Common use of General Covenants and Representations Clause in Contracts

General Covenants and Representations. Grantor covenants, represents and warrants that as of the date hereof and at all times thereafter during the term hereof: ( a) Grantor is seized of an indefeasible estate in fee simple in that portion of the Property which is real property, and has good and absolute title to it and the balance of the Property free and clear of all liens, security interests, charges and encumbrances whatsoever, except for (i) the First Deed of Trust (as hereinafter defined), (ii) Collateral Permitted Liens (as such term is defined in the Notes Indenture until the full repayment of the Notes and the release of the Notes Beneficiary's interest in this Deed of Trust, and thereafter, as defined in the Bond Loan Agreement), and (iii) Permitted Encumbrances (as hereinafter defined) (such liens, security interests, charges and encumbrances described in subsections (i) through (iii) above being hereinafter referred collectively to as the "AUTHORIZED LIENS"); this Deed of Trust creates valid, enforceable second priority liens against the Property constituting real property subject only to (y) those liens, security interests, charges and encumbrances set forth on Schedule B of the loan policy of title insurance delivered to the Beneficiaries insuring the lien of this Deed of Trust, and (z) those liens, security interests, charges and encumbrances expressly permitted or consented to by the Beneficiaries, including, without limitation, the liens referred to in Section 4.12 hereof (such liens, security interests, charges and encumbrances described in subsections (y) and (z) above being hereinafter referred collectively to as the "PERMITTED ENCUMBRANCES"), which Permitted Encumbrances shall include the licenses, covenants, restrictions, easements and rights of way granted from time to time by Grantor for utilities, pipelines, egress and ingress servicing or benefiting the Property and/or other property owned, leased or occupied by Grantor, any affiliate of Grantor, or any successor or assignee of Grantor or any affiliate of Grantor, under that certain Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated as of October 25, 2001 as recorded with the Clerk of the County Commission of Xxxxxxx County, West Virginia (the "CLERK'S OFFICE") in Lease Book 36, at Page 633, as amended under that certain First Amendment to Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated as of October 26, 2001 and recorded in the Clerk's Office in Lease Book 36, at Page 685 and re-recorded in the Clerk's Office in Lease Book 37, at page 5, and as further amended under that certain Second Amendment to Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated May 14, 2002 and recorded in the Clerk's Office in Lease Book 37, at Page 26; and (b) Grantor will maintain and preserve the lien of this Deed of Trust as a second priority lien on the Property, subject only to the Permitted Encumbrances, until Borrower's Liabilities have been paid in full and all obligations of Grantor under the Debt Instruments have been fully satisfied.

General Covenants and Representations. Grantor covenants, represents and warrants that as of the date hereof and at all times thereafter during the term hereof: ( a) Grantor is seized of an indefeasible estate in fee simple in that portion of the Property which is real property, and has good and absolute title to it and the balance of the Property free and clear of all liens, security interests, charges and encumbrances whatsoever, except for (i) the First Deed of Trust (as hereinafter defined), (ii) Collateral Permitted Liens (as such term is defined in the Notes Indenture until Indenture) (including the full repayment of the Notes and the release of the Notes Beneficiary's interest in this City Deed of Trust, ) and thereafter, as defined in the Bond Loan Agreement), and (iii) Permitted Encumbrances (as hereinafter defined) (such liens, security interests, charges and encumbrances described in subsections (i) through (iii) above being hereinafter referred collectively to as the "AUTHORIZED LIENS"); this Deed of Trust creates valid, enforceable second priority liens against the Property constituting real property subject only to (y) those liens, security interests, charges and encumbrances set forth on Schedule B of the loan policy of title insurance delivered to the Beneficiaries accepted by Chase insuring the lien of this Deed of Trust, and (z) those liens, security interests, charges and encumbrances expressly Trust permitted or consented to by the Beneficiaries, including, without limitation, the liens referred to in Section 4.12 hereof Chase (such liens, security interests, charges and encumbrances described in subsections (y) and (z) above being hereinafter referred collectively to as the "PERMITTED ENCUMBRANCES"), which Permitted Encumbrances shall include the licenses, covenants, restrictions, easements and rights of way granted from time to time by Grantor for utilities, pipelines, egress and ingress servicing or benefiting the Property and/or other property owned, leased or occupied by Grantor, any affiliate of Grantor, or any successor or assignee of Grantor or any affiliate of Grantor, under that certain Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated as of October 25____________, 2001 as recorded with the Clerk of the County Commission of Xxxxxxx County, West Virginia (the "CLERK'S OFFICE") in Lease Book 36, at Page 633, as amended under that certain First Amendment to Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated as of October 26, 2001 and recorded in the Clerk's Office in Lease Book 36, at Page 685 and re-recorded in the Clerk's Office in Lease Book 37, at page 5, and as further amended under that certain Second Amendment to Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated May 14, 2002 and recorded in the Clerk's Office in Lease Book 37, at Page 262001; and (b) Grantor will maintain and preserve the lien of this Deed of Trust as a second priority first and paramount lien on the Property, subject only to the Permitted EncumbrancesEncumbrances and Permitted Liens (including the City Deed of Trust) , until Borrower's Liabilities have been paid in full and all obligations of Grantor Chase under the Debt Indenture Instruments have been fully satisfiedterminated.

