Title to Collateral. (a) Except for the Security Interest herein granted and Liens not expressly prohibited by the Indentures, Pledgor shall be the owner of the Collateral free from (and Pledgor shall not create or suffer to exist on the Collateral) any Lien; and (b) Pledgor shall not pledge, mortgage or create, or suffer to exist a Lien on the Collateral in favor of any person other than Secured Party except for Liens permitted by the Indentures.
Appears in 14 contracts
Samples: Security Agreement (Marconi Corp PLC), Security Agreement (Marconi Corp PLC), Security Agreement (Marconi Corp PLC)
Title to Collateral. (a) Except for the Security Interest herein granted and Liens not expressly prohibited by the Indenturesgranted, Pledgor shall be the owner of the Pledged Collateral free from (and any Lien, except Liens not expressly prohibited under the Indentures. Notwithstanding the foregoing, Pledgor shall not create be permitted to sell or suffer otherwise dispose of the Pledged Collateral if and to exist on the Collateral) any Lien; and (b) Pledgor shall not pledge, mortgage or create, or suffer to exist a Lien on the Collateral in favor of any person other than Secured Party except for Liens extent permitted by the Indentures.
Appears in 12 contracts
Samples: Stock Pledge Agreement (Marconi Corp PLC), Stock Pledge Agreement (Marconi Corp PLC), Stock Pledge Agreement (Marconi Corp PLC)
Title to Collateral. (a) Except for the Security Interest herein granted and Liens not expressly prohibited by the Indentures, Pledgor shall be the owner of the Collateral free from (and Pledgor shall not create or suffer to exist on the Collateral) any Lien; and (b) Pledgor shall not pledge, mortgage or create, or suffer to exist a Lien on the Collateral in favor of any person other than Secured Party except for Liens permitted by the Indentures.and
Appears in 2 contracts
Samples: Security Agreement (Marconi Corp PLC), Security Agreement (Marconi Corp PLC)
