements be required. Notwithstanding the foregoing, each Grantor hereby irrevocably authorizes the Second Priority Collateral Agent at any time and from time to time to file in any filing office in any relevant UCC jurisdiction any initial financing statements and amendments thereto that (a) indicate the Collateral (i) as all assets (other than Excluded Assets) of such Grantor or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls within the scope of Article 9 of the UCC of the State of New York or such jurisdiction, or (ii) as being of an equal or lesser scope or with greater detail, and (b) contain any other information required by part 5 of Article 9 of the UCC of the State of New York for the sufficiency or filing office acceptance of any financing statement or amendment, including (i) whether such Grantor is an organization, the type of organization and any organization identification number issued to such Grantor, and (ii) in the case of a financing statement filed as a fixture filing or indicating Collateral as as-extracted collateral or timber to be cut, a sufficient description of real property to which the Collateral relates. Each Grantor agrees to furnish any such information to the Second Priority Collateral Agent promptly upon written request. Each Grantor also ratifies its authorization for the Second Priority Collateral Agent to have filed in any UCC jurisdiction any like initial financing statements or amendments thereto if filed prior to the date hereof. For the avoidance of doubt, it is the obligation of each Grantor to obtain, protect and preserve the perfection of lien on behalf of the Second Priority Collateral Agent and the Second Priority Collateral Agent has no obligation whatsoever to take such acts or make any filings in connection therewith.
Appears in 2 contracts
Sources: Security Agreement (Moneygram International Inc), Security Agreement (Moneygram International Inc)
Other Documents and Actions. Each Grantor shall (subject to the Intercreditor Agreement)give, upon written request by the Second Priority Collateral Agent, promptly execute, deliver, file and/or record any financing statement, notice, instrument, document, agreement or other papers that may be reasonably necessary or desirable (in the reasonable judgment of the Second Priority Collateral Agent or its Representative) to create, preserve, perfect or validate the security interest granted pursuant hereto or to enable the Second Priority Collateral Agent or its Representative to exercise and enforce the rights of the Second Priority Collateral Agent hereunder with respect to such pledge and security interest; provided, provided that notices to account debtors in no event respect of any Accounts or Instruments shall any control agreements be requiredsubject to the provisions of clause (e) below. Notwithstanding the foregoing, each Grantor hereby irrevocably authorizes the Second Priority Collateral Agent at any time and from time to time to file in any filing office in any relevant UCC jurisdiction any initial financing statements and amendments thereto that (a) indicate the Collateral (i) as all assets (other than Excluded Assets) of such Grantor or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls within the scope of Article 9 of the UCC of the State of New York or such jurisdiction, or (ii) as being of an equal or lesser scope or with greater detail, and (b) contain any other information required by part 5 of Article 9 of the UCC of the State of New York for the sufficiency or filing office acceptance of any financing statement or amendment, including (i) whether such Grantor is an organization, the type of organization and any organization identification number issued to such Grantor, and (ii) in the case of a financing statement filed as a fixture filing or indicating Collateral as as-extracted collateral or timber to be cut, a sufficient description of real property to which the Collateral relates. Each Grantor agrees to furnish any such information to the Second Priority Collateral Agent promptly upon written request. Each Grantor also ratifies its authorization for the Second Priority Collateral Agent to have filed in any UCC jurisdiction any like initial financing statements or amendments thereto if filed prior to the date hereof. For the avoidance of doubt, it is the obligation of each Grantor to obtain, protect and preserve the perfection of lien on behalf of the Second Priority Collateral Agent and the Second Priority Collateral Agent has no obligation whatsoever to take such acts or make any filings in connection therewith.
Appears in 2 contracts
Sources: Security Agreement (Vera Bradley, Inc.), Security Agreement (Vera Bradley, Inc.)
