Modification of Prior Security Interests. Pursuant to the Security Agreement (described below): (i) the Prior Warehouse Collateral Agent released (A) the security interest granted by ALF LP under the Prior Security Agreement (including the Prior Warehouse Collateral Agent’s security interest in the Alabama UTI Certificate) and (B) the security interests granted by World Omni and ALF LP under the Prior Back-Up Security Agreement; and (ii) WOLT, as Borrower, granted to ALHC, as Closed-End Collateral Agent, a security interest in all Closed-End Leases and Closed-End Vehicles allocated to the Closed-End Collateral Specified Interest, together with certain related rights and assets, to secure the Borrower’s obligations under the Warehouse Facilities and certain other Secured Obligations.
Appears in 4 contracts
Samples: Collateral Agency Agreement (World Omni LT), Collateral Agency Agreement (World Omni LT), Collateral Agency Agreement (World Omni LT)