Common use of Ownership and Authority Clause in Contracts

Ownership and Authority. Each Debtor is the sole legal and beneficial owner of the Collateral (or, in the case of after-acquired Collateral, at the time a Debtor acquires rights in such Collateral, will be the sole legal and beneficial owner thereof) and has the right, power and authority to grant to the Administrative Agent the Security Interest in such Collateral pursuant hereto and to execute, deliver and perform its obligations in accordance with the terms of this Agreement. Each Debtor is not a party to any material license or any material lease that contains legally enforceable restrictions on the granting of a security interest therein.

Ownership and Authority. Each The Debtor is the sole legal and beneficial owner of the Collateral (or, in the case of after-acquired Collateral, at the time a the Debtor acquires rights in such Collateral, will be the sole legal and beneficial owner thereof) and has the right, power and authority to grant to the Administrative Agent the Security Interest in such Collateral pursuant hereto and to execute, deliver and perform its obligations in accordance with the terms of this Agreement. Each The Debtor is not a party to any material license or any material lease that contains legally enforceable restrictions on the granting of a security interest therein.

Ownership and Authority. Each Debtor is the sole legal and beneficial owner of the Collateral (or, in the case of after-acquired Collateral, at the time a such Debtor acquires rights in such Collateral, will be the sole legal and beneficial owner thereof) and has the right, power and authority to grant to the Administrative Agent Secured Party the Security Interest in such Collateral pursuant hereto and to execute, deliver and perform its obligations in accordance with the terms of this Agreement. Each Debtor is not a party to any material license or any material lease that contains legally enforceable restrictions on the granting of a security interest therein.

Ownership and Authority. Each Debtor is the sole legal and beneficial owner of the Collateral in which it now has rights (or, in the case of after-acquired Collateral, at the time a any Debtor acquires rights in such Collateral, will be the sole legal and beneficial owner thereof) and has the right, power and authority to grant to the Administrative Agent the Security Interest Secured Party a security interest in such Collateral pursuant hereto and to execute, deliver and perform its obligations in accordance with the terms of this Agreement. Each No Debtor is not a party to any material license or any material lease that contains legally enforceable restrictions on the granting of a security interest therein.