Other Documents and Actions. Each Grantor shall (subject to the Intercreditor Agreement)Debtor shall, upon written the reasonable request by of the Second Priority Collateral Agent, promptly give, execute, deliver, file and/or record any financing statement, registration, notice, instrument, document, agreement or other papers that may be reasonably necessary (in the reasonable judgment of the Second Priority Collateral Agent or its Representative) to create, preserve, perfect or validate the security interest granted pursuant hereto (or any security interest or mortgage contemplated or required hereunder) or to enable the Second Priority Collateral Agent or its Representative to exercise and enforce the rights of the Second Priority Collateral Agent Secured Parties hereunder with respect to such pledge and security interest; provided, provided that (i) notices to account debtors in no event respect of any Accounts or Instruments shall be subject to the provisions of clause (e) below and (ii) the Debtors shall not be required to take any control agreements action to create or perfect the security interest granted hereunder outside the United States and shall not be requiredobligated to note the security interest on the certificate of title for any Equipment (including Motor Vehicles) having a value of less than $100,000). Notwithstanding the foregoing, foregoing each Grantor Debtor hereby irrevocably authorizes the Second Priority Collateral Agent at any time and from time to time to file in any filing office in any relevant UCC jurisdiction any initial financing statements (and other similar filings or registrations under other applicable laws and regulations pertaining to the creation, attachment, or perfection of security interests) and amendments thereto that (a) indicate the Collateral (i) as all assets (other than Excluded Assets) of such Grantor Debtor or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls within the scope of Article 9 of the UCC of the State of New York or such jurisdictionUCC, or (ii) as being of an equal or lesser scope or with greater detail, and (b) contain any other information required by part 5 of Article 9 of the UCC of the State of New York for the sufficiency or filing office acceptance of any financing statement or amendment, including (i) whether such Grantor Debtor is an organization, the type of organization and any organization identification number issued to such GrantorDebtor, and (ii) in the case of a financing statement filed as a fixture filing or indicating Collateral as as-extracted collateral or timber to be cutfiling, a sufficient description of real property to which the Collateral relates. Each Grantor Debtor agrees to furnish any such information to the Second Priority Collateral Agent promptly upon written reasonable request. Each Grantor Debtor also ratifies its authorization for the Second Priority Collateral Agent to have filed in any UCC jurisdiction any like initial financing statements or amendments thereto if filed prior to the date hereof. For the avoidance of doubt, it is the obligation of each Grantor to obtain, protect and preserve the perfection of lien on behalf of the Second Priority Collateral Agent and the Second Priority Collateral Agent has no obligation whatsoever to take such acts or make any filings in connection therewith.
Appears in 1 contract
Other Documents and Actions. Each Grantor shall (subject Subject to the Intercreditor Agreement)rights of holders of Permitted Liens, upon written request by the Second Priority Collateral Agenteach Debtor shall give, promptly execute, deliver, file and/or record any financing statement, registration, notice, instrument, document, agreement agreement, Mortgage or other papers that may be reasonably necessary or desirable (in the reasonable judgment of the Second Priority Collateral Agent Secured Party or its Representative) to create, preserve, perfect or validate the security interest granted pursuant hereto (or any security interest or mortgage contemplated or required hereunder, including with respect to Section 2(h) of this Agreement) or to enable the Second Priority Collateral Agent Secured Party or its Representative to exercise and enforce the rights of the Second Priority Collateral Agent Secured Party hereunder with respect to such pledge and security interest, provided that notices to account debtors in respect of any Accounts or Instruments shall be subject to the provisions of clause (e) below; providedprovided further that with respect to Medite GmbH (Austria) and MEDITE sp.zo.o (Poland), that Collateral Agent shall not require any foreign governed security documentation so long as such entities are dissolved or otherwise wound up within 120 days of the date of this Agreement (such time which may be extended with the consent of Collateral Agent in no event shall any control agreements be requiredits sole discretion). Notwithstanding the foregoing, foregoing each Grantor Debtor hereby irrevocably authorizes the Second Priority Collateral Agent Secured Party at any time and from time to time to file in any filing office in any relevant UCC jurisdiction any initial financing statements (and other similar filings or registrations under other applicable laws and regulations pertaining to the creation, attachment, or perfection of security interests) and amendments thereto that (a) indicate the Collateral (i) as all assets (other than Excluded Assets) of such Grantor Debtor or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls within the scope of Article 9 of the UCC of the State of New York or such jurisdictionUCC, or (ii) as being of an equal or lesser scope or with greater detail, and (b) contain any other information required by part 5 of Article 9 of the UCC of the State of New York for the sufficiency or filing office acceptance of any financing statement or amendment, including (i) whether such Grantor Debtor is an organization, the type of organization and any organization identification number issued to such GrantorDebtor, and (ii) in the case of a financing statement filed as a fixture filing or indicating Collateral as as-extracted collateral or timber to be cutfiling, a sufficient description of real property to which the Collateral relates. Each Grantor Debtor agrees to furnish any such information to the Second Priority Collateral Agent Secured Party promptly upon written request. Each Grantor Debtor also ratifies its authorization for the Second Priority Collateral Agent Secured Party to have filed in any UCC jurisdiction any like initial financing statements or amendments thereto if filed prior to the date hereof. For the avoidance of doubt, it is the obligation of each Grantor to obtain, protect and preserve the perfection of lien on behalf of the Second Priority Collateral Agent and the Second Priority Collateral Agent has no obligation whatsoever to take such acts or make any filings in connection therewith.