General Covenants and Representations. Grantor Trustor covenants, represents and warrants that as of the date hereof and at all times thereafter during the term hereof: ( a) Grantor Trustor is seized of an indefeasible estate in fee simple in that portion of the Property which is real property, and has good and absolute title to it and the balance of the Property free and clear of all liens, security interests, charges and encumbrances whatsoever, except for (i) the First Deed Agreement of Trust Lease dated June 1, 1979 between Hugh M. Hefner and Playboy Enterprises, Inc. (Trustor's predecessxx xx xxxxxx) (said Agreement of Lease, as amended from time to time, being hereinafter definedreferred to as the "Hefner Lease"), ; (ii) Collateral Permitted Liens any deed of trust securing the Senior Securex Xxxx Debt (as such term is defined in the Notes Indenture until the full repayment of the Notes and the release of the Notes Beneficiary's interest in this Deed of Trust, and thereafter, as defined in the Bond Loan Credit Agreement), and (iii) Permitted Encumbrances (as hereinafter defined) (such liens, security interests, charges and encumbrances described in subsections (i) through (iii) above deed of trust being hereinafter referred collectively to as the "AUTHORIZED LIENSJunior Deed of Trust"); this Deed of Trust creates valid, enforceable second priority liens against (iii) any option agreement that may be entered into between Trustor and Hugh M. Hefner (or any entity controlled by Hugh M. Hefner) grantxxx Xxxx X. Xxfner (or any entity controlled xx Xxxx X. Xxfner) an opxxxx xx xxxxxxe the Property constituting or any portion xxxxxxx (xxx "Option"); (iv) any lien securing real property subject only to estate taxes that are not at the time delinquent or are thereafter payable without penalty or that are being contested in accordance with the provisions of the Credit Agreement; and (yv) those liens, security interests, charges and encumbrances set forth on Schedule B of the loan policy of title insurance delivered to the Beneficiaries accepted by Agent insuring the lien of this Deed of Trust, and (z) those liens, security interests, charges and encumbrances expressly permitted or consented to by the Beneficiaries, including, without limitation, the liens referred to in Section 4.12 hereof Trust (such liens, security interests, charges and encumbrances described set forth in subsections clauses (yi), (ii), (iii), (iv) and (zv) above being hereinafter collectively referred collectively to as the "PERMITTED ENCUMBRANCESPermitted Encumbrances"), which Permitted Encumbrances shall include the licenses, covenants, restrictions, easements and rights of way granted from time to time by Grantor for utilities, pipelines, egress and ingress servicing or benefiting the Property and/or other property owned, leased or occupied by Grantor, any affiliate of Grantor, or any successor or assignee of Grantor or any affiliate of Grantor, under that certain Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated as of October 25, 2001 as recorded with the Clerk of the County Commission of Xxxxxxx County, West Virginia (the "CLERK'S OFFICE") in Lease Book 36, at Page 633, as amended under that certain First Amendment to Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated as of October 26, 2001 and recorded in the Clerk's Office in Lease Book 36, at Page 685 and re-recorded in the Clerk's Office in Lease Book 37, at page 5, and as further amended under that certain Second Amendment to Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated May 14, 2002 and recorded in the Clerk's Office in Lease Book 37, at Page 26; and (b) Grantor until the Loans and the Swap Obligations have been paid in full and all obligations of Agent and Lenders under the Credit Agreement have been terminated, Trustor will maintain and preserve the lien of this Deed of Trust as a second priority first and paramount lien on the Property, subject only to the Permitted Encumbrances, until Borrower's Liabilities have been paid in full except that this Deed of Trust shall be prior to the Hefner Lease, the Junior Deed of Trust and all obligations of Grantor under the Debt Instruments have been fully satisfiedOption.

