Common use of Perfection of Security Interests in the Collateral Clause in Contracts

Perfection of Security Interests in the Collateral. The provisions of the Collateral Documents are effective to create valid security interests in, and Liens on, the Collateral purported to be covered thereby, and upon (i) the initial extension of credit hereunder, (ii) the filing of appropriately completed Uniform Commercial Code financing statements and continuations thereof in the jurisdictions specified therein, (iii) the filing of appropriately completed short-form assignments in the U.S. Patent and Trademark Office and the U.S. Copyright Office, as applicable, and (iv) the possession by the Administrative Agent of any certificates evidencing the securities pledged thereby, duly endorsed or accompanied by duly executed stock powers, such security interests and Liens shall constitute perfected security interests and Liens, prior to all other Liens other than Permitted Liens, to the extent such security interests and Liens can be perfected by such filings, actions and possession; provided, that, no representation or warranty is made by any Loan Party as to the perfection of the Administrative Agent’s Lien in any Equity Interests of an issuer that is a Foreign Subsidiary under foreign law.

Perfection of Security Interests in the Collateral. The provisions of the Collateral Documents are effective to create valid security interests in, and Liens on, the Collateral purported to be covered thereby, and upon (i) the initial extension of credit hereunder, (ii) the filing of appropriately completed Uniform Commercial Code financing statements and continuations thereof in the jurisdictions specified therein, (iii) the filing of appropriately completed short-form assignments in the U.S. Patent and Trademark Office and the U.S. Copyright Office, as applicable, and (iv) the possession by the Administrative Agent of any certificates evidencing the securities pledged thereby, duly endorsed or accompanied by duly executed stock powers, such security interests and Liens shall constitute perfected security interests and Liens, prior to all other Liens other than Permitted Liens, to the extent such security interests and Liens can be perfected by such filings, actions and possession; provided, that, no representation or warranty is made by any Loan Party as to the perfection of the Administrative Agent’s 's Lien in any Equity Interests of an issuer that is a Foreign Subsidiary under foreign law.