Appears in 1 contract
Sources: Security Agreement (Medite Cancer Diagnostics, Inc.)
Other Documents and Actions. Each Grantor Debtor shall (subject to the Intercreditor Agreement)give, upon written request by the Second Priority Collateral Agent, promptly execute, deliver, file and/or record any financing statement, notice, instrument, document, agreement or other papers that may be reasonably necessary or desirable (in the reasonable judgment of the Second Priority Collateral Agent Secured Party or its Representative) to create, preserve, perfect or validate the security interest granted pursuant hereto or to enable the Second Priority Collateral Agent Secured Party or its Representative to exercise and enforce the rights of the Second Priority Collateral Agent Secured Party hereunder with respect to such pledge and security interest; provided, provided that notices to account debtors in no event respect of any Accounts or Instruments shall any control agreements be requiredsubject to the provisions of clause (e) below. Notwithstanding the foregoing, foregoing each Grantor Debtor hereby irrevocably authorizes the Second Priority Collateral Agent Secured Party at any time and from time to time to file in any filing office in any relevant UCC jurisdiction any initial financing statements and amendments thereto that (a) indicate the Collateral (i) as all assets (other than Excluded Assets) of such Grantor Debtor or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls within the scope of Article 9 of the UCC Uniform Commercial Code of the State of New York or such jurisdiction, or (ii) as being of an equal or lesser scope or with greater detail, and (b) contain any other information required by part 5 of Article 9 of the UCC Uniform Commercial Code of the State of New York or any other State for the sufficiency or filing office acceptance of any financing statement or amendment, including (i) whether such Grantor Debtor is an organization, the type of organization and any organization identification number issued to such GrantorDebtor, and (ii) in the case of a financing statement filed as a fixture filing or indicating Collateral as asAs-extracted collateral Collateral or timber to be cut, a sufficient description of real property to which the Collateral relates. Each Grantor Debtor agrees to furnish any such information to the Second Priority Collateral Agent Secured Party promptly upon written request. Each Grantor Debtor also ratifies its authorization for the Second Priority Collateral Agent Secured Party to have filed in any UCC jurisdiction any like initial financing statements or amendments thereto if filed prior to the date hereof. For the avoidance of doubt, it is the obligation of each Grantor to obtain, protect and preserve the perfection of lien on behalf of the Second Priority Collateral Agent and the Second Priority Collateral Agent has no obligation whatsoever to take such acts or make any filings in connection therewith.
Appears in 1 contract
Other Documents and Actions. Each Grantor shall (subject to the Intercreditor Agreement)give, upon written request by the Second Priority Collateral Agent, promptly execute, deliver, file and/or record any financing statement, notice, instrument, document, agreement or other papers that may be reasonably necessary or desirable (in the reasonable judgment of the Second Priority Collateral Administrative Agent or its Representative) to create, preserve, perfect or validate the security interest granted pursuant hereto or to enable the Second Priority Collateral Agent or its Representative to exercise and enforce the rights of the Second Priority Collateral Agent hereunder with respect to such pledge and security interest; provided, provided that notices to account debtors in no event respect of any Accounts or Instruments shall any control agreements be requiredsubject to the provisions of clause (d) below. Notwithstanding the foregoing, each Grantor hereby irrevocably authorizes the Second Priority Collateral Agent at any time and from time to time to file in any filing office in any relevant UCC Uniform Commercial Code jurisdiction any initial financing statements and amendments thereto that (a) indicate the Collateral (i) as all assets (other than Excluded Assets) of such Grantor or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls within the scope of Article 9 of the UCC Uniform Commercial Code of the State of New York or such jurisdiction, or (ii) as being of an equal or lesser scope or with greater detail, and (b) contain any other information required by part 5 of Article 9 of the UCC Uniform Commercial Code of the State of New York for the sufficiency or filing office acceptance of any financing statement or amendment, including (i) whether such Grantor is an organization, the type of organization and any organization identification number issued to such Grantor, and (ii) in the case of a financing statement filed as a fixture filing or indicating Collateral as as-extracted collateral or timber to be cut, a sufficient description of real property to which the Collateral relates. Each Grantor agrees to furnish any such information to the Second Priority Collateral Agent promptly upon written request. Each Grantor also ratifies its authorization for the Second Priority Collateral Agent to have filed in any UCC jurisdiction any like initial financing statements or amendments thereto if filed prior to the date hereof. For the avoidance of doubt, it is the obligation of each Grantor to obtain, protect and preserve the perfection of lien on behalf of the Second Priority Collateral Agent and the Second Priority Collateral Agent has no obligation whatsoever to take such acts or make any filings in connection therewith.
