Common use of Status of Security Interest Clause in Contracts

Status of Security Interest. (a) Subject to the limitations set forth in subsection (b) of this Section 6.4 and except as otherwise permitted by the Indenture, each Grantor shall maintain the security interest of the Collateral Trustee hereunder in all Collateral as valid, perfected, second priority Liens (subject, in the case of priority only, to Permitted Liens). (b) Notwithstanding the foregoing (or anything else to the contrary herein or in any other Security Document), no Grantor shall be required to take any action to (i) perfect a security interest in any Collateral that can only be perfected by Control, (ii) make foreign filings with respect to Intellectual Property or (iii) make any filings with registrars of motor vehicles or similar governmental authorities with respect to goods covered by a certificate of title, in each case except as and to the extent specified in Section 4 hereof.

Status of Security Interest. (a) Subject to the limitations set forth in subsection (b) of this Section 6.4 and except as otherwise permitted by the IndentureCredit Agreement, each Grantor shall maintain the security interest of the Collateral Trustee Agent hereunder in all Collateral as valid, perfected, second first priority Liens (subject, in the case of priority only, to Permitted Liens). (b) Notwithstanding the foregoing (or anything else to the contrary herein or in any other Security Loan Document), no Grantor shall be required to take any action to (i) perfect a security interest in any Collateral that can only be perfected by Control, (ii) make foreign filings with respect to Intellectual Property or (iii) make any filings with registrars of motor vehicles or similar governmental authorities with respect to goods covered by a certificate of title, in each case except as and to the extent specified in Section 4 hereof.

Status of Security Interest. (a) Subject to the limitations set forth in subsection (b) of this Section 6.4 and except as otherwise permitted by the IndentureCredit Agreement, each Grantor shall maintain the security interest of the Collateral Trustee Agent hereunder in all Collateral as valid, perfected, second first priority Liens (subject, in the case of priority only, to Permitted Liens). (b) Notwithstanding the foregoing (or anything else to the contrary herein or in any other Security Loan Document), no Grantor shall be required to take any action to (i) perfect a security interest in any Collateral that can only be perfected by Control, (ii) make foreign filings with respect to Intellectual Property or (iii) make any filings with registrars of motor vehicles or similar governmental authorities with respect to goods covered by a certificate of title, in each case except as and to the extent specified in Section 4 hereof.

Status of Security Interest. (a) Subject subject to the limitations set forth in subsection (b) of this Section 6.4 and except as otherwise permitted by the Indenture6.4, each Grantor shall maintain the security interest of the Notes Collateral Trustee hereunder in all Collateral as valid, perfected, second first priority Liens (subject, in the case of priority only, to the Permitted Notes Collateral Liens, Permitted Liens and Liens on North America ABL Priority Collateral securing North America ABL Obligations). (b) Notwithstanding notwithstanding the foregoing (or anything else to the contrary herein or in any other Security Document)foregoing, no Grantor shall be required to take any action to (i) perfect a security interest in any Collateral that can only be perfected by (i) Control, (ii) make foreign filings with respect to Intellectual Property Property, or (iii) make any filings with registrars of motor vehicles or similar governmental authorities with respect to goods covered by a certificate of title, in each case except as and to the extent specified in Section 4 hereof.