Common use of Right to Grant Security Interest; No Further Encumbrances Clause in Contracts

Right to Grant Security Interest; No Further Encumbrances. The Borrower and Guarantors have the right to grant a security interest in the Collateral. The Borrower and Guarantors will pay all taxes and other charges against the Collateral (including, without limitation, property, use and sales taxes), and neither the Borrower nor any Guarantor will use the Collateral illegally or allow the Collateral to be encumbered except for the security interest in favor of the Agent granted herein.

Right to Grant Security Interest; No Further Encumbrances. The Borrower Borrower, the Guarantors and Guarantors the other Loan Parties have the right to grant a security interest in the Collateral. The Borrower Borrower, the Guarantors and Guarantors the other Loan Parties will pay all taxes and other charges against the Collateral (including, without limitation, property, use and sales taxes), and neither none of the Borrower nor Borrower, any Guarantor or any other Loan Party will use the Collateral illegally or allow the Collateral to be encumbered except for the security interest in favor of the Agent Bank granted hereinunder the Security Agreement.

Right to Grant Security Interest; No Further Encumbrances. The Borrower and or Guarantors have the right to grant a security interest in the CollateralProperty Collateral to Lender. The Borrower and and/or Guarantors will pay all taxes and other charges against the Collateral (including, without limitation, property, use and sales taxes), and neither the Property Collateral. Borrower nor any Guarantor and/or Guarantors will not use the Property Collateral illegally or allow the Property Collateral to be encumbered encumbered, except for the security interest in favor of the Agent Lender granted hereinherein and except for any Permitted Encumbrances.