Common use of No Liens; Other Financing Statements Clause in Contracts

No Liens; Other Financing Statements. (a) Except for the Lien granted to the Collateral Agent hereunder, and except for Permitted Liens (other than Permitted Liens with respect to the Eligible Credit Facility), each Subsidiary Guarantor owns and, as to all Collateral whether now existing or hereafter acquired, will continue to own, each item of the Collateral free and clear of all Liens, rights and claims, and each Subsidiary Guarantor shall defend the Collateral against all claims and demands of all Persons at any time claiming the same or any interest therein adverse to the Collateral Agent on the Collateral entitled to priority therein under applicable law. (b) No financing statement or other evidence of Lien covering or purporting to cover any of the Collateral is on file and is effective in any public office other than (i) financing statements filed or to be filed in connection with the security interests granted to the Collateral Agent hereunder, (ii) financing statements for which proper, executed termination statements have been delivered to the Collateral Agent for filing; and (iii) financing statements filed by pre-petition creditors as set forth in the Company's Plan of Reorganization but which no longer evidence valid or existing security interests in the Collateral.

Appears in 1 contract

Samples: Subsidiary Security Agreement (Discovery Zone Inc)

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No Liens; Other Financing Statements. (a) Except for the Lien granted to the Collateral Agent hereunderhereunder for the benefit of itself and the other Secured Parties, and except for Permitted Liens (other than Permitted Liens with respect to the Eligible Credit Facility), each Subsidiary Guarantor owns Companies own and, as to all Collateral whether now existing or hereafter acquired, acquired will continue to own, each item of the Collateral free and clear of any and all Liens (other than Permitted Liens), rights and claims, and each Subsidiary Guarantor Company shall defend the Collateral against all claims and demands of all Persons at any time claiming the same or any interest therein adverse to the Collateral Agent or any other Secured Parties other than holders of Permitted Liens on the Collateral entitled to priority therein under applicable law. (b) No financing statement or other evidence of Lien covering or purporting to cover any of the Collateral is on file and is effective in any public office other than (i) financing statements filed or to be filed in connection with the security interests granted to the Collateral Agent hereunder, (ii) financing statements for which proper, executed termination statements have been delivered to the Collateral Agent for filing; filing and (iii) financing statements filed by pre-petition creditors as set forth in the Company's Plan of Reorganization but which no longer evidence valid or existing security interests in the Collateralconnection with Permitted Liens.

Appears in 1 contract

Samples: Subsidiary Security and Pledge Agreement (Terex Corp)

No Liens; Other Financing Statements. (a) Except for the Lien granted to the Collateral Agent hereunderhereunder for the benefit of the Secured Parties, and except for Permitted Liens (other than Permitted Liens with respect to the Eligible Credit Facility), each Subsidiary Guarantor owns Grantors own and, as to all Collateral whether now existing or hereafter acquired, acquired will continue to own, each item of the Collateral free and clear of any and all Liens (other than Permitted Liens, rights and claims), and each Subsidiary Guarantor the Grantors shall defend the Collateral against all claims and demands of all Persons at any time claiming the same or any interest therein adverse to the Collateral Agent any Secured Parties other than holders of Permitted Liens on the Collateral entitled to priority therein under applicable law. (b) No financing statement or other evidence of Lien covering or purporting to cover any of the Collateral is on file and is effective in any public office other than (i) financing statements filed or to be filed in connection with the security interests granted to the Collateral Agent hereunder, (ii) financing statements for which proper, executed termination statements have been delivered to the Collateral Agent for filing; filing and (iii) financing statements filed by pre-petition creditors as set forth in the Company's Plan of Reorganization but which no longer evidence valid or existing security interests in the Collateralconnection with Permitted Liens.

Appears in 1 contract

Samples: Security and Pledge Agreement (Fitzgeralds Gaming Corp)

No Liens; Other Financing Statements. (a) Except for the Lien granted to the Collateral Agent hereunderhereunder for the benefit of itself and the other Secured Parties, and except for Permitted Liens (other than Permitted Liens with respect to the Eligible Credit Facility), each Subsidiary Guarantor Company owns and, as to all Collateral whether now existing or hereafter acquired, acquired will continue to own, each item of the Collateral free and clear of any and all Liens (other than Permitted Liens), rights and claims, and each Subsidiary Guarantor the Company shall defend the Collateral against all claims and demands of all Persons at any time claiming the same or any interest therein adverse to the Collateral Agent or any other Secured Parties other than holders of Permitted Liens on the Collateral entitled to priority therein under applicable law. (b) No financing statement or other evidence of Lien covering or purporting to cover any of the Collateral is on file and is effective in any public office other than (i) financing statements filed or to be filed in connection with the security interests granted to the Collateral Agent hereunder, (ii) financing statements for which proper, executed termination statements have been delivered to the Collateral Agent for filing; filing and (iii) financing statements filed by pre-petition creditors as set forth in the Company's Plan of Reorganization but which no longer evidence valid or existing security interests in the Collateralconnection with Permitted Liens.

Appears in 1 contract

Samples: Security and Pledge Agreement (Terex Corp)

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No Liens; Other Financing Statements. (a) Except for the Lien granted to the Collateral Agent hereunder, and except for Permitted Liens (other than Permitted including, without limitation, Liens with respect to securing the Existing Notes and the Eligible Credit Facility), each Subsidiary Guarantor owns and, as to all Collateral whether now existing or hereafter acquired, will continue to own, each item of the Collateral free and clear of all Liens, rights and claims, and each Subsidiary Guarantor shall defend the Collateral against all claims and demands of all Persons at any time claiming the same or any interest therein adverse to the Collateral Agent on the Collateral entitled to priority therein under applicable law. (b) No financing statement or other evidence of Lien covering or purporting to cover any of the Collateral is on file and is effective in any public office other than for Permitted Liens which shall include, without limitation, (i) financing statements filed or to be filed in connection with the security interests granted to the Collateral Agent hereunder, ; (ii) financing statements for which proper, executed termination statements have been delivered to the Collateral Agent for filing; and (iii) financing statements filed by pre-petition creditors as set forth in connection with the Company's Plan of Reorganization but which no longer evidence valid or existing security interests in Existing Notes and the CollateralEligible Credit Facility.

Appears in 1 contract

Samples: Subsidiary Security Agreement (Discovery Zone Inc)

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