Appears in 1 contract
Other Documents and Actions. Each Grantor shall (subject Debtor will, from time to the Intercreditor Agreement)time, upon written request by the Second Priority Collateral Agentat its expense, promptly execute, deliver, file and/or record any financing statement, notice, instrument, document, agreement or other papers execute and deliver all further Instruments and Documents and take all further action that may be reasonably necessary (or desirable, or that Senior Agent, on behalf of Agents, Senior Lenders, Subordinated Agent and Subordinated Creditors, may request, in the reasonable judgment of the Second Priority Collateral Agent or its Representative) order to create, preserve, perfect and protect any security interests granted or validate the security interest purported to be granted hereby or pursuant hereto to any other Loan Document or to enable the Second Priority Collateral Senior Agent, on behalf of Agents, Senior Lenders, Subordinated Agent or its Representative and Subordinated Creditors, to exercise and enforce the its rights of the Second Priority Collateral Agent hereunder and remedies hereunder, or under any other Loan Document with respect to any Collateral. Without limiting the generality of the foregoing, Debtor will: (a) execute and file such pledge financing or continuation statements, or financing change statements or amendments thereto, and such other Instruments, Documents or notices, as may be necessary or desirable, or as Senior Agent, on behalf of Agents, Senior Lenders, Subordinated Agent and Subordinated Creditors, may request, in order to create, perfect and preserve the security interestinterests granted or purported to be granted hereby or pursuant to any other Loan Document; provided, that (b) at any reasonable time (but in no event shall any control agreements be required. Notwithstanding the foregoingmore than four times per calendar year unless an Event of Default has occurred and is continuing), each Grantor hereby irrevocably authorizes the Second Priority Collateral upon demand by Senior Agent, on behalf of Agents, Senior Lenders, Subordinated Agent at any time and from time to time to file in any filing office in any relevant UCC jurisdiction any initial financing statements and amendments thereto that (a) indicate Subordinated Creditors, exhibit the Collateral (i) as all assets (other than Excluded Assets) to allow inspection of such Grantor or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls within the scope by Senior Agent, on behalf of Article 9 Agents, Senior Lenders, Subordinated Agent and Subordinated Creditors, or Persons designated by Senior Agent and to examine and make copies of the UCC records of Debtor related thereto, and to discuss the State Collateral and the records of New York or such jurisdictionDebtor with respect thereto with, or (ii) and to be advised as being to the same by, an executive officer of Debtor and, after the occurrence and during the continuance of an equal or lesser scope or with greater detailEvent of Default, and (b) contain any other information required by part 5 of Article 9 of the UCC of the State of New York for the sufficiency or filing office acceptance of any financing statement or amendment, including (i) whether such Grantor is an organization, the type of organization and any organization identification number issued to such Grantor, and (ii) in the case of a financing statement filed as a fixture filing the Accounts, Documents, General Intangibles, Instruments and Investment Property with any Person which is or indicating Collateral as as-extracted collateral may be obligated thereon; (c) upon request of Senior Agent appear in and defend any action or timber proceeding that may affect Debtor’s title to be cutor security interest of Senior Agent, a sufficient description of real property to which the Collateral relates. Each Grantor agrees to furnish any such information to the Second Priority Collateral Agent promptly upon written request. Each Grantor also ratifies its authorization for the Second Priority Collateral Agent to have filed in any UCC jurisdiction any like initial financing statements or amendments thereto if filed prior to the date hereof. For the avoidance of doubt, it is the obligation of each Grantor to obtain, protect and preserve the perfection of lien on behalf of the Second Priority Collateral Agents, Senior Lenders, Subordinated Agent and Subordinated Creditors, in the Second Priority Collateral and (d) transfer Collateral to Senior Agent’s possession (for the benefit of Agents, Senior Lenders, Subordinated Agent has no obligation whatsoever to and Subordinated Creditors) if such Collateral consists of chattel paper or Instruments or if a Lien on such Collateral can be perfected only by possession, or if requested by Senior Agent in writing. It is understood and agreed that in making such request, Administrative Agent shall take such acts or make into account the effect the laws, rules and regulations of Canada and foreign countries may have on the granting of security, pledging of assets and entering into guaranties and that Administrative Agent shall not knowingly request any filings in connection therewithof the foregoing which would cause a Material Adverse Effect on the Loan Parties and their Subsidiaries.
Appears in 1 contract
Sources: Security Agreement (Recoton Corp)
Other Documents and Actions. Each Grantor shall (subject Debtor will, from time to the Intercreditor Agreement)time, upon written request by the Second Priority Collateral Agentat its expense, promptly execute, deliver, file and/or record any financing statement, notice, instrument, document, agreement or other papers execute and deliver all further instruments and documents and take all further action that may be reasonably necessary (in the reasonable judgment of the Second Priority or desirable, or that Collateral Agent or its Representative) may request, in order to create, preserve, perfect and protect any security interests granted or validate the security interest purported to be granted hereby or pursuant hereto to any other Loan Document or to enable the Second Priority Collateral Agent or its Representative to exercise and enforce the its rights of the Second Priority Collateral Agent hereunder and remedies hereunder, or under any other Loan Document with respect to such pledge and security interest; provided, that in no event shall any control agreements be requiredthe Collateral. Notwithstanding Without limiting the generality of the foregoing, each Grantor hereby irrevocably authorizes the Second Priority Collateral Agent at any time and from time to time to file in any filing office in any relevant UCC jurisdiction any initial financing statements and amendments thereto that Debtor will: (a) indicate the Collateral (i) as all assets (other than Excluded Assets) of execute and file such Grantor financing or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls within the scope of Article 9 of the UCC of the State of New York or such jurisdictioncontinuation statements, or (ii) as being of an equal or lesser scope or with greater detailamendments thereto, and such other instruments, documents or notices, as may be necessary or desirable, or as Collateral Agent may request, in order to create, perfect and preserve the security interests granted or purported to be granted hereby or pursuant to any other Loan Document with respect to the Collateral; (b) contain at any other information required reasonable time, upon demand by part 5 Collateral Agent after and during the continuance of Article 9 an Event of Default, exhibit its Collateral to allow inspection of such Collateral by Collateral Agent or Persons designated by Collateral Agent and to examine and make copies of the UCC records of the State of New York for the sufficiency or filing office acceptance of any financing statement or amendment, including (i) whether such Grantor is an organization, the type of organization and any organization identification number issued to such GrantorDebtor related thereto, and (ii) to discuss such Collateral and the records of Debtor with respect thereto with, and to be advised as to the same by, Debtor's officers and employees and, after the occurrence and during the continuance of an Event of Default, in the case of Debtor's Accounts, Documents, General Intangibles, Instruments and Investment Property with any Person which is or may be obligated thereon; and (c) upon Collateral Agent's request, appear in and defend any action or proceeding that may affect Debtor's title to or Collateral Agent's security interest in with respect to the Collateral. Without limiting the generality of the foregoing, Debtor shall use its reasonable best efforts to obtain a financing statement filed Landlord Waiver Agreement (as defined herein) from each of its existing landlords with respect to any premises of Debtor located in the United States of America. For purposes herein, the term "Landlord Waiver Agreement" shall mean a fixture filing or indicating written agreement from the landlord of such premises in favor of the Collateral as as-extracted collateral or timber Agent, in form and substance reasonably satisfactory to be cutthe Collateral Agent, a sufficient description of real property pursuant to which such landlord will acknowledge Collateral Agent's security interest in the Collateral, waive any security interest, lien or other claim by such landlord to the Collateral relates. Each Grantor agrees and agree to furnish any such information permit Collateral Agent access to the Second Priority Collateral Agent promptly upon written request. Each Grantor also ratifies premises in order to exercise its authorization for rights and remedies and otherwise deal with the Second Priority Collateral Agent to have filed in any UCC jurisdiction any like initial financing statements or amendments thereto if filed prior to the date hereof. For the avoidance of doubt, it is the obligation of each Grantor to obtain, protect and preserve the perfection of lien on behalf of the Second Priority Collateral Agent and the Second Priority Collateral Agent has no obligation whatsoever to take such acts or make any filings in connection therewithCollateral.
Appears in 1 contract
Sources: General Security Agreement (Ultralife Batteries Inc)