Common use of An Opinion of Counsel stating Clause in Contracts

An Opinion of Counsel stating. (i) that the documents that have been or are therewith delivered to the Trustee in connection with an investment in Replacement Assets conform to the requirements of this Indenture and that all conditions precedent herein provided for relating to such application of Trust Monies have been complied with; and (ii) to the extent that such Replacement Assets were acquired with proceeds, the relevant Collateral Documents create a valid, binding and enforceable Lien on and security interest in such Replacement Assets in favor of the Trustee for the benefit of the Holders and, to the extent that a security interest in any such Replacement Assets may be perfected under the relevant Uniform Commercial Code, a perfected security interest in such property. Upon compliance with the foregoing provisions, the Trustee shall apply the Released Trust Monies as directed and specified by the Company.

Appears in 2 contracts

Samples: Indenture (RBX Corp), Indenture (RBX Corp)

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An Opinion of Counsel stating. (i) that the documents that have been or are therewith delivered to the Trustee in connection with an investment in Replacement Assets conform to the requirements of this Indenture and that all conditions precedent herein provided for relating to such application of Trust Monies have been complied with; and (ii) to the extent that such Replacement Assets were acquired with proceedsNet Proceeds, the relevant Collateral Documents create a valid, binding and enforceable Lien Lien, subject only to Permitted Liens, on and security interest in such Replacement Assets in favor of the Trustee for the benefit of the Holders and, to the extent that a security interest in any such Replacement Assets may be perfected under the relevant Uniform Commercial CodeUCC, a perfected security interest in such property. Upon compliance with the foregoing provisions, the Trustee shall apply the Released Trust Monies as directed and specified by the Company.

Appears in 1 contract

Samples: Indenture (Raceland Truck Plaza & Casino LLC)

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An Opinion of Counsel stating. (i) that the documents that have been or are therewith delivered to the Trustee in connection with an investment in Replacement Assets conform to the requirements of this Indenture and that all conditions precedent herein provided for relating to such application of Trust Monies have been complied with; and (ii) to the extent that such Replacement Assets were acquired with proceedsCollateral Proceeds, the relevant Collateral Documents create a valid, binding and enforceable Lien on and security interest in such Replacement Assets in favor of the Trustee for the benefit of the Holders and, to the extent that a security interest in any such Replacement Assets may be perfected under the relevant Uniform Commercial Code, a perfected security interest in such property. Upon compliance with the foregoing provisions, the Trustee shall apply the Released Trust Monies as directed and specified by the Company.

Appears in 1 contract

Samples: Indenture (RBX Corp)

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