General Covenants and Representations. Grantor covenants(a) The Corporation covenants with the Subscription Receipt Agent that so long as any Subscription Receipts remain outstanding: (i) it will use its reasonable best efforts to maintain its existence; (ii) it will take reasonable commercial best-efforts steps to ensure the Escrow Release Conditions are completed prior to the Deadline; (iii) it will make all requisite filings under applicable Canadian securities legislation including those necessary to remain a reporting issuer not in default in the provinces of British Columbia and Alberta; (iv) it will announce by press release the occurrence of the Release Time or the Termination Time, as the case may be, in accordance with Section 3.1 or Section 3.3(a), as the case may be; (v) it will perform and carry out all of the acts or things to be done by it as provided in this Agreement; (vi) prior to the earlier of the Release Date and the Termination Date, it will not sell the properties or assets of the Corporation as, or substantially as, an entirety, to any other entity other than to a wholly-owned subsidiary of the Corporation; (vii) it will reserve and keep available a sufficient number of Common Shares and Warrants for the purpose of enabling it to satisfy its obligations to issue Underlying Shares and Warrants pursuant to the Subscription Receipts; (viii) it will cause the Underlying Shares and Warrants issued pursuant to the Subscription Receipts to be duly issued as fully paid and non-assessable securities of the Corporation and delivered in accordance with the Subscription Receipts and the terms hereof; (ix) it will use its reasonable commercial efforts to ensure that (until the earlier of the date of the Release Notice and the Termination Date) the Common Shares continue to be listed and posted for trading on the NEX Board of the TSX Venture Exchange; and (b) The Corporation represents and warrants to the Subscription Receipt Agent that as of the date hereof and at all times thereafter during the term hereof: ( a) Grantor is seized of an indefeasible estate in fee simple in that portion execution of this Agreement, it does not have a class of securities registered pursuant to Section 12 of the Property which is real property, and has good and absolute title United States Securities Exchange Act of 1934 or have a reporting obligation pursuant to it and the balance Section 15(d) of the Property free and clear United States Securities Exchange Act of all liens, security interests, charges and encumbrances whatsoever, except for 1934. (c) The Corporation covenants with the Subscription Receipt Agent that in the event that (i) any class of its securities shall become registered pursuant to Section 12 of the First Deed Act or Corporation shall incur a reporting obligation pursuant to Section 15(d) of Trust (as hereinafter defined)the Act, or (ii) Collateral Permitted Liens any such registration or reporting obligation shall be terminated by the Corporation in accordance with the Act, the Corporation shall promptly deliver to the Subscription Receipt Agent, an Officers’ Certificate (as in a form satisfactory to the Subscription Receipt Agent, acting reasonably, notifying the Subscription Receipt Agent of such term is defined in the Notes Indenture until the full repayment of the Notes registration or termination and the release of the Notes Beneficiary's interest in this Deed of Trust, and thereafter, as defined in the Bond Loan Agreement), and (iii) Permitted Encumbrances (as hereinafter defined) (such liens, security interests, charges and encumbrances described in subsections (i) through (iii) above being hereinafter referred collectively to other information as the "AUTHORIZED LIENS"); this Deed of Trust creates valid, enforceable second priority liens against Subscription Receipt Agent may require at the Property constituting real property subject only time. The Corporation acknowledges that the Subscription Receipt Agent is relying upon the foregoing representation and covenants in order to (y) meet certain United States Securities and Exchange Commission obligations with respect to those liens, security interests, charges and encumbrances set forth on Schedule B of the loan policy of title insurance delivered to the Beneficiaries insuring the lien of this Deed of Trust, and (z) those liens, security interests, charges and encumbrances expressly permitted or consented to by the Beneficiaries, including, without limitation, the liens referred to in Section 4.12 hereof (such liens, security interests, charges and encumbrances described in subsections (y) and (z) above being hereinafter referred collectively to as the "PERMITTED ENCUMBRANCES"), which Permitted Encumbrances shall include the licenses, covenants, restrictions, easements and rights of way granted from time to time by Grantor for utilities, pipelines, egress and ingress servicing or benefiting the Property and/or other property owned, leased or occupied by Grantor, any affiliate of Grantor, or any successor or assignee of Grantor or any affiliate of Grantor, under that certain Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated as of October 25, 2001 as recorded clients who are filing with the Clerk of the County Commission of Xxxxxxx County, West Virginia (the "CLERK'S OFFICE") in Lease Book 36, at Page 633, as amended under that certain First Amendment to Master Declaration of Easements, Covenants United States Securities and Restrictions for Weirton, West Virginia Plant Site dated as of October 26, 2001 and recorded in the Clerk's Office in Lease Book 36, at Page 685 and re-recorded in the Clerk's Office in Lease Book 37, at page 5, and as further amended under that certain Second Amendment to Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated May 14, 2002 and recorded in the Clerk's Office in Lease Book 37, at Page 26; and (b) Grantor will maintain and preserve the lien of this Deed of Trust as a second priority lien on the Property, subject only to the Permitted Encumbrances, until Borrower's Liabilities have been paid in full and all obligations of Grantor under the Debt Instruments have been fully satisfiedExchange Commission.

