PERFECTING THE SECURITY INTEREST; PROTECTING THE COLLATERAL Sample Clauses
The "Perfecting the Security Interest; Protecting the Collateral" clause establishes the lender's right to take all necessary actions to ensure its security interest in the collateral is legally enforceable and prioritized over other claims. This typically involves the borrower agreeing to sign documents, file financing statements, or take other steps required by law to perfect the lender's interest, such as registering liens or providing additional information. The core function of this clause is to protect the lender by ensuring its claim to the collateral is valid and enforceable against third parties, thereby reducing the risk of loss if the borrower defaults.
PERFECTING THE SECURITY INTEREST; PROTECTING THE COLLATERAL. Debtor hereby authorizes Secured Party to file such financing statements relating to the Collateral without Debtor's signature thereon as Secured Party may deem appropriate, and appoints Secured Party as Debtor's attorney-in-fact (without requiring Secured Party) to execute any such financing statement or statements in Debtor's name and to perform all other acts which Secured Party deems appropriate to perfect and continue the Security Interest and to protect, preserve, and realize upon the Collateral.
PERFECTING THE SECURITY INTEREST; PROTECTING THE COLLATERAL. (a) Each of Borrower and each Loan Party (other than any Loan Party organized and/or incorporated under the laws of the European Union or any member state thereof or the laws of any other European jurisdiction) hereby authorizes the Agent to file such financing statements relating to the Collateral without Borrower’s or such Loan Party’s signature thereon as the Agent may deem appropriate, and appoints the Agent as Borrower’s and such Loan Party’s attorney-in-fact (without requiring the Agent) to perform all other acts which the Agent deems appropriate to perfect and continue the Security Interest and to protect, preserve, and realize upon the Collateral.
(b) [Intentionally Omitted].
(c) Agent may, at its option, from time to time make such disbursements and advances (“Special Advances”) which Agent, in its sole discretion, after the occurrence of a Default or an Event of Default or at any time the other conditions precedent set forth in Article 3 have not been satisfied, (i) deems necessary or desirable either to preserve or protect the Collateral or any portion thereof or (ii) to enhance the likelihood or maximize the amount of repayment by Borrower of the Indebtedness, or (iii) to pay any other amount chargeable to Borrower pursuant to the terms of this Agreement or any of the other Loan Documents consisting of costs, fees and expenses and payments to any issuer of Letters of Credit, provided, that, (x) the aggregate principal amount of the Special Advances pursuant to this Section 14.1(c), plus the then outstanding principal amount of the additional Revolving Loans and for the issuance of Letters of Credit which Agent may make or cause to be made or provide as otherwise set forth herein, shall not exceed the lesser of (A) 5% of the Maximum Amount and (B) 10% of Borrowing Capacity and (y) the aggregate principal amount of the Special Advances made pursuant to this Section 14.1(c) shall not exceed an amount to equal to ten (10%) percent of the Maximum Amount. Special Advances shall be repayable on demand and be secured by the Collateral. Special Advances shall not constitute Revolving Loans but shall otherwise constitute Indebtedness hereunder, and shall bear interest at the rate applicable from time to time to Revolving Loans maintained as Prime Rate Loans. Without limitation of its obligations pursuant to Article 2 hereof, each Lender agrees that it shall make available to Agent, upon Agent’s demand, in immediately available funds, the amount equal to ...
PERFECTING THE SECURITY INTEREST; PROTECTING THE COLLATERAL. Debtor will execute and deliver to Secured Party such financing statements, assignments, and other documents and will do such other things in connection with the Transaction Documents as Secured Party may request. Debtor hereby authorizes Secured Party to file such financing statements relating to the Collateral without Debtor's signature thereon as Secured Party may deem appropriate, and appoints Secured Party as Debtor's attorney-in-fact (without requiring Secured Party) to execute any such financing statement of statements in Debtor's name and to perform all other acts which Secured Party deems appropriate to perfect and continue the Security Interest and to protect, preserve, and realize upon the Collateral.
PERFECTING THE SECURITY INTEREST; PROTECTING THE COLLATERAL. Borrowers hereby authorize Agent to file such financing statements relating to the Collateral without Borrowers' signature thereon as Agent may deem appropriate, and appoints Agent as Borrowers' attorney-in-fact to perform all other acts which Agent deems appropriate to perfect and continue the Security Interest and to protect, preserve, and realize upon the Collateral, subject to the terms and conditions of this Agreement.
PERFECTING THE SECURITY INTEREST; PROTECTING THE COLLATERAL. Borrowers hereby authorize Agent to file such financing statements relating to the Collateral without Borrowers' signature thereon as Agent may deem appropriate, and appoints Agent as Borrowers' attorney-in-fact to perform all other acts which Agent deems appropriate to perfect and continue the Security Interest and to protect, preserve, and realize upon the Collateral, subject to the terms and conditions of this Agreement. Without limiting the foregoing, upon the occurrence and during the continuance of an Event of Default, or at any other time, if any event or circumstance with respect to the Borrowers shall occur such that the Agent in its reasonable discretion believes that the prospect of payment of all or any part of the Indebtedness or the performance by the Borrowers under the Transaction Documents is impaired or such event or circumstance may result in a Material Adverse Effect, Agent may or, at the direction of Required Lenders, shall take such action as is necessary to perfect the Security Interest in Unencumbered Aircraft; provided that the Agent shall give prompt written notice to the Borrowers upon taking such action, and provided further that Borrowers shall take action and execute and deliver to Agent and/or Lenders such additional documents, instruments, certificates, and agreements as Agent and/or Lenders may reasonably request to effectuate the purposes of this Section 12.6.
PERFECTING THE SECURITY INTEREST; PROTECTING THE COLLATERAL. Borrower hereby authorizes Lender to file such financing statements relating to the Collateral without Borrower's signature thereon as Lender may deem appropriate, and appoints Lender as Borrower's attorney-in-fact to perform all other acts which Lender deems appropriate to perfect and continue the Security Interest and to protect, preserve, and realize upon the Collateral, subject to the terms and conditions of this Agreement.
PERFECTING THE SECURITY INTEREST; PROTECTING THE COLLATERAL. Borrowers hereby authorize Agent to file such financing statements relating to the Collateral without Borrowers' signature thereon as Agent may deem appropriate, and appoints Agent as Borrowers' attorney-in-fact to perform all other acts which Agent deems appropriate to perfect and continue the Security Interest and to protect, preserve, and realize upon the Collateral, subject to the terms and conditions of this Agreement. Without limiting the foregoing, upon the occurrence and during the continuance of an Event of Default, or at any other time, if any event or circumstance with respect to the Borrowers shall occur such that the Agent in its reasonable discretion believes that the prospect of payment of all or any part of the Indebtedness or the performance by the Borrowers under the Transaction Documents is impaired or such event or circumstance may result in a Material Adverse Effect, Agent may take such action as is necessary to create and perfect the Security Interest in Unencumbered Aircraft; provided that the Agent shall give prompt written notice to the Borrowers upon taking such action.
PERFECTING THE SECURITY INTEREST; PROTECTING THE COLLATERAL. Each Debtor hereby authorizes Secured Party to file such financing statements relating to the Collateral without such Debtor's signature thereon as Secured Party may deem appropriate (subject to Section 11.17), and appoints Secured Party as such Debtor's attorney-in-fact (without requiring Secured Party) to execute any such financing statement or statements in Debtor's name and to perform all other acts which Secured Party deems appropriate to perfect and continue the Security Interest and to protect, preserve, and realize upon the Collateral. Debtors will not file a termination statement under the Uniform Commercial Code without the prior written consent of Secured Party.