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

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged 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 Permitted Liens. There is no agreement (other than with respect to a Permitted Lien), order, judgment or decree, and no Pledgor shall enter into any agreement (other than with respect to a Permitted Lien) or take any other action, that would restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict with such Pledgor’s obligations or the rights of the Administrative Agent hereunder.

Appears in 4 contracts

Samples: First Lien Security Agreement, Security Agreement (Fiesta Restaurant Group, Inc.), First Lien Security Agreement (Carrols Restaurant Group, Inc.)

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Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged 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 Permitted Liens permitted under the Second Lien Term Loan Agreement (other than Contested Liens). There is no agreement (other than with respect to a Permitted Lien), order, judgment or decreeagreement, and no Pledgor shall enter into any agreement (other than with respect to a Permitted Lien) or take any other action, that would restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict with such Pledgor’s Pledgors' obligations or the rights of the Administrative Agent hereunder.

Appears in 2 contracts

Samples: Security Agreement (Quest Resource Corp), Security Agreement (Quest Resource Corp)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged 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 Permitted Liens. There is no agreement (other than with respect to a Permitted Lien), order, judgment or decree, and no Pledgor shall enter into any agreement (other than with respect to a Permitted Lien) or take any other action, that would restrict the transferability transfer ability of any of the Pledged 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 (Carrols Restaurant Group, Inc.), Security Agreement

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged 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 Permitted Liens. There Except as permitted by the Credit Agreement (including incurring Permitted Liens), there is no agreement (other than with respect to a Permitted Lien), order, judgment or decreedecree to which any Pledgor is bound, and and, except for legitimate business reasons, no Pledgor shall enter into any agreement (other than with respect to a Permitted Lien) or take any other action, that would restrict the transferability of any material portion of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgor’s obligations or the rights of the Administrative Agent hereunder.

Appears in 2 contracts

Samples: Security Agreement (Wendy's/Arby's Restaurants, LLC), Security Agreement (Wendy's/Arby's Group, Inc.)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged 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 Permitted Liens. There Except as permitted by the Credit Agreement (including incurring Permitted Liens), there is no agreement (other than with respect to a Permitted Lien), order, judgment or decreedecree to which any Pledgor is bound, and and, except for legitimate business reasons, no Pledgor shall enter into any agreement (other than with respect to a Permitted Lien) or take any other action, that would would, in each case, restrict the transferability of any material portion of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgor’s obligations or the rights of the Administrative Agent hereunder.

Appears in 2 contracts

Samples: Control Agreement (Wendy's Co), Control Agreement (Wendy's Restaurants, LLC)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged 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 Permitted Liens permitted under the Third Lien Term Loan Agreement (other than Contested Liens). There is no agreement (other than with respect to a Permitted Lien), order, judgment or decreeagreement, and no Pledgor shall enter into any agreement (other than with respect to a Permitted Lien) or take any other action, that would restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict with such Pledgor’s Pledgors' obligations or the rights of the Administrative Agent hereunder.

Appears in 1 contract

Samples: Security Agreement (Quest Resource Corp)

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Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged 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 Permitted Liens permitted under the Third Lien Term Loan Agreement (other than Contested Liens). There is no agreement (other than with respect to a Permitted Lien), order, judgment or decreeagreement, and no Pledgor shall enter into any agreement (other than with respect to a Permitted Lien) or take any other action, that would restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict with such Pledgor’s Pledgors' obligations or the rights of the Administrative Agent hereunder, other than Restrictions on Pledged Interests.

Appears in 1 contract

Samples: Security Agreement (Quest Resource Corp)

Defense of Claims; Transferability of Pledged Collateral. Each Subject to Section 4.09 of the Indenture, each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Administrative Collateral 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 Collateral Agent or any other Secured Party other than Permitted Liens. There is no agreement (other than with respect to a Permitted Lien)agreement, order, judgment or decree, and no Pledgor shall enter into any agreement (other than with respect to a Permitted Lien) or take any other action, in each case, other than as permitted under the Indenture, that would restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict conflict, in any material respect, with such Pledgor’s obligations or the rights of the Administrative Collateral Agent hereunder.

Appears in 1 contract

Samples: Security Agreement (Hercules Offshore, Inc.)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged 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 Permitted Liens permitted under the Second Lien Term Loan Agreement (other than Contested Liens). There is no agreement (other than with respect to a Permitted Lien), order, judgment or decreeagreement, and no Pledgor shall enter into any agreement (other than with respect to a Permitted Lien) or take any other action, that would restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict with such Pledgor’s Pledgors' obligations or the rights of the Administrative Agent hereunder, other than Restrictions on Pledged Interests.

Appears in 1 contract

Samples: Security Agreement (Quest Resource Corp)

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