Common use of Perfection as to Certificated Securities Clause in Contracts

Perfection as to Certificated Securities. When such Lien Grantor delivers the certificate representing any Pledged Certificated Security owned by it to the Applicable Agent and complies with Section 7(h) in connection with such delivery, (i) the Transaction Lien on such Pledged Certificated Security will be perfected, subject to no prior Liens or rights of others (except non-consensual Liens permitted under Section 6.01 of the Credit Agreement having priority as a matter of law), (ii) the Applicable Agent will have Control of such Pledged Certificated Security and (iii) the Applicable Agent will be a protected purchaser (within the meaning of UCC Section 8-303) thereof.

Appears in 1 contract

Samples: Revolving Credit Security Agreement (Tower International, Inc.)

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Perfection as to Certificated Securities. When such Lien Grantor delivers the certificate representing any Pledged Certificated Security owned by it to the Applicable Agent and complies with Section 7(h) in connection with such delivery, (i) the Transaction Lien on such Pledged Certificated Security will be perfected, subject to no prior Liens or rights of others (except non-consensual Liens permitted under Section 6.01 6.01(b) of the Credit Agreement having priority as a matter of lawLoan Agreement), (ii) the Applicable Agent will have Control of such Pledged Certificated Security and (iii) the Applicable Agent will be a protected purchaser (within the meaning of UCC Section 8-303) thereof.

Appears in 1 contract

Samples: First Lien Term Loan Security Agreement (Tower Automotive, LLC)

Perfection as to Certificated Securities. When such Lien Grantor delivers the certificate representing any Pledged Certificated Security owned by it to the Applicable Administrative Agent and complies with Section 7(h9(h) in connection with such delivery, (i) the Transaction Lien on such Pledged Certificated Security will be perfected, subject to no prior Liens or rights of others (except non-consensual Liens permitted under Section 6.01 of the Credit Agreement having priority as a matter of law)others, (ii) the Applicable Administrative Agent will have Control of such Pledged Certificated Security and (iii) provided that neither the Applicable Administrative Agent nor any Secured Party has any notice of any adverse claim, the Administrative Agent will be a protected purchaser (within the meaning of UCC Section 8-303) thereof.

Appears in 1 contract

Samples: Guarantee and Security Agreement (Kinetic Concepts Inc)

Perfection as to Certificated Securities. When such Lien Grantor delivers the certificate representing any Pledged Certificated Security owned by it to the Applicable Agent and complies with Section 7(h) in connection with such delivery, (i) the Transaction Lien on such Pledged Certificated Security will be perfected, subject to no prior Liens or rights of others (except non-consensual Liens permitted under Section 6.01 of the Credit Loan Agreement having priority as a matter of law), (ii) the Applicable Agent will have Control of such Pledged Certificated Security and (iii) the Applicable Agent will be a protected purchaser (within the meaning of UCC Section 8-303) thereof.

Appears in 1 contract

Samples: Term Loan Security Agreement (Tower International, Inc.)

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Perfection as to Certificated Securities. When such Lien Grantor delivers the certificate representing any Pledged Certificated Security owned by it to the Applicable Administrative Agent and complies with Section 7(h9(e) in connection with such delivery, (i) the Transaction Lien on such Pledged Certificated Security will be perfected, subject to no prior Liens or rights of others (except non-consensual Liens permitted under Section 6.01 of the Credit Agreement having priority as a matter of law)others, (ii) the Applicable Administrative Agent will have Control of such Pledged Certificated Security and (iii) provided that neither the Applicable Administrative Agent nor any Secured Party has any notice of any adverse claim, the Administrative Agent will be a protected purchaser (within the meaning of UCC Section 8-303) thereof.

Appears in 1 contract

Samples: Credit Agreement (Kinetic Concepts Inc)

Perfection as to Certificated Securities. When such Lien Grantor delivers the certificate representing any Pledged Certificated Security owned by it to the Applicable Agent and complies with Section ‎Section 7(h) in connection with such delivery, (i) the Transaction Lien on such Pledged Certificated Security will be perfected, subject to no prior Liens or rights of others (except non-consensual Liens permitted under Section 6.01 of the Credit Agreement having priority as a matter of law), (ii) the Applicable Agent will have Control of such Pledged Certificated Security and (iii) the Applicable Agent will be a protected purchaser (within the meaning of UCC Section 8-303) thereof.

Appears in 1 contract

Samples: Revolving Credit Security Agreement (Tower International, Inc.)

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