Common use of Ownership and Defense of Title Clause in Contracts

Ownership and Defense of Title. (a) Except for Permitted Liens, each Borrower shall at all times be the sole owner or lessee of each and every item of Collateral and shall not create any lien on, or sell, lease, exchange, assign, transfer, pledge, hypothecate, grant a security interest or security title in or otherwise dispose of, any of the Collateral or any interest therein, except for sales of Inventory in the ordinary course of business, for cash or on open account or on terms of payment ordinarily extended to its customers, and except as otherwise expressly permitted under this Agreement. The inclusion of "

Ownership and Defense of Title. (a) Except for Permitted Liens, each either Borrower or such Guarantor shall at all times be the sole owner or lessee of each and every item of Collateral and shall not create any lien Lien on, or sell, lease, exchange, assign, transfer, pledge, hypothecate, grant a security interest or security title tide in or otherwise dispose of, any of the Collateral or any interest therein, except for sales of Inventory in the ordinary course of business, for cash or on open account or on terms of payment ordinarily extended to its customers, customers and except as otherwise expressly permitted under this Agreementcontemplated herein. The inclusion of "proceeds" of the Collateral under the Security Interest shall not be deemed a consent by Lender to any other sale or other disposition of any part or all of the Collateral.

Ownership and Defense of Title. (a) Except for Permitted Liens, each the Borrower and the Guarantors shall at all times be the sole owner or lessee of each and every item of Collateral and shall not create any lien on, or sell, lease, exchange, assign, transfer, pledge, hypothecate, grant a security interest or security title in or otherwise dispose of, any of the Collateral or any interest therein, except for sales of Inventory in the ordinary course of business, for cash or on open account or on terms of payment ordinarily extended to its customers, and except as otherwise expressly permitted under this Agreement. The inclusion of "proceeds" of the Collateral under the Security Interest shall not be deemed a consent by the Lender to any other sale or other disposition of any part or all of the Collateral.

Ownership and Defense of Title. (a) Except for Permitted Liens, each the Borrower or its Subsidiaries shall at all times be the sole owner or lessee of each and every item of Collateral and shall not create any lien on, or sell, lease, exchange, assign, transfer, pledge, hypothecate, grant a security interest or security title in or otherwise dispose of, any of the Collateral or any interest therein, except for sales of Inventory in the ordinary course of business, for cash or on open account or on terms of payment ordinarily extended to its customers, and except as otherwise expressly permitted under this Agreement. The inclusion of "on