Satisfactory Lien Searches Clause Samples
Satisfactory Lien Searches. Purchaser and Participants have received search results of abstracts of title, UCC filings, judgment liens, tax liens and pending litigation with respect to the Vessel, the Affiliate Vessels, W▇▇▇▇▇▇▇ and Gulf South, in form and substance satisfactory to Purchaser and Participants, which show that Purchaser will acquire on the Closing Date, in its capacity as the Trustee of the Trust, (i) good and merchantable title to the Vessel free and clear of all Liens (other than Permitted Maritime Liens), and (ii) a first statutory mortgage lien and security interest in the Affiliate Vessels;
Satisfactory Lien Searches. Search results in any applicable jurisdiction with respect to Borrower, in form and substance satisfactory to Lender, which show that Lender has, or will have, at the time of each Advance, a valid and subsisting first priority preferred mortgage lien and/or security interest in all of the Collateral existing as of the date of the Advance and that there are no other Liens that may affect the Collateral other than Pennitted Liens and the preferred mortgage lien in favor of DNB Bank ASA to be satisfied with the proceeds of the Advance;
Satisfactory Lien Searches. Sellers shall have delivered to Buyer, or Buyer shall have procured uniform commercial code, lien, judgment and other searches in all jurisdictions in which the Corporation conducts any business or in which any assets of the Corporation are located, in form and substance satisfactory to Buyer; which searches shall not reflect any liens, levies, encumbrances or liabilities of the Corporation other than those amounts reflected on the Corporation Financial Statements or otherwise included in any of the Corporation’s schedules to this Agreement.