Common use of Agreements, Representations and Warranties Clause in Contracts

Agreements, Representations and Warranties. Each of Holdings and the US Borrower further agrees, represents and warrants to the Collateral Agent and the Secured Parties that: (a) as of the Effective Date, the Assigned Contracts are in full force and effect, there being no default thereunder by Holdings or the US Borrower. Holdings and the US Borrower will not permit any waiver, supplement, amendment, change or modification to be made to the Assigned Contracts, except as permitted in accordance with the Credit Agreement, without the written consent of the Collateral Agent; and (b) it has the right, power and authority to grant to the Collateral Agent a security interest in its right, title and interest in and to the Assigned Contracts. It has not heretofore hypothecated, assigned, mortgaged, pledged, encumbered or otherwise transferred its right, title or interest under the Assigned Contracts in any manner to any person other than the Collateral Agent, nor will it do so at any time hereafter without the Collateral Agent’s prior written consent in each instance. Any such hypothecation, assignment, mortgage, pledge or encumbrance without the Collateral Agent’s consent shall be void and of no force or effect.

Appears in 3 contracts

Samples: Credit Agreement (Compass Minerals International Inc), Credit Agreement (Compass Minerals International Inc), Us Collateral Assignment (Compass Minerals International Inc)

AutoNDA by SimpleDocs

Agreements, Representations and Warranties. Each of Holdings and the US The Borrower further agrees, represents and warrants to the Collateral Agent and the Secured Parties that: (a) as of the Effective Datedate hereof, the Assigned Contracts are in full force and effect, there being no default thereunder by Holdings or the US Borrower. Holdings and the US The Borrower will not permit any waiver, supplement, amendment, change or modification to be made to the Assigned Contracts, except as permitted in accordance with the Credit Agreement, without the written consent of the Collateral Agent, except as permitted in accordance with Section 6.11(b) of the Credit Agreement and the Indenture (to the extent consistent with the Collateral Sharing Agreement); and (b) it has the right, power and authority to grant to the Collateral Agent a security interest in its right, title and interest in and to the Assigned Contracts. It has not heretofore hypothecated, assigned, mortgaged, pledged, encumbered or otherwise transferred its right, title or interest under the Assigned Contracts in any manner to any person other than the Collateral AgentAgent and Xxxxx Fargo Bank Minnesota, National Association, as collateral agent for the holders of the Senior Secured Notes due 2008 issued by the Borrower and Holdings, nor will it do so at any time hereafter without the Collateral Agent’s 's prior written consent in each instance, except for assignments, mortgages, pledges or encumbrances permitted or not prohibited by the Credit Agreement and the Indenture. Any such hypothecation, assignment, mortgage, pledge or encumbrance without the Collateral Agent’s 's consent shall be void and of no force or effect.

Appears in 1 contract

Samples: Collateral Assignment (On Semiconductor Corp)

Agreements, Representations and Warranties. Each of ------------------------------------------- Holdings and the US Borrower further agrees, represents and warrants to the Collateral Agent and the Secured Parties that: (a) as of the Effective Initial Borrowing Date, the Assigned Contracts are in full force and effect, there being no default thereunder by Holdings or the US Borrower. Holdings and the US Borrower will not permit any waiver, supplement, amendment, change or modification to be made to the Assigned Contracts, except as permitted in accordance with the Credit Agreement, without the written consent of the Collateral Agent; and (b) it has the right, power and authority to grant to the Collateral Agent a security interest in its right, title and interest in and to the Assigned Contracts. It has not heretofore hypothecated, assigned, mortgaged, pledged, encumbered or otherwise transferred its right, title or interest under the Assigned Contracts in any manner to any person other than the Collateral Agent, nor will it do so at any time hereafter without the Collateral Agent’s 's prior written consent in each instance. Any such hypothecation, assignment, mortgage, pledge or encumbrance without the Collateral Agent’s 's consent shall be void and of no force or effect.

Appears in 1 contract

Samples: Us Collateral Assignment (GSL Corp)

AutoNDA by SimpleDocs

Agreements, Representations and Warranties. Each of Holdings and the US Borrower further agrees, represents and warrants to the Collateral Agent and the Secured Parties that: (a) as of the Effective Initial Borrowing Date, the Assigned Contracts are in full force and effect, there being no default thereunder by Holdings or the US Borrower. Holdings and the US Borrower will not permit any waiver, supplement, amendment, change or modification to be made to the Assigned Contracts, except as permitted in accordance with the Credit Agreement, without the written consent of the Collateral Agent; and (b) it has the right, power and authority to grant to the Collateral Agent a security interest in its right, title and interest in and to the Assigned Contracts. It has not heretofore hypothecated, assigned, mortgaged, pledged, encumbered or otherwise transferred its right, title or interest under the Assigned Contracts in any manner to any person other than the Collateral Agent, nor will it do so at any time hereafter without the Collateral Agent’s 's prior written consent in each instance. Any such hypothecation, assignment, mortgage, pledge or encumbrance without the Collateral Agent’s 's consent shall be void and of no force or effect.

Appears in 1 contract

Samples: Us Collateral Assignment (Salt Holdings Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!