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 Administrative Agent and complies with Section 9(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, (ii) the Administrative Agent will have Control of such Pledged Certificated Security and (iii) provided that neither the 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)

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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 Administrative Agent and complies with Section 9(e9(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, (ii) the Administrative Agent will have Control of such Pledged Certificated Security and (iii) provided that neither the 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 Administrative Applicable Agent and complies with Section 9(e7(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 othersothers (except Liens permitted under Section 6.01(b) of the Loan Agreement), (ii) the Administrative Applicable Agent will have Control of such Pledged Certificated Security and (iii) provided that neither the Administrative Agent nor any Secured Party has any notice of any adverse claim, the Administrative 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)

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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 Administrative Agent and complies with Section 9(e8(j) 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 othersothers (other than inchoate tax liens), (ii) the Administrative Agent will have Control of such Pledged Certificated Security and (iii) provided that neither the Administrative Agent nor any Secured Party has any does not have notice of any adverse claimclaim (within the meaning of UCC Section 8-105) to such Pledged Certificated Security, 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 (Cloud Peak Energy Inc.)

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