Perfection Exceptions Sample Clauses
Perfection Exceptions. Notwithstanding anything herein to the contrary, the Loan Parties shall not be required to perfect any security interest by (x) taking any action or making any filing with any governmental authority in any non-U.S. jurisdiction or (y) entering into account control agreements with respect to Deposit Accounts, Securities Accounts or Commodities Accounts held outside of the United States.
Perfection Exceptions. Notwithstanding anything to the contrary contained herein, the Loan Parties shall have no obligation to take any steps with respect to the perfection of any security interest or Lien (other than a security interest or other Lien where the filing of a UCC financing statement is the appropriate method for perfecting a security interest) in the following Collateral (unless so requested by the Administrative Agent if a Default or Event of Default has occurred and is continuing): (i) cars, trucks, trailers, construction and earth moving equipment and other vehicles covered by a certificate of title law; and (ii) any deposit account or securities (but not the proceeds thereof) which is an Excluded Account pursuant to clause (b) of the definition thereof.