Indebtedness; Liens. Other than as permitted pursuant to Section 8.1, the Borrowers and their Subsidiaries have no Indebtedness. Other than as permitted pursuant to Section 8.2, none of the properties of the Borrowers and their Subsidiaries is subject to any Lien. All filings, recordings, registrations, third party consents and other actions to be taken by the Obligors that are necessary to create and perfect the Liens provided for in the Security Documents have been or will be made, obtained and taken in all relevant jurisdictions in a timely manner, and the provisions of the Security Documents are effective to create in favor of the Collateral Agent for the benefit of the Secured Parties a Security Interest (subject to the Liens permitted by Section 8.2) on all right, title and interest of each Obligor in the Collateral described therein.
Appears in 5 contracts
Samples: Credit Agreement (Transatlantic Petroleum Ltd.), Credit Agreement (Transatlantic Petroleum Ltd.), Credit Agreement (Transatlantic Petroleum Ltd.)
