Common use of Defense of Claims; Transferability of Collateral Clause in Contracts

Defense of Claims; Transferability of Collateral. Each Pledgor shall, at its own cost and expense, defend title to the ABL Priority Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Administrative Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Administrative Agent or any other Secured Party other than Liens permitted under Section 6.02 of the Credit Agreement. Each Pledgor shall, at its own cost and expense, use commercially reasonable efforts to defend title to the Non-ABL Priority Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Administrative Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein materially adverse to the Administrative Agent or any other Secured Party other than Liens permitted under Section 6.02 of the Credit Agreement. There is no agreement, order, judgment or decree, and, except as permitted under the Credit Agreement, no Pledgor shall enter into any agreement or take any other action, that would restrict the transferability of any of the Collateral or otherwise impair or conflict with such Pledgor’s obligations or the rights of the Administrative Agent hereunder.

Appears in 2 contracts

Samples: Security Agreement, Security Agreement (Aleris Corp)

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Defense of Claims; Transferability of Collateral. Each Subject to Section 6.04 of the Credit Agreement, the Pledgor shall, at its own cost and expense, defend title to the ABL Priority Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Administrative Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, Persons at any time claiming any interest therein adverse to the Administrative Agent or any other Secured Party Lender other than Liens permitted under Section 6.02 Permitted Liens. As of the Credit Agreement. Each Pledgor shalldate hereof, at its own cost and expense, use commercially reasonable efforts to defend title to the Non-ABL Priority Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Administrative Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein materially adverse to the Administrative Agent or any other Secured Party other than Liens permitted under Section 6.02 of the Credit Agreement. There there is no agreement, order, judgment or decree, and, except as permitted under and the Credit Agreement, no Pledgor shall not enter into any agreement or take any other action, that would restrict the transferability of any of the Collateral or otherwise impair or conflict with such the Pledgor’s obligations or the rights of the Administrative Agent hereunder. Upon delivery of any Collateral as provided in the Collateral Administration Agreement, the Borrower will have received all consents and approvals required by the terms of any item of Collateral for the transfer to the Collateral Administrator of the Borrower’s interest and rights in the Collateral hereunder and any exercise of the Administrative Agent’s rights and remedies hereunder.

Appears in 2 contracts

Samples: Security Agreement (American Capital, LTD), Security Agreement (American Capital Senior Floating, Ltd.)

Defense of Claims; Transferability of Collateral. Each Subject to Section 6.04 of the Credit Agreement, the Pledgor shall, at its own cost and expense, defend title to the ABL Priority Collateral pledged by it hereunder and the security interest therein and Lien Xxxxx thereon granted to the Administrative Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, Persons at any time claiming any interest therein adverse to the Administrative Agent or any other Secured Party Lender, other than Liens permitted under Section 6.02 of the Credit Agreement. Each Pledgor shall, at its own cost and expense, use commercially reasonable efforts to defend title to the Non-ABL Priority Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Administrative Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein materially adverse to the Administrative Agent or any other Secured Party other than Liens permitted under Section 6.02 of the Credit AgreementPermitted Liens. There is no agreement, order, judgment or decree, and, except as permitted under and the Credit Agreement, no Pledgor shall not enter into any agreement or take any other action, that would restrict the transferability of any of the Collateral or otherwise impair or conflict with such the Pledgor’s obligations or the rights of the Administrative Agent hereunder. Upon Delivery of any Collateral as provided in the Collateral Administration Agreement, the Pledgor will have received all consents and approvals required by the terms of any item of Collateral for the grant of a security interest and Lien to the Administrative Agent for the benefit of the Secured Parties pursuant to this Agreement in and on the Pledgor’s interest and rights in such Collateral, the Delivery of such Collateral to the Collateral Administrator and any exercise of the Administrative Agent’s rights and remedies hereunder.

Appears in 1 contract

Samples: Security Agreement (Owl Rock Core Income Corp.)

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Defense of Claims; Transferability of Collateral. Each Subject to Section 6.04 of the Credit Agreement, the Pledgor shall, at its own reasonable cost and expense, defend title to the ABL Priority Collateral pledged by it hereunder and the security interest therein therein, and Lien Liens thereon granted to the Administrative Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, Persons at any time claiming any interest therein adverse to the Administrative Agent or any other Secured Party Lender, other than Liens permitted under Section 6.02 of the Credit Agreement. Each Pledgor shall, at its own cost and expense, use commercially reasonable efforts to defend title to the Non-ABL Priority Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Administrative Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein materially adverse to the Administrative Agent or any other Secured Party other than Liens permitted under Section 6.02 of the Credit AgreementPermitted Liens. There is no agreement, order, judgment or decree, and, except as permitted under and the Credit Agreement, no Pledgor shall not enter into any agreement or take any other action, that would restrict the transferability of any of the Collateral or otherwise impair or conflict with such the Pledgor’s obligations or the rights of the Administrative Agent hereunder. Upon Delivery of any Collateral as provided in the Collateral Administration Agreement, the Pledgor will have received all consents and approvals required by the terms of any item of Collateral for the Delivery of such Collateral to the Collateral Administrator, the grant of a security interest and Lien to the Administrative Agent for the benefit of the Secured Parties pursuant to this Agreement in and on the Pledgor’s interest and rights in such Collateral, and any exercise of the Administrative Agent’s rights and remedies hereunder.

Appears in 1 contract

Samples: Security Agreement (Barings BDC, Inc.)

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