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

Letter-of-Credit Rights and Chattel Paper. Exhibit C lists as of the Closing Date all of Grantor’s Letter-of-Credit Rights and Chattel Paper. All action by the Grantor necessary to protect and perfect the Lender’s security interest and Liens on each item listed on Exhibit C (including, without limitation, the delivery of all originals and the placement of a legend on all Chattel Paper as required hereunder) has been duly taken. The Lender will have a fully perfected first priority security interest and Lien in the Collateral listed on Exhibit C, subject only to Liens permitted under Section 4.1(e).

Letter-of-Credit Rights and Chattel Paper. Exhibit C lists as of the Closing Date all of Grantor’s Letter-of-Credit Rights and Chattel PaperPaper of the Grantor as of the Closing Date. All action by the Grantor necessary to protect and perfect the Lender’s security interest and Liens Lien on each item listed on Exhibit C (including, without limitation, including the delivery of all originals and the placement of a legend on all Chattel Paper as required hereunder) has been duly taken. The Lender will have a fully perfected first priority security interest and Lien in the Collateral listed on Exhibit C, subject only to Liens permitted under Section 4.1(e).