General Covenants and Representations. Grantor covenants, represents and warrants that as of the date hereof and at all times thereafter during the term hereof: ( a) Grantor is seized of an indefeasible estate in fee simple in that portion of the Property which is real property, and has good and absolute title to it and the balance of the Property free and clear of all liens, security interests, charges and encumbrances whatsoever, except for (i) the First Deed of Trust (as hereinafter defined), (ii) Collateral Permitted Liens (as such term is defined in the Notes Indenture until the full repayment of the Notes and the release of the Notes Beneficiary's interest in this Deed of Trust, and thereafter, as defined in the Bond Loan Agreement), and (iii) Permitted Encumbrances (as hereinafter defined) (such liens, security interests, charges and encumbrances described in subsections (i) through (iii) above being hereinafter referred collectively to as the "AUTHORIZED LIENS"); this Deed of Trust creates valid, enforceable second priority liens against the Property constituting real property subject only to (y) those liens, security interests, charges and encumbrances set forth on Schedule B B, of the loan policy of title insurance delivered to the Beneficiaries insuring the lien of this Deed of Trust, and (z) those liens, security interests, charges and encumbrances expressly permitted or consented to by the Beneficiaries, including, without limitation, the liens referred to in Section 4.12 hereof (such liens, security interests, charges and encumbrances described in subsections (y) and (z) above being hereinafter referred collectively to as the "PERMITTED ENCUMBRANCES"), which Permitted Encumbrances shall include the licenses, covenants, restrictions, easements and rights of way granted from time to time by Grantor for utilities, pipelines, egress and ingress servicing or benefiting the Property and/or other property owned, leased or occupied by Grantor, any affiliate of Grantor, or any successor or assignee of Grantor or any affiliate of Grantor, under that certain Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated as of October 25, 2001 as recorded with the Clerk of the County Commission of Xxxxxxx County, West Virginia (the "CLERK'S OFFICE") in Lease Book 36, at Page 633, as amended under that certain First Amendment to Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated as of October 26, 2001 and recorded in the Clerk's Office in Lease Book 36, at Page 685 and re-recorded in the Clerk's Office in Lease Book 37, at page 5, and as further amended under that certain Second Amendment to Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated May 14, 2002 and recorded in the Clerk's Office in Lease Book 37, at Page 26; and (b) Grantor will maintain and preserve the lien of this Deed of Trust as a second priority lien on the Property, subject only to the Permitted Encumbrances, until Borrower's Liabilities have been paid in full and all obligations of Grantor under the Debt Instruments have been fully satisfied.

General Covenants and Representations. Grantor covenants, represents and warrants that as of the date hereof and at all times thereafter during the term hereof: ( a) Grantor is seized of an indefeasible estate in fee simple in that portion of the Property which is real property, and has good and absolute title to it and the balance of the Property free and clear of all liens, security interests, charges and encumbrances whatsoever, except for (i) the First Deed of Trust (as hereinafter defined), (ii) Collateral Permitted Liens (as such term is defined in the Notes Indenture until the full repayment of the Notes and the release of the Notes Beneficiary's interest in this Deed of Trust, and thereafter, as defined in the Bond Loan Agreement), and (iii) Permitted Encumbrances (as hereinafter defined) (such liens, security interests, charges and encumbrances described in subsections (i) through (iii) above being hereinafter referred collectively to as the "AUTHORIZED LIENS"); this Deed of Trust creates valid, enforceable second priority liens against the Property constituting real property subject only to (y) those liens, security interests, charges and encumbrances set forth on Schedule B [SCHEDULE B], of the loan policy of title insurance delivered to the Beneficiaries insuring the lien of this Deed of Trust, and (z) those liens, security interests, charges and encumbrances expressly permitted or consented to by the Beneficiaries, including, without limitation, the liens referred to in Section 4.12 hereof (such liens, security interests, charges and encumbrances described in subsections (y) and (z) above being hereinafter referred collectively to as the "PERMITTED ENCUMBRANCES"), which Permitted Encumbrances shall include the licenses, covenants, restrictions, easements and rights of way granted from time to time by Grantor for utilities, pipelines, egress and ingress servicing or benefiting the Property and/or other property owned, leased or occupied by Grantor, any affiliate of Grantor, or any successor or assignee of Grantor or any affiliate of Grantor, under that certain Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated as of October 25, 2001 as recorded with the Clerk of the County Commission of Xxxxxxx Hancock County, West Virginia (the "CLERK'S OFFICE") in Lease Book 36, at Page xx Xxge 633, as amended under that certain First Amendment to Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated as of October 26, 2001 and recorded in the Clerk's Office in Lease Book 36, at Page 685 and re-recorded in the Clerk's Office in Lease Book 37, at page 5685, and as further amended under that certain Second Amendment to Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated May 14as of ________, 2002 and recorded in the Clerk's Office in Lease Book 37___, at Page 26___; and ( b) Grantor will maintain and preserve the lien of this Deed of Trust as a second priority lien on the Property, subject only to the Permitted Encumbrances, until Borrower's Liabilities have been paid in full and all obligations of Grantor under the Debt Instruments have been fully satisfied.

General Covenants and Representations. Grantor Trustor covenants, represents and warrants that as of the date hereof and at all times thereafter during the term hereof: ( a) Grantor Trustor is seized of an indefeasible estate in fee simple in that portion of the Property which is real property, and has good and absolute title to it and the balance of the Property free and clear of all liens, security interests, charges and encumbrances whatsoever, except for (i) the First Deed Agreement of Trust Lease dated June 1, 1979 between Hugh M. Hefner and Playboy Enterprises, Inc. (Trustor's predecessox xx xxxxxx) (said Agreement of Lease, as amended from time to time, being hereinafter definedreferred to as the "Hefner Lease"), ; (ii) Collateral Permitted Liens any deed of trust securing the loans made purxxxxx to the Senior Loan Documents (such deed of trust being hereinafter referred to as the "Senior Deed of Trust"); (iii) any option agreement that may be entered into between Trustor and Hugh M. Hefner (or any entity controlled by Hugh M. Hefner) grantixx Xxxx X. Xxxner (or any entity controlled xx Xxxx X. Xxxner) an optxxx xx xxxxxxx the Property or any portion txxxxxx (xxx "Xption"); (iv) any lien securing real estate taxes that are not at the time delinquent or are thereafter payable without penalty or that are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have been provided in accordance with GAAP (as such term is defined in the Notes Indenture until the full repayment of the Notes and the release of the Notes Beneficiary's interest in this Deed of Trust, and thereafter, as defined in the Bond Loan Agreement), and (iii) Permitted Encumbrances (as hereinafter definedIndenture) (such liens, security interests, charges and encumbrances described in subsections (i) through (iii) above contest being hereinafter referred collectively to as the a "AUTHORIZED LIENSPemitted Contest"); this Deed of Trust creates valid, enforceable second priority liens against the Property constituting real property subject only to and (yv) those liens, security interests, charges and encumbrances set forth on Schedule B of the loan policy of title insurance delivered to the Beneficiaries accepted by Beneficiary insuring the lien of this Deed of Trust, and (z) those liens, security interests, charges