Common use of Priority of Liens; Title to Properties Clause in Contracts

Priority of Liens; Title to Properties. The security interests and liens granted to Lenders under this Agreement and the other Loan Documents constitute valid and perfected first priority liens and security interests in and upon the Collateral, subject only to the Permitted Liens. Each Borrower and Guarantor has good and marketable title to all of its properties and assets, subject to no liens, mortgages, pledges, security interests, encumbrances or charges of any kind, except those granted to Lenders and the Permitted Liens.

Appears in 2 contracts

Samples: Credit Agreement (Decorative Home Accents Inc), Credit Agreement (Decorative Home Accents Inc)

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Priority of Liens; Title to Properties. The security interests and liens granted to Lenders under this Agreement and the other Loan Documents constitute valid and perfected first priority liens and security interests in and upon the Collateral, subject only to the Permitted Liens. Each Borrower and Guarantor has good and marketable title to all of its properties and assets, assets subject to no liens, mortgages, pledges, security interests, encumbrances or charges of any kind, except those granted to Lenders and the Permitted Liens.

Appears in 1 contract

Samples: Credit Agreement (Decorative Home Accents Inc)

Priority of Liens; Title to Properties. The security interests and liens granted to Lenders Agent and the Secured Parties under this Agreement and the other Loan Documents constitute valid and perfected first priority liens and security interests in and upon the Collateral, subject Collateral junior only to the Permitted LiensLiens in existence on the date hereof. Each Borrower Debtor has good, valid and Guarantor has good and marketable merchantable title to all of its properties and assets, assets subject to no liens, mortgages, pledges, security interests, encumbrances or charges of any kind, except those granted to Lenders and the Permitted Liens.

Appears in 1 contract

Samples: Security Agreement (National Datacomputer Inc)

Priority of Liens; Title to Properties. The security interests and liens granted to Lenders Bank under this Agreement and the other Loan Documents Financing Agreements constitute valid and perfected first priority liens and security interests in and upon the Collateral, Collateral subject only to the Permitted Liensliens permitted under Section 6.2(d) of the Credit Agreement. Each Borrower and Guarantor has good and marketable title to all of its properties and assets, assets subject to no liens, mortgages, pledges, security interests, encumbrances or charges of any kind, except those granted to Lenders Bank and such others as are specifically permitted under Section 6.2(d) of the Permitted LiensCredit Agreement.

Appears in 1 contract

Samples: Guarantor Security Agreement (Elite Information Group Inc)

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Priority of Liens; Title to Properties. The security interests and liens granted to Lenders Bank under this Agreement and the other Loan Documents Financing Agreements constitute valid and perfected first priority liens and security interests in and upon the Collateral, Collateral subject only to the Permitted Liensliens permitted under Section 6.2(f) of the Credit Agreement. Each Borrower and Guarantor has good and marketable title to all of its properties and assets, assets subject to no liens, mortgages, pledges, security interests, encumbrances or charges of any kind, except those granted to Lenders Bank and such others as are specifically permitted under Section 6.2(f) of the Permitted LiensCredit Agreement.

Appears in 1 contract

Samples: General Security Agreement (Elite Information Group Inc)

Priority of Liens; Title to Properties. The security interests and liens granted to Lenders Agent under this Agreement and the other Loan Documents Financing Agreements constitute valid and perfected first priority liens and security interests in and upon the Collateral. Borrower has good, subject only to the Permitted Liens. Each Borrower valid and Guarantor has good and marketable merchantable title to all of its other properties and assets, assets subject to no liens, mortgages, pledges, security interests, encumbrances or charges of any kind, except those granted to Lenders and the Permitted LiensAgent.

Appears in 1 contract

Samples: Loan and Security Agreement (Westpoint Stevens Inc)

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