Common use of Pledged Securities and Other Investment Property Clause in Contracts

Pledged Securities and Other Investment Property. The Debtor is the direct and beneficial owner of each Instrument, Security and other type of Investment Property delivered to the Agent on Debtor's behalf, free and clear of any Liens, except for the security interest granted to the Agent for the benefit of the Lenders hereunder or as otherwise permitted in the Credit Agreement. The Debtor further represents and warrants that (i) all such Instruments, Securities or other types of Investment Property which are shares of stock in a corporation or ownership interests in a partnership or limited liability company have been (to the extent such concepts are relevant with respect to such Instrument, Security or other type of Investment Property) duly and validly issued, are fully paid and non-assessable and (ii) with respect to any certificates delivered to the Agent representing an ownership interest in a partnership or limited liability company, either such certificates are Securities as defined in Article 8 of the Uniform Commercial Code of the applicable jurisdiction as a result of actions by the issuer or otherwise, or, if such certificates are not Securities, the Debtor has so informed the Agent so that the Agent may take steps to perfect its security interest therein as a General Intangible.

Pledged Securities and Other Investment Property. The Debtor Borrower is the direct and beneficial owner of each Instrument, Security and other type of Investment Property delivered to the Agent on DebtorBorrower's behalf, free and clear of any Liens, except for the security interest granted to the Agent for the benefit of the Lenders hereunder or as otherwise permitted in the Credit Agreement. The Debtor Borrower further represents and warrants that (i) all such Instruments, Securities or other types of Investment Property which are shares of stock in a corporation or ownership interests in a partnership or limited liability company have been (to the extent such concepts are relevant with respect to such Instrument, Security or other type of Investment Property) duly and validly issued, are fully paid and non-assessable and (ii) with respect to any certificates delivered to the Agent representing an ownership interest in a partnership or limited liability company, either such certificates are Securities as defined in Article 8 of the Uniform Commercial Code of the applicable jurisdiction as a result of actions by the issuer or otherwise, or, if such certificates are not Securities, the Debtor Borrower has so informed the Agent so that the Agent may take steps to perfect its security interest therein as a General Intangible.