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Place cilantro, parsley, RedHot sauce and garlic in food processor. Pulse, gradually adding 2 tablespoons of the oil and lime juice, until coarsely chopped and well blended. Refrigerate until ready to serve.
Brush steak with remaining 1 tablespoon of the oil. Season on both sides with Montreal Steak Seasoning.
Grill steak over medium-high heat 6 to 8 minutes per side or until desired doneness. Let steak stand 5 minutes before slicing against the grain. Serve with RedHot Chimichurri Sauce.