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22:45 Aug 1, 2006
English to French translations [PRO] Bus/Financial - Law: Contract(s) / Credit Agreement
English term or phrase:perfected first priority security interest
(j) Covenant to Guarantee Obligations and Give Security. (v) Upon the request of the Collateral Agent following the occurrence and during the continuance of an Event of Default, (w) upon the formation or acquisition of any new direct or indirect Subsidiaries by any Loan Party necessary to comply with the Guarantee and Collateral Requirement, (x) upon the acquisition of any property by any Loan Party, and such property, in the reasonable judgment of the Collateral Agent, shall not already be subject to a perfected first priority security interest or a registered first ranking hypothec in favor of the Collateral Agent for the benefit of the Secured Parties, or (z) as otherwise shall be necessary to comply with the Guarantee and Collateral Requirement, then in each case at the Borrower’s expense, all subject to and only to the extent required to comply with the Guarantee and Collateral Requirement: