Common use of Certain Collateral Clause in Contracts

Certain Collateral. None of the Collateral constitutes, or is the Proceeds of, farm products and none of the Collateral has been purchased for, or will be used by any Debtor primarily for personal, family or household purposes. Except as set forth on Schedule 3.4 or otherwise notified to the Administrative Agent pursuant to Sections ‎4.09, ‎4.10 or ‎4.11, respectively: (a) none of the account debtors or other persons obligated on any of the Collateral of such Debtor is a Governmental Authority subject to the Federal Assignment of Claims Act or like federal or state statute or rule in respect of such Collateral of the type described in ‎Section 4.11(a); (b) such Debtor holds no commercial tort claims; (c) such Debtor holds no interest in, title to or power to transfer, any Patents, Trademarks or Copyrights; (d) such Debtor holds no interest in, title to or power to transfer any Intellectual Property that is registered or for which an application has been filed in the United States Patent and Trademark Office or the United States Copyright Office; (e) such Debtor owns no vessels or aircraft.

Appears in 2 contracts

Samples: Security Agreement (Basic Energy Services Inc), Security Agreement (Basic Energy Services Inc)

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Certain Collateral. None of the Collateral constitutes, or is the Proceeds of, farm products and none of the Collateral has been purchased for, or will be used by any Debtor primarily for personal, family or household purposes. Except as set forth on Schedule 3.4 or otherwise notified to the Administrative Agent pursuant to Sections ‎4.09, ‎4.10 4.9 or ‎4.114.10, respectively: (a) none of the account debtors or other persons obligated on any of the Collateral of such Debtor is a Governmental Authority governmental authority subject to the Federal Assignment of Claims Act or like federal or state statute or rule in respect of such Collateral of the type described in ‎Section 4.11(aSection 4.10(a); (b) such Debtor holds no commercial tort claimsclaims where the reasonably expected amount to be recovered from such claim exceeds $500,000; (c) such Debtor holds no interest in, title to or power to transfer, any Patents, Trademarks or Copyrights; (d) such Debtor holds no interest in, title to or power to transfer any Intellectual Property that is registered or for which an application has been filed in the United States Patent and Trademark Office or the United States Copyright Office; (e) such Debtor owns no vessels vessels, rolling stock, or aircraft.

Appears in 1 contract

Samples: Security Agreement (Global Geophysical Services Inc)

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Certain Collateral. None of the Collateral constitutes, or is the Proceeds of, farm products and none of the Collateral has been purchased for, or will be used by any Debtor primarily for personal, family or household purposes. Except as set forth on Schedule 3.4 or otherwise notified to the Administrative Agent pursuant to Sections ‎4.094.9, ‎4.10 4.10 or ‎4.114.11, respectively: (a) none of the account debtors or other persons obligated on any of the Collateral of such Debtor is a Governmental Authority subject to the Federal Assignment of Claims Act or like federal or state statute or rule in respect of such Collateral of the type described in ‎Section Section 4.11(a); (b) such Debtor holds no commercial tort claims; (c) such Debtor holds no interest in, title to or power to transfer, any Patents, Trademarks or Copyrights; (d) such Debtor holds no interest in, title to or power to transfer any Intellectual Property that is registered or for which an application has been filed in the United States Patent and Trademark Office or the United States Copyright Office; ; (e) such Debtor owns no vessels or aircraft.

Appears in 1 contract

Samples: Security Agreement (Basic Energy Services Inc)

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