Lien on Collateral Sample Clauses
A Lien on Collateral clause establishes the lender's legal right to claim specific assets of the borrower as security for a loan or obligation. In practice, this means that if the borrower defaults on their obligations, the lender can seize or sell the designated collateral, such as property, equipment, or inventory, to recover the outstanding debt. This clause is essential for protecting the lender's interests by providing a clear mechanism for recouping losses in the event of non-payment or breach of contract.
Lien on Collateral. The Borrower shall, at its sole cost and expense, perform all acts and execute all documents requested by the Lender at any time to evidence, perfect, maintain and enforce the Lender's security interest and the first priority thereof in the Collateral. Upon the Lender's request, at any time and from time to time, the Borrower shall, at its sole cost and expense, execute and deliver to the Lender one or more financing statements (in form and substance satisfactory to the Lender) pursuant to the Code and, where permitted by law, the Borrower hereby authorizes the Lender to execute and file one or more financing statements signed only by the Lender or to file a copy of this Agreement as a financing statement.
Lien on Collateral. The Security Interest granted to the Secured Party pursuant to this Security Agreement constitutes and creates a valid and continuing lien on and security interest in the Collateral in favor of the Secured Party, prior to all other liens, encumbrances, security interests, chattel mortgages, privileges, statements of assignment and rights of others, except as permitted by paragraph 4(j) hereof. The Security Agreement is enforceable as such as against any third parties, including, without limitation, any owner of real property in any state where any of the Collateral is or may hereafter be located and as against any purchaser of such real property and any present or future creditor obtaining a lien on such real property. All action necessary or desirable to perfect the Security Interest in each item of the Collateral in each state in which any item of Collateral is or will be located has been or will forthwith be duly taken,
Lien on Collateral. Lender shall have been provided with evidence satisfactory to it that the Mortgage and security interests granted to Lender pursuant to the Mortgage and the other Loan Documents, are valid and enforceable liens on the Collateral described therein, subject only to such liens, encumbrances and mortgages, if any, approved by Lender and described on Exhibit A hereto.
Lien on Collateral. Upon the recording of this Deed of Trust, the filing of financing statements pursuant to the UCC, and the taking of possession as to certain portions of the Trust Property as herein provided, Beneficiary shall have a valid first, prior and, to the extent that perfection can be accomplished by such recording, filing or possession, perfected lien and security interest on the Trust Property, free and clear of all liens, except the Permitted Encumbrances.
Lien on Collateral. The Lender’s security interest in and Lien on the Collateral constitutes and shall at all times constitute a Lien having the priority with respect to certain types of Collateral as specified in this Agreement. Borrower is the absolute owner of the Collateral with full right to pledge, sell, consign, transfer and create a security interest in the same, free and clear of any and all claims in favor of others (other than as provided herein) and no financing statement naming Borrower as debtor is on file in any office except with respect to Permitted Liens.
Lien on Collateral. The Lender’s security interest in and Lien on the Collateral constitutes and shall at all times constitute a Lien having the priority with respect to certain types of Collateral as specified in the Amended and Restated Intercreditor Agreement. Borrower is the absolute owner of the Collateral with full right to pledge, sell, consign, transfer and create a security interest in the same, free and clear of any and all claims in favor of others (other than as provided in the Amended and Restated Intercreditor Agreement) and no financing statement naming Borrower as debtor is on file in any office except only to perfect Permitted Liens of the Parties to the Amended and Restated Intercreditor Agreement, as specified therein. Borrower has previously authorized the filing of financing statements sufficient when filed to perfect the Lender’s security interest in the Collateral and other Liens created by the Security Documents. None of the Collateral is or will become a fixture on real estate, unless a sufficient fixture filing has been filed with respect to such Collateral.
Lien on Collateral. Any Lien created under the Security Agreement for any reason ceases to be or is not a valid and perfected Lien on the Collateral constituting a first priority security interest, other than the Liens expressly permitted under the Security Agreement, or there shall have occurred waste or conversion of a material part of the Collateral.”
(d) Section 9.2 is hereby amended and restated to read in its entirety as follows:
Lien on Collateral. The Ground Lessor Trust Deed and other applicable Loan Documents shall constitute and create a valid first lien upon the Collateral, free of any prior mechanic's liens or materialmen's liens or special assessments for work completed or under construction on or before the Closing Date, subject only to the Permitted Encumbrances. The Ground Lease and the Borrower Trust Deed shall constitute and create a valid second lien and third lien, respectively, upon the Collateral, free of any prior mechanic's liens or materialmen's liens or special assessments for work completed or under construction on or before the Closing Date, subject only to the Permitted Encumbrances.