Common use of Ownership and Location of Collateral Clause in Contracts

Ownership and Location of Collateral. (a) With respect to the Collateral, at the time the Collateral becomes subject to Agent's security interest: (i) each Credit Party shall be the sole owner of or have rights or an interest in, and be fully authorized and able to sell, transfer, pledge and/or grant a first priority security interest in each and every item of its respective Collateral to Agent, subject to Permitted Encumbrances; and, except for Permitted Encumbrances the Collateral shall be free and clear of all Liens whatsoever; (ii) each document and agreement executed by each Credit Party or delivered to Agent or any Lender in connection with this Agreement shall be true and correct in all material respects; (iii) all signatures and endorsements of each Credit Party that appear on such documents and agreements shall be genuine and each Credit Party shall have full capacity to execute same; and (iv) each Credit Party's Equipment and Inventory shall be located as set forth on Schedule 4.4 (unless such Equipment or Inventory is being utilized for a project and at a customer's location; provided, that in any event no Eligible Fleet Assets shall be located within any Ineligible Location), or at such other locations as a Credit Party may from time to time notify Agent.

Ownership and Location of Collateral. (a) With respect to the Collateral, at the time the Collateral becomes subject to Agent's security interest: (i) each Credit Loan Party shall be the sole owner of or have rights or an interest in, and be fully authorized and able to sell, transfer, pledge and/or grant a first priority security interest in each and every item of its respective Collateral to Agent, subject to Permitted Encumbrances; and, except for Permitted Encumbrances the Collateral shall be free and clear of all Liens and encumbrances whatsoever; (ii) each document and agreement executed by each Credit Loan Party or delivered to Agent or any Lender in connection with this Agreement shall be true and correct in all material respects; (iii) all signatures and endorsements of each Credit Loan Party that appear on such documents and agreements shall be genuine and each Credit Loan Party shall have full capacity to execute same; and (iv) each Credit Loan Party's Equipment and Inventory shall be located (y) as set forth on Schedule 4.4 (unless such Equipment as updated from time to time) or Inventory is being utilized for a project and at a customer's location; provided, that in any event no Eligible Fleet Assets shall be located within any Ineligible Location), or (z) at such other locations location as a Credit Party may permitted under Section 4.4(b)(i), and shall not be removed from time such location(s) without the prior written consent of Agent except with respect to time notify Agentthe sale of Inventory in the Ordinary Course of Business and with respect to Inventory either in transit from one location identified on Schedule 4.4 to another location identified on Schedule 4.4 or located at third-party suppliers or processors or Subsidiaries of Loan Parties in the Ordinary Course of Business.

Ownership and Location of Collateral. (a) With a)With respect to the Collateral, at the time the Collateral becomes subject to Agent's ’s security interest: (i) each Credit Loan Party shall be the sole owner of or have rights or an interest in, and be fully authorized and able to sell, transfer, pledge and/or grant a first priority security interest in Lien (subject only to Permitted Encumbrances and the Intercreditor Agreement) upon each and every item of its respective Collateral to Agent, subject to Permitted Encumbrances; and, except for Permitted Encumbrances the Collateral shall be free and clear of all Liens whatsoever; (ii) each document and agreement executed by each Credit Loan Party or ​ delivered to Agent or any Lender in connection with this Agreement shall be true and correct in all material respects; (iii) all signatures and endorsements of each Credit Loan Party that appear on such documents and agreements shall be genuine and each Credit Loan Party shall have full capacity to execute same; and (iv) each Credit Loan Party's ’s Equipment and Inventory shall be located as set forth on Schedule 4.4 (unless hereto, as such Equipment or Inventory is being utilized for a project and at a customer's location; provided, that in any event no Eligible Fleet Assets shall Schedule may be located within any Ineligible Location), or at such other locations as a Credit Party may updated from time to time notify Agenttime, and shall not be removed from such locations without the prior written consent of Agent except with respect to the sale of Inventory in the Ordinary Course of Business and Equipment to the extent permitted in Section 7.1(b) hereof.