Liens Against Collateral Sample Clauses
The "Liens Against Collateral" clause defines the rules and restrictions regarding the creation or existence of liens on assets pledged as collateral in a transaction. Typically, this clause prohibits the borrower from allowing any third-party claims, security interests, or encumbrances on the collateral, except for those expressly permitted by the agreement. For example, it may allow certain statutory liens or those in favor of the lender but bar all others. The core function of this clause is to protect the lender’s security interest by ensuring that the collateral remains unencumbered and fully available to satisfy the borrower’s obligations if necessary.
Liens Against Collateral. Borrower shall not and shall cause each other Loan Party not to create or suffer to exist any Liens upon or with respect to, any Collateral except for Liens permitted under the Loan Documents (including, without limitation, Permitted Liens).
Liens Against Collateral. Borrower shall not and shall cause each other Loan Party not to create or suffer to exist any Liens upon or with respect to, any Collateral (other than the Properties) except for Liens permitted under the Loan Documents (including, without limitation, Permitted Liens and Liens that are being contested in good faith as expressly permitted under this Agreement). Except to the extent of any notice delivered pursuant to Section 4.4.2, Borrower shall give prompt written notice, but in any event within ten (10) Business Days, to Lender upon ▇▇▇▇▇▇▇▇’s receipt of written notice, or the Knowledge of any Responsible Officer of Borrower, of any Lien affecting any Collateral or any interest therein, or any direct or indirect interest in Borrower or any other Loan Party (other than any Permitted Lien). Further, Borrower shall give prompt written notice, but in any event within ten (10) Business Days, to Lender upon the satisfaction and release of any Lien affecting any such Collateral of which Lender had received notice.
Liens Against Collateral. Any Lien in any of the Collateral which is granted, or intended by the Financing Documents to be granted, to the Bank ceases to be a valid, enforceable, perfected, first priority Lien, subject only to Permitted Liens and a first priority Lien on the Overland Park Property (as defined in the documents relating to the Domestic Financing) in favor of Mutual Service Life Insurance Company and a second priority Lien on the Olathe Property (as defined in the documents relating to the Domestic Financing) in favor of Johnson County Ce▇▇▇▇▇▇▇ Development Company;
Liens Against Collateral. Borrower shall not, and shall cause Equity Owner not to, create, incur, assume or suffer to exist any direct or indirect Lien upon any direct or indirect interest in any Collateral except for Liens under the Collateral Documents and Permitted Liens. Borrower shall take all necessary action to retain title to each Property and the related Collateral irrevocably in Borrower, free and clear of any Liens other than Permitted Liens. Borrower shall warrant and defend the title to each Property and every part thereof, subject only to Permitted Liens, in each case against the claims of all Persons whomsoever.
Liens Against Collateral. Borrower shall, except for the Permitted Encumbrances, keep the Collateral free and clear of any and all Liens other than Lender Liens.