and encumbrances expressly permitted or consented to by the Beneficiaries, including, without limitation, the liens referred to in Section 4.12 hereof Trust (such liens, security interests, charges and encumbrances described set forth in subsections clauses (yi), (ii), (iii), (iv) and (zv) above being hereinafter collectively referred collectively to as the "PERMITTED ENCUMBRANCESPermitted Encumbrances"), which Permitted Encumbrances shall include the licenses, covenants, restrictions, easements and rights of way granted from time to time by Grantor for utilities, pipelines, egress and ingress servicing or benefiting the Property and/or other property owned, leased or occupied by Grantor, any affiliate of Grantor, or any successor or assignee of Grantor or any affiliate of Grantor, under that certain Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated as of October 25, 2001 as recorded with the Clerk of the County Commission of Xxxxxxx County, West Virginia (the "CLERK'S OFFICE") in Lease Book 36, at Page 633, as amended under that certain First Amendment to Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated as of October 26, 2001 and recorded in the Clerk's Office in Lease Book 36, at Page 685 and re-recorded in the Clerk's Office in Lease Book 37, at page 5, and as further amended under that certain Second Amendment to Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated May 14, 2002 and recorded in the Clerk's Office in Lease Book 37, at Page 26; and (b) Grantor until the Notes have been paid in full and all obligations of Beneficiary and Issuer under the Indenture have been terminated, Trustor will maintain and preserve the lien of this Deed of Trust as a second priority lien on the Property, subject only to the Permitted Encumbrances, until Borrower's Liabilities have been paid in full except that this Deed of Trust shall be prior to the Hefner Lease and all obligations of Grantor under the Debt Instruments have been fully satisfiedOption.

General Covenants and Representations. Grantor covenants, represents and warrants that as of the date hereof and at all times thereafter during the term hereof: ( a) Grantor is seized of an indefeasible estate in fee simple in that portion of the Property which is real property, and has good and absolute title to it and the balance of the Property free and clear of all liens, security interests, charges and encumbrances whatsoever, except for (i) the First Deed of Trust (as hereinafter defined), (ii) Collateral Permitted Liens (as such term is defined in the Notes Indenture until the full repayment of the Notes and the release of the Notes Beneficiary's interest in this Deed of Trust, and thereafter, as defined in the Bond Loan Agreement), and (iii) Permitted Encumbrances (as hereinafter defined) (such liens, security interests, charges and encumbrances described in subsections (i) through (iii) above being hereinafter referred collectively to as the "AUTHORIZED LIENS"); this Deed of Trust creates valid, enforceable second priority liens against the Property constituting real property subject only to (y) those liens, security interests, charges and encumbrances set forth on Schedule B of the loan policy of title insurance delivered to the Beneficiaries accepted by Agent insuring the lien of this Deed of Trust, and (z) those liens, security interests, charges and encumbrances expressly Trust permitted or consented to by the Beneficiaries, including, without limitation, the liens referred to in Section 4.12 hereof Agent (such liens, security interests, charges and encumbrances described in subsections (y) and (z) above being hereinafter referred collectively to as the "PERMITTED ENCUMBRANCES"), which Permitted Encumbrances shall include Permitted Liens (as defined in the Loan Agreement) and the licenses, covenants, restrictions, easements and rights of way granted from time to time by Grantor for utilities, pipelines, egress and ingress servicing or benefiting the Property and/or other property owned, leased or occupied by Grantor, any affiliate of Grantor, or any successor or assignee of Grantor or any affiliate of Grantor, under that certain Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated as of October 25, 2001 as recorded with the Clerk of the County Commission of Xxxxxxx County, West Virginia (the "CLERK'S OFFICE") in Lease Book 36, at Page 633, 2001; as amended under that certain First Amendment to Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated as of October 26, 2001 and recorded in the Clerk's Office in Lease Book 36, at Page 685 and re-recorded in the Clerk's Office in Lease Book 37, at page 52001, and as further amended under that certain Second Amendment to Master Declaration of Easements, Covenants and Restrictions for Weirton, West Virginia Plant Site dated May 14as of _____________, 2002 and recorded in the Clerk's Office in Lease Book 37, at Page 262002; and (b) Grantor will maintain and preserve the lien of this Deed of Trust as a second priority first and paramount lien on the Property, subject only to the Permitted EncumbrancesEncumbrances (except that this Deed of Trust shall not be subject to any items shown on a schedule of subordinate items contained in said loan policy), until BorrowerXxxxxxxx's Liabilities have been paid in full and all obligations of Grantor Agent and Lenders under the Debt Instruments Loan Agreement have been fully satisfiedterminated.