Document ID: 14432

Text:
SECTION8.15 Additional Foreign Subsidiaries . Notify the Administrative Agent promptly after the Borrower or any Guarantor creates or acquires a First Tier Foreign Subsidiary, and promptly thereafter (and, in any event, within forty five (45) days after such notification, as such time period may be extended by the Administrative Agent in its sole discretion), cause (i)the applicable Credit Party to deliver to the Administrative Agent Security Documents pledging, to the extent that the following does not constitute Excluded Assets, sixty-five percent (65%) of the total outstanding voting Equity Interests (and one hundred percent (100%) of the non-voting Equity Interests, if any) of any such new First Tier Foreign Subsidiary and, if reasonably requested by the Administrative Agent, a consent thereto executed by such new First Tier Foreign Subsidiary (including, without limitation, if applicable, original certificated Equity Interests (or the equivalent thereof pursuant to the Applicable Laws and practices of any relevant foreign jurisdiction) evidencing the Equity Interests to be pledged of such new First Tier Foreign Subsidiary, together with an appropriate undated stock or other transfer power for each certificate duly executed in blank by the registered owner thereof), (ii)such Person to deliver to the Administrative Agent such opinions, documents and certificates referred to in Section6.1 as may be reasonably requested by the Administrative Agent, (iii)such Person to deliver to the Administrative Agent such updated Schedules to the Loan Documents as requested by the Administrative Agent with regard to such Person, (iv)deliver to the Administrative Agent a duly executed joinder to each of the Junior Lien Intercreditor Agreement and Pari Passu Intercreditor Agreement and (v)such Person to deliver to the Administrative Agent such other documents as may be reasonably requested by the Administrative Agent, all in form, content and scope reasonably satisfactory to the Administrative Agent. For purposes of this Section8.15, compliance with applicable foreign law with respect to the grant, creation and perfection of Liens on and security interests in the Collateral will not be required.

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Tokenized Text:
SECTION8
.
15
Additional
Foreign
Subsidiaries
.
Notify
the
Administrative
Agent
promptly
after
the
Borrower
or
any
Guarantor
creates
or
acquires
a
First
Tier
Foreign
Subsidiary
,
and
promptly
thereafter
(
and
,
in
any
event
,
within
forty
five
(
45
)
days
after
such
notification
,
as
such
time
period
may
be
extended
by
the
Administrative
Agent
in
its
sole
discretion
)
,
cause
(
i
)
the
applicable
Credit
Party
to
deliver
to
the
Administrative
Agent
Security
Documents
pledging
,
to
the
extent
that
the
following
does
not
constitute
Excluded
Assets
,
sixty-five
percent
(
65
%
)
of
the
total
outstanding
voting
Equity
Interests
(
and
one
hundred
percent
(
100
%
)
of
the
non-voting
Equity
Interests
,
if
any
)
of
any
such
new
First
Tier
Foreign
Subsidiary
and
,
if
reasonably
requested
by
the
Administrative
Agent
,
a
consent
thereto
executed
by
such
new
First
Tier
Foreign
Subsidiary
(
including
,
without
limitation
,
if
applicable
,
original
certificated
Equity
Interests
(
or
the
equivalent
thereof
pursuant
to
the
Applicable
Laws
and
practices
of
any
relevant
foreign
jurisdiction
)
evidencing
the
Equity
Interests
to
be
pledged
of
such
new
First
Tier
Foreign
Subsidiary
,
together
with
an
appropriate
undated
stock
or
other
transfer
power
for
each
certificate
duly
executed
in
blank
by
the
registered
owner
thereof
)
,
(
ii
)
such
Person
to
deliver
to
the
Administrative
Agent
such
opinions
,
documents
and
certificates
referred
to
in
Section6
.
1
as
may
be
reasonably
requested
by
the
Administrative
Agent
,
(
iii
)
such
Person
to
deliver
to
the
Administrative
Agent
such
updated
Schedules
to
the
Loan
Documents
as
requested
by
the
Administrative
Agent
with
regard
to
such
Person
,
(
iv
)
deliver
to
the
Administrative
Agent
a
duly
executed
joinder
to
each
of
the
Junior
Lien
Intercreditor
Agreement
and
Pari
Passu
Intercreditor
Agreement
and
(
v
)
such
Person
to
deliver
to
the
Administrative
Agent
such
other
documents
as
may
be
reasonably
requested
by
the
Administrative
Agent
,
all
in
form
,
content
and
scope
reasonably
satisfactory
to
the
Administrative
Agent
.
For
purposes
of
this
Section8
.
15
,
compliance
with
applicable
foreign
law
with
respect
to
the
grant
,
creation
and
perfection
of
Liens
on
and
security
interests
in
the
Collateral
will
not
be
required
.