Common use of Claims Against Collateral Clause in Contracts

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 Loan Agreement. Except as expressly permitted by the Loan Agreement or any other Loan 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 with such Grantors’ obligations or the rights of the Collateral Agent hereunder.

Appears in 1 contract

Samples: Security Agreement (Medicine Man Technologies, Inc.)

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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 persons at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party other than Liens permitted under the Loan AgreementAgreements or Other Documents. Except as expressly permitted by the Loan Agreement Agreements or any other Loan Other Document, there is no agreement to which any Grantor is a partyagreement, 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 Collateral Agent hereunder.

Appears in 1 contract

Samples: Security Agreement (New Enterprise Stone & Lime Co., Inc.)

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 Loan AgreementIndenture. Except as expressly permitted by the Loan Agreement or any other Loan DocumentIndenture, 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 with such Grantors’ obligations or the rights of the Collateral Agent hereunder.

Appears in 1 contract

Samples: Security Agreement (Medicine Man Technologies, Inc.)

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 Administrative Agent with respect thereto against all claims and demands of all Persons at any time claiming any interest therein adverse to the Collateral 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 Loan 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 Collateral Administrative Agent hereunder.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Galaxy Gaming, Inc.)

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Claims Against Collateral. Each Grantor shall, at its own cost and expense, use commercially reasonable efforts to 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 persons at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party other than Liens permitted under the Loan AgreementAgreement or other Loan Documents. Except as expressly permitted by the Loan Agreement or any other Loan Document, there is no agreement to which any Grantor is a partyagreement, 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 Collateral Agent hereunder.

Appears in 1 contract

Samples: Security Agreement (New Enterprise Stone & Lime Co., Inc.)

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