Common use of Security and Further Assurances Clause in Contracts

Security and Further Assurances. Each Loan Party shall, from time to time as the Bank may reasonably request, at the Borrower’s own expense, promptly execute and deliver all such further instruments (including, without limiting the generality of the foregoing, additional security agreements, and financing statements) and do such other acts as the Bank may reasonably request for the purpose of protecting or perfecting any Lien created or granted or intended to be created or granted in the International Security Documents or in order to ensure that any such Lien is of the priority purported to be granted thereby and as required by Section 9.1 hereof, or in order to police or protect any Collateral or otherwise to carry out more effectually the purposes and intent of the International Loan Documents.

Appears in 2 contracts

Sources: International Letter of Credit Agreement (Great Lakes Dredge & Dock CORP), International Letter of Credit Agreement (Great Lakes Dredge & Dock Corp)