Possession and Ownership. The Collateral is or will be in Debtor's possession (except for equipment or inventory provided to Debtor's Customers in the ordinary course of business) and Debtor has or will acquire absolute title thereto and will defend the Collateral against the claims and demands of all persons other than Secured Party. Debtor has full right and power to grant the security interest herein to Secured Party.
Appears in 2 contracts
Samples: 1997 Security Agreement (Data Transmission Network Corp), 1996 Restated Security Agreement (Data Transmission Network Corp)
Possession and Ownership. The Collateral is or will be in DebtorBorrower's possession (except for equipment or inventory provided to Debtor's Customers in the ordinary course of business) and Debtor Borrower has or will acquire absolute title thereto (subject to Permitted Liens) and will defend the Collateral against the claims and demands of all persons other than Secured Party. Debtor Borrower has full right and power to grant the security interest herein to Secured Party.
Appears in 1 contract
Samples: Revolving Credit Agreement (Ameritrade Holding Corp)
Possession and Ownership. The Collateral is or will be in Debtor's possession (except for equipment or inventory provided to Debtor's Customers customers in the ordinary course of business) and Debtor has or will acquire absolute title thereto and will defend the Collateral against the claims and demands of all persons other than Secured Party. Debtor has full right and power to grant the security interest herein to Secured Party.
Appears in 1 contract
Samples: 1998 Security Agreement (Data Transmission Network Corp)
