Common use of Grant of Liens Clause in Contracts

Grant of Liens. Cause all property (other than Excluded Property) of each Loan Party to be subject at all times to first priority, perfected and, in the case of owned real property with a value in excess of the Threshold Amount, title insured Liens in favor of the Administrative Agent, for the benefit of the holders of the Obligations, to secure the Obligations pursuant to the Collateral Documents (subject to Permitted Liens) and, in connection with the foregoing, deliver to the Administrative Agent such other documentation as the Administrative Agent may request including filings and deliveries necessary to perfect such Liens, Organization Documents, resolutions, real estate title insurance policies, surveys, environmental reports, landlord’s waivers and opinions of outside legal counsel to such Person, all in form, content and scope reasonably satisfactory to the Administrative Agent.

Grant of Liens. Cause all property (other than Excluded Property) of each Loan Party to be subject at all times to first priority, perfected and, in the case of owned real property with a value in excess of the Threshold Amount(whether leased or owned), title insured Liens in favor of the Administrative Agent, for the benefit of the holders of the Obligations, to secure the Obligations pursuant to the Collateral Documents (subject to Permitted Liens) and, in connection with the foregoing, deliver to the Administrative Agent such other documentation as the Administrative Agent may request including filings and deliveries necessary to perfect such Liens, Organization Documents, resolutions, real estate title insurance policies, surveys, environmental reports, landlord’s waivers and favorable opinions of outside legal counsel to such Person, all in form, content and scope reasonably satisfactory to the Administrative Agent.