Common use of Limitation on Liens; Defense of Claims; Transferability of Collateral Clause in Contracts

Limitation on Liens; Defense of Claims; Transferability of Collateral. Each Grantor is as of the date hereof, and, as to Collateral acquired by it from time to time after the date hereof, such Grantor will be, the sole direct and beneficial owner of all Collateral pledged by it hereunder free from any Lien or other right, title or interest of any Person other than the Liens and security interest created by this Security Agreement and Permitted Encumbrances. Each Grantor shall, at its own cost and expense, defend title to the Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all Persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Credit Party other than Permitted Encumbrances. There is no agreement, and no Grantor shall enter into any agreement or take any other action, that would restrict the transferability of any of the Collateral or otherwise impair or conflict with such Grantors’ obligations or the rights of the Collateral Agent hereunder; provided that entering into a lease arrangement with respect to Real Property located in a Landlord Lien State would not, in and of itself, violate this sentence.

Appears in 2 contracts

Samples: Security Agreement (Pacific Sunwear of California Inc), Security Agreement (Pacific Sunwear of California Inc)

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Limitation on Liens; Defense of Claims; Transferability of Collateral. Each Grantor is as of the date hereof, and, as to Collateral acquired by it from time to time after the date hereof, such Grantor will be, the sole direct and beneficial owner of all Collateral pledged by it hereunder free from any Lien or other right, title or interest of any Person other than the Liens and security interest created by this Security Agreement and Permitted Encumbrances. Each Grantor shall, at its own cost and reasonable expense, defend title to the Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all Persons, at its own cost and reasonable expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Credit Party other than Permitted Encumbrances. There Other than as permitted by the Credit Agreement, there is no agreement, and no Grantor shall enter into any agreement or take any other action, that would restrict the transferability of any of the Collateral or otherwise materially impair or conflict with such Grantors’ obligations or the rights of the Collateral Agent hereunder; provided that entering into a lease arrangement with respect to Real Property located in a Landlord Lien State would not, in and of itself, violate this sentence.

Appears in 2 contracts

Samples: Security Agreement (Abercrombie & Fitch Co /De/), Term Loan Security Agreement (Abercrombie & Fitch Co /De/)

Limitation on Liens; Defense of Claims; Transferability of Collateral. Each Grantor is as of the date hereof, and, as to Collateral acquired by it from time to time after the date hereof, such Grantor will be, the sole direct and beneficial owner of all Collateral pledged by it hereunder free from any Lien or other right, title or interest of any Person other than the Liens and security interest created by this Security Agreement and Permitted Encumbrances. Each Grantor shall, at its own cost and expense, defend title to the Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all Persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Canadian Credit Party other than Permitted Encumbrances. There is no agreement, and no Grantor shall not enter into any agreement or take any other action, that would restrict the transferability of any of the Collateral or otherwise impair or conflict with such Grantors’ Grantor’s obligations or the rights of the Collateral Agent hereunder; provided that entering into a lease arrangement with respect to Real Property located in a Landlord Lien State would not, in and of itself, violate this sentence.

Appears in 2 contracts

Samples: General Security Agreement (Sally Beauty Holdings, Inc.), Security Agreement (Sally Beauty Holdings, Inc.)

Limitation on Liens; Defense of Claims; Transferability of Collateral. Each Grantor is as of the date hereof, andGrantor, as to Collateral now owned by it or acquired by it from time to time after the date hereof, such Grantor is or will be, be the sole direct and beneficial owner of all such Collateral pledged by it hereunder free from any Lien or other right, title or interest of any Person other than the Liens and security interest created by this Security Agreement and Permitted Encumbrances. Each Grantor shall, at its own cost and expense, defend title to the Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all Persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Credit Secured Party other than Permitted Encumbrances. There is no agreement, and no Grantor shall enter into any agreement or take any other action, that would restrict the transferability of any of the Collateral or otherwise impair or conflict with such Grantors’ obligations or the rights of the Collateral Agent hereunder; provided that entering into a lease arrangement with respect to Real Property located in a Landlord Lien State would not, in and of itself, violate this sentence.

Appears in 2 contracts

Samples: Credit Agreement (Supervalu Inc), Intercreditor Agreement (Supervalu Inc)

Limitation on Liens; Defense of Claims; Transferability of Collateral. Each Grantor is as of the date hereof, andThe Grantor, as to Collateral now owned by it or acquired by it from time to time after the date hereof, such Grantor is or will be, be the sole direct and beneficial owner of all such Collateral pledged by it hereunder free from any Lien or other right, title or interest of any Person other than the Liens and security interest created by this Related Real Estate Collateral Security Agreement and Permitted Encumbrances. Each The Grantor shall, at its own cost and expense, defend title to the Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all Persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Credit Secured Party other than Permitted Encumbrances. There is no agreement, and no the Grantor shall not enter into any agreement or take any other action, that would restrict the transferability of any of the Collateral or otherwise impair or conflict with such Grantors’ the Grantor’s obligations or the rights of the Collateral Agent hereunder; provided that entering into a lease arrangement with respect to Real Property located in a Landlord Lien State would not, in and of itself, violate this sentence.

Appears in 1 contract

Samples: Credit Agreement (Supervalu Inc)

Limitation on Liens; Defense of Claims; Transferability of Collateral. Each Grantor is as of the date hereof, andGrantor, as to Collateral now owned by it or acquired by it from time to time after the date hereof, such Grantor is or will be, be the sole direct and beneficial owner of all such Collateral pledged by it hereunder free from any Lien or other right, title or interest of any Person other than the Liens and security interest created by this Related Real Estate Collateral Security Agreement and Permitted Encumbrances. Each Grantor shall, at its own cost and expense, defend title to the Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all Persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Credit Secured Party other than Permitted Encumbrances. There is no agreement, and no Grantor shall enter into any agreement or take any other action, that would restrict the transferability of any of the Collateral or otherwise impair or conflict with such Grantors’ obligations or the rights of the Collateral Agent hereunder; provided that entering into a lease arrangement with respect to Real Property located in a Landlord Lien State would not, in and of itself, violate this sentence.

Appears in 1 contract

Samples: Intercreditor Agreement (Supervalu Inc)

Limitation on Liens; Defense of Claims; Transferability of Collateral. Each Grantor is as of the date hereof, andGrantor, as to Collateral now owned by it or acquired by it from time to time after the date hereof, such Grantor is or will be, be the sole direct and beneficial owner of all such Collateral pledged by it hereunder free from any Lien or other right, title or interest of any Person other than the Liens and security interest created by this Related Real Estate Collateral Security Agreement and Permitted Encumbrances. Each Grantor shall, at its own cost and expense, defend title to the Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Administrative Agent and the priority thereof against all claims and demands of all Persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Administrative Agent or any other Credit Party other than Permitted Encumbrances. There is no agreement, and no Grantor shall not enter into any agreement or take any other action, that would restrict the transferability of any of the Collateral or otherwise impair or conflict with such Grantors’ Grantor’s obligations or the rights of the Collateral Administrative Agent hereunder; provided that entering into a lease arrangement with respect to Real Property located in a Landlord Lien State would not, in and of itself, violate this sentence.

Appears in 1 contract

Samples: Credit Agreement (Supervalu Inc)

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Limitation on Liens; Defense of Claims; Transferability of Collateral. Each Grantor is as of the date hereof, and, as to Collateral acquired by it from time to time after the date hereof, such Grantor will be, the sole direct and beneficial owner of all Collateral pledged by it hereunder free from any Lien or other right, title or interest of any Person other than the Liens and security interest created by this Security Agreement and Permitted Encumbrances. Each Grantor shall, at its own cost and expense, defend title to the Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all Persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Credit Party other than Permitted Encumbrances. There is no agreement, and no Grantor shall enter into any agreement or take any other action, that would restrict the transferability of any of the Collateral or otherwise impair or conflict with such Grantors’ obligations or the rights of the Collateral Agent hereunder; provided that entering into a lease arrangement with respect to Real Property located in a Landlord Lien State would not, in and of itself, violate this sentenceexcept as permitted under the Transaction Documents.

Appears in 1 contract

Samples: Security Agreement (Body Central Corp)

Limitation on Liens; Defense of Claims; Transferability of Collateral. Each Grantor is as of the date hereof, and, as to Collateral acquired by it from time to time after the date hereof, such Grantor will be, the sole direct and beneficial owner of all Collateral pledged by it hereunder free from any Lien or other right, title or interest of any Person other than the Liens and security interest created by this Security Agreement and Permitted Encumbrances. Each Grantor shall, at its own cost and expense, take any and all reasonable actions to defend title to the Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all Persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Credit Party other than Permitted Encumbrances. There is no agreement, and no Grantor shall enter into any agreement or take any other action, that would restrict the transferability of any of the Collateral or otherwise impair or conflict with such Grantors’ obligations or the rights of the Collateral Agent hereunder; provided that entering into a lease arrangement with respect to Real Property located in a Landlord Lien State would not, in and of itself, violate this sentence.

Appears in 1 contract

Samples: Security Agreement (Five Below, Inc)

Limitation on Liens; Defense of Claims; Transferability of Collateral. Each Grantor is is, as of the date hereof, and, as to Collateral acquired by it from time to time after the date hereof, such Grantor will be, the sole direct and beneficial owner of all Collateral pledged by it hereunder free from any Lien or other right, title or interest of any Person other than the Liens and security interest created by this Security Agreement and Permitted Encumbrances. Each Grantor shall, at its own cost and expense, defend title to the Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all Persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Credit Party other than (i) with respect to claims or demands regarding priority of Liens, Permitted Encumbrances having priority by operation of law, and (ii) with respect to all other claims and demands, Permitted Encumbrances. There is no agreement, and no Grantor shall enter into any agreement or take any other action, that would restrict the transferability of any of the Collateral or otherwise impair or conflict with such Grantors’ obligations or the rights of the Collateral Agent hereunder; provided that entering into a lease arrangement with respect to Real Property located in a Landlord Lien State would not, in and of itself, violate this sentence.

Appears in 1 contract

Samples: Security Agreement (Kirkland's, Inc)

Limitation on Liens; Defense of Claims; Transferability of Collateral. Each Grantor is as of the date hereof, andGrantor, as to Collateral now owned by it or acquired by it from time to time after the date hereof, such Grantor is or will be, be the sole direct and beneficial owner of all such Collateral pledged by it hereunder free from any Lien or other right, title or interest of any Person other than the Liens and security interest created by this Related Real Estate Collateral Security Agreement and Permitted Encumbrances. Each Grantor shall, at its own cost and expense, defend title to the Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Administrative Agent and the priority thereof against all claims and demands of all Persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Administrative Agent or any other Credit Party other than Permitted Encumbrances. There is no agreement, and no Grantor shall enter into any agreement or take any other action, that would restrict the transferability of any of the Collateral or otherwise impair or conflict with such Grantors’ obligations or the rights of the Collateral Administrative Agent hereunder; provided that entering into a lease arrangement with respect to Real Property located in a Landlord Lien State would not, in and of itself, violate this sentence.

Appears in 1 contract

Samples: Credit Agreement (Supervalu Inc)

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