Common use of Preservation Clause in Contracts

Preservation. No Grantor shall take or permit any action which could materially impair the Administrative Agent’s rights in the Collateral, subject to Grantors’ rights to dispose of rights in the Collateral to the extent permitted hereunder or under the Credit Agreement or the right to grant Permitted Liens. Each Grantor agrees that it will, at its own cost and expense, take any and all actions necessary to warrant and defend the right, title and interest of the Secured Parties in and to the Collateral against the claims and demands of all other Persons (other than the holders of Permitted Liens).