Common use of Properties; Permitted Liens Clause in Contracts

Properties; Permitted Liens. Borrower has good and indefeasible title to all of its real properties and good and marketable title to all of its other properties and assets and to the Collateral, in each case free and clear of any Liens except the Permitted Liens. Borrower has full power and authority to grant to Bank the security interest in the Collateral pursuant to the Loan Documents. When financing statements have been filed in the appropriate offices against Borrower with respect to any Collateral, Bank will have a fully perfected first priority security interest in that portion of the Collateral in which a security interest may be perfected by filing, subject only to any Permitted Liens.

Properties; Permitted Liens. Borrower has good and indefeasible title to all of its real properties and good and marketable title to all of its other properties and assets and to the Collateral, in each case free and clear of any Liens except the Permitted Liens. Borrower has full power and authority to grant to Bank Lender the security interest in the Collateral pursuant to the Loan Documents. When financing statements have been filed in the appropriate offices against Borrower with respect to any Collateral, Bank Lender will have a fully perfected first priority security interest in that portion of the Collateral in which a security interest may be perfected by filing, subject only to any Permitted Liens.