Claims Against Collateral Sample Clauses
The "Claims Against Collateral" clause defines the rights and obligations of parties regarding any claims, liens, or encumbrances that may arise against collateral pledged under an agreement. Typically, this clause outlines the procedures for addressing third-party claims, such as requiring the pledgor to promptly notify the secured party and take necessary actions to defend or clear the collateral of such claims. Its core practical function is to protect the secured party’s interest in the collateral by ensuring that it remains free from competing claims, thereby preserving the value and enforceability of the security interest.
Claims Against Collateral. Maintain the Collateral, as the same is constituted from time to time, free and clear of all Liens, except to the extent, if any, of the Permitted Liens, and Borrowers will defend or cause to be defended the Collateral against all of the claims and demands of all Persons whomsoever (except to the extent, if any, of the Permitted Liens).
Claims Against Collateral. Each Loan Party shall maintain the Collateral free and clear of all Liens, except to the extent, if any, of the Permitted Liens. Each Loan Party will defend or cause to be defended the Collateral against all of the claims and demands of all Persons whomsoever (except to the extent, if any, of the Permitted Liens).
Claims Against Collateral. Each Grantor shall, at its own cost and expense, defend title to the Collateral and the First Priority security interest and Lien granted to the Administrative Agent with respect thereto against all claims and demands of all Persons at any time claiming any interest therein adverse to the Administrative Agent or any other Secured Party other than Liens permitted under the Loan Agreement. Except as expressly permitted by the Loan Agreement or any other Credit Document, there is no agreement to which any Grantor is a party, order, judgment or decree, and no Grantor shall enter into any agreement or take any other action, that could reasonably be expected to restrict the transferability of any of the Collateral or otherwise impair or conflict in any material respect with such Grantors' obligations or the rights of the Administrative Agent hereunder.
Claims Against Collateral. Each Grantor shall, at its own cost and expense, defend title to the Collateral and the First Priority security interest and Lien granted to the Collateral Agent with respect thereto against all claims and demands of all Persons at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party other than Liens permitted under the Security Documents. Except as expressly permitted by the Security Documents, there is no agreement, order, judgment or decree, and no Grantor shall enter into any agreement or take any other action, that could reasonably be expected to restrict the transferability of any of the Collateral or otherwise impair or conflict with such Grantors' obligations or the rights of the Collateral Agent hereunder.
Claims Against Collateral. The Pledgor shall, within 5 days of receipt of knowledge by the Pledgor, notify GMAC in reasonable detail of any lien, encumbrance or claim made or asserted against the Collateral.
Claims Against Collateral. The Borrower shall maintain, and shall cause each of its Subsidiaries to maintain, the Collateral free and clear of all Liens, except to the extent, if any, of the Permitted Encumbrances. The Borrower shall defend or cause to be defended the Collateral against all of the claims and demands of all Persons whomsoever (except to the extent, if any, of the Permitted Encumbrances).
Claims Against Collateral. EPC shall, within 5 Business Day of receipt of knowledge by EPC, notify Lender in reasonable detail, of any Lien or claim made or asserted against the Collateral.
Claims Against Collateral. Maintain the Collateral, as the same is constituted from time to time, free and clear of all liens, and Supplier will defend the Collateral against all claims and demands of all persons at any time claiming the same or any interests therein adverse to Secured Party. In the event Secured Party discovers that the Collateral, in whole or in part, is subject to any liens existing on the date of this Agreement, Supplier will provide Secured Party an acknowledgment and release from the lien-holder in a form acceptable to Secured Party within thirty (30) days of the date of discovery. In the event that Supplier fails to provide Secured Party the acknowledgement and release, Secured Party may exercise remedial actions permitted under the Service Agreement, including but not limited to an increase of Supplier’s collateral requirements.
Claims Against Collateral. Each Grantor shall, at its own cost and expense, defend title to the Collateral and the First Priority security interest and Lien (subject, in the case of the Pledged Collateral, only to Priority Liens) granted to the Secured Parties with respect thereto against all claims and demands of all Persons at any time claiming any interest therein adverse to the Secured Parties other than Liens permitted under the Amended and Restated Credit Agreement. Except as expressly permitted by the Amended and Restated Credit Agreement or any other Loan Document, or as otherwise set forth on Schedule 4.08, there is no agreement to which a Grantor is a party, order, judgment or decree, and no Grantor shall enter into any agreement or take any other action, that could restrict the transferability of any of the Collateral or otherwise impair or conflict with such Grantor’s obligations or the rights of any Secured Party hereunder.
Claims Against Collateral. The Borrowers will not permit (i) to occur any attachment or distraint of any of the Loan Collateral or other security for the Obligations or (ii) any of the Loan Collateral or other security for the Obligations to become subject, at any time, to any mandatory court order or other legal process except for the attachment, distraint, court order or other legal process involving an amount less than One Hundred Thousand and 00/100 Dollars ($100,000.00); provided, however, that the Borrowers shall provide the Agent notice thereof promptly after receiving notice thereof or otherwise obtaining knowledge thereof.