Common use of PERFECTION OF ENCUMBRANCES Clause in Contracts

PERFECTION OF ENCUMBRANCES. (a) The Collateral Agent shall have received results of searches or other evidence reasonably satisfactory to the Collateral Agent (in each case dated as of a date reasonably satisfactory to the Collateral Agent) indicating the absence of Encumbrances, except for Permitted Encumbrances, on the assets of the Loan Parties, except for which termination statements and releases reasonably satisfactory to the Collateral Agent are being tendered concurrently with such extension of credit. (b) The Collateral Agent shall have received all documents and instruments, including Uniform Commercial Code financing statements, required by law or reasonably requested by the Collateral Agent to be filed, registered or recorded to create or perfect the first priority Encumbrances intended to be created under the Loan Documents (subject to Permitted Encumbrances having priority over the Encumbrance of the Collateral Agent pursuant to operation of law) and all such documents and instruments shall have been so filed (or provision made therefor), registered or recorded to the satisfaction of the Collateral Agent.

PERFECTION OF ENCUMBRANCES. (a) The Collateral Agent Agents shall have received results of searches or other evidence reasonably satisfactory to the Collateral Agent Agents (in each case dated as of a date reasonably satisfactory to the Collateral AgentAgents) indicating the absence of Encumbrances, except for Permitted Encumbrances, on the assets of the Loan Parties, except for which termination statements and releases reasonably satisfactory to the Collateral Agent Agents are being tendered concurrently with such extension of credit. (b) The Collateral Agent Agents shall have received all documents and instruments, including Uniform Commercial Code financing statements, required by law or reasonably requested by the Collateral Agent Agents to be filed, registered or recorded to create or perfect the first priority Encumbrances intended to be created under the Loan Documents (subject to Permitted Encumbrances having priority over the Encumbrance of the Collateral Agent Agents pursuant to operation of law) and all such documents and instruments shall have been so filed (or provision made therefor), registered or recorded to the satisfaction of the Collateral AgentAgents.