Common use of Extent of Liens Clause in Contracts

Extent of Liens. All Liens granted to Agent under the Loan Documents are for the benefit of Secured Parties. Borrowers authorize Agent to file any financing statement that describes the Collateral as "all assets" or "all personal property" of Borrowers, or words to similar effect, and ratifies any action taken by Agent before the Closing Date to effect or perfect its Lien on any Collateral.

Extent of Liens. All Liens granted to Agent under the Loan Documents are for the benefit of Secured Parties. Borrowers authorize Agent to file any financing statement that describes the Collateral as "“all assets" ” or "“all personal property" ” of Borrowers, or words to similar effect, and ratifies any action taken by Agent before the Closing Date to effect or perfect its Lien on any Collateral.