Common use of Instruments, Chattel Paper, Collateral Notes, and Collateral Note Security Clause in Contracts

Instruments, Chattel Paper, Collateral Notes, and Collateral Note Security. All chattel paper and Instruments, including the Collateral Notes, have been delivered to Administrative Agent, together with corresponding endorsements duly executed by the appropriate Grantor in favor of Administrative Agent, and such endorsements have been duly and validly executed and are binding and enforceable against such Grantor in accordance with their terms. Each Grantor has title to its respective Instruments, chattel paper, Collateral Notes, and Collateral Note Security.