Common use of Security Assets Clause in Contracts

Security Assets. Each Obligor is solely and absolutely entitled to the Security Assets over which it has or will create any Security Interest pursuant to the Security Documents to which it is, or will be, a party and there is no agreement or arrangement, under which it is obliged to share any proceeds of or derived from such Security Assets with any third party.

Appears in 6 contracts

Samples: Credit Agreement (Atlas Corp.), Note Purchase Agreement (Atlas Corp.), Credit Agreement (Atlas Corp.)

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Security Assets. Each Obligor is or will on the creation of the relevant Security Interest be solely and absolutely entitled to the Security Assets over which it has or will create any Security Interest pursuant to the Security Documents to which it is, or will be, a party and there is no agreement or arrangement, arrangement under which it is obliged to share any proceeds of or derived from such Security Assets with any third party.

Appears in 2 contracts

Samples: Facility Agreement (Global Ship Lease, Inc.), Credit Agreement (Global Ship Lease, Inc.)

Security Assets. Each Obligor is solely and absolutely entitled to the Security Assets over which it has or will create any Security Interest pursuant to the Security Documents to which it is, or will be, a party and there is no agreement or arrangement, under which it is obliged to share any proceeds of or derived from such Security Assets with any third partyparty (excluding any Permitted Liens).

Appears in 2 contracts

Samples: Credit Agreement (Atlas Corp.), Credit Agreement (Atlas Corp.)

Security Assets. Each Obligor is solely and absolutely entitled to the Security Assets over which it has or will create any Security Interest pursuant to the Security Documents to which it is, or will be, a party (excluding any Permitted Liens) and there is no agreement or arrangement, under which it is obliged to share any proceeds of or derived from such Security Assets with any third partyparty (excluding any Permitted Liens).

Appears in 2 contracts

Samples: Credit Agreement (Atlas Corp.), Credit Agreement (Atlas Corp.)

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Security Assets. Each Obligor is solely and absolutely entitled to the Security Assets over which it has or will create any Security Interest pursuant to the Security Documents to which it is, or will be, a party (excluding any Permitted Liens) and there is no agreement or #4889-1846-1214 arrangement, under which it is obliged to share any proceeds of or derived from such Security Assets with any third partyparty (excluding any Permitted Liens).

Appears in 1 contract

Samples: Credit Agreement (Atlas Corp.)

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