Security Interest and Liens. The Borrower further warrants and represents that, except for the Permitted Encumbrances, the security interests granted herein constitute and shall at all times constitute the first and only liens on the Collateral; that, except for the Permitted Encumbrances, the Borrower is the absolute owner of the Collateral with full right to pledge, sell, consign, transfer and create a security interest therein, free and clear of any and all claims or liens in favor of others; and that the Equipment does not comprise a part of the Inventory of the Borrower and that the Equipment is and will only be used by the Borrower in its business and will not be held for sale or lease, or removed from its premises, or otherwise disposed of by the Borrower without the prior written approval of CITBC.
Security Interest and Liens. The Security Instruments create, as security for the Obligations, valid and enforceable first perfected first priority security interests in and Liens on all of the Collateral in favor of the Lender and subject to no other Liens other than Permitted Liens. Such security interests in and Liens on the Collateral shall be superior to and prior to the rights of all third parties in the Collateral, and, other than in connection with any future change in the name of the a Loan Party or the location in which a Loan Party is organized or registered, no further recordings or filings are or will be required in connection with the creation, perfection or enforcement of such security interests and Liens, other than the filing of continuation statements in accordance with applicable Laws.
Security Interest and Liens. Each of the Security Documents creates and grants to the Administrative Agent, for its own benefit and for the benefit of the Lenders, a legal and valid first priority (except as permitted pursuant to Section 6.02 hereof) Security Interest in the Collateral identified therein and, upon the due filing by the Administrative Agent of Uniform Commercial Code financing statements, the proper recording of Mortgages, possession by the Administrative Agent of collateral which can be perfected by possession only and "control" by the Administrative Agent of any deposit accounts, such first priority Security Interest will be perfected. Such Collateral is not subject to any other Liens whatsoever and neither such Credit Party nor any of its Subsidiaries has made or assumed any contract or other arrangement that could give rise to any such Liens, except Liens permitted by Section 6.02 hereof. Neither such Credit Party nor any of its Subsidiaries is under any contractual restriction which would prohibit it from granting such first priority Security Interests in the Collateral except as disclosed on Exhibit F annexed hereto.
Security Interest and Liens. The Security Documents are effective to create, as security for the obligations of the Loan Parties to the Administrative Agent and the Lenders under the Loan Documents, valid and enforceable security interests in and Liens on all of the Collateral in favor of the Administrative Agent, subject to no other Liens, other than Permitted Liens, and such security interests in and Liens on the Collateral shall be superior to and prior to the rights of all third parties (other than for such Permitted Liens or Liens arising by operation of law under the UCC or other applicable Law) and, upon the recordations and filings contemplated by Section 5.7(d), the security interests and Liens created under the Security Documents shall constitute perfected security interest and Liens to the extent the perfection thereof is achieved through the filing of financing statements under the Uniform Commercial Code as in effect in the jurisdiction in which the applicable Loan Party is located for purposes of the UCC.
Security Interest and Liens. (i) The Borrower further warrants and represents that, from and after entry of the Interim Order, except for the Permitted Encumbrances, the security interests granted herein constitute and shall at all times constitute the first liens on the Collateral; that, except for the Permitted Encumbrances and the Tax Liens (as to which, from and after entry of the Interim Order, the Borrower warrants and represents that the liens granted under this Financing Agreement shall be senior to and shall prime the Tax Liens), the Borrower is the absolute owner of the Collateral with full right to pledge, sell, consign, transfer and create a security interest therein, free and clear of any and all claims or liens in favor of others; and that the Equipment does not comprise a part of the Inventory of the Borrower and that the Equipment is and will only be used by the Borrower in its business and will not be held for sale or lease, or removed from its premises, or otherwise disposed of by the Borrower without the prior written approval of Lenders Agent or as otherwise expressly permitted by this Financing Agreement.
(ii) The Obligations of the Borrower will constitute allowed administrative expenses in the Case having priority over all administrative expenses and unsecured claims against the Borrower now existing or hereafter arising, of any kind or nature whatsoever, including, without limitation, all administrative expenses of the kind specified in Sections 503(b), 507(b) and 546(c) of the Bankruptcy Code, subject, as to priority, only to Carve-Out expenses having priority over the Obligations to the extent set forth in paragraph 2 of Section 6.
Security Interest and Liens. The Security Agreement, the Durocraft Security Agreement and the Pledge Agreement create in favor of the Agent and the Lenders valid 'and enforceable Liens on the Collateral described therein which secure the payment and performance of the Obligations, including without limitation, all future Advances pursuant to this Agreement and the Notes and all extensions, renewals and other modifications thereof Upon the filing of Uniform Commercial Code Financing Statements naming Borrower or Durocraft, as Craftmade International, Inc. Second Amended and Restated Credit Agreement
Security Interest and Liens. The Security Agreement and the Guarantor Security Agreement create in favor of Lender valid and enforceable Liens in the Collateral described therein which secure the payment and performance of the Obligations, including without limitation, all future Advances pursuant to this Agreement and the Note and all extensions, renewals and other modifications thereof. Upon the filing of Uniform Commercial Code Financing Statements naming Borrower or Guarantor, as applicable, as debtor and Lender as secured party in the applicable jurisdictions set forth in Schedule 6 hereto, and the release or assignment to Lender of the Liens described on Schedule 7 hereto, the Liens created by the Loan Documents shall constitute perfected, first priority Liens upon the property described therein which shall be superior and prior to the rights of all third Persons now existing or hereafter arising.
Security Interest and Liens a. Company acknowledges that NewRoads may haves a warehousemen's statutory lien on the Merchandise, as provided for by the laws of the States in which the Merchandise is being warehoused.
Security Interest and Liens a. Company acknowledges that Accretive Commerce has a warehousemen’s statutory lien on the Merchandise, as provided for by the laws of the states in which the Merchandise is being warehoused.
Security Interest and Liens. Section 10.4 of the Credit Agreement is hereby amended by deleting the word "and" from the end of ss.10.4(h), replacing the period at the end of ss.10.4(i) (as added by the Third Amendment) with the phrase "; and", and adding the following new ss.10.4(j):
