Common use of Letter-of-Credit Rights and Chattel Paper Clause in Contracts

Letter-of-Credit Rights and Chattel Paper. Exhibit C lists all Letter-of-Credit Rights and Chattel Paper of such Grantor. All action by such Grantor necessary or desirable to protect and perfect the Administrative Agent’s Lien on each item listed on Exhibit C with a face amount in excess of $500,000 (including the delivery of all originals and the placement of a legend on all Chattel Paper as required hereunder) has been duly taken. To the extent required by the prior sentence, the Administrative Agent will have a fully perfected first priority security interest in the Collateral listed on Exhibit C, subject only to Liens permitted under Section 4.1(e).

Appears in 2 contracts

Samples: Pledge and Security Agreement (PLAYSTUDIOS, Inc.), Pledge and Security Agreement (PLAYSTUDIOS, Inc.)

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Letter-of-Credit Rights and Chattel Paper. Exhibit C lists all Letter-of-Credit Rights and Chattel Paper of such GrantorGrantor with a value of $100,000 individually. All action by such Grantor necessary or desirable to protect and perfect the Administrative Agent’s Lien on each item listed on Exhibit C with a face amount in excess of $500,000 (including the delivery of all originals and the placement of a legend on all Chattel Paper as required hereunder) has been duly taken. To the extent required by the prior sentence, the The Administrative Agent will have a fully perfected first priority security interest in the Collateral listed on Exhibit C, subject only to Liens permitted under Section 4.1(e).

Appears in 1 contract

Samples: Pledge and Security Agreement (Chefs' Warehouse, Inc.)

Letter-of-Credit Rights and Chattel Paper. Exhibit C lists all Letter-of-Credit Rights and Chattel Paper of such Grantor, individually in an amount in excess of $500,000. All action by such Grantor necessary or desirable to protect and perfect the Administrative Agent’s Lien on each item listed on Exhibit C with a face amount in excess of $500,000 (including the delivery of all originals and the placement of a legend on all Chattel Paper as required hereunder) has been duly taken. To the extent required by the prior sentence, the The Administrative Agent will have a fully perfected first priority security interest in the Collateral listed on Exhibit C, subject only to Liens permitted under Section 4.1(e).

Appears in 1 contract

Samples: Pledge and Security Agreement (Mgi Pharma Inc)

Letter-of-Credit Rights and Chattel Paper. Exhibit C lists all Letter-of-Credit Rights and Chattel Paper of such GrantorGrantor with a value $1,000,000 or more individually. All action by such Grantor necessary or desirable to protect and perfect the Administrative Agent’s Lien on each item listed on Exhibit C with a face amount in excess of $500,000 (including the delivery of all originals and the placement of a legend on all Chattel Paper as required hereunder) has been duly taken. To the extent required by the prior sentence, the The Administrative Agent will have a fully perfected first priority security interest in the Collateral listed on Exhibit C, subject only to Liens permitted under Section 4.1(e)Permitted Encumbrances.

Appears in 1 contract

Samples: Pledge and Security Agreement (Chefs' Warehouse, Inc.)

Letter-of-Credit Rights and Chattel Paper. Exhibit C lists all Letter-of-Credit Rights and Chattel Paper constituting Collateral of such Grantor. All action by such Grantor necessary or desirable to protect and perfect the Administrative Agent’s Lien on each item listed on Exhibit C with a face amount in excess of $500,000 (including the delivery of all originals and the placement of a legend on all Chattel Paper as required hereunder) has been duly taken. To Upon the extent required by the prior sentencetaking of such actions, the Administrative Agent will have a fully perfected first priority security interest in the Collateral listed on Exhibit C, subject only to Liens permitted under Section 4.1(e).

Appears in 1 contract

Samples: Pledge and Security Agreement (Aleris Corp)

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Letter-of-Credit Rights and Chattel Paper. Exhibit C lists all Letter-of-Credit Rights and Chattel Paper Paper, in each case, with a face amount in excess of $100,000, of such Grantor. All action by such Grantor necessary or desirable to protect and perfect the Administrative AgentLender’s Lien on each item listed on Exhibit C with a face amount in excess of $500,000 (including the delivery of all originals and the placement of a legend on all Chattel Paper as required hereunder) has been duly taken. To the extent required by the prior sentence, the Administrative Agent The Lender will have a fully perfected first priority security interest in the Collateral listed on Exhibit C, subject only to Liens permitted under Section 4.1(e).

Appears in 1 contract

Samples: Pledge and Security Agreement (Franklin Covey Co)

Letter-of-Credit Rights and Chattel Paper. Exhibit C lists all Letter-of-Credit Rights and Chattel Paper of such GrantorGrantor having a value in excess of $2,000,000. All action by such Grantor necessary or desirable to protect and perfect the Administrative Agent’s Lien on each item listed on Exhibit C with a face amount in excess of $500,000 (including the delivery of all originals and the placement of a legend on all Chattel Paper as required hereunder) has has, to the extent requested by the Administrative Agent, been duly taken. To the extent required by the prior sentence, the The Administrative Agent will have a fully perfected first priority security interest in the Collateral listed on Exhibit C, subject only to Liens permitted under Section 4.1(e4.1(f).

Appears in 1 contract

Samples: Pledge and Security Agreement (Altra Holdings, Inc.)

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