Common use of Borrower Security Agreement Clause in Contracts

Borrower Security Agreement. Borrower Security Agreement duly executed by Borrower together with (i) financing statements (UCC-1) to be filed under the Uniform Commercial Code of all jurisdictions necessary or, in the opinion of the Agent or any Bank, desirable to perfect the security interest created by such Security Agreement; (ii) Uniform Commercial Code searches identifying all of the financing statements on file with respect to Borrower in all jurisdictions referred to under (i), including the financing statements filed by the Agent against such party indicating that no party other than the Agent claims an interest in any of the Collateral except with respect to Permitted Liens and (iii) endorsement, without recourse, of the Intercompany Demand Note payable to the order of Borrower and the original of each such Intercompany Demand Note;