Common use of Certain Collateral Clause in Contracts

Certain Collateral. (a) 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. (b) Except as set forth on Schedule 3.4 or otherwise notified to the Secured Party pursuant to Section 4.8: (i) 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 4.8(a); and (ii) such Debtor holds no Commercial Tort Claims.

Appears in 1 contract

Samples: Second Lien Security Agreement (Basic Energy Services, Inc.)

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Certain Collateral. (a) None of the Collateral constitutes, or is the Proceeds of, farm products, products and none of the Collateral has been purchased for, or will be used by any Debtor primarily for, for personal, family or household purposes. (b) . Except as set forth on Schedule 3.4 or otherwise notified to the Secured Party Administrative Agent pursuant to Section 4.8: (ia) none of the Account Debtors 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 4.8(a); and (iib) such Debtor holds no Commercial Tort Claimscommercial tort claims.

Appears in 1 contract

Samples: Security Agreement (Basic Energy Services Inc)

Certain Collateral. (a) None of the Collateral constitutes, or is the Proceeds of, farm products, products and none of the Collateral has been purchased for, or will be used by any Debtor primarily for, for personal, family family, or household purposes. (b) . Except as set forth on Schedule 3.4 or otherwise notified to the Secured Party Administrative Agent pursuant to Section 4.8Sections 4.8 or 4.12, respectively: (ia) none of the Account Debtors 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 4.8(a4.12(a); and; (iib) such Debtor holds no Commercial Tort Claimscommercial tort claims; (c) such Debtor owns no vessels, rolling stock (other than motor vehicles), or aircraft.

Appears in 1 contract

Samples: Security Agreement (Grant Prideco Inc)

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Certain Collateral. (a) 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. (b) . Except as set forth on Schedule 3.4 or otherwise notified to the Secured Party Administrative Agent pursuant to Section 4.8: (ia) 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 4.8(a); and (iib) such Debtor holds no Commercial Tort Claims.

Appears in 1 contract

Samples: Security Agreement (Basic Energy Services